signs of people rushing into the market and they are now facing the consiquences?

Asking for $750k
http://www.realestate.com.au/property-house-nsw-quakers+hill-120286341

Sold for $715k 6 months ago
http://www.realestate.com.au/property-house-nsw-quakers+hill-118778159

I remember I looked at this property while I'm shopping for my PPOR at the beginning of the year, it look OK from outside but the internal is very small and it is super close to the next house that you can basically touch the wall from your window.

The ad also mention that it is now rented for $550/wk, this seems like an irrational investor where he thought price will go boom and turns out it's going side ways instead while he have had a massive debt against the house that it is not worth it to pay those extra repayments, and he wanted to get rid of it so badly that he is making a lose with this sale, or best case scenario a break even.

And good on the selling agent double dipped on this property within 6 months for sale comms.

 

This might be a case of the owners having had a life curve ball that has smashed the cashflows for them.

The rent would be massively cashflow neg too - unless there was a large cash deposit..

One swallow doesn't make a summer.

 

Classic example of most likely a distressed sale. Owned by a Chinese person now who snapped it up.

Looking at comparables I'd say there's already 90k+ equity on it.

Even this smaller townhouse sold for just under 715k


http://www.realestate.com.au/property-house-nsw-quakers+hill-120121069

 

So maybe time to put in some low ball cash offers hahaha

 

Yes I agree there should be a good 90k equity there, but if you have been there, the house is located within a villa with a bunch of townhouses with a shared drive way, so I'd say it is not entirely a stand alone house, also the gap between each house its just shocking, and that's the main turn off for me.

 

Even if the owner manages to sell it for 750k they still would've made a loss.

Stamp duty on a 715k property is $27,994 in NSW. Than add selling costs of approximately 2%, which would be $16,5000 on a 750k sale. So that's already a 9k loss let alone the interest.

 

anyone trying toshort term hold/flip in todays market of sydney, is either gutsy, experienced or stupid

 

Stephen Brodie, Agent extrodinaire, is loving life.

 

I have seen properties for sale similar to yours, however the reason for sale was due to the vendors divorcing.

 

Could that be also sign of Sydney west market slowing down ?

 

Doesn't seem too bad to me?

For budding "journalists" looking to write an article on the Sydney house bubble bursting, yes it's a huge sign!

 

The photo doesn't do justice wait until you walk inside the house!

 

Sydney's South West is definitely slowing down.

 

@ProperTikus and @2FAST4U I believe it is the sign of fear in the NSW investor and more people focusing to invest somewhere else.

Sydney Southwest is another blue chip suburb, because most of friends who bought House (existing and new H&L) have said that it is the next suburb to be growing fast.

Glenfield, Jordan Springs, Edmondsons Park, and Oran Park are the new suburbs that is recently opened with good looking house. The infrastructure is getting better and soon it will be like Parramatta as most of them have said to me.

Surely those people can't go wrong in purchasing it last year and few months ago. Plus it is near Campbelltown one of the large CBD area in Southwest.

 

So @Tekoz have you bought any yet or waiting for the market to come down?

 

@larrylarry
As per the Expert suggestion if I buy in NSW, I must wait for another about 2 years where those Off The Plan property is put back to the market for a bargain price.

in QLD, I must act now to get better yield and Capital Gain in the next 5-10 years.

 

@Tekoz tbh mate I think most decent places around australia will have a better yield and capital gain in 5-10 years from now.

 

Qld does sound like the place to be favourite right now. Where does your research bring you to? Logan?

 

@Leo2413 and @larrylarry

In Queensland area:

Crestmead suburb report
http://s000.tinyupload.com/index.php?file_id=06248293600339396261
Park Ridge suburb report
http://s000.tinyupload.com/index.php?file_id=02614947828995694945​

Would that be a good place for initial investment in Brisbane house ?

Reason: low entry cost starting from $300k you'll get 250 sqM new 3 bedders house & land package.​

 

http://www.smartpropertyinvestment.com.au/news/14004-13-suburbs-to-take-off-in-2015


http://www.logan.qld.gov.au/__data/assets/pdf_file/0003/76647/Key-Issues-Report-Part-3.pdf