NSW Red Brick Walk-ups during a downturn?

You should of bought it mate

 

Nah mate more carnage to come there.....

I can see these prices becoming a lot more common in the coming year or so....rents are now dropping...

 

I find it hard to do sarcasm online You know it mate!

 

With the debacle of the Opals Tower, the conviction for purchasing older red brick units has increased a notch or two. These buildings have been around since the 60's so basically what you see is what you get, as compared to new unit construction which may have structural issues almost immediately. Red brick unit blocks used simple, basic & effective construction. However, be sure to look at the concrete balconies on these buildings as they are normally built with a 60mm depth (approx.) as opposed to 90 - 110mm depth as required in today's standards. Also handrails normally need to be replaced to achieve today's height standards.

 

This is great info. Thank you.