Sydney's Paddington shoebox sells at record price !!

Discussion in 'Property Market Economics' started by MyDarlinghurst, 12th Feb, 2018.

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  1. MyDarlinghurst

    MyDarlinghurst Well-Known Member

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    Who said Sydney was going down?

    Who was talking the gloom in Sydney's East?

    Not in Sydneys East anyway.


    over the weekend a 21sqm Studio in Paddington advertised at 410k went at Auction for $507,000.!

    also at Auction Clovelly -last Saturday over 100k on the reserve !
     
  2. Noobieboy

    Noobieboy Well-Known Member

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    Meh. It’s only starting. It’s normal that it will go down down, up, down down. Nothing special.
     
  3. lightbulbmoment

    lightbulbmoment Well-Known Member

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  4. datto

    datto Well-Known Member

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    Looking good Mr D.

    Though with that money you could buy a 3/1/1 house on 560 sq metres of land at Mt Druitt.

    A small shoe box is not good for the mind. It will drive you crazy.

    In the Druitt you'll get room to move. The craziness there is mostly inherited.
     
  5. ShireBoy

    ShireBoy Well-Known Member

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  6. WattleIdo

    WattleIdo midas touch

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    Last edited: 12th Feb, 2018
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  7. MyDarlinghurst

    MyDarlinghurst Well-Known Member

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    But i will probaly have neighbours Shaz Daz and their 6 kids to all different fathers who will have old cars in their front yard and take the side fence down.

    And Shazza will be having her 7th whilst Dazza sits on the front verandah with his bottle and bong
    Welcome to Mount Druitt:eek:
     
  8. Illusivedreams

    Illusivedreams Well-Known Member

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  9. Cimbom

    Cimbom Well-Known Member

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    Back in Canberra!
  10. paulF

    paulF Well-Known Member

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  11. Zoolander

    Zoolander Well-Known Member

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    $106k extra two years ago would get you a 877sqm 3:2:3 in the Central Coast.
     
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  12. sash

    sash Well-Known Member

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    Shalom....you also forgot about Mordecai...Moshe and Aaron....
     
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  13. Lucky Lad

    Lucky Lad Active Member

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    It’s a good bachelor’s pad. Close to the city, it’s a great place to bring the spoils of the night, have a one night fun.

    Also good for those who are enjoying the outdoors most of the time.
     
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  14. Lucky Lad

    Lucky Lad Active Member

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    This one is surrounded by Sydney Park, very bucolic rolling hills, joggers paradise, with a swan lake and a bonus gay beat at night :eek: o_O

    But there’s the WestConnex spaghetti highway under construction nearby. When people realise how noisy/polluted it will become, I expect the prices to drop. :oops:
     
  15. Tenex

    Tenex Well-Known Member

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    was snapped up by a young family downsizing from a five-bedroom home in the Hills District.


    Thats a nice hidden gem in that article you posted on how well Hills District has done to generate wealthy buyers who are buying elsewhere in Sydney.

    I have always been a fan of Hills District. They are building Australia's biggest shopping mall there plus the train line going in, plus the close proximity to Parramatta.

    I own a property there which I bought in 2014 and turned into a duplex under one title (two seperate tenants and two income). I believe I could make closer to half a mil in gross profit if I sold it today but I am holding off.

    For now Hills district arnt allowing many subdivisions for duplex but if they do in future that area will be gold.
     
  16. MyDarlinghurst

    MyDarlinghurst Well-Known Member

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    Omg we dont venture past Bellevue Hill and Bondi :rolleyes:
     
  17. JDP1

    JDP1 Well-Known Member

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    This result for the studio shows that you are better off buying even a bs little shoebox in Sydney than mansions in a place like Brisbane. :)
     
  18. KinG3o0o

    KinG3o0o Well-Known Member

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    awesome rent too. and low vacancy
     
  19. Paul@PAS

    [email protected] Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The subdivisions west of Rouse Hill are where the unmined gold are. In a few years a hell of a lot of people will see a completed Metro line and think that area is 30mins to the city. Box Hill, Riverstone, etc all the way through to Windsor. Then expansion north through Annangrove etc. It suddenly easier to get tho Chatswood, North Syd, City.

    The overabundance of apartments above and along the Metro line remain a concern. Even some major developers are baulking at the scale and risk with so much airspace planned for towers - Castle Hill is one of the few places they have started to build and its not selling that fast is the word on the street. $1.3m+++++ for an apartment in Castle Hill ??? Meh.
     
  20. qak

    qak Well-Known Member

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    [QUOTE="[email protected], post: 538161, member: 48"a lot of people will see a completed Metro line and think that area is 30mins to the city[/QUOTE]

    Is that really the projected travel time on the metro? I found an older article saying 37mins to Chatswood, but am not sure what's current.

    I'm 15km from the city and it takes 40+ mins to get back here in a tin can without a/c ...