Stock on market. When will increase (Sydney)

Discussion in 'Property Market Economics' started by Illusivedreams, 20th Jan, 2020.

Join Australia's most dynamic and respected property investment community
Tags:
  1. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,606
    Location:
    Sydney
    Not really...maintenance, land tax and other costs will easily eat way 10 k per years. I can better deploy this to my other blocks of land where I will put out 150k plus. What is 30-40k when you can make 4-5 times that.

    I am moving more to an active strategy. A lot of people do not value time value of money vs returns.

    Melbourne is a bit different..I am frankly very surprised how strongly the market in the Outer suburbs on train lines have moved.... even looking on building on a block where the sale fell through. Looking at that. Bought a block just under 300sqm for 149k..can build turnkey for about 205k-210k for a small 3x2x2 house. If I can confirm end value will hit 480-490k I will build it it! Train station is only 850-900m away so definitely walkable.

    As for people heading to Maitland...maybe...but seem much better opportunities elsewhere. I have funds to do quite a few deals but no all....pity... :(
     
    Last edited: 27th Jan, 2020
  2. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,606
    Location:
    Sydney
    Agree...the traffic was horrendous during peak hour...but I was referring to the outer areas of Newcastle not down town. If you straight in...that is different story. One of the neighbors works at John Hunter...because he works shifts he prefers Maitland. Lived in Newcastle 20 years ago..now hates it because of traffic.

    But hey...its all relative...during peak hours in Sydney it can take you 25 min just to get from Chatswood to North Sydney...if you are lucky.

    To put it in perspective if you include the Lower Hunter (Newie/Lake Macquarie) and the Upper Hunter (Maitland, Singleton, Cessnock). ..you have catchment of almost a million people. No wonder they need a second new Hospital in Metford.
     
    wilso8948 likes this.
  3. wilso8948

    wilso8948 Well-Known Member

    Joined:
    23rd Jan, 2018
    Posts:
    565
    Location:
    NSW/QLD
    Agreed outer areas not too bad. The Expressway has opened up new options. Kurri, Cessnock, Singleton. All of these used to be hours away from Newcastle outskirts. I hold in West Lake Mac and some out that way is very undervalued. Many are attracted up the valley but West Lake Mac has the Lake plus easy access to M1 and Syd line.