NSW Post a Bargain Sydney 2020

{Note from mods - this thread continued from here: Post a Bargain Sydney 2019 [NSW]}



Heading to Sydney next Tuesday for a week and booked an Airbnb ($65 per night, a 1x1 apartment 10km from the CBD in Ashfield, NSW).
I thought I would check out what it would cost to purchase something similar and roughly it would be $600-700k.
I don't understand why people would want to live in shoeboxes in Sydney when in other states/cities (namely Perth) one can get decent wages, better lifestyle and more affordable housing options.
Yet to see any family-friendly 'bargains' with land component under 1mil within 20km of Sydney CBD..ridiculous. Migrate to the West ​

 

That is because people are emotional...and have no idea about cycles..and dead cat bounces...

With rents in Sydney dropping more...it will get even more interesting..this happened to Perth so it will be interesting to see what happens if there is any economic shock of sorts...

Sydney rents fall as record vacancies give tenants edge - realestate.com.au

 

it's the same reason people in some US cities that are prone to tornadoes refuse to relocate and rebuild their houses every single year - emotional and irrational reasons.

 

Madness..

 

It also comes down to your work, sometimes you can only work in big cities (meaning Melbourne or Sydney) unfortunately. If I had a choice I would indeed move to a smaller city.

 

That is exactly what is going to drive people out of Sydney...as more people work online or from remote locations...you will see that spread out. No one is cottoning on to this....

 

Perhaps a change of career would fancy some?
More bang for your buck in terms of housing for a lesser mortgage with similar cost of living elsewhere!
I left NZ as a 19 year old Sport Science Graduate with an Exercise Prescription Major and years of Personal Training Experience and now I am a Manager of a CNC Machining Company.
Life has a funny way of leading people down all sorts of paths if one chooses to explore them.

 

People like big cities despite the poor living spaces. If you read threads on other forums about Perth, people, particularly those who are young or young-at-heart when comes to partying, they think Perth and for that matters smaller cities are dry and uninteresting. Also, from a job opportunity perspective, if one works in the corporate world, it is true that Sydney and Melbourne offer more job opportunities. Just count the no. of HQs of international firms in Australia and one can understand. However, small cities are good when one has a family. But the job opportunities may not be as good, in particular, in areas such as banking and finance, corporate roles, etc.

The big city syndrome is not only an Australian one. US - New York, LA, etc. China - Beijing, Shanghai, etc. Japan - Tokyo, Osaka, etc. The list goes on.

 

List of companies of Australia - Wikipedia

Lots of Syd and Melbs

 

The greatest place in the world to live is where you are happy.

I am happy living close to my family and nearly all my family lives in North West Sydney. 1 daughter, my SIL and grandson live in Melbourne so I have alternate accommodation in Docklands.

if you choose your PPOR on price, value or anything other than making you happy first, then a life of misery (especially if married) awaits.

 

Has anyone noticed that the city home unit market has not gone back to anywhere near its former glory for rental or sale value. Yet Newtown and inner west semis are going gang busters!
Is it that the city is lifeless after 9pm?
The scare of poor quality high rise construction?
High levies on strata property.
Low rents?
Fashion changes?
Or are they simply bargains waiting to be bought, so we can say remember when you could buy a 3.2.2 for under $2 million in the heart of the city. I wish I had 2020 vision then!

 

A combination of all that but also there is too much stock in the CBD (in Sydney anyway).

The current market is placing more value on the semi's land in the inner west than the convenience of a nice CBD unit.

The nice and new apartments in hip places like Barangaroo etc will still be expensive though.

 

The bargain so far that I know is... apartment, not so much about house , correct me if I'm wrong.

NSW or Sydney is still expensive city to buy property.

 

Have noticed rents have been dropping/ stayed the same in Sydney for a few years, can growth continue without rising rents?

 

Some of the properties which was not sold in 2018 re-entered the market with same price tag in Western Sydney region. Agents work really hard to get it sold. People emotion just fuel the property market, not fundamental. This will have serious effect when mkt turns.

 

4x2 house in Bass Hill sold for 650k
Sold 16 Beatrice Street, Bass Hill NSW 2197 on 24 Mar 2020 - 2016124138 | Domain

2x2 Unit in Silverwater sold for 470k
https://www.realestate.com.au/sold/property-unit-nsw-silverwater-132742510

 

definitely a bargain but should be in the COVID-19 thread

 

Exactly.

How many Aussies go to England and choose to live and work in Durham as opposed to London...

 

2 bedroom unit Silverwater
https://www.realestate.com.au/sold/property-unit-nsw-silverwater-132742510
March 2020 -Sold
$470,000
April 2016
$610,000
August 2014
$500,000
September 2011
$435,000

 

I would love to work in Durham if I were an academic. They have a great university. And you can climb the cathedral to keep up with your exercise.