NSW Inner Sydney vs. Outer Sydney

Very clearly spelt out by @petewargent

In Sydney East is East and West is West -

From the SQM graphs.... Take home message East = Stable. Newer outer areas --> more likely to drop right now.

 

Hasn't this always been the case?

 

Yup.......nothing to see here, move along.

 

Didn't you just buy out west @Gockie

 

Weren't there some strong arguments put forward last year that the crazy parramatta and surrounds prices were justified and sustainable because parramatta is now the 2nd cbd and by extension being far away from everything good about sydney was irrelevant?

 

Epping's not really West.

 

Too many apartments at Parramatta being built, and I think the very new very far away parts of Sydney are going to go down. I think Parramatta region should do ok though, because it has good transport, relatively "stable area" (better than many other places in Sydney).

@Scott No Mates,
Yes, it has been spelt out before but the stock on market trend is a strong indicator of if prices will go up or down. Thought it was worth spelling out for newbies again.

 

Just hope that Epping is not allocated to Parramatta with this council re algamation @Gockie

 

It is! At least its not Auburn?

 

That article read like anything past UTS is "west"

 

More like West of Hickson Rd.

 

It will include the northern part of Auburn, the part north of the M4. But the rest of Auburn (where Mr Mehajer lives) will go with the southern parts of Holroyd and Parramatta (south of the M4, and the railway line at Granville).

GP

 

Was referring to Auburn council.... find all the evidence, throw the bad ones into jail, do what you can to seize their assets....

 

I work in Parramatta and park my car about a 10 minute walk from the CBD. One particular house on the street I park was for sale, 80's red brick, needed renovation, on approx 600 sqm block.

I thought $800-$900k max. I almost fell off my seat when I saw the sale price of $1.2 million.

I'm no guru but I can only see the price going in one direction from there, and it isn't up.

 

The East generally refers to the Eastern suburbs i.e. east of the city. Sorry but Epping is NW at a stretch. It is east of many western suburbs and very sought after and convenient these days but not The East.

 

Yep, its not the East. But its not West either. Its comfortably in the middle, easy access to Strathfield, Hornsby, city, Chatswood, Macquarie, Parramatta.... well located for me!

 

Existing stock (including recently completed) shouldn't be hit too hard.

Anything to-be-completed I'm not so sure.

Vacancy rates have been on the increase and this should translate to lower yields/stagnant rents in the short to medium term.

I do expect the apartment market in Parramatta to be fairly flat for a few years though. There's just so much being built around the area...

 

If that land later on becomes high density.... 1.2mill will have been a steal.

 

Yep agree. I can't see the apartments outperforming in Parramatta, given the huge supply coming on.

 

Good chance it will however there were two blocks, 1500 sqm high density around the corner asking $1.8 only a few months later