Sydney Price Correction 2019 - post examples

Discussion in 'Property Market Economics' started by Charch, 1st Jan, 2019.

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  1. Charch

    Charch Active Member

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  2. Cimbom

    Cimbom Well-Known Member

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    Back in Canberra!
    Any thoughts on how much this will go for?

    Address available on request, Potts Point

    Would be pretty cool to get the chance to design the whole inside of that just for the creativity aspect. Lucky person that gets that one...
     
  3. Shogun

    Shogun Well-Known Member

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    Good deal at $400k ?
     
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  4. Car tart

    Car tart Well-Known Member

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    $6- 8 million
     
  5. Dean Collins

    Dean Collins Well-Known Member

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    Not all of them aren't.

    I know its only anecdotal as all of my IP's are the same type (eg. older style 2/3 bed, 1/2bth, 1-2lug apartments from the 70's to the 90's etc) but the average rental price of my Sydney IP's went up in 2018 by 1.97%

    And all were re-rented by the existing tenants for another 12 months with the exception of 1 that was re-rented for 6 months as they are getting married/buying a property in 2019 so we did a short extension now rather than find new tenants this time around.
     
  6. CHE

    CHE Active Member

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    Narraweena vacant 556sqm land (DA approved), listed for $790k

    Previously bought Jan-2017 for $900k

    Build cost listed as ~$500k, on a very steep block where "usable open space is almost non-existent and the deck will act as the private open space for the residents". So the $1.3M+ still seems quite a lot when you wouldn't get any backyard to use.
     
  7. hammer

    hammer Well-Known Member

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    I think that is the best explanation of the affordability problem that I've ever read.
     
  8. sash

    sash Well-Known Member

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    Yeah for people who are rational the rabid froth at Sydney investors who thunk Sydney never goes down or Logan CF types that would not be welcome comments. :p
     
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  9. Lincsus

    Lincsus Active Member

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  10. Someguy

    Someguy Well-Known Member

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  11. Jana

    Jana Well-Known Member

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    Here is another one for 500k. Never ever seen this price range in Seven hills last 4 years. First time over 500 m2 land property for bargain. I think more yet to come out, say by end of this year 450k range.
    47 Athabaska Avenue, Seven Hills, NSW 2147

    Blacktown is coming down quite substantially. Already down nearly 10-15 %.
     
    Last edited: 7th Jan, 2019
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  12. Joseph Skewes

    Joseph Skewes Well-Known Member

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  13. Charch

    Charch Active Member

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    Sold price has just been updated. Sold for $1.1M which is $100K less than the initial asking price about month ago!

    Bargain or just the expected value for area now?

    Great time to be cashed up!
     
  14. sash

    sash Well-Known Member

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    Imagine if houses in Seven Hills are selling for 450k.....the overpriced houses in Mt Druitt will be in low to mid 3s....frankly I can't see too many under 500k though in Seven Hill ..that means houses under 400k in the Druie. ;)

    Ryde council has made it difficult on dupexes and multi-unit developments.I think we will see some houses breach the $1m mark in North Ryde by end of the year and early 2020.
     
  15. Illusivedreams

    Illusivedreams Well-Known Member

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    Hills were highly overpriced for amenities distance to the beach and climate.
    Highly overpriced. My friend was shopping a few years ago for Castle Hill as it was running up. I was shocked as I didn't see the value now coming down like a brick.
     
  16. Car tart

    Car tart Well-Known Member

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    Saying Seven Hills is in the Hills is like saying Bankstown is in the Shire.
     
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  17. sash

    sash Well-Known Member

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    Errr...comrade.....Seven Hill is next Blacktown......and it ain't anywhere Castle Hill....the only thing in common is "Hills"...
    Yep.. ...by the way Bankstown is closer to the Middle East....and the Shire is Closer to the back of Thargaminda....;)
     
  18. Illusivedreams

    Illusivedreams Well-Known Member

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    Hehehehe

    Same ..Same hahahahaha 17min drive to Castle Hill
    31 minutes to Bankstown

    But I do take the point.


    In all seriousness North West Sydney over shot in my opinion.

    Just my opinion.

    For me I value promximit to water,city and amenities.
     
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  19. Lincsus

    Lincsus Active Member

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  20. Foxdan

    Foxdan Well-Known Member

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    1.28million for a house in the ponds... still massively overpriced....