Who Bought in Sydney 2003/2004/2005/2006? And What Value is it Now (2014)?

[charlieandkath]

Bought several in 2770 between 2004-2005. Just sold one. Purchase price was $180k, sold for $418100.

This post of skaters in a different thread was what made me get the idea to start this thread. Great result Skater.
Well done to everyone who has had success. Lots of different results but still some really good growth and re -iterates the fact not to give up too early and hold for the long term if you can.
I really believe that as long as world population and Australian population keeps increasing there is no limit to prices in Sydney, especially if you buy in great areas. It is the ultimate city in the ultimate country in my opinion.

 

[charlieandkath]

Great post. Personally I would add into that equation:

Sensible Guesstimating of Timing the market + Time in market + buying well (under market value) + adding value = one very lethal combination to success

Because if someone bought at the peak of a boom then the rest of the equation could be (not definitely) greatly ineffective imho.





Leo

Great equation Leo and 100% agree.

 

[WattleIdo]

Purchased around the Parramatta region in 2003.
Could have bought it for roughly the same price in 2008.
(A mate of mine bought in the same suburb for more in the same year, renovated, then sold for less in 2008)

Last bank valuation (last month) indicated it had doubled in price. Most of the growth occurred between 2008-2010, then 2013.

Exactly right.

 

[LeoT]

Great equation Leo and 100% agree.

Hey CharlieandKath,

While i certainly agree with it, i cant take credit for it, it was Redom who posted the equation.

Cheers

leo

 

[Newbieatlife]

Interesting observations...

most have held properties for a period of 5 - 10 years
most are not selling their properties even after significant growth
most have seen the majority of growth over the past 2 - 3 years and have had to 'stomach' 5 years of stagnant or negative growth
those who seem to have come out on top are the ones with a hoard of cheapies with enough cashflow to finance more


good lessons for those starting out or have only started recently...

 

[Redom]

Hey CharlieandKath,

While i certainly agree with it, i cant take credit for it, it was Redom who posted the equation.

Cheers

leo

Thanks Leo. Definitely can't take credit - i'm only summing up some lessons you and other experienced investors have posted on SS.

Cheers,
Redom

 

[Nem]

Purchased house in Merrylands in 2009, 400K, invested around 100K in renovations, now its somewhere around 800K

 

[Danieljk101]

Bought in Quakers Hill in 2009. Was a 1000sqm, 3 bedroom house close to the station. Sat on the market for almost a year. Paid $395,000 and similar properties are going for $700,000 to $800,000.

We are in the process of trying to get a sub division through Council. Combined value should be about 950k if successful.