NSW Sydney appartment price crashing may be bigger than I thought !

Discussion in 'Where to Buy' started by Kangaroo, 17th Feb, 2016.

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  1. FirstTimeBuyer

    FirstTimeBuyer Well-Known Member

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    No it's the Toga development, the same developers for Macquarie central. It's about 100m towards Macquarie shopping centre from where Stamford used to be.
     
    FirstTimeBuyer, 18th Feb, 2016
    #41
  2. mini2

    mini2 Well-Known Member

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    Ah that one...the old Stamford one sunset'ed on a whole heap of people (stage 1 ones at least) but I guess who thought they got screwed might have the last laugh now.
     
    mini2, 18th Feb, 2016
    #42
  3. C-mac

    C-mac Well-Known Member

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    Are there actually ANY houses being built within say 20KM radius of Sydney CBD?? Seems to me to be 100% apartments only! I know of many housing estates being built at the 30KM and 40KM+ radius of the CBD, but not within that 20KM.

    Even with the ones that are being built, they are mostly cookie-cutter teeny tiny houses on small lots, packed like sardines. I don't have children but I can't help but think; it must be hard if you have more than say 2 kids, to live in Sydney and have proper space.

    Not everyone wants to live in an apartment but I guess within that 20KM radius more people are at the pre-kids lifecycle stage?
     
    C-mac, 18th Feb, 2016
    #43
  4. Gockie

    Gockie Life is good ☺️ Premium Member

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    That's why people are paying 1.25m or more near me, (16km out from the city) knocking those houses down and building again... There is no available land close to the city....
     
    Gockie, 18th Feb, 2016
    #44
  5. larrylarry

    larrylarry Well-Known Member

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    They are now paying around the same price for Telopea. One house on Adderton Rd sold for $1.5m, a standard block. Near me. :) My neighbour 2 doors from me sold for more than $1.5m, standard block and old.
     
    larrylarry, 18th Feb, 2016
    #45
  6. Azazel

    Azazel Well-Known Member

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    Hmf. Weird situation.
    There's a heap near Lewisham station going up pretty quick.
     
    Azazel, 18th Feb, 2016
    #46
  7. Gockie

    Gockie Life is good ☺️ Premium Member

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    I know Dundas Valley is 1.2mill or more. I know Telopea near the rail line is becoming high density apartment buildings if you follow the road down from Pennant Hills Rd Carlingford. This is why land is valuable...
     
    Gockie, 18th Feb, 2016
    #47
  8. larrylarry

    larrylarry Well-Known Member

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    yep, buy land esp in NSW. It's crazy stuff hey? Who would have thought telopea, dundas valley, dundas, ermington, rydalmere have done so well...thanks to Epping, Carlo and Eastwood! Wonder if Camellia might be next one...
     
    larrylarry, 18th Feb, 2016
    #48
  9. mini2

    mini2 Well-Known Member

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    It wasn't all that long ago one of my ex-workmate bought a duplex in Dundas (I swear it's Telopea...) in a street with fibro housos for $650k or thereabouts and I think it's not that far from the train line either. Another workmate laughed at him for spending that much on half a house. The said workmate is still struggling to climb the property ladder :rolleyes:
     
    mini2, 18th Feb, 2016
    #49
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  10. Gockie

    Gockie Life is good ☺️ Premium Member

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    It all falls under Parramatta Council..... Dundas was always going to do well, and the riverside suburbs. Dundas is close to Carlingford,Telopea is next to Oatlands, Ermington and Rydalmere have the Riverside. It's not commission housing anymore.... Only downside I suppose is the lack of quality rail!

    Zoning maps.. More high density coming up!

    http://www.legislation.nsw.gov.au/m...2.pdf?id=e04ff5c9-3748-437e-89c7-fdb95fffe1dd

    http://www.legislation.nsw.gov.au/m...2.pdf?id=f94b0c26-8204-48c4-951b-4da9b0f762d0
     
    Gockie, 18th Feb, 2016
    #50
  11. propernewb

    propernewb Well-Known Member

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    business strategy: go big or go home
     
    propernewb, 18th Feb, 2016
    #51
  12. C-mac

    C-mac Well-Known Member

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    Couldnt agree more re: the value of land in the 20km Sydney ring.

    Thing is, as investors its not smart to tie up 1.2mill of buying power for one sydney house on land, holding yeilds are abysmal! Massivr cap losses which is great during youe 30s and 40s high earning years but as a long term hold, im not so sure.

    Smarter perhaps to by 3 x $400k houses in other cities for that same buying power..
     
    C-mac, 19th Feb, 2016
    #52
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  13. euro73

    euro73 Well-Known Member Business Member

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    euro73, 20th Feb, 2016
    #53
  14. lost nomad

    lost nomad Well-Known Member

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    Some new developments in Alexandria, Erskineville & St Peters are building terraces amongst apartments. I assume they'd be under strata.
     
    lost nomad, 20th Feb, 2016
    #54
  15. radson

    radson Well-Known Member

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    There are 3 I know of in Balmain as well.
     
    radson, 20th Feb, 2016
    #55
  16. bobbyj

    bobbyj Well-Known Member

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    I would like to add here that my Liverpool CBD 3/2/2 unit is now empty and not easy finding a tenant as there are literally hundreds of units hitting the market OTP.

    I've still seen a 45-50% gain in the past 1.5 years but rental yield hasn't budged whatsoever. In fact it'll need to go down to secure a tenant
     
    bobbyj, 20th Feb, 2016
    #56
  17. Gockie

    Gockie Life is good ☺️ Premium Member

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    I know people in Blacktown who have been renting a unit, but a new unit block nearby has come online. So they are moving from the old unsexy (1980's?) unit and moving into the new one....
     
    Last edited: 21st Feb, 2016
    Gockie, 20th Feb, 2016
    #57
  18. teg499

    teg499 Well-Known Member

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    U
    u rekon with all the OTP stock that now is a good time to sell up in Liverpool and take profits ?
     
    teg499, 20th Feb, 2016
    #58
  19. Gockie

    Gockie Life is good ☺️ Premium Member

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    It may not be a bad idea...
     
    Gockie, 20th Feb, 2016
    #59
  20. Omnidragon

    Omnidragon Well-Known Member

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    Take profits. Lots of opportunities elsewhere where you'll make a motza these few years (ie 4-5x your money). And it's not Syd property.
     
    Omnidragon, 20th Feb, 2016
    #60
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