NSW Greater Sydney suburbs under $550k, for FHB?

All good man. I'll do my own research and come up with my own conclusion on whats happening. I'm sorry but I cant agree with you a single bit.

I have many investments in the west so I keep a very very close eye on my money. I'm more than confident that its increasing. In fact I'll let you know after Xmas how I go. Need to take out $50k equity so CBA will be valuing some of my houses out there.

 

Hi Joseph...your research is spot on....consider it a blessing you did not buy.

I did a thread on the "Druie" and what happens when the market comes off...it has a hell of a lot to fall...lots of investors got in..and in typicaly style they also look to get out at the same time.

Over the next 2 years...you could see falls up to 200k...if people people get into trouble and need to dump and run...it happened last cycle and it will happen this cycle.

Congrats on the unemotional and factual post..

 

$200k? @sash - Want to put your money where your mouth is? Lets bookmark this page mate $5000 wager cash money? I'd expect to get paid and I'm 100% serious.

Avg 4 bedder now = $748,500 17th Dec 2017. By 17th Dec 2019 you think the avg of Mt Druitt will be $548,500 for a 4 bedder?

You talk alot lets see if your willing to put money where your mouth opens?

 

Its already happening son in the higher prices properties in Vaucluse....Russell Lea...Woolwich...Rose Bay...Randwick...in some cases they are down 500k...etc.

Watch and learn gunga din..watch and learn....

 

All talk mate. Lets put money up? Hey if your such an astute investor and mr know it all its the easiest $5k you will make

 

LMAO....don't tempt...me.....I bet on knee caps.

 

Gee, you're going to make this easy for @sash. The average is NOT currently $748k in the Mt Druitt suburbs at all. Take a look at this one.
72 Jersey Road Dharruk NSW 2770 - House for Sale #126929522 - realestate.com.au

$700k, 4 beds PLUS a 2 bed GF!

I've made a lot of money out of Mt Druitt, so I'm no newbie to the area & I can tell you now that although nobody has a chrystal ball, I'd wager that the truth is somewhere in between both you & @sash.

Prices WILL pull back.

To suggest otherwise is a bit naive, but to suggest $200k, well I think that's wishful thinking, and if by some miracle they do......I'll be there, cheque book in hand.

 

39 Clifford Cresent Ingleburn... the owner bought in june 2016 for $585k... nice profit

 

It will in some instances.....not all...but opportunities will present...read the content first....I am already sitting on the sidelines...the Druie looks tame compared to the 500k pull back already in some top end suburbs..obviously it would be wishful thinking by owners but happening none the less.

It will also happen in some Melbourne suburbs.

By the way if the Dharruk house is not sold Malacca slap the person who buys it! They will be full of regrest in about 18 months.....

 

Apologies I meant median. Which is $748k on RE. Whats the average then dont have time to find it atm I'm at a Xmas party now? - i'm happy to use that price whatever it is. I'm just confident that it wont drop either $200k from the avg or from the median figures.

If anyone is that confident as I am that it WONT pull back to a median $548,500 in the Druitt put your money where your mouth is. If you bet you better pay up otherwise I'll be coming knocking.

And yes if it drops an avg of $200k each I'll buy as many as I can in the Druitt.

 

Don'. Know much about Druitt but RE supports this screen shot attached @eletronic_exp0430.

Also adding Eastern suburbs as a comparison where are apartments are selling in the Millions. Is. Silly as a $200,000 reduction maybe be 5/10% I'm. DRUITT it would be 30%+.

I guess a nice house IN Rose Bay. Say $5,000,000 if it's come off $200k as a percentage let's say 4%+ that' a I'm saying.

 

Now you are changing the story. Median for the WHOLE AREA (as on RE) is completely different to average of the ex-housing department suburbs.

 

ummm actually using median is more accurate because it eliminates the influence of outliers which have a greater bearing when trying to find the middle point. That is why RE and domain both use median as it is more significant and a better measure of the middle point.

Thats why I said I'm willing to wager either on the median or the average. Doesnt matter as Mt Druitt wouldnt have too many outliers I would think. Either way no-one has the balls to take up my bet anyway. Too many millionaires on here without a spare $5k.

 

Most people on here, when talking Mt Druitt are referring to the ex-housing commission suburbs which are vastly cheaper than the outliers. Just take a look at Old Mt Druitt, for example. Lots of big blocks ripe for development. To say Mt Druitt doesn't have many outliers just shows how little you really know about the area.

 

What? Vastly Cheaper than the outliers? So they are outliers of outliers? LOL

All good you guys can say anything you want no one puts their money where their mouth is. Money talks and bullsh!7 walks thats all I have to say

 

@sash take the bet mate, he is making you look silly., and no don't reply with some crappy joke

 

No point.....the definition of madness is doing the same things over and over.....the cycle will sort people who have never been through one.

 

That goes without saying' this is the same person who said he follows the market closely and reports when it move 0.1-1%.....no point...it is not like the share market.

Here are the house medians as of now which I think will drop:

Mt Druie (old) - $734,858
Dharruk $575,000
Emerton $525,000
Whalan $534,000
Tregear $534,000
Bidwell $560,000
Shalvey $530,000
Willmott $505,000

 

im sure most agree they will drop, but by how much? back to 300k?

 

Agreed!

Look, we have come to loggerheads from time to time over opinions on Western Sydney real estate. I love it! You don't! Simple, nobody is denying that. But the fact is, that I have made a small fortune out of it & have been around for more than one cycle. I know it well. You haven't bought in the area, so your comments are from someone who doesn't follow it as closely. BUT you also understand the way the market works. Nothing moves in a linear manner & the next few years will be interesting. I don't think we'll see a drop of $200k, but we WILL see a drop.

Personally, unless I get pressure from Hubby, or I see a bargain too good to miss, I'll be staying out for at least 5 years. That's long enough for those that have over-committed to get desperate. For those who overbought & now have everything moving to P&I to be shaking in their boots. It's also near enough to the next uprising for it not to be an issue with holding costs. Just like last time, I bought 2 units @ $50k undermarket (at the time) because the vendors were desperate to sell....so I bought them both to sell off when the market was booming for well over double the price paid.