NSW Anyone still actively looking to buy in Sydney?

Lol, I think there always will be people looking to buy in Sydney. Particularly for PPOR.

 

Yes, I recently bought my PPOR in Quakers Hill well below the Sydney Median price

 

Nice! Was it a distressed sale?

 

Buying below the Sydney median and buying below the suburb median is going to be a big difference. You need to make sure you get a good deal in relation to the suburb your buying.

 

I was just joking that I got below the Sydney median. Yes I did get a good price just below 4 bed median price for Quakers Hill. Considering the popularity and demand in the suburb, I did well

 

You mean buy ?

 

Sydney isn't going to follow the same cycles as before. The demand, especially from foreign countries and interstate job seekers, is so high that the market will constantly correct itself. So any potential price drop will generate it's own wave of demand and it will turn into a self-feeding loop.

So you may be waiting for quite some time to be able to inspect at your own leisure and put in low ball offers. The agents may not take you seriously the second time around

 

This is 100% true. I waited nearly 2 years eagerly waiting for the market to cool and had to pay about 100K more to buy in the same suburb.

 

For cycles to not be the same as before, something quite substantial will have to change. I am not sure if more people (domestic and international immigration) - although a factor - changes the dynamics of the market behaviour to a significant enough degree to warrant a different behaviour. I would think more people intensifies the market peaks (and might even limit falls) but not change it?

 

I feel people who are buying 60-80 Kms away from CBD will start occupying the new builds in 1-2 years time and will realize that they have moved far far out just to increase the time of commute and no convenience. Hence, demand on middle ring well placed suburbs will always be there while there will be price pressure in outer suburbs in coming years.

 

Agree but even 30kms or less can feel far out, it all depends on transport. If people need to rely on their cars to go to work and drive in peak hour, that doesn't make for a pleasant daily experiences. But if they can do it all on a fast train, that's ok.

 

Thats what I keep telling my friends and family. Also, all the established suburbs will be in demand unless you buy very early in new or upcoming suburbs to get a good deal. This is one of the reason I bought in Quakers hill and not in Schofields/Riverstone/Ponds as the land size is almost non existent in these new suburbs but in an established suburb, there are still bargains available.

 

I believe a PPOR is an investment. It will be your non capital gains tax investment - Something to hold on to


-Frank

 

But where can you buy 4.4m worth of property for a $750k outlay? Banks want over 20% deposit now..

If you can do the above for me, private message me and we can discuss..


-Frank

 

What are you looking for exactly.. Renovate and project sites? Or build duplex and sell?


-Frank

 

All of the above. Just bought a couple and running numbers over a few more.

 

Mind if I ask what area you bought in? I'm looking as well for either an investment property or a renovate and flip project..


-Frank

 

Oops.. Pls excuse my previous message. I somehow thought you were a buyers agent and asked you to message me regarding a purchase.. When I checked i realised you are a broker.. Sorry about that.


-Frank

 

A bit of science fiction here in a way but there has been a prediction that when driverless cars become common, that living an hour or more away from Sydney won't be an issue because people will be able to work easily on their daily commute.. This will make outa areas more appealing.

-Frank

 

I need some tips on loan structure/serviceability issue @alexm