NSW Sydney Apartments

Discussion in 'Where to Buy' started by Sackie, 3rd Jul, 2018.

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  1. Sackie

    Sackie Well-Known Member

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    {Note - thread split from here: Brisbane Apartments - cracks turning into craters}

    I agree mate but I think it ultimately comes down to supply and demand. Many think a 2 bedder unit in Bondi Beach for 1.2m is over priced. But yet there are many people living there who won't sell out because they demand that stock type and area and supply remains low/limited. Even if its 'ridiculously' priced for most. The term 'over priced' is really subjective I find.

    This is how I see it - Most of the mob losing money in Sydney atm are the ones who bought at silly prices at the peak where 'stable demand' (a term I use) didn't exist. So as prices retract they lose equity as prices go back to real demand levels which is also affected by supply or new supply coming on the market.
     
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  2. TMNT

    TMNT Well-Known Member

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    Buying in Sydney in the last 6months solely for investment purposes is just plain stupid. Unless you don't care about growth and just want to hold for 20 yrs
     
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  3. Sackie

    Sackie Well-Known Member

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    I don't disagree.
     
  4. sash

    sash Well-Known Member

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    Amen to that....for that matter it would have been stupid for people who bought in the last 18 months in Sydney is plain stupid.....dumb and dumber comes to mind. I am hearing from my broker today massive amounts of people who are coming to him trying to refinance when their I/O expires...we are talking PPOR not IPs....very interesting times in Sydney.

    People sayin' the Eastern suburb unit like Bondi, Coogee not falling are being silly..they too are coming off...time will tell.
     
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  5. Illusivedreams

    Illusivedreams Well-Known Member

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    Nothing like running to Bondi Beach 7am Sunday morning just the locals Nice smell Of coffee..
    If you don't know the feeling get out of bed drive down and look out to the water.

    This lifestyle is worth many 0000000. That's why it's worth what it's worth.
     
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  6. Sackie

    Sackie Well-Known Member

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    I love the area. Cruising around café scenes...then down to the waters...Bliss.
     
  7. dabbler

    dabbler Well-Known Member

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    I do not think Bondi fits into the build as many high rise & sell them to as many OS or Chinese as you can get on the hook type area, maybe I am wrong, been a couple of years nearly since I was around parts of that Suburb.

    But many places in Sydney have done just that, and many, including locals, did buy OTP etc at or near peaks.

    Unfortunately, if there has been enough stupid people, they could bring many of us undone.

    If there is only a mild correction, yes, in demand areas will do own thing, but nothing is totally insulated.
     
  8. dabbler

    dabbler Well-Known Member

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    lol...

    I could not be bothered with the traffic, the trend setters, tourists and prices, many many nice places in Australia, many away from water and many better than Bondi too if water is your thing.....

    Maybe I carry old grudge from where you had to swim through floaters.....if only those tourists knew, if only people knew why many of Sydneys beaches left you with ear ache or infections....

    The Eastern suburbs is over rated IMO, I know people like much of it, but many of them just like to do what the other trendies are doing, they do not even know why half the time.

    As for Cafes, hell Aus is full of them now, and most are pretty good, if that is your thing, you do not need to be confined to that area.

    So, no, it is not worth that much really, not much more than you can do elsewhere, lifestyle includes everything, the crowds and traffic and non locals. And leave your fancy car at home......parking is a nightmare.
     
  9. Sackie

    Sackie Well-Known Member

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    Said like a non local :p

    But I do agree the traffic is bad. Family member had an idea.. we should have a toll of $25 for all cars coming in from non Eastern Suburbs areas. :D
     
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  10. dabbler

    dabbler Well-Known Member

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    Cruising ?

    You mean walking ?

    You must be young Leo & a real trendy ? Unlike many, you may have the money to live there, most I knew that lived there or close by were heavy partiers & off this planet much of the time
     
  11. dabbler

    dabbler Well-Known Member

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    Yep, I am a non local, by choice most of the time, I would NEVER live there, I would accept a cheap property though :)

    I knew a lot of people who lived there.....most off their nuts a lot of the time, lot of party people and young trendy sheep types....all have woken up and none live that way at all now.
     
