2 bedder unit question

Discussion in 'Where to Buy' started by Marcussyd, 9th Jun, 2019.

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  1. Marcussyd

    Marcussyd Member

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  2. Gockie

    Gockie Unicyclist Premium Member

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    I get a "page no longer exists" error
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Replacement Linky

    • It's south facing (it might get a little morning sun)
    • It's winter - people don't buy beach properties in winter
    • It doesn't have a beach view
    • Only has one bathroom
    • No mention of strata levies


    This was only a few doors down but has visibility on most sides. (Sure it's a penthouse but that's not the only thing going for it).
     
  4. David Shih

    David Shih Mortgage Broker Business Member

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    In general one of the main reasons is credit - people simply cannot borrow as much money as they used to. As such stocks are sitting on market for longer, and those looking to buy have much more options to choose from.

    Putting credit aside then it just comes down to the unit itself for example whether the unit layout makes sense, location, condition of the unit, target buyer etc.

    As others have listed out there could be a number of factors on why this unit hasn't been snatched up yet. Personally I feel while it has lifestyle as it's close to Brighton-Le-Sands, it might be a bit too close to the airport runway for peoples liking (potential airport noise) and also not near public transport (so you have to rely on car all the time). And so on.

    Cheers,
    David
     
  5. Lindsay_W

    Lindsay_W Well-Known Member

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    One obvious reason could be that it's priced too high for the current market or possibly the following reasons (my opinion only)
    - Tiny on the inside,
    - strange layout,
    - above a set of shops on main road (Noisy)
    - More expensive strata levies than other comparable properties, hard to say without knowing what they are but generally any buildings with lifts, pools and other facilities are more expensive to maintain.
    - Better stock on the market for less money - larger apartments in older brick walk up buildings a street or two back from there for ~$580K
     
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  6. BarneyRubble

    BarneyRubble Well-Known Member

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    Its an old building, so the levies probably need to be higher than they are. Upcoming special levy maybe.

    Also, it's not really at a beach.
     
  7. Lindsay_W

    Lindsay_W Well-Known Member

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    Agreed, probably better to ask "who buys this type of property" rather then "why hasn't anyone bought it"