VIC Has anyone seen a bigger sold-over-asking than this ?

Discussion in 'Where to Buy' started by Ben JH, 22nd Mar, 2021.

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  1. Ben JH

    Ben JH Well-Known Member

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  2. Trainee

    Trainee Well-Known Member

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    When the first photo is just an aerial view showing land size....
     
  3. Ben JH

    Ben JH Well-Known Member

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    You think it's an indication?
     
  4. Mulianto

    Mulianto ~~

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    Last edited: 22nd Mar, 2021
  5. wylie

    wylie Moderator Staff Member

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    I'm finally coming around to the belief that this market really is pushing prices up high enough that people will have trouble getting into the market (first home) anywhere close to Sydney and Melbourne inner city areas.

    To me, the link above is way nicer than a "first rung on the ladder" home, and what perhaps a second rung of the ladder home would look like in Brisbane, but at $1.7m it really is too much of a stretch for a second rung of the ladder home, and it is still a stretch for anyone not on two decent salaries.

    I've not looked to see where it is, how far from the city.
     
    Last edited: 23rd Mar, 2021
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  6. gach2

    gach2 Well-Known Member

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  7. oasis1frog

    oasis1frog Well-Known Member

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    My first home was $230k, on 2 incomes, equates to 1.5-2yr wages at that time. But because of school fees, childcare, & TAX, still took us a while to pay off. What jobs people have to afford $800k, $1m+ properties ?! Banks extended the loan term to 30 yrs without much fanfare, 40 yrs term coming ? Even if you could afford, not much of a life.
     
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  8. Kevbo

    Kevbo Well-Known Member

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    The land size isn’t that large for townhouses but I suppose you can build a duplex as it’s over 650m2. The land is just next to the train station so with tight budget control on the construction there is money to be made when the St Mary’s infrastructure investment kicks off.

    I personally think Werrington/Werrington County to be quite nice, having inspected a few places recently and a friend who lives there and loves it.
     
  9. gach2

    gach2 Well-Known Member

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    From what I heard lot of interest till mid 5s then fight between 2 people. Could be possible they were owners of a neighbouring property (I believe property was owned by council and previously used as a flood path so had to go through auction). About 2 weeks after the auction (was baffling me why so high) also realised it might have been developers interested in constructing a manor house (Werrington is kinda a hole for these developments but being in front of the station might be feasible)
     
  10. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

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  11. spoon

    spoon Well-Known Member

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  12. Mulianto

    Mulianto ~~

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    Could be jt lol... plus it’s corner lot.
     
  13. spoon

    spoon Well-Known Member

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    Wow, multi-dimensional feng shui. The new owner will be rich for multi-generation. :D
     
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  14. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The quoted prices laws in Vic are the problem. Agents cant estimate based on dev potential if its sold as a resi dwelling. Blind freddy sees it has dev potential and bids accordingly. Its also why the homeowner should never demo the house and sell the land vacant either.
     
  15. skater

    skater Well-Known Member

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  16. Ben JH

    Ben JH Well-Known Member

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  17. Ben JH

    Ben JH Well-Known Member

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    Even unit is not immune to the market frenzy

    [​IMG]
     
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  18. Goodlucktt22

    Goodlucktt22 Well-Known Member

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  19. Traveller99

    Traveller99 Well-Known Member

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    I would have valued that at 650 to 700k. 495 to 545k is ridiculous.
     
  20. skater

    skater Well-Known Member

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    Some is just underquoting. Went to an auction the other day, just to look. Price guide was $700k. Bidding got up to $785k, but wasn't on the market. It DID sell for that price, but if the guide was $700k, the reserve should not have been above $785k.
     
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