Sydney smart buys this weekend... get in quick!

Discussion in 'Property Market Economics' started by Gockie, 11th Mar, 2016.

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  1. Scott No Mates

    Scott No Mates Well-Known Member

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    @Gockie - That's really sticking it to them ;)
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Note: It's a rennovator too - how much more do you need to sink into this one?
     
  3. inspiredbyprop

    inspiredbyprop Well-Known Member

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    Anyone know what is the main factor to high strata in this kind of property? I don't think the high property price is one. May be the insurance? or daily upkeep maintenance (since it's a wharf, more maintenance needed for the wooden structure underneath the building) ?
     
  4. hammer

    hammer Well-Known Member

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    All up that's 28k a year.......$540 a week.....on top of an enormous mortgage. Just for the privelidge of living in your own property.

    Speechless.
     
  5. Gockie

    Gockie Life is good ☺️ Premium Member

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    I'll assume anybody buying that won't be buying it using a mortgage....

    The thing with the "smart buys" section of the Domain is that i'd expect those listings to be something that is targeted for first home buyers or the upgraders market. Not the 1%....
     
  6. Spiderman

    Spiderman Well-Known Member

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    If the SMH/Sydney's Domain is anything like The Age / Melbourne's Domain their target market is most definitely not average earners 30km from the city.

    Instead they target properties in the inner 10km (or fashionable coastal, hill or semi-rural hideaway locations) that are only affordable to the top 10-20% (or less) of the population. The rest of these papers tend to cater for the tastes of those who like to think of themselves as being in the top 10-20% of intelligence.

    Printed ads are basically dinosaurs these days. Those like Domain survive due to perceived prestige of print (which might appeal to elderly vendors) and the desire for agents to get their face and name in print. In any event printed ads, particularly in expensive publications like Domain, will be skewed towards the dearer properties. Ditto for the articles which are often nothing more than lead-ins to ads.
     
  7. Gockie

    Gockie Life is good ☺️ Premium Member

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    Yes. However the section is called "smart buys".... not "you wish"....
     
  8. EN710

    EN710 Well-Known Member

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    Smart buy for people with net worth of $300M ;) buy 1.9M now sold for 3M later :D

    But it might be smart buy ... In getting commission to the agent
     
  9. Gockie

    Gockie Life is good ☺️ Premium Member

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    More Sydney "smart buys" this weekend. Take your pick. All yours for no more than 2.5mill. Choice of 2 apartments or a townhouse or a terrace. One of these properties even gives you the priviledge of a $5150 pq strata levy.:eek:
    And all of them come with at least 1 carspace. That makes it smart too. o_O:cool:
    20160416_114858.jpg
     
    Last edited: 16th Apr, 2016
  10. See Change

    See Change Well-Known Member

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    Only just saw this .

    That North Sydney one is actually not to bad , 4 bed, 2 car's . Don't know the street . PPOR though .

    Cliff
     
  11. Gockie

    Gockie Life is good ☺️ Premium Member

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    Would have to see how much it commanded at auction which was 4 weeks ago
     
  12. JDP1

    JDP1 Well-Known Member

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    it is a smart buy as 99% of sydney investors fit into that category
     
  13. EN710

    EN710 Well-Known Member

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    So I'm the unlucky 1% :(
     
  14. Carrytrader

    Carrytrader Active Member

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    It's all about perspective. If you run a lot bigger budget then it can be considered relevant.
     
  15. Gockie

    Gockie Life is good ☺️ Premium Member

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    True. But me personally right now if someone gave me 2.5mill for property I would not be buying one of those. But maybe I would if I was a gadzillionaire....
     
  16. Graeme

    Graeme Well-Known Member

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    Here are links to the articles mentioned above.
    I'd argue that these aren't houses for the 1%, but rather the 0.1%. To get into that income bracket you needed to earn over $600K in 2012, and probably $650K or so now.

    None of the properties look anything special. If you consider that the amounts being discussed are equivalent to a lifetime's earnings for someone on a median wage, it shows how far out of step things have got in inner Sydney.

    Still, Domain were asking whether a Seidler designed house should be knocked down, and that's guided at $2.75 million. I guess that they're not appealing to the average guy.
     
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  17. JDP1

    JDP1 Well-Known Member

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    I like the BC on those - cheapest is 10k+ per year :). Should be very manageable for sydney siders. :)
     
  18. datto

    datto Well-Known Member

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    Is that in the Druitt?
     
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  19. dabbler

    dabbler Well-Known Member

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    And people wonder why other journos come up with the stories on how crippling and impossible it is to ever get your own home in Australia (we should rename Sydney, Australia, inner Sydney I mean).
     
  20. Azazel

    Azazel Well-Known Member

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    That's true.
    Percentage wise it's probably like paying <>$100/wk for a cheaper place. I don't get it.