Sydney Metro prices in year 2020?

Discussion in 'Property Investment - Other' started by MightyWill, 25th Jun, 2014.

  1. MightyWill

    MightyWill MightyWill

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    Just curious as to your views on the average house and unit medium in 2020? Do you think all 2 bed 650 ? 750k units within 10kms will be worth the 1 million mark? I'm talking the average units; not the already 1 mil units with top floor water views.

    How about houses in the south, east, north and west within 30 km radius? Do you think they will rise by another 20 - 30%. A 850k house will rise up to 1.2 mil?

    2020 seems a long time away but it's really only 6 years from now.
     
  2. datto

    datto Member

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    I reckon you'll need at least 600K to get a house in the Druitt by then.

    I wonder what we'll be doing in 2020?:D
     
  3. nhg

    nhg Member

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    What factors would cause it to go up? Next big projects aren't till 2035.

    I reckon it will stay fairly flat after next year. Maybe 5% up tops.
     
  4. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Having thrown the entrails of a freshly sacrificed tenant, I would hazard a guess that prices will have grown by 23.5-27.5% over this period barring a major correction or stagnation in prices (possibly caused by interest rates rises, changes to FHBG, FIRB rules etc).


    So for the average punter (or the 2014 median house buyer at $850k) it will be around $1.05m - $1.08m.

    The numbers postulated by MW assume a year on year growth of just under 6% (which is not sustainable). Historic growth is between 4-4.5% pa
     
  5. DaveM

    DaveM KFC Buyers Agent

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    Thats about 7 years so property would have doubled by then
     
  6. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Not even 50% on Will's numbers Dave and about a third on mine.
     
  7. DaveM

    DaveM KFC Buyers Agent

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    But doesnt property double every 7-10 years? :D
     
  8. Richard Feynman

    Richard Feynman Mortgage Broker

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    100% guaranteed, or your money back.
     
  9. datto

    datto Member

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    Has it doubled in the last 10 years?
     
  10. MightyWill

    MightyWill MightyWill

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    Some units in certain suburbs have nearly doubled but they are on year 7.
     
  11. norwoodman

    norwoodman Member

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    Not in Sydney, but it did in other places (including a few major cities).
     
  12. WattleIdo

    WattleIdo Member

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    Yes MW but you might be surprised which ones ... ;)
     
  13. RetireRich101

    RetireRich101 Member

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    based on median prices, anyone know a Sydney Metro suburb achieved double or more?
    specifically median prices for a suburb, not individual properties you/your mate purchased at a discount or did reno.
    shouldn't be that difficult right, since 2004-2005 was a large fall in Sydney across board?
     
  14. Moneyman_85

    Moneyman_85 Member

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    Already happening

    Didn't you see that $900K house that sold in druitt lol