Sydney house prices recovering

Discussion in 'Property Market Economics' started by standtall, 18th Sep, 2018.

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  1. datto

    datto Well-Known Member

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    Big business is investing 75 billion into WA mining. This will flow through to the Perth property market where investors will cash them themselves up and splurge their dough in Sydney. I'd say Mt Druitt would be an ideal spot because its cheap. Yep, all good.
     
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  2. Eric Wu

    Eric Wu Well-Known Member Business Member

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    we had quite a number of FHB during the past 3 months, most are in Western Sydney ( a small number from Inner West ), the contracts came across out desk seem really good value ( Western Sydney,comparing with 2 yrs ago). good quality houses ( location, land size, ..) seem holding their value better.

    difficult to say whether the prices are stablising or dropping, it is a unpredictable period to time. but can't see prices are going up ATM.
     
  3. Whitecat

    Whitecat Well-Known Member

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    I'm hearing other reports of Western Sydney having huge falls particularily fairly new otp stock. Any new build done in the last 3 years out that way is going to be really badly hit I believe based on what I've seen from that type of property in other Cycles
     
  4. Eric Wu

    Eric Wu Well-Known Member Business Member

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    Not sure about the new OTP stock, but I would agree with you.

    My FHB clients were in the established houses market, good value there. Definitely not the OTP.

    These OTP, (land +house, might be better), valuation could be a real problem.
     
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  5. Illusivedreams

    Illusivedreams Well-Known Member

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    Not sure where?

    Maybe fresh OTP greenfield sites with hardly any amenities. Also sites like Ponds in the north west. These are new areas fresh shiny houses and alot of them together. When shiny and rising market they attract premium when market is falling an they are 5/10 years old the opposite.

    But people talk about western Sydney ....

    The whole of Brisbane (2 million) can fit into Western Sydney.

    So cant generalize so much.
     
  6. Illusivedreams

    Illusivedreams Well-Known Member

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    Lets say you build a new home in Chipping Norton 2014/2015 you are fine.

    If you bought in Eastern Creek in a new area far from city far from water **** climate yes it will fall and for right reasons it was a always a average area.
     
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