NSW Snapshot of my area (Inner West Syd)

PleAse out the contact details down for this agent who was calling Lakemba inner west or pm me , I need to call them to remind them that this not at all the inner west

 

Very interesting layout and agree, think this will sell above $2m easily. Any chance the sheds at the back can be converted to a granny flat?

 

Anything South of the cooks river is no longer inner west for me. Going westward I would stop at Strathfield. (which conveniently puts me in inner west )

The market has cooled a lot. A couple weeks ago I went to the auction for this house as it's close to my own. 81 Greenhills street Croydon Park NSW 2133 - Duplex/Semi-Detached for Sale #126458946 - realestate.com.au
No registered bidders, the only people who went to the auction were neighbours seeing what their own house is worth, and it's still on the market.
It needs a fair bit of work, but a year ago a 3 br semi fixer upper would of had no issues selling at that price.

 

Saw some properties in the Rozelle area which I thought was under priced but than after looking at the plans for the roads, pass for sure.

 

I would guess they already are occupied as such.

 

Agree the market is cooling. That Greenhills st house is in my stomping ground, I agree that it would have sold quickly even just a couple of months ago.

Went to 0 bidders, immediately passed in auction in Belfield last Saturday. Interesting times ahead. The market has slowed quite quickly.

 

Let's see if developers pay up for that Marrickville property to land bank or if their interest have also cooled off.

 

Which place in Belfield is this?
Interested to see as my brother recently picked up a villa in the area.

 

6/50 Baltimore, now listed for $725k (in their dreams)

The vendor rejected a sub $700k offer before auction

 

Hey guys, I'm living in Glebe but can't afford to buy here yet!

Seems like prices have been going down for last few months - do you reckon they will continue to go down?

 

No, the sheds are rubbish. It would be nice to see someone buy the place and restore the house, but I suspect it will end up being knocked down. I'll wander around to the auction on Saturday and report back. It will be interesting to see how many bidders there are.

 

Well, I got that wrong. There were about ten bidders. The young, hopeful families got knocked out first. The three Chinese bidders who were a bit confused battled eachother for a while till they sort of ran out of steam. Then a bloke who looked like a Lebanese builder swooped in with some big bids and belligerent attitude. One of the confused Chinese bidders on a phone kept pace but the builder got it for $2.52m.

 

I heard it has spread to Liverpool LGA sort of area

 

Quite a few $2+ mil homes sold in Marrickville recently.

6 Ivanhoe St Marrickville sold for $2.52 mil today. It's the large parcel of land pushing the price.
6 Ivanhoe Street, Marrickville NSW 2204 - House For Sale - 2013901103

Whereas, 143 Meeks Road, right next to the freight line, sold prior for $2.1 million (no development potential).
143 Meeks Road, Marrickville NSW 2204 - House For Sale - 2013915226

7 from 7 sold this weekend in Marrickville.

I'd say the incoming Sydney Metro (giving it less than 10 minute access to the CBD), ongoing gentrification, accessbility to CBD & employment hubs as well as the unique laidback vibes with good parks and sporting facilities. Got a valuation a few months ago for my investment in Marrickville, its grown more than 95%

 

There were three locals I knew at that Ivanhoe Street auction yesterday. We all would have been doing the maths on what our places were worth.
I took along the bloke staying in our Airbnb. I said, 'You want to do something really Sydney? Come to a property auction with me.'
He was fascinated. It's great theatre when you don't have skin in the game. We stood back and I pointed out the players in the drama. With ten active bidders, the agent had his work cut out for him as he scurried around.
Scott

 

Nice post...looks like you have the finger on the pulse.

I was out Maroubra way yesterday and similar result....lot of properties did not get to reserve.

I feel that this is going to startle people how quickly it has come off.......this is a classic Sydney cycle.

I went against the heard when I said the market would correct. 2019 ...is going to be an interesting time.....2018...will be period of massive price adjustment...as owners are conditioned on lower prices...

What is amazing is the amount of stock on the market. People who sold in 2016...were quite smart...even if they got 50k less..lot less stress and competition back then.

Some people have made over $1m in profit..unfortunately his will unwind by 300-400k.....over the next few years...that is the way cycles work.

 

The ones in Lilyfield Rd?

 

Yep but when they rebuy in 2019/2020 etc they will still be paying 5% of costs "to get back in".

I don't understand why people continue to insist that when you sell you "made xyz", no you didn't....you are forgetting the stamp duty you paid to buy in, and the stamp duty you are paying to buy in again in 2-5 years.....

Unless we have a 20% drop......everyone who thinks they timed the market right by selling is only treading water......(or worse....going backwards).

This said-yep inner west rentals never cease to amaze me, we have a 2br/1bth/0pk IP in Petersham and the rent is now just under $600pw......way more than would pay to rent there.....

 

Petersham is a great suburb though - more and More pubs going in and the Airtraffic not as bad as other spots!

 

This said-yep inner west rentals never cease to amaze me, we have a 2br/1bth/0pk IP in Petersham and the rent is now just under $600pw......way more than would pay to rent there.....[/QUOTE


My 2/1/1 in Enmore is still on the market after four opens. Ive freshened it up,new carpet, light fittings etc. I'd like to know why there's little interest. Maybe asking rents a bit too high or we're nearing the end of the year.I don't have a local agent but didnt think that would matter with internet ads?