unit prices in Homebush West

[rafters]

Hi All
Saw an article in the weekend paper predicting best Sydney suburbs for growth %. Predicted that Homebush West will have 35% growth on the median price of houses in the suburb. There was a separate section on moving prices for units. No mention of Homebush west. If there is growth predicted for houses...does it automatically push up unit prices as well..or is there no correlation between the two? Opinions would be appreciated.Thx

 

[Propertunity]

Saw an article in the weekend paper predicting best Sydney suburbs for growth %. Predicted that Homebush West will have 35% growth on the median price of houses in the suburb.

Over what time period? I did not read the article, but be VERY careful of predictions, who is giving them and their underlying motive for doing so.

Sounds suss to me.

If there is growth predicted for houses...does it automatically push up unit prices as well..or is there no correlation between the two? Opinions would be appreciated.Thx

Not an opinion but fact: prices of houses can move in an entirely different direction to the prices of units in the same suburb, over the same time period. This is one reason why they are tracked separately.

 

[Propertunity]

Not an opinion but fact: prices of houses can move in an entirely different direction to the prices of units in the same suburb, over the same time period. This is one reason why they are tracked separately.

See attached chart comparing CG of units Vs houses in Homebush West as evidence
The chart also confirms my theory, that 35% growth anytime soon is dreamin'

 

[rafters]

Hmm..I can see...I was hoping for another answer There has not been much going on realestate.com.au in re to old units on Hampstead, Horsley etc....have they gone up more than the other side of Centenary Drive do you think?

 

[Rolf Latham]

Hi All
Saw an article in the weekend paper predicting best Sydney suburbs for growth %. Predicted that Homebush West will have 35% growth on the median price of houses in the suburb. There was a separate section on moving prices for units. No mention of Homebush west. If there is growth predicted for houses...does it automatically push up unit prices as well..or is there no correlation between the two? Opinions would be appreciated.Thx

I spent near 30 years there on and off, way before the Flemo markets were even there, chasing bunnies with my dog and air rifle.

Housing stock may see a big pick up once the development cycle starts again.

There are still lots of 700 - 900 sqm plots that have 3 story walk up zoning.

It doesnt follow that unit stock will increase at the same time, if the primary reason for the housing stock increase is due to the land being developed

ta
rolf

 

[Puma1355]

Your dreaming !