Where to buy 650K in Sydney

I just missed out on a new build at Schofields in 2010 that was on the market for 525K. It seemed quite pricey at the time but I'm sure I'd be doing ok with that same property now.
 
Prices seem to be softening a bit at the lower end in some suburbs. Quite a few sub 600K sales in Greystanes in the past few weeks. 6-8 months back you couldn't buy anything at that price.
 
Thats good for the buyers. It has to slow down, no way sydney people were able to afford if it was still rising at that pace.

I think some RE agents are trying to hike the prices based on the demand but one of the agent mentioned the open houses are not able to attract the crowds at high prices though

beachgurl said:
Prices seem to be softening a bit at the lower end in some suburbs. Quite a few sub 600K sales in Greystanes in the past few weeks. 6-8 months back you couldn't buy anything at that price.
Click to expand...
 
write2abdul said:
Thats good for the buyers. It has to slow down, no way sydney people were able to afford if it was still rising at that pace.
Click to expand...

I had one of the agencies (Parra region) call me this week... asking we were looking to buy back in 2009, and whether we have bought anything since ... I was like ummm... yes!!! Must be number of buyers starting to drop. The agent said buyers are being careful, and market is stabalising - and not as crazy as it was pre-Easter.

Our PM's view is that its tax time, and winter... but markets didn't slow down last winter.

MsAli had a call from an agency past Blacktown, asking if we are looking to buy.
 
Thats the statement I also got from one of the agent..

"The buyers and banks are cautious now as they are unsure where the market would go. So they are already telling the vendors not to expect them to sell at fancy prices they had in the last 8 months. "

monalisa said:
I had one of the agencies (Parra region) call me this week... asking we were looking to buy back in 2009, and whether we have bought anything since ... I was like ummm... yes!!! Must be number of buyers starting to drop. The agent said buyers are being careful, and market is stabalising - and not as crazy as it was pre-Easter.

Our PM's view is that its tax time, and winter... but markets didn't slow down last winter.

MsAli had a call from an agencies past Blacktown, asking if we are looking to buy.
Click to expand...
 
write2abdul said:
Thats the statement I also got from one of the agent..

"The buyers and banks are cautious now as they are unsure where the market would go. So they are already telling the vendors not to expect them to sell at fancy prices they had in the last 8 months. "
Click to expand...

How is your search coming along? I noticed you are looking to build. Where are you looking to build?
 
Thanks Monalisa for checking :)

Still going on... Slowed it down a bit due to long work hours and due to the shortage of good houses

Yes, I was exploring the options of buying land in Quakers hill/Schofields and building but when checked with few mortgage agent they felt its too risky for me at the moment as I only have 5% deposit(650-700K)+ stamp duty.

Land(> 500 sqm) is around 450-500K + build cost around 250-280k for a single storey so its over my budget

I cant also look at old properties which need little bit reno as the bank wont finance the reno cost initially :(




monalisa said:
How is your search coming along? I noticed you are looking to build. Where are you looking to build?
Click to expand...
 
write2abdul said:
Thanks Monalisa for checking :)

Still going on... Slowed it down a bit due to long work hours and due to the shortage of good houses

Yes, I was exploring the options of buying land in Quakers hill/Schofields and building but when checked with few mortgage agent they felt its too risky for me at the moment as I only have 5% deposit(650-700K)+ stamp duty.

Land(> 500 sqm) is around 450-500K + build cost around 250-280k for a single storey so its over my budget

I cant also look at old properties which need little bit reno as the bank wont finance the reno cost initially :(
Click to expand...

Hang in there :)
 
write2abdul said:
Thats good for the buyers. It has to slow down, no way sydney people were able to afford if it was still rising at that pace.

I think some RE agents are trying to hike the prices based on the demand but one of the agent mentioned the open houses are not able to attract the crowds at high prices though
Click to expand...

That's right. And don't let anyone try to convince you to buy into a 'stabilised'/unaffordable market. Probably just trying to make a profit out of it themselves. Glad you got some professional advice.
 
Wow to my suprise, I had one another agent called me yesterday around 7 pm to check if I would interested to check one of their property on a friday afternoon before the actual open home on saturday.

This property is on the market for more than a week now. Maybe he got a low turn out at his first open home :D


write2abdul said:
Thats the statement I also got from one of the agent..

"The buyers and banks are cautious now as they are unsure where the market would go. So they are already telling the vendors not to expect them to sell at fancy prices they had in the last 8 months. "
Click to expand...
 
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