NSW Sydney Property Hype 2017

Yes, it's a bit cheeky calling that attic space a fourth bedroom

 

I have a converted attic like that in the house we're contemplating moving into (sans the bathroom). Was thinking of making that space a home theatre (with AC of course). If anyone can come up with a better use for it I'm all ears.

 

I am actually surprised at this price (higher than expected). In my view, it is an undesirable property. It's an unrenovated semi (already marked down) on a main road (no thanks) in a secondary location. Naremburn is generally considered inferior to the surrounding suburbs and has sizable pockets of housing commission. Naremburn and Artarmon are not bad areas, but would probably be considered the least desirable in the Lower North shore.

 

I think we can all agree that the location of this property isn't the best.

However, my original point was to highlight the apparent cooling of this part of the Sydney market, rather than the characteristics of this particular property and what we think it's worth.

Here are some Naremburn stats to give it some context:



And this 4 br freestanding property has been on the market for 118 days:

8 McBurney Street Naremburn NSW 2065 - House for Sale #126197106 - realestate.com.au

 

Yes Mt Druitt is the new Epping. I hope all the Asian money that cannot get anything in Epping would move to the druitt

 

Hi Kate - Thanks for sharing the real life and current examples.

In your professional experience what do you believe they are looking to sell the 4 bedroom freestanding house for? Thanks again

 

@Bwinny

They listed for $2.85M in September, this is what they really wanted. Last month the auction guide was $2.6M. I don't think that worked out either.

In terms of what I think it could sell for, feel free to PM me @Bwinny.

Regards Kate

 

2.45 would get buyers seriously interested and it would sell in a week.

700m2 vacant block in wollstonecraft sold for 2.6m.

Home on 750m2 in north Sydney for $4m.

 

Auction at 10 Truscott Street, North Ryde tonight was very quiet.

Passed in at 1.82 - indicative estimate was 1.90.

 

Updated Results For LAST WEEK:
Saturday 9th December 2017
Property Snapshot
Number Listed Auctions: 783
Number Reported Auctions: 499
Sold: 344
Withdrawn: 120 (15.3%)
% Cleared: 56%
Total Sales: $361,453,501
Median: $1,280,000
% of Reported Results: 79%

 

Ain't nuttin' yet...wait till you see stuff selling for low to mid ones.....if it is a fibro shack or weatherbaord...thats all its going to be worth.

As I said false economies..to assume that prices will stay up...the to have got out was 2016....even the small gains in 2016 will be unwound quickly...

 

I watched an auction in Sydney today.
It went for a relatively cheap price..I was surprised; I scanned the crowd and not one Chinese, Indian, Asian....

 

Suburb?

 

Real Estate and Property Market News

As I said nuttin' yet...the Maroubra beach front is down about 15% (passed in at 1.28m vs 1.52m plus) from a similar one a couple of months ago.

Bondi...Coogee are also getting smashed....as the tide ebbs out...... I can see plenty of sub 9s for these suburbs for 2 brms....

 

Wow.. that piece of crap in Maroubra wasn't sold for $1.28m? Maroubra is one of those pigs with lipstick. Still a pig. Can't believe the vendor let it pass in

 

Sash.
My Friend is a real estate agent in Coogee. We meet ever Sunday. Your comments re Coogee just don' t make sense.
They had some Of the best months. Leading up to Christmas this year.
He said most are getting above vendor expectations.
I
I will call two friends who are in Bondi agents on Monday.

Although I'm sorry from what they tell. Me your view of Eastern beaches is simply polar opposite.

PS WHATS UP WITH YOU AND Maroubra.

You said last time You. Are Going to auctions
Your wife IS IN Maroubra Going to auctions.

If Sydney is crashing next year or later like you are saying why are You. Going to All the auctions every weekend. It doesn't make sense.
You are saying market is crashing and going to auctions. Better ways to spend A SATURDAY.

 

Saturday 16th December 2017
Property Snapshot
Number Listed Auctions: 510
Number Reported Auctions: 182
Sold: 147
Withdrawn: 29 (5.7%)
% Cleared: 70 %
Total Sales: $122,220,688
Median: $1,070,000
% of Reported Results: 41%

Very low reported stats for some reason.
Interesting that Melbourne still had a large number of auctions this weeked, 1320 with 69% of results reported on. Interestingly on such a big number only 27 Withdrawn.

 

One wonders if a result based on 41% of auctions reported is statistically reliable. At this stage the clearance rate is up and the median down from last week. Will be interesting to see the final figures.

 

The % of reported results will be very close to the final clearance rate.

 

Mate...you need to get out....things have definitely have come down about 10%....that is a fact.

It is not only Maroubra...bit also Coogee, Randwick, Bondi...they have not come off as much as Vaucluse....it is not a crash yet...but prices are coming off.

Most agents starting to move to selling before an auction...this is just a normal market think pre-boom.

As for Real Estate agents...some have no idea....a lot are so young they have never seen a bad market....watch this space.