NSW Sydney prices falling fast

Discussion in 'Property Market Economics' started by igor1234, 2nd Apr, 2022.

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  1. TheBigDawg

    TheBigDawg Well-Known Member

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    umm

    that property is still for sale (6 weeks after your post) and now they updated the guide to "offers invited"

    https://www.realestate.com.au/property-house-nsw-castle+hill-139079091

    The Sydney market is 100% falling - there are certainly outliers, but generally is falling quite fast.
     
    Tupak likes this.
  2. Gockie

    Gockie Life is good ☺️ Premium Member

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    Not an A grade property, looks like it’s at the end of a subdivision. They are also using an agent in Rhodes.
     
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  3. Lacrim

    Lacrim Well-Known Member

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    People may faff around the chaff, but they don't waste time acting on the wheat.

    They know if they lowball too hard or deliberate, they'll miss out. I've learned the hard way (several times) unfortunately.

    There will always be several buyers lining up for good properties, even when the market is soft.
     
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  4. ParraEels

    ParraEels Well-Known Member

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    June 2022 - $ 875,000
    Feb 2022 - $ 980,000

    $150,000 lost in transaction Screenshot_20220629-165245_Realestate.jpg Screenshot_20220629-165302_Realestate.jpg
     
    carfield, David_SYD, Redom and 6 others like this.
  5. southern-investor

    southern-investor Well-Known Member

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    ^ those kind of sales you really need to wonder who are these ppl.

    Buy in Feb and sell in June? What are they trying to do here? Complete idiotic move in my opinion. Trying to time the property market and playing it like the stock market is a fools game.
     
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  6. Tofubiscuit

    Tofubiscuit Well-Known Member

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    What in the world. Get a second job and service that mortgage. It’s not even that big. Or rent it out and live cheap somewhere
     
    KBHV likes this.
  7. sash

    sash Well-Known Member

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    Nutin dude.... Revisit St Mary's...Mt drioue suburbs in 18 months
     
    Last edited: 29th Jun, 2022
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  8. ParraEels

    ParraEels Well-Known Member

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    $1,000,000 drop in asking price.

    Sea change is coming...

    Screenshot_20220629-194849_Domain.jpg
     
    carfield, Von H, Tupak and 3 others like this.
  9. Property Baron

    Property Baron Well-Known Member

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    Last sold for 700k nice profit. Obviously the 3m asking price was a serious joke, who knows why not try when the market is hot. Terrible sea spray there, wouldn't leave the windows open lol
     
  10. sash

    sash Well-Known Member

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    They better hurry up and sell otherwise it might be 1.7m:p:D
     
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  11. Property Baron

    Property Baron Well-Known Member

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    Yep sell up and join the mid North Coast movement, still booming up there!
     
  12. sash

    sash Well-Known Member

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    Nah not buying anymore.

    Will only buy a PPOR in Sydney. I'll scare half the pounces there
     
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  13. igor1234

    igor1234 Well-Known Member

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    where abouts in mid north coast?
     
  14. Property Baron

    Property Baron Well-Known Member

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    It's a big place but there's 5 new million dollar suburbs in Coffs region alone, Koror, Sapphire, Moonee Beach, Bonville, Bellingen ect
     
  15. lynchy

    lynchy Well-Known Member

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    Could have been a typo?
     
  16. TheBigDawg

    TheBigDawg Well-Known Member

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    i very much doubt it was a typo....
     
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  17. 2FAST4U

    2FAST4U Well-Known Member

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    It's definitely out of the norm. I'm guessing it was unexpected circumstances like divorce etc. as transaction costs and taxes incentivise against treating property like stocks.
     
    southern-investor likes this.
  18. standtall

    standtall Well-Known Member

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    As per RP data, initial listing price was for $2.295m. Valuation is $2.13. This is a very tiny coastal suburb with very low sales activity. Only one sale in last 6 months so houses there take quite a while to sell.
     
  19. DavidDavid

    DavidDavid Well-Known Member

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    GEEZ 980K paid for a townhouse.... I wonder why so many people are escaping into QLD and other cheaper parts of Australia.... GEEEEEZZZZZ!! I buy 2 indipendent houses in QLD with this budget, even close to Brisbane. Live in one, Rent the other and live a work free life. ;-)
     
  20. igor1234

    igor1234 Well-Known Member

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