Interested to know if anyone here bought in Sydney in those years and are now sitting pretty close to a doubling. If not doubled yet what percentage do you need to double. If have renovated just include that in the conversation.
Who Bought in Sydney 2003/2004/2005/2006? And What Value is it Now (2014)?
- Thread starter charlieandkath
- Start date
I bought my Meadowbank unit in 2004 for $288K. Sold it earlier this year for $515K. Spent about $6k on new kitchen and carpet.
I did look at selling it last year and would have got approx $410K so glad I waited.
Nothing startling but I was a newly investor. My future purchases were much better.
I did look at selling it last year and would have got approx $410K so glad I waited.
Nothing startling but I was a newly investor. My future purchases were much better.
I bought in 2560 in 2006 for $210,000. Similar houses in the area now selling for high $300's.
We did renovate when we bought, probably needs another reno now
We did renovate when we bought, probably needs another reno now
Bought a PPOR in Caringbah, Sydney South in 2003 for 470k, very run down house.
Right now in the same condition it would be worth just under 700k, so only up a couple hundred in 11 years.
Sold it a couple years ago.
Right now in the same condition it would be worth just under 700k, so only up a couple hundred in 11 years.
Sold it a couple years ago.
bought in all those years, 03,04,05,06. All properties have almost doubled, some have more than tripled.
some of the suburbs include: Quakers hill, Blacktown, Bondi, Manly, Mount gravaat, Holland park west, holland park, Moorooka, Salisbury, Ermington, Newtown.
All were bought under market value at the time and all had scope to add value.
Leo
some of the suburbs include: Quakers hill, Blacktown, Bondi, Manly, Mount gravaat, Holland park west, holland park, Moorooka, Salisbury, Ermington, Newtown.
All were bought under market value at the time and all had scope to add value.
Leo
I bought a 2 bedroom unit in Mortdale in 2009. For $360,000. Dunno what it's worth now, and there's very little for sale similar to get a guide. When I bought in middle of GFC there were dozens and dozens for sale.
It was part of a farm succession plan and my brother now owns it, not me. I'd guess it's worth about $500,000?
See ya's.
It was part of a farm succession plan and my brother now owns it, not me. I'd guess it's worth about $500,000?
See ya's.
Harris Park 2007 (same era)
Bought for $197K - valued @ $375K a couple of months ago. Would've sold for $400K+ at the height of the frenzy.
Spent $6K on kitchen, $3K on bathroom, $2K+ on polishing the floor and $1K on paint.
Interesting that reported values in the suburb dropped to exactly my valuation once it came through.
Bought for $197K - valued @ $375K a couple of months ago. Would've sold for $400K+ at the height of the frenzy.
Spent $6K on kitchen, $3K on bathroom, $2K+ on polishing the floor and $1K on paint.
Interesting that reported values in the suburb dropped to exactly my valuation once it came through.
We bought our first IP in 2007 Quakers Hill
Paid $225K. Rent $220pw.
Last one in complex sold for $409K and rent is now $380pw.
Repairs and replacements under $1000 over the 7 years.
Onwards and upwards.
Paid $225K. Rent $220pw.
Last one in complex sold for $409K and rent is now $380pw.
Repairs and replacements under $1000 over the 7 years.
Onwards and upwards.
Well done on Quakers Hill purchase mate. !
We purchased a house in QH.. I don't remember how many years ago to be honest but about 4 years. Paid 288k. Just last year was valued at 580k. Renting today at $465/week.
That whole area has just exploded!
Leo
We bought our 1st property/PPOR in May 2005 a 2 bed unit in Mona Vale NSW. Peak of the market & bought at Auction paying too much/emotional buy $531K revalued May 2014 $675K. Planning to revalue again in Feb 2015 as the market has moved & should come back somewhere over $700K.
We spent $28K on internal renos and body corporate has reno'd the block so we had to chuck in an extra 13K for that.
Not the best purchase in the world but not the worst either.
We spent $28K on internal renos and body corporate has reno'd the block so we had to chuck in an extra 13K for that.
Not the best purchase in the world but not the worst either.
With what we know now we would never have bought the Mona Vale unit. We have no regrets as such, it is a great place to live. We have recently moved back in to save some money towards IP3 and we love the location. Only need to take your head off the pillow to check out the surf & only a short walk drive to the shops/village.
If we had our time over and armed with some better knowledge we would have rented in Mona Vale and bought elsewhere probably western Sydney house rather than a unit.
If we had our time over and armed with some better knowledge we would have rented in Mona Vale and bought elsewhere probably western Sydney house rather than a unit.
Hey Magnet,
In hindsight I would also do some purchases different. I guess the main thing is that we learn from our past purchases.
To be honest I was more referring to buying at the peak of a cycle and buying emotionally at auction. I hope this wouldn't be repeated. But otherwise well done to you building your portfolio! well done.
Leo
Amazing results on this thread (great idea btw).
To put some context the the amazing achievements, over the last ten years, Sydney's median house price should be about 45% higher (3.8% p.a. growth).
Doubling the property value is effectively doubling the 'market' return. Amazing work!
Time in market + buying well (under market value) + adding value = one very lethal combination to sucess.
Cheers,
Redom
To put some context the the amazing achievements, over the last ten years, Sydney's median house price should be about 45% higher (3.8% p.a. growth).
Doubling the property value is effectively doubling the 'market' return. Amazing work!
Time in market + buying well (under market value) + adding value = one very lethal combination to sucess.
Cheers,
Redom
