Fantastic - go buy the local Maccas or Red Rooster outlet then.
Riff raff flock to them like moths to a spotlight. Always a solution to any demographic situation.
Sydney and Central Coast - we have lift off
- Thread starter sash
- Start date
Fantastic - go buy the local Maccas or Red Rooster outlet then.
Riff raff flock to them like moths to a spotlight. Always a solution to any demographic situation.
Might be too late....the local shopping centre (Deep Water)....has had a reno and not more vacant shops.
The Maccas...is standing room only on weekends......the bogans (aka riff raff) have become CUBs (Cashed up bogans)........
The cafe latte set has started moving in......young families seem to like the fact the morning commute is similar to coming in to the Sydney CBD from Campbelltown.
The Maccas...is standing room only on weekends......the bogans (aka riff raff) have become CUBs (Cashed up bogans)........
The cafe latte set has started moving in......young families seem to like the fact the morning commute is similar to coming in to the Sydney CBD from Campbelltown.
It is crazy out there, specially parramatta/blacktown/further outer west. Seen few properties gone literally in hours. I'd started looking around november last year, and now it's been tougher.
Been focusing on Marsfield area the last few years.
Went to an auction on Saturday for a 2 bed townhouse 7min walk to station,uni,
and Macquarie shopping centre,
The last townhouse in this complex sold just prior to Christmas for 470,000,
Two keen wealthy families ending up bidding for their children and ended up
paying 570,000, even the owner could not believe it. approx 100 at attendance
and 15 registered bidders.
Noticed the townhouses around Trafalgar rd which 6 months ago were selling
for low 400's are now being advertised for offers over 490 and usually have
under contract on them.
Went to an auction on Saturday for a 2 bed townhouse 7min walk to station,uni,
and Macquarie shopping centre,
The last townhouse in this complex sold just prior to Christmas for 470,000,
Two keen wealthy families ending up bidding for their children and ended up
paying 570,000, even the owner could not believe it. approx 100 at attendance
and 15 registered bidders.
Noticed the townhouses around Trafalgar rd which 6 months ago were selling
for low 400's are now being advertised for offers over 490 and usually have
under contract on them.
Are you crazy sash? I dont know what you base this stuff on.
The biggest laugh on the peninsula is Gloria Jeans at Deepwater Plaza on cheque day. Its like the Jerry Springer show on steroids. Seriously funny. If that's the definition of the latte set, then so be it.
But if you're into recreational drugs, i can introduce you to a few people.
Have a look at the vacant shops in Ettalong and Umina. There are a LOT for small retail strips. Its a seriously economic depressed area and will be for a long, long time.
As for the pubs (Ettalong Hotel, The OB at Umina and Bayview and the Old Pub at Woy Woy). They are absolutely overflowing with dole bludging, pokie playing, drug taking riff raff.
I know half of em lol
While there are an increasing amount of families priced out of Sydney moving up there (i know heaps of em as well) they are pretty broke and the commute down the F3 is an absolute nightmare. I did it for a couple years and its not at all comparable to Sydney Campbelltown.
In fact most of the commuters arent CBD workers but tradies, unskilled, manual laborers etc working in the Sydney suburbs.
There is VERY LITTLE work in the peninsula area and in the bottom end of the central coast.
There will be no gentrification of the Woy Woy peninsula for a very long time, if ever, people have been waiting 20 years+ and it still hasnt happened.
I know of so many families that have moved back to Sydney as the...errr...demographic....wasnt for them.
And thank god for the GFC and lower rates, massive stimulation, FHBG boost etc etc and it still didn't push the prices much.
Regardless, good luck with it.
BTW: You're better of buying one of the many, many houses with separately rented granny flats (mostly non approved but the Gosford council generally turn a blind eye) for increased yield. But still the low cap growth is the killer up there.
The biggest laugh on the peninsula is Gloria Jeans at Deepwater Plaza on cheque day. Its like the Jerry Springer show on steroids. Seriously funny. If that's the definition of the latte set, then so be it.
But if you're into recreational drugs, i can introduce you to a few people.
Have a look at the vacant shops in Ettalong and Umina. There are a LOT for small retail strips. Its a seriously economic depressed area and will be for a long, long time.
As for the pubs (Ettalong Hotel, The OB at Umina and Bayview and the Old Pub at Woy Woy). They are absolutely overflowing with dole bludging, pokie playing, drug taking riff raff.
I know half of em lol
While there are an increasing amount of families priced out of Sydney moving up there (i know heaps of em as well) they are pretty broke and the commute down the F3 is an absolute nightmare. I did it for a couple years and its not at all comparable to Sydney Campbelltown.
In fact most of the commuters arent CBD workers but tradies, unskilled, manual laborers etc working in the Sydney suburbs.
There is VERY LITTLE work in the peninsula area and in the bottom end of the central coast.
There will be no gentrification of the Woy Woy peninsula for a very long time, if ever, people have been waiting 20 years+ and it still hasnt happened.
