Sydneysider open houses and auctions

Discussion in 'Introductions' started by Blueshoes99, 24th Aug, 2019.

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  1. Blueshoes99

    Blueshoes99 Well-Known Member

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    Hi all,

    I’ve gone to close to 50 open houses and auctions and it’s certainly been interesting.

    The Sydney market - hills, north shore is super weird at the moment.

    Saw an auction today and it was passed in. Close to schools, shops and transport.
     
  2. Rugz06

    Rugz06 Well-Known Member

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    Kirrawee - Property advertised for $800 guide. Moved to $850-900k guide after 1 open 4 weeks back. Sold for $1020k today.
    This was a 3/1/1 I think, needed either a knock down or a complete strip. O
    verpriced in my eyes, similar properties around and in much better livable condition for 1.1-1.2m. A house 1 street away sold for 1.4m this was an amazing home, pristine condition, 6/3/3 with pool.

    I went to 12 opens today. Generally 30% of the same people going between properties. Due to the higher numbers on the market it was a much wanted relief. A lot less people at each open. I'd say around 60-70% less than 3 weeks ago … must have been just spread around now. Meaning, more supply, less pressure on growing prices?

    So my thoughts on the auction price.. possibly due to lower stock numbers, people had their eyes on this place and committed a few weeks back to ensure they were going to get something before a future rise in prices? Who knows but I was very surprised.
     
  3. highlighter

    highlighter Well-Known Member

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    Ultra low volumes makes it hard to get a good result for Sydney, and this has caused clearance rates to bounce all over the place. The fact Sydney results are so low as to be statistically unreliable (mathematically speaking) is very weird. Meanwhile, a legitimately strong result in Melbourne.
     
  4. Blueshoes99

    Blueshoes99 Well-Known Member

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    Went to Thornleigh house today and they wanted $1.7 and it was not worth that amount. The property has been listed for 2 months but I guess if there is a lack of stock people will pay.
     
  5. Hetty

    Hetty Well-Known Member

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    Will they? They won’t just rent with the cheap rents at the moment?

    I’ve sold and I’ve been looking for a few months, and there’s nothing I’m interested in at the moment, so not buying. Hoping more comes on the market in spring.
     
  6. Blueshoes99

    Blueshoes99 Well-Known Member

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    Yeh rent is pretty cheap everywhere even in the mosman area.
     
  7. spludgey

    spludgey Well-Known Member

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    A house went for auction in my street in Carlingford today. $1.52m! :eek:
    I think that's back to the peak, if not higher!
    We'll have to wait and see if it's an outlier or not.
     
  8. Blueshoes99

    Blueshoes99 Well-Known Member

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    Yeh I’ve seen a few properties at this price at carlingford... I really like the area.

    Big new houses too- was it a brand new build?
     
  9. spludgey

    spludgey Well-Known Member

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    It is a very nice area. Very quiet as well.

    Click on the hyperlink above and find out! ;)
     
  10. Blueshoes99

    Blueshoes99 Well-Known Member

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    Big house!
     
  11. spludgey

    spludgey Well-Known Member

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    Definitely not for the area! Hard to find a 3 bedroom house here.
    In this part of Carlingford the minimum block size is also 750m2. It's a bit of a different market to the other side of Penno road.
     
  12. Blueshoes99

    Blueshoes99 Well-Known Member

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    Oh I