NSW Apartments in Sydney - under 700k

Discussion in 'Where to Buy' started by Cimbom, 20th Sep, 2016.

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  1. dabbler

    dabbler Well-Known Member

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    You, Sir (or Ma am), are what I would class as "bullish" on Sydney property.

    I won't say no way not ever, but I do doubt it highly & I really do hope not.

    I think lending would have to be loosened and rates cut to do it in the proposed time frame, and by that time you may have Jumbos flying in and out over the suburb to try and keep the pricing down. :)
     
  2. Cimbom

    Cimbom Well-Known Member

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    We've decided to keep our IP and continue to rent for now. I've got a job offer back in Canberra which I'm waiting to finalise the security check and I think I will accept it, so we'll likely go back there next year some time.
     
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  3. jodes

    jodes Well-Known Member

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    Yes we do think that often! We go camping a couple of weekends a month though (2-3 hours out of Sydney) and also like to visit family in Melbourne (driving) so it's good for those long trips- that said, it does spend most of the week doing nothing (and on that note, we are looking to rent it out on car next door- tbc!)
     
  4. JDP1

    JDP1 Well-Known Member

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    Doubling in 5 years- not a chance. ..unless its way undervalued to begin with.Chances of finding those are very rare in sydney, and even if you do, you will almost certainly have stiff competition for it- which will drive up the price and also why auctions are favored...
    anyway...

    if prices were to increase markedly in sydney, id suggest it would have to be a multi factored approach- rate cute as well as a strong(er) jobs scene as well as ( most importantly) salaries increasing strongly.
    Perhaps there will be 1 more 25bp cut in the near future. I dont think the number of jobs in sydney will increase substantally ( but it will hold its own well- wont win much new business from overseas looking to invest in australia because of lower cost alternatives), and cant see salaries ( anywhere in australia) increasing much more than inflation anywhere in the near future.
    This leads me conclude that sydney ( blacktown included) will likely hold its own as is +/- ...but certainly no doubling in 5 years.
     
  5. euro73

    euro73 Well-Known Member Business Member

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  6. standtall

    standtall Well-Known Member

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    Definitely bullish on Sydney but for multiple reasons.

    Low interest rates are here to stay for a very long term unless there is a major financial shakeup like China exploding altogether.

    China and India will continue to grow and keep delivering a steady stream of entry level migrants. It's all that Sydney needs to continue the momentum.

    The only other risk is if someone comes along and puts in place a US style network of big freeways in and around Sydney and cut commute times by 20-30 minutes on average, thus reducing the need to buy closer to CBD. There is almost zero chance of that happening.
     
  7. dabbler

    dabbler Well-Known Member

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    Interest rates could change at any time.

    More regulation.

    A financial crisis (there are signs of problems)

    US dollar changes and rate rises

    Degrading of our financial systems ratings

    Any and all of these things can turn the trend around, soon after the election in the US there will be a rate rise.

    There has also been uptick in commodities.

    It would need sharp rate cuts and loose lending, that is not on the radar that I am looking at.
     
  8. Sea Eagles88

    Sea Eagles88 Well-Known Member

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    That would take many decades to build with the rate of things work here. Then we can one big interchange like the Dallas High 5


    high-five-interchange-dallas.jpg
     
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  9. dabbler

    dabbler Well-Known Member

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    We have a small one to model off near Eastern Creek......

    What happens if you miss your turn off or ramp ? go round the city and try again ? lol

    The Americans would not put up with what we do.
     
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  10. Blue Cat

    Blue Cat Member

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    Worth having a look at Berala, a hidden gem located between Lidcombe and Auburn, also close to Strathfield and Burwood.

    Berala has a good NAPLAN public school and is not as busy and expensive as Lidcombe but close enough to Lidcombe's amenities - big shopping malls along Parramatta Rd, Costco etc. It has a great village feel with its own Woolworths and small shops along the main shopping strip, the shopkeepers seem to know the locals well. Its also a much safer area than Auburn.

    The train from Berala station gets to the city in 35mins and regular buses go to Parramatta and Bankstown.

    You can find a freestanding 2-3 bed house in Berala on 450-500 sqm block of land for around $700k, great value compared to what you would find for the same price range in the Inner West, Greater Western Sydney, Hills.
     
  11. Cimbom

    Cimbom Well-Known Member

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    I just had a look out of curiosity and it's a 1 hour commute door to door for me into the city (by train) and that's for a house that's close to the station. Thanks for the recommendation though. I like learning about new suburbs here as I'm still very much a newbie.
     
  12. Scott No Mates

    Scott No Mates Well-Known Member

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    Latest 'research' from the smh.

    Even fhb don't qualify for the grant on a new one bedder unit in a lot of Sydney.
     
  13. Dean Collins

    Dean Collins Well-Known Member

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    Oh what a difference two weeks make. Interest rates up, bonds down $19T, inflation setup to rise dramatically in 2017.

    Going to be very interesting to see how expensive the wholesale rate for Aussie banks borrowing on the international market is going to get.
     
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  14. twentyfour

    twentyfour Member

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    I'm a first home buyer myself and do have a budget of around 700k but have recently started looking in getting a cheaper property first at <550k and then upsize to a larger one.

    I've been spending a bit of time looking within this range and unfortunately there really isn't a lot that qualifies (New + <550k).....
     
  15. Zoolander

    Zoolander Well-Known Member

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    Browsed for Rhodes posts and this one came up top. 53% in 12yrs is pretty terrible growth indeed. Got an off the plan in 2013 for $525k which is what, $5k increase in a decade... Should be doing better now that the most of the space is taken up already and the only major project I'm awarw of is the commercial block at the base of the new footbridge. Pic attached is about 6 months old- slightly outdated.
    IMG_4166.JPG
    Onstreet parking there remains a joke.
     
  16. Gockie

    Gockie Life is good ☺️ Premium Member

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    2013 onwards was the best time for growth! :)
    Agree on the on street parking situation... completely shocking. I worked in Rhodes for a while and on the rare times I drove in I couldn't park anywhere near work.