I know of so many families that have moved back to Sydney as the...errr...demographic....wasnt for them.
And thank god for the GFC and lower rates, massive stimulation, FHBG boost etc etc and it still didn't push the prices much.
Regardless, good luck with it.
BTW: You're better of buying one of the many, many houses with separately rented granny flats (mostly non approved but the Gosford council generally turn a blind eye) for increased yield. But still the low cap growth is the killer up there.
Might be too late....the local shopping centre (Deep Water)....has had a reno and not more vacant shops.
The Maccas...is standing room only on weekends......the bogans (aka riff raff) have become CUBs (Cashed up bogans)........
The cafe latte set has started moving in......young families seem to like the fact the morning commute is similar to coming in to the Sydney CBD from Campbelltown.
Thank god for the GFC. (lowest rates in 40-50 years, massive stimulus, FHBG boost, etc etc). It was artificially created growth.
Yeah...yeah...I know....you said that about Granville, Merrylands, Guildford....they have gone up betweem 80-120k since early last year.
I will go with my gut......you can always tell me I told you so if I am wrong!
If we didn't have the GFC, the economy would probably have been strong enough to keep prices going all by itself. Though the RBA was already trying to curb that by raising rates.
Yes, but any influence by the government including -ve gearing etc are all artificial. Why would anyone expect such a politically powerful thing as property (70% of voters want higher property prices because they're also homeowners) to be free of government influence? And why would you NOT expect the government to intervene if the market crashed?
The question to me is not whether the growth was artificial, The stimulus was the sort of thing you'd expect the government to do. It was more likely that the government would do something to try to prop things up than just let it fall. The more interesting question is whether it's sustainable. Will the economy be strong enough to replace the stimulus as it gets pared back? Who knows. I've been tipping a flat market for years and I've been wrong.
Alex
I don't think there will be a flat market in Sydney, Central Coast, Newcastle or Wollongong.
The population pressures in these markets are high......mostly through immigration and natural growth. Whilst NSW does lose a lot of the less skilled to other states....it gains in skilled migrants.
I went to a Bill Zheng seminar yesterday and Residex was presenting. They were saying there will be more growth in NSW. The markets above are the strongest they have been on over 6 years.
If you look North and South of Brisbane and Perth....say 50-60 klms each way...the prices are similar to the Central Coast or much higher. That has not happened for a long time....so the cycle is now prime for these areas.
The population pressures in these markets are high......mostly through immigration and natural growth. Whilst NSW does lose a lot of the less skilled to other states....it gains in skilled migrants.
I went to a Bill Zheng seminar yesterday and Residex was presenting. They were saying there will be more growth in NSW. The markets above are the strongest they have been on over 6 years.
If you look North and South of Brisbane and Perth....say 50-60 klms each way...the prices are similar to the Central Coast or much higher. That has not happened for a long time....so the cycle is now prime for these areas.
Then we have a difference of opinion.
Positive as a long term fundamental, not short term, in my opinion. The increased population can always choose to rent instead, pushing up rents without necessarily pushing up property prices.
Pretty meaningless considering how crap sydney was from 2003 - 2008. I think Sydney has good fundamentals. Doesn't mean we're on the cusp of a boom. Having said that, I haven't sold anything so if there's a boom I benefit.
Alex
Again, a fair defintion. But surely it was expected. The only thing that was not expected was its success and how well Australia has weathered the GFC. I certainly didn't expect us to have done nearly so well, otherwise I would have bought more into the downturn in 07-08.
Isn't this exactly what the government is expected to do? Provide stimulus when the market appears to be in danger of stalling? While stimulus cannot be expected to support the economy long term, a plunge feeds on itself beyond all fundamentals. The stimulus supports the economy long enough for more 'normal' growth to kick back in. It's to smooth the business cycle, not supplant it.
The more cynical view is that since everything is based on faith in fiat money and fiat money is supported by nothing but government promises, stimulus is to prevent the people from realising it's all an illusion. As long as you can keep people believing, the system works.
Alex
Do you mean the 2000 postcode Alex, or the swath of area plus or minus 100km in any direction except east ??
General opinion on the city compared to the other capitals at this point in time. My focus is the 20-40km radius from the CBD.
Alex
Yes....very interesting....the Chinese are slowly started to back the Yuan with Gold and reduce reliance on the $US.
In the international markets....the Aussie is now considered more closely pegged to the China's economy. Thus, so long as we dig things out of the ground and sell it to China we should continue to do well. Frankly, I am surprised how quickly Australia has decoupled from the US and EU economies. This is a good thing because we are more reliant on Asian economies like China, India, ASEAN, South Korea, and Japan.
We have Hawke, Keating, & Howard to thank for guiding Australian economy to be less reliant on the US and EU. Though the later did have a very stong relationship with the US.
The other reason we have a strong property market is because our local banks are extremely strong and continue to lend albeit they have tightened but no where near the US and UK. This is a good thing.
