NSW Post a Bargain Sydney 2019

If there are any..

Came across this interesting article, contains some nice graphics and info.

How low can you go? Data shows impact of property downturn in your suburb

 

Good graphics thanks Alex. Trying to read the -20% in 2018 suburbs (red ones), I think that's Mount Colah at the top but the others are hard to place can anyone confirm what they are?

Also what are the biggest-falling Sydney suburbs in 2019? I've heard Hornsby has been bad, any others?

 

Hi Guys

In this falling market together with the credit squeeze you can find yourself a bargain, particularly with bank repossessed house sales, deceased estates & dilapidated houses ripe for renovation.

 

Is there an easy way to get a list of any of these types of sales? Eg bank repos?

 

The problem is a lot of house prices may appear as a bargain this week but next week it fall even further.....

 

Too much obsession over 'bargains' rather than focusing on what's more important imo . Value.

 

National Mortgagee and Deceased Estate Properties | NMD Data

 

I think this one was a real bargain:

31 Searl Street, Petersham, NSW 2049

 

Cheap but as it backs on to a busy rail line it would kill me.,

Their is no discount on earth.

 

Unbelievable that these homes are even selling, I would call some uninhabitable! Perth has got the goods

 

It all depends on what you can buy per $ as affordability. This Petersham house would worth 20 times its sold price if it were in HK. Look at the graph below... Sydney is (or rather was) not cheap. If the fundamentals remain, it is a very good bargain indeed...

 

I've seen a few for sale pop up lately that seem to tic all the boxes
Low price, good condition, good rental return
Quick look on google maps and PASS !

Don't know how people cope living near a train line

 

This graph is fos.

sorry singapore affordable ? lol if you are poor u buy into government housing.

You read that right, you need to BUY into government housing. Can u imagine paying 600k to live in housing commission ?

private housing is as expensive as here.

 

This is very interesting, and we have all seen data like this. However, dividing median house prices by median wages just doesn't tell you how burdensome owning a house is - because it ignores interest rates.

If we compare the % of the average income that mortgage repayments take up, we see that they have been pretty constant (in Sydney about 37%) for about 40 years. In fact, mortgage repayments were a lower as share of income in 2017 compared to 1987.

It is certainly more difficult to pull together a deposit these days.

However my point is that there are several ways to assess affordability over different time periods. And any methodology that ignores the interest rate isn't very useful.

I would also add, there are some legitimate reasons why Sydney would attract a premium compared to other international cities, which perhaps we could discuss on this or another thread: such as-

- larger block sizes in Sydney;
- predominance of detached houses in Sydney vs apartment dwelling elsewhere;
- Better brick construction (vs weatherboard in many US cities)
- higher population growth than any of these cities.
- Greater level of urbanisation in Australia vs Europe, USA & Asia. Ie our populations are far more heavily concentrated in fewer urban centres where premium land is relatively scarce.
etc.

Just some things to consider.

 

Just following up this previuosly mentioned house sold for 1.045m according to domain.

26 Charles Street, Leichhardt NSW 2040 - House For Sale | Domain

 

Where is that clown that said it would get 900k

 

We did a drive-by earlier today. Even scarier in real life.

Even if you spent $250-300k fixing it up, there might be a few $ profit left in the deal. Not much though.

 

sold at auction yesterday - 520k,
it is an odd shape but 772m2, walking distance to the station
15 Bluett St, Marayong NSW 2148 - House For Sale | Domain

 

This seems like a bargain in my old neighbourhood. At peak it would have been at least 1.3 mill. Its rare for anything to have been under 1.2 mill in the past couple of years.

78 Boundary Road North Epping NSW 2121 78 Boundary Road, North Epping, NSW 2121

 

Gockie,
Any idea how much this went for? It’s under contract at the moment (Since you’re calling it a bargain)

Thanks