NSW Sydney going OTT

Cycle to cronulla! that is really far. I only cycle with kids from summer hill along greenway to the Bay Run track.

 

Buyers guides aren't always inaccurate. We actually were pursuing this Glebe property for a client and unfortunately were the underbidders on Sat with it selling less than 10% over the $2m revised guide at $2,141,000. It sometimes does actually depend on the level of interest (and some would say madness ) from the buyers and their willingness to go over and above FMV. Not all agents underquote, believe it or not....

 

A block of eight apartments in Bondi sold for almost $12 million yesterday
Sydney real estate: Bondi apartment block sells for $11.6m to mysterious Eastern Suburbs identity - realestate.com.au

 

Wow @Jello_B any reason why she wanted Mosman? My wife moved up to Sydney and we chose Strathfield as a nice central location to rent. Its a 1/1/1 and 3 mins walk to the station for $350 per week and thats good for us with lots of amenities within 5 mins walk. I feel like the space is adequate for our needs and we have no need to use our cars during the week!

 

@Pentanol That seems quite cheap in Strathfield.
I remember when I rented a 1/1/1 in Strathfield, that cost me $400 per week in 2010!
(It was the "newer" apartments in Beresford Rd - built in early 2000).

 

@neK Yeah we were pretty chuffed with the price but obviously its like a 30-40 year old apartment so nothing like your new place! The only thing we wished we thought about was the aircon which the place lacked but its no biggie! We didn't have to offer more than the asking rent or more than one month bond which was another win!

 

@Jello_B it looks to be a strata complex (SP56471). which will typically have common property, common walls, body corp fees etc., you basically own the airspace.
NB: However i have set up some Strata Schemes to minimise the common property and give ownership of the part or all of the building to individual lot owners. (it becomes complicated)

with a TorrensTitle (freehold title (green title - WA terminology) townhouse or terrace etc. there will be separate services, you own the structures within your parcel boundary, if there is a common wall, it (should) will have an easement for support (cross easement) over that wall.
there are some freestanding terraces around, but generally developers built a row of many over several lots.

welcome to Sydney

 

Thanks BMC, won't I own my portion of the Body Corp (ie land).

 

correct. the building, walls, services etc are generally common property within the scheme unless noted on the plan or additional bylaws.

 

Surprise Sydney suburb slips into world's top 10 for wealthy property buyers

Woohoo! I own a couple in the area. Thanks Jen.

 

Well this clearly isn't accurate. No one in Sydney had the foresight to make roads that wide!

 

Sold at auction for $1.48M. Enthusiastic bidding from several home buyers.

 

Thanks, I think I could be around that money.

 

I seriously can't make sense of any of these prices

13 Smith Avenue Hurlstone Park NSW 2193 - House for Sale #124712074 - realestate.com.au sold at $1,990,000 on the weekend

8 Acton Street Hurlstone Park NSW 2193 - House for Sale #124671170 - realestate.com.au sold at $1,450,000 it's on a 360sqm and is completely unrenovated

I don't know how can anyone afford to buy a house in inner Sydney and I can't see how it can be good for Sydney

 

Don't try and understand the market - just ride the wave know how to take advantage of it. that works in the financial markets. I think same can be applied to property, because it has become like financial market.

 

I went into one of the Big 4 banks last Friday to get quotes for insurance...

when business is finished, the banker leaned over and said " would you like to be informed if any of the of the plan contracts fall over?" i had to do a double take...

Apparently now that this particular bank is no more looking at foreign income for financing purposes, many of the foreign investors of these off the plan are going to be caught out soon...

The banker also told me she has passed two contracts over to her other customers...at a 100K discount to original price...

Suburb: Carlingford

 

My conveyancer told me that her foreign clients who haven't been able to get finance from local banks have gotten finance from places with very high interest rates so their plan is to settle and then on sell their properties. Foreign buyers are now only buying if they get vendor finance, eg from Meriton. So the question is, for the foreign buyers who cannot get any finance to settle, how will they pass on the contract ? Is it through the banks like you mentioned Virgo, or other avenues ?

 

The fall over is already happening...that contagion will spill over to houses...watch what happens over the next 24-30 months...

That is nuts...the people who are paying these prices are rank amateurs the smarts ones are getting out...quick smart....