NSW Sydney Price Correction 2019 - post examples

Yes....it is crazy but I am seeing some much smaller but well renovated places going for crazy prices even in the current market. The downsizers have serious coin...this is trend which is going ton continue.

 

???
in the 70's we always referred to the suburbs of Blackett, Whalan, Lethbridge Park, Darruk, Emerton, Hebersham as part of Mount Druitt.
They were all part of the new land release back in the 1970's, but maybe things have changed and now they have their own identity.

but you know the old saying, "you can take the boy out of the west- but you cant take the west of of the boy"

 

Yep, I see this a bit, flog a big home and a little well presented semi / terrace / garden aparment feels cheap no matter what you pay. Must be a flat block though.

This property boom has priced heaps of people out, combine that with a shift with people wanting a smaller home across the entire demographic and all of a sudden there's a stack more interest for the moderate, small home which is affordable vs the beautiful mansion. The price differential will converge over time I think until the next boom.


I dont know the answer but at a big guess I would assume something like the ponds which are new small homes have held up better than some surrounding areas with big old quarter acre blocks? Interested to know if this is correct!!??

 

Thanks - appreciate your thoughts.

 

Mount Druitt is a suburb not a shire or a perish.

A suburb when talking about Suburb is that. It's not an area.
Say Sutherland Shire can encompass everything from Engadine to Cronulla could be 10 + suburbs.

Mount Druitt is a suburb. The others you refer to a Suburbs

Mount Druitt is part of Blacktown city council encompassing suburbs as per link below

Our suburbs

.

 

In my opinion only.
Small cheaper homes held up better because they are more affordable. In so people are able to get finance for them.

People compromise when they have no choice. This in area of North West to smaller more affordable homes may be one of compromise rather than want.

This is an an opinion only.

This will be different in other parts of Sydney
my responce is for the Ponds

 

No thingd have not changed that much. Just the houses are older....but you are spot about the boy from the West!

This is trend which will continue based on demographics....the demand for larger blocks with large house is definitely waning!

 

We have friends that paid $1.45
They love it. The ahve friends over once per months.
Their kids love it.
They just installed pool heating.


The have 0 care of what the house is worth. They will live in for 30+ years maybe more.

Not every one looks at figures daily.

Maybe ask the person at 55 Viceroy Ave why they paid the price.

Soooo man more reasons than they are stupid and overpaid.

 

31A Blaxland Road, Killara, NSW 2071

Paid 2.7m in 2017, back on the market with 2.15 guide price, given the recent sales it's unlikely to be sold over 2m. Looks like close to 30% loss to me.

 

What would you pay for this one? I believe it has gone under offer around 1.45m although still advertised....14 Stringybark Place Castle Hill NSW 2154 14 Stringybark Place, Castle Hill, NSW 2154

 

Hmmm yes but this is a property investment forum where most care about value, not overpriced pool heating

 

Looks like Western Sydney has hit its bottom in March/April, there were some good sold deals back then, not quite as good so far in May.

 

Cheers mate.
Over the few years I have realised alot of of people on this forum are not property investors.
They are on to learn about property to help them purchase their own.

Further most property is owned by home owners not investors and in so phycology has a lot to do with it.


You also have a great attitude for some one who has been here two weeks.

Or maybe a wolf in sheep's clothing?

 

I have found that most people regardless of whether purchasing a PPOR or an IP prefer not to overpay.

But I guess everyone is different

 

Ditto...keep posting mate...some on here have only seen on cycle....word in town is that the full impact of I/O will not hit till about 2020...it will get interesting...

 

I find when some one needs a home for their family and does not know the future and pays market price.

Is it overpayment or was the market at the time.
Yes everyones reasons are different. So assuming people are stupid for making market price at the time is ignorant.
Let's leave it at that.

We will not agree.

So I agree to disagree.

 

Also - OTP development completions peaking later this year...

 

True.
But you have been bearish as early as Your 2014 Somersoft posts.
So its hard to take your perspective as you are primarily negative (sentiment) within the last 5 years

 

I live in West Pennant Hills. My neighbourhood is off modestly, but not much... most the sales are going to Indian or Chinese buyers who still value prestige/ look at me houses... never underestimate the "look at me" factor in certain communities...

 

solid enough home, but unremarkable for the area.. Appears to be in good condition but will need a 200K + makeover eventually...unless you like 90's styling. It doesnt compare to these for example...

14 Banks Road, Castle Hill, NSW 2154

22 Brae Place, Castle Hill, NSW 2154

15 Adey Place, Castle Hill, NSW 2154


what you'll find in the Hills is that unrenovated 20-30 year old homes like the one noted above are falling. The A+ stock that's been well renovated is holding up much better .... still falling but its modest by comparison.

During the boom, A,B and C stock was getting top dollar. Not any more.

But really, thats everywhere across Sydney if we are being fair