See Change and Richard Feynman . let's hype the sydney market thread .

[windyzz]

Western Sydney, unit prices have doubled in 3-5 years (depending on when you bought it). Unless you think Sydney is only till inner west.

Not really... a 2bed unit i bought recently in Westmead for 525k was purchased originally in 2010 for 375k...... 5 Years with 40% growth. that's 8% per annnum....

 

[MsAli]

Not really... a 2bed unit i bought recently in Westmead for 525k was purchased originally in 2010 for 375k...... 5 Years with 40% growth. that's 8% per annnum....

Yes, but in Mount Druitt, you could get a unit for $200k in late 2011 and they are touching $360k+ , 80% growth.

2br Villas for $200k, touching $370k as well.

Westmead is not all of Sydney.

 

[windyzz]

Yes, but in Mount Druitt, you could get a unit for $200k in late 2011 and they are touching $360k+ , 80% growth.

2br Villas for $200k, touching $370k as well.

Westmead is not all of Sydney.

Well I got a unit in Hurstville too. 2 bed. My neigbhour downstair sold theirs for 580k-585k in Mid-late 2013 (cant exactly remember)... Recently mine has been valued around ~640k.... that's approximately 6% per annum growth... (I don't really see crazy growth like what the media boasting about...) I think generally cheaper units has grown so fast. But i don't know how sustainable it is in Mount Druitt.

 

[MsAli]

Well I got a unit in Hurstville too. 2 bed. My neigbhour downstair sold theirs for 580k-585k in Mid-late 2013 (cant exactly remember)... Recently mine has been valued around ~640k.... that's approximately 6% per annum growth... (I dont see that as Boom)

Sure, but again Westmead & Hurstville are suburbs of Sydney not entire Sydney.

 

[windyzz]

You're right But some suburb just don't get the Crazy boom like what the Media is Boasting....

The growth has been pretty sustainable I believed, and on top of that my rent has also increased by approximately 10 dollars per year.

 

[see_change]

89 % clearance rates

Property Snapshot
Number Listed Auctions: 738
Number Reported Auctions: 559
Sold: 514
Withdrawn: 17
% Cleared: 89 %
Total Sales: $486,070,200
Median: $1,015,000

Cliff

 

[see_change]

Lower north shore is hot but the move is made in the 1-3 mil mark. Houses that were 2 mil 2 years ago are selling for 3mil.

In fact prices have moved the most in Sydney on the lower north shore - 10.5% for the last quarter!

http://news.domain.com.au/domain/re...-house-price-by-december-20150502-1mxru2.html

I noticed that article , but that hasn't been my observation in the upper north Shore . More subdued once you got over 2 mill and while prices were moving , I hadn't seen any properties in that bracket move that much .

Cliff

 

[beachgurl]

915k for a fully renovated 3bed 1bathroom home in Greystanes. Nuts.

 

[Phiber]

Wow crazy.

Will be interesting to see if units catch up with houses in area where they haven't moved much.

 

[Phiber]

And I mean catch up in terms of growth %, not absolute $ of course.

 

[see_change]

Wow crazy.

Will be interesting to see if units catch up with houses in area where they haven't moved much.

When ever I've looked in the past Units / houses tend to move similar amounts percentage wise .

Cliff

 

[Phiber]

This has been my observation too for past trends.
Perhaps as house prices move out of reach of some buyers, it will drag the unit upwards.

 

[Weteggs]

I noticed that article , but that hasn't been my observation in the upper north Shore . More subdued once you got over 2 mill and while prices were moving , I hadn't seen any properties in that bracket move that much .

Cliff

Maybe you haven't been going to the open houses of late? There are many examples of houses being bought for 2 mil in 2012/2013 and being sold for 3 mil this year. Just go on house.ksou.cn.

For example in Killara sold for 3.1 mil last month -
http://www.realestate.com.au/property-house-nsw-killara-119416127
Sold in December 2012 for 1.8 mil.

 

[Weteggs]

I noticed that article , but that hasn't been my observation in the upper north Shore . More subdued once you got over 2 mill and while prices were moving , I hadn't seen any properties in that bracket move that much .

Cliff

In Roseville this sold for 2.518mil in March this year
http://www.realestate.com.au/sold/p...lle,+nsw+2069;+/list-1?source=location-search
Last sold for 1.7mil in July 2013.

 

[skater]

our Mt Druitt PM told us that it is crazy atm, and it is almost a matter of stating a price and buyers will pay!

.

Which agent are you using Monalisa

Actually in Mt Druitt region, units have doubled, houses haven't

Sorry, I have to disagree. I've sold both a house and a unit, both for more than double the purchase price, and the prices are STILL rising.

 

[see_change]

In Roseville this sold for 2.518mil in March this year
http://www.realestate.com.au/sold/p...lle,+nsw+2069;+/list-1?source=location-search
Last sold for 1.7mil in July 2013.

Ok . Happy to stand corrected . ( though that's only 800.. )

Cliff

 

[jodes92]

This is nuts. You can squeeze into a small, but decent terrace in Paddo/Woollahra for $1.5m, or a nice house in the Inner West. Got to be some development angle to it otherwise all this is gonna end badly for some punters. But seeing I'm heavily exposed to the Sydney market, can't say I'm unhappy about what's transpiring before my eyes.

This. Why would someone buy a 2 bedder OTP in Parramatta foR $750k when you can buy similar in Woollahra/ Paddo for the same price??

 

[MsAli]

Sorry, I have to disagree. I've sold both a house and a unit, both for more than double the purchase price, and the prices are STILL rising.

Hi Skater, do you mean doubled from previous peak or prior (assuming you bought before previous boom)?

 

[skater]

Hi Skater, do you mean doubled from previous peak or prior (assuming you bought before previous boom)?

I bought the house in 2003, near the peak, but it was much lower than the median at the time. The unit we've only had for 5 years.

 

[monalisa]

Which agent are you using Monalisa

Skater, its La!ng & S!mmons MD