  12. Sackie

    Sackie Well-Known Member

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    Well 36 so not really young. Tbh its really now more a café/trendy scene. Not so much the heavy partier goers.
     
  13. Sackie

    Sackie Well-Known Member

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    haha... I really don't see those types of people around much tbh..
     
  14. dabbler

    dabbler Well-Known Member

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    Yeah, everyone grows up some time :)

    The ones I knew took longer than 36 to realise there was more to life than living the Eastern Suburbs scene, or the inner city scene.

    If you like it though and have the money to live like that, well, why not, I know exactly why I will never live there, I can't stand it, I am not trendy, and good food and cafes are everywhere, Aus is a big place & I have not seen as much as I would like too.



    But how would you know ? it is hard to tell with a lot of them, but there is a reason why many clubs sold so much water and not much else, anyway, that was what a lot of that crowd were doing & they are in all the cafes and eateries etc too. I doubt it has changed much.

    A lot did not seem to realise they were trapped, trying to keep up with it all, and some did for decades before snapping out of it, TBH, children did it too many of them.

    You would likely mix with people on a diff level, well I hope so.

    Actually, just remembered some others who now serve at her majesties pleasure, they got greedy trying to climb the social ladder.

    Anyway, getting back to property....

    Over priced, even if in Bondi, means you paid too much, we have to seperate when we hold something for many years, or even from only 4 years ago, and we have to think of the amount of people who were buying in a boom with easy credit, from this standpoint, we can maybe more likely work out if something may have been a bit high in price, or if those coming along in near future will all have the same capacity to pay same or more, even those in Bondi cant escape lending changes, or those wanting to buy in Bondi rather.

    As well said by someone else on the forum recently, desire does not equal demand.

    I, however, know next to zip about the market in Bondi, so I do not know one way or the other.

    I also know little about Bris CBD units, I like the look of some places, but I too decided to keep away from them, even though some prices looked good, long term they will prob do well if bought when smashed. It depends on your view & time you have, lot of people talk of 20 or 30 years, I never thinking that far out anymore. I see plenty that lose desire to do anything even at my age, let alone thinking of another 3 decades of tenants. :)
     
  15. Sackie

    Sackie Well-Known Member

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    Of course and the culture is really spreading.
    Agree, though I don't see well placed units dropping 25-30% or more as some are suggesting.

    Looks like we're both night owls! :D
     
  16. dabbler

    dabbler Well-Known Member

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    Hang on, I do not think it is spreading, like Bondi or ES is the centre of all things great, and it is finally moving outward too the dregs :) I think there are decent people everywhere, and we are not poor, and probably more people aware due to marketing and generally people being more mobile etc......

    I do not know, but if economy is not tanking, you would not think so. But you never know, but well placed, non cookie cutter places (that are in a sea of cookies), should find good support, if they don't, were all in the poop anyway possibly.

    I was always up late, spent a lot of time doing things in US time & working when people would not disrupt as much, got used to it, I do believe some are more geared toward later hrs, and some more to be early risers, what about you, or are you one of those people who only needs a few hrs sleep....I know someone who only sleeps about 3-4 hrs a night....:eek:
     
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  17. Sackie

    Sackie Well-Known Member

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    Finally, we agree :p
     
  18. Sackie

    Sackie Well-Known Member

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    I only need 5-6 hours over a 3 day period (so 2hours a night) and I can function normally. It's actually been a great asset for me over the years to have super amounts of energy to get things done where others are pooped after 8-10 hours of work.

    On the downside I may pop off before 60 lol
     
  19. Joynz

    Joynz Well-Known Member

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    If you decide to have kids in future, those sleeping hours will be an asset for the baby’s midnight feeds - and the 3am crying sessions!
     
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  20. Blueskies

    Blueskies Well-Known Member

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    Must be that special Bondi Panadol... ;)
     
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