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2 bed TH sold for record price at auction - Sydney still hot?

Discussion in 'The Buying & Selling Process' started by Mumbai, 29th Jul, 2016.

  1. Mumbai

    Mumbai Well-Known Member

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  2. Blue Cat

    Blue Cat Member

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    Excellent news for us!
     
  3. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Omg... shock. So cool!!
    My friend has 2 in the area. :D
     
  4. Blue Cat

    Blue Cat Member

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    We bought an IP in the complex for $550k in 2011, has performed well for us since. I've seriously considered letting it go to help pay for our recent PPOR purchase. Good to know the demand is still strong at those prices, need to get it on the market asap before the spring stock comes around.
     
  5. MTR

    MTR Well-Known Member Premium Member

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    I beg to differ can we review this in 12 months, me thinks suckers buying at peak....ouch
     
  6. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Yes, 1 mill does sound over the top. But over time, more apartments are being built. The proportion of townhouses and houses will drop, leading to greater demand for what's existing. Anything with land will do well. Its also not far from Mac Uni, there will always be demand there. My older sister's first property was in that area but they later upgraded to Cherrybrook.

    I have another friend with a 3 br unit, easy walk to Mac Uni and supermarket. It has a small "courtyard", she bought maybe 5 years ago for 550k, she reckons its worth ~950k. Having a bit of land differentiates these properties to the apartments.