Sydney market dead.... NOT! New $23M record this year.

Hi Guys,

Well we all know that Sydney is now the backwater and the resource states is where all the action is. Noone thinks Sydney is relevant any more and its just dying of dereliction and disrepair under massively incompetent government. Noone in their right mind would consider buying in this has-been backwater. Well, that's the story you'll get if you listen to the nouveau riche miners with their 10 gallon hats and big plots of red dirt. But there's always another angle to the story...

Murdoch forks out $23m to head for the hills

SMH said:
OOH LA LA! Le Manoir, a grand Georgian house in Bellevue Hill, was sold to media scion Lachlan Murdoch at auction last night for $23 million, setting the Sydney house price record of the year.

The previous record price for Sydney this year was $18 million, which James Packer and his wife, Erica, paid for a 2374-square-metre Vaucluse property sold by executors of the estate of the oil shale pioneer Sir Ian McFarlane.

Sydney, frankly, is magnificent. In all its neglected, congested glory it still ranks as one of the worlds most desirable cities. The harbour IMHO is unparalleled. The climate is spectacular and it is spoilt for beaches. The city has energy and exuberance and the people are friendly, well travelled and stimulating.

It may be irrelevant today, but tomorrow when the world wakes up again, and awakes to the brilliance of the premier city in the premier state, then the patience of those that appreciate its appeal will be rewarded...

$23M? Peanuts. That'll be worth double that amount in 5 years time.

Cheers,
Michael
 
  • Like
Reactions: BV
Hi Guys,
Sydney, frankly, is magnificent. In all its neglected, congested glory it still ranks as one of the worlds most desirable cities. The harbour IMHO is unparalleled. The climate is spectacular and it is spoilt for beaches. The city has energy and exuberance and the people are friendly, well travelled and stimulating.

This I certainly agree with.
And certainly don't agree with your first paragraph.
I'm not sure Lachlan is all that worried about house values, it's probably a holiday house.
And I would'nt use that price as an indicator either. But it's nice to know.
 
..but tomorrow when the world wakes up again, and awakes to the brilliance of the premier city in the premier state, then the patience of those that appreciate its appeal will be rewarded...
I'm dry reaching :p

A friend of mine (engineer from overseas) earns the big bickies in the WA mines, was lured by the lights and dazzle of Sydney as a place to invest some of his $. After 6months or so of fly in fly out (mines to Sydney), the glitter wore off, and he realised that the type of property he was after was still overpriced..

What did that last HTW report say? Still in the bottom of the market.. after 6yrs? ...ouch :p:p

I'm mainly stirring ;)
 
After 6months or so of fly in fly out (mines to Sydney), the glitter wore off, and he realised that the type of property he was after was still overpriced..

Or maybe too much for him ;)
I'll happily admit I can't afford them yet.
But there are some (relative) bargains around the 2-4mil out there.
But these properties take a lot of searching and going through all those shoreline nook & crannys.
 
I liked Sydney when i was there, really, i did.

but it takes ages to get anywhere, public transport is poor (at best) and there's just tolls, tolls, tolls.

what really stung me was how hard it is to even walk through the inner city suburbs. through Perth I can walk from the Rosemount, to the Hyde, then stroll 10 mins into Northbridge to the E&Wb, then across to the Court, across town through malls to the Melbourne, then jump on a free CAT service back to the train station and be dropped off within 15min of my beachfront home.

mind you, pubs are the only thing open in Perth at night, and after 6pm the CBD is a ghost town with tumbleweeds, but horses for courses.

Sydney needs new government - desperately. One focussed on linking the city's pockets together with a subway-style train, not more huge buses congesting the already poor road service.

I think there should be some federal funding for that. If i saw evidence of that STARTING (Not just 20 years worth of promises that it will), THEN i would look at the sydney market.
 
hi all
the 5mil and up market is a very difficult market to price and buy right in unless you know that market very well
and if you are going to buy into it you do have to know it.
and thats not sydney thats this bracket of property.
its also where most hurt is at the moment as banks hold it holding margin calls
if you want a bargin then go to michael back garden of palm beach and move down anything above the 3 mil area is or will take a hair cut and thats not a trim thats a crew cut and not with a scissors its with a blunt knife.
but the same can be said for soverign island or miami keys qld or even airlie beach.
this price bracket is driven by the area but also is very driven by value and most of all not price but by want.
and if the want is there then the price and the hurt comes later.

by far sydney is the best place to live I think the close second is about 2klm west of the mark
say what you like about the value but the best place to live is here.
if you gave a list of where to live to most people on this rock sydney would be in the top 10 on anyones list why
because its simple great and has a multi different areas to see with lots of different people
 
my opinion is that a property selling for $23 million is of no relevance to the majority of the population.

It really only concerns people with too much money at there disposal, non of which would beon this forum i wouldnt have thought...
 
Perth has awesome beaches, but for god's sake don't go in the water unless you want to be shredded by a reef or taken out to Rotto by a rip or four....

or dumped...
 
tomorrow when the world wakes up again, and awakes to the brilliance of the premier city in the premier state, then the patience of those that appreciate its appeal will be rewarded...

Cheers,
Michael

Michael

I agree 100%,
I've been to a lot of places and IMO apart from the transport system (which will be fixed one day) we live in the best city in the world.


cheers
 
id have to agree Perth is much easier to get around and there is no hurry to get anywhere over here,were as sydney in peak hour it took me 1 hour to get from cremorne to crows nest. all in all id say perth is a friendlier city that sydney. horses for courses but.:)
 
Nice post MW - full of passion and a healthy dose of tongue in cheak. Have to agree Sydneys beaches best in Australia. The thing about sydneys beaches is that its not just about the sand which is great. There are lots of them, close to the city and they are interesting in terms of topography and the variety. My granparents live in Vaucluse (the ocean side not the uber expensive Harbour side) and I have been holidaying there for 38 years. You have the pick of 6 beaches within 15 minute drive. Some face east, some face south some face west. Some are ocean beaches some are harbour beaches. Many are sheltered some are not. Awesome.
 
Sydney beaches are bloody horrible.

The water is simply too cold for my liking. It's not until about Coffs Harbour and above that the water is nice and warm.

i'd reckon the water temp of the Gold Coast in winter is similar to Sydneys in summer. Any beach with warm water is better than one with cold water.


See ya's.
 
id have to agree Perth is much easier to get around and there is no hurry to get anywhere over here,were as sydney in peak hour it took me 1 hour to get from cremorne to crows nest. all in all id say perth is a friendlier city that sydney. horses for courses but.:)

im glad i cycle and walk to work, i hate driving in. lots of tailgaters and impatient ragers. they stress me out. I do the speed limit of 60 and 90% will fly past me

i have a lovely relaxing cycle alongside the river heading into east perth where i work.
 
You have the pick of 6 beaches within 15 minute drive. Some face east, some face south some face west. Some are ocean beaches some are harbour beaches. Many are sheltered some are not. Awesome.

I hear what you are saying - I can't understand why Cottesloe is so expensive with that afternoon sun and all the wind! Perth beaches are blown out by about 11am, which is why most people have a second home in Dunsborough...north and east facing beaches are pretty rare in WA! Rockingham has some very under rated beaches as well.

interesting trend - I notice a lot of my neighbours are now spending two thirds of their time in Dunsborough and less in the city. The city house is becoming the weekender. Not for me personally, as am a bit younger wth kids about to start school.

I too hate cold beach water... the trade off is nasties in the water. The Irigangee (spelling?) in Broome can supposedly render you dead within 24 hours!
 
Top