West Sydney

MTR

MTR

HI All
Can I have an update, is the market still hot/moving, lack of stock under $400,000, I am looking at revaluing a property would be keen on info.

Cheers,
MTR
 
MTR said:
HI All
Can I have an update, is the market still hot/moving, lack of stock under $400,000, I am looking at revaluing a property would be keen on info.
Cheers,
MTR
Click to expand...

W Sydney market still very hot. Lack of stock in the $300-400K range. Agents buying their own listings (the actual property!). Most well priced properties selling either before the first Saturday Open or the afternoon of.
No let up in sight.
 
Yep...got one out near Penrith and the markets very healthy and very little stock on the market. I'll be thinking about a reval myself shortly!

Jack
 
Yes agree I have been to a few recent auctions and phoning agents trying for bargains , some properties are expressions of interest only in which where I am looking have not seen this at all so it is hot and getting hotter , waiting for the cooling down time maybe?.

Macca
 
Also have a place out near penrith, from recent sales in the area and also in my block of units, prices have moved up quite abit since I bought 7 months ago. re-val could be on the cards soon :)
 
Propertunity said:
Most well priced properties selling either before the first Saturday Open or the afternoon of.
No let up in sight.
Click to expand...

Whatsup with that? If the agent is keen on buying then why go through the process of listing on domain and re.com.au?

Just in the last month or so I came across stock in the 450-500 range go 'under contract' the same the day it was listed on re.com.au. Agents seem to not have the time to update the ad to 'under contract' in some cases! Waiting till Saturday is a thing in the past for Western Sydney. I dont see any slow down of West for rest of this year.
 
Low interest rates + high rents = FHB buyer frenzy.

Not surprisingly, the suburbs around Penrith LGA that have crazy house sales also have a rental slump. My PM for the area says they are running open homes where nobody turns up and they are dropping rents to get tenants in as there is lots of rental stock on the market.
 
The market is really hot these days - I listed my seven hills property for sale in Oct last year and the maximum offer was 385k. Re listed recently and it's already under contract for 410k . Market moved a lot since January.
 
Aaron_C said:
I apply the same rule here in Melbourne. I don't venture past Spencer Street going West :)
Click to expand...

Good that no one said west of tasman sea or south pacific ocean :)

I think somewhere closer to west of sydney olympic park, not sure about exact boundary because even newington is mentioned as "inner west"
 
ndpjai said:
I think somewhere closer to west of sydney olympic park, not sure about exact boundary because even newington is mentioned as "inner west"
Click to expand...
Here is a map from the DoP

This is how Sydney boundaries are defined. So.. olympic park is not innerwest unless it comes under any of these inner west LGA :)

SYDNEY CITY
EAST Botany Bay, Randwick, Waverley, Woollahra
INNER WEST Ashfield, Burwood, Canada Bay, Leichhardt, Strathfield
INNER NORTH Hunters Hill, Lane Cove, Mosman, North Sydney, Ryde, Willoughby
NORTH EAST Manly, Pittwater, Warringah
SOUTH Canterbury, Hurstville, Kogarah, Marrickville, Rockdale, Sutherland
 
Met the local agent in Toongabbie today, who showed us the recent sales they have made. One of them was listed for "Offers Over" $435k and sold for $500k. Sydney is absolutely insane right now. I'd like it to slow down.
 
Newcastle is going toe to toe with Western Sydney. Client went to the first open home last saturday - 17 people at the open house, 6 people placed an offer, sold same day. I called an agent re a property that was listed this week - agent said sorry sold
 
TheFinanceShop said:
Newcastle is going toe to toe with Western Sydney. Client went to the first open home last saturday - 17 people at the open house, 6 people placed an offer, sold same day. I called an agent re a property that was listed this week - agent said sorry sold
Click to expand...

In Toongabbie the agent said 30-40 people through an open home :eek:
 
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