NSW Sydney going OTT

Discussion in 'Where to Buy' started by Propertunity, 20th Feb, 2017.

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  1. Chabs

    Chabs Well-Known Member

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    Could this be the beginning of a turning point? Or is it just fresh OTP places being priced too high and eventually correcting
     
    Chabs, 13th Mar, 2017
    #101
  2. Hwangers

    Hwangers Well-Known Member

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    been happening for around 12-18mths or so - inevitable with the new taxes, foreign investor credit freeze and increased difficulty in moving funds offshore , probably at the early stages of the snowball , should get interesting in the next yr or so

    might as well leak it to the mainstream media - then the snowball will really develop!
     
    Hwangers, 13th Mar, 2017
    #102
  3. sash

    sash Well-Known Member

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    sash, 13th Mar, 2017
    #103
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  4. Hwangers

    Hwangers Well-Known Member

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    Hwangers, 14th Mar, 2017
    #104
  5. sash

    sash Well-Known Member

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    probably some overseas buyer or local who got xarried away

     
    sash, 14th Mar, 2017
    #105
  6. Cimbom

    Cimbom Well-Known Member

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    Cimbom, 14th Mar, 2017
    #106
  7. JDP1

    JDP1 Well-Known Member

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    JDP1, 14th Mar, 2017
    #107
  8. JDP1

    JDP1 Well-Known Member

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    JDP1, 14th Mar, 2017
    #108
  9. Hwangers

    Hwangers Well-Known Member

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    maybe even got a bargain due to the free pool and tennis court
     
    Hwangers, 14th Mar, 2017
    #109
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  10. Cimbom

    Cimbom Well-Known Member

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    Wouldn't leave much room for a house :p

    I'm surprised it wasn't snapped up by developers like everything in Sydney with a bit of land seems to be these days
     
    Cimbom, 14th Mar, 2017
    #110
  11. Gockie

    Gockie Life is good ☺️ Premium Member

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    Well... now lets assume whoever bought it is upgrading from a $2.x mill house that they have nearly no debt on after having bought it a few years back for 600k. Does that change the numbers somewhat?
     
    Gockie, 14th Mar, 2017
    #111
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  12. sash

    sash Well-Known Member

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    sash, 14th Mar, 2017
    #112
  13. Hwangers

    Hwangers Well-Known Member

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    oh yes definitely - lets assume they sell and purchased this one with a million dollar mortgage i.e. $1m @ 4%(good on em) var is $4774 PI and $3333 IO , but wait! theres stamps of $150k - heck loose change really

    lets assume again that you wouldnt want 5 bedrooms to be filled with empty furniture and unslept on beds - so add a kid or two in the mix

    maybe even assume that interest rates remain steady and their earning potential increases - good on em and best of luck

    however just maybe "surely normal PAYG wouldnt cut it!"

    Sydney is crazy
     
    Hwangers, 14th Mar, 2017
    #113
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  14. Cimbom

    Cimbom Well-Known Member

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    Cimbom, 15th Mar, 2017
    #114
  15. Cimbom

    Cimbom Well-Known Member

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    Just came across this development:

    www.modulusluxury.com

    $2.5 million for a 2 bedroom apartment. Who would buy this? You can get a semi or terrace in surrounding areas for that price
     
    Cimbom, 21st Mar, 2017
    #115
  16. bmc

    bmc Well-Known Member

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    bmc, 21st Mar, 2017
    #116
  17. Gockie

    Gockie Life is good ☺️ Premium Member

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    Sydney's inner and middle ring houses are now regularly selling for 2mill+.
    It used to sound like a lot of money....
     
    Gockie, 21st Mar, 2017
    #117
  18. hammer

    hammer Well-Known Member

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    It still is a lot of money....
     
    hammer, 21st Mar, 2017
    #118
  19. JDP1

    JDP1 Well-Known Member

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    Yeah 2 mil is a lot..no doubt... But Sydney is the only place in the country where it is worth it.
     
    JDP1, 21st Mar, 2017
    #119
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  20. HUGH72

    HUGH72 Well-Known Member

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    I remember @Marty McDonald posting this on Somersoft.
    Some things never change, absolute gold.

    "At last we anchored within Sydney Cove; the number of large houses just finished & other building is truly surprising; nevertheless every one complains of the high rents & difficulty in procuring a house."

    - Charles Darwin's Beagle Diary, 12 January, 1836
     
    HUGH72, 21st Mar, 2017
    #120
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