To the naysayers shouting from the roof tops shouting about a crashing property market.....my view is not yet.
The median wage in 1990 was about 30k today it is 60K. The median house price in 1990 was 185k and now it is about 560k in Sydney. The it was just over 6 times wages.....now it is about 9 times.
People complain about not being able to afford a house...it is more that people have higher expectations and want a house closer to the city in a nice suburb. Still plenty of houses for 280-350k in Penrith, Blacktown, and Campbelltown, Liverpool which are close to rail. Might need some paint and carpet...but still a house to start. A young couple on a 100k combined income (about 80k after tax if each earns 50k will easily be able to afford these houses).
It is more about will power than affordability.
In the international markets....the Aussie is now considered more closely pegged to the China's economy. Thus, so long as we dig things out of the ground and sell it to China we should continue to do well. Frankly, I am surprised how quickly Australia has decoupled from the US and EU economies. This is a good thing because we are more reliant on Asian economies like China, India, ASEAN, South Korea, and Japan.
We have Hawke, Keating, & Howard to thank for guiding Australian economy to be less reliant on the US and EU. Though the later did have a very stong relationship with the US.
The other reason we have a strong property market is because our local banks are extremely strong and continue to lend albeit they have tightened but no where near the US and UK. This is a good thing.
To the naysayers shouting from the roof tops shouting about a crashing property market.....my view is not yet.
The median wage in 1990 was about 30k today it is 60K. The median house price in 1990 was 185k and now it is about 560k in Sydney. The it was just over 6 times wages.....now it is about 9 times.
People complain about not being able to afford a house...it is more that people have higher expectations and want a house closer to the city in a nice suburb. Still plenty of houses for 280-350k in Penrith, Blacktown, and Campbelltown, Liverpool which are close to rail. Might need some paint and carpet...but still a house to start. A young couple on a 100k combined income (about 80k after tax if each earns 50k will easily be able to afford these houses).
It is more about will power than affordability.
Everywhere? On Pitt St? 10% on a long term viable lease?
I've been looking for quite awhile and trying at least to bargain but I've never seen those factors come together yet. Any agent I speak to says 9%? Not in THIS part of Sydney... I've definitely seen 9% but not 10% to a reputable tenant on a strong 5yr+ lease.
If you see something with all that, can you give us a 'hoy?
Cheers!
I meant all over Sydney & suburbs. Of course REAs aint usually just going to offer it.
And if Dazz can pick one up from Perth, surely we locals here can do better lol.
Last few days I've started taking a keen eye to city, it reminds me of Brissie in 2002. I have to spend a few days there and see if I have any contacts though.
I have no problem sharing with ya anything interesting.
But I'm pretty patient and don't think its goin anwyhere in a hurry, so it may take me a while.
Less reliant? Sure. But our main export is iron ore, coal, gas, gold, copper, food. The US, all of Europe, Japan etc manufacture stuff, and they are being blown out of the market by the new asian manufacturing countries and that's not likely to change now.
We got lucky due to the fact we don't manufacture hardly anything. It would have taken some very poor governing to sink our ship with the natural mineral, energy and land wealth we have here. Krudd could have done it with his crazy ETS scheme.
See ya's.
The Government has been selling off a lot of Housing Commission in these areas and alot of these have been snapped up by young families who have been priced out of the western Suburbs of Sydney. I have no investment anywhere near this area so no bias but I think you may not be as far off off the mark as being suggested. I am not saying that these areas will be the next Neutral Bay but there is a few positives there.
On the flip side of the coin they are moving alot of the outer Housing Commission in to places like Hornsby and Ryde. Wouldn't be touching investments around these areas if they keep going this way.
ok, we all now what the current state of affairs that the NSW government is in...and that when they make their promises about spending on infrastructure it should be disregarded until construction has actually began...
With this in mind, the only development of any significance in NSW this year and in the next few years is in the Newcastle area. Coal/Train/road spending to the tune of $3.4 locked in to begin this year.
This has got to mean good things for the area!
I like the direction that Newcastle and the surrounding areas are heading.
With this in mind, the only development of any significance in NSW this year and in the next few years is in the Newcastle area. Coal/Train/road spending to the tune of $3.4 locked in to begin this year.
This has got to mean good things for the area!
I like the direction that Newcastle and the surrounding areas are heading.
So I hear....I think it is a bit safer to buy in the Western suburbs than Ryde.
I hear that they are buidling units which cannot be objected to....Kristina Kennealy is an idiot. She stuffed so many things in planning.
I am also hearing when they do sell of the Housing Commission houses they are only replacing them with 1 & 2 brm units. Go figure??
Looks like they are only interested in housing couples, singles, and older people.
I hear that they are buidling units which cannot be objected to....Kristina Kennealy is an idiot. She stuffed so many things in planning.
I am also hearing when they do sell of the Housing Commission houses they are only replacing them with 1 & 2 brm units. Go figure??
Looks like they are only interested in housing couples, singles, and older people.