NSW Looking for a Reno?

Yeah, sometimes reno's sell for too much during boom times. It's probably been bought by a newbie wanting it as a PPOR.

 

Noticed this pop-up directly opposite it, also needing reno:
https://m.realestate.com.au/property-house-nsw-st+helens+park-139472279
Should be a good indicator when it sells of how much market has dropped.

 

Not really. The fact they haven't shown the internals tells me that it's a mess. In a down market, houses like that can be very cheap. It all depends on who's looking. An inexperienced person trying to break into the housing market, or an experienced renovator. We've bought quite a lot of homes that are totally unlivable and brought them back to life. But hubby is a tradie & we do all the work. We often buy at auction, and have little competition, but that doesn't mean that at some of them you don't get people wanting to pay too much. We just walk away & wait for the next one to come along.

 

will be interesting to see what it sells for considering the first zold for 680k, and this one is listed range 580k start price. significant difference.

 

If it was any further out of Sydney it would be in Victoria!

More seriously that is going to be a great buy for someone.

 

@skater I thought as much too. It must be an absolute mess. Looking to do a first flip myself but don't want to increase risk when house prices are trending downward.

@frankjeager Come up as sold for $615,000

 

@skater I recon when Qld settles down we could do a quick reno flip.

 

Ooh, I'd be interested in that......but we'd better brush up on good/bad areas and prices. On another note, I've got to try and find a preferably non strata place between where we are, and Runaway Bay for under $450k for a friend who wants to move up in around 6mths. There's not a lot available at that price that isn't an over 55's complex with lots of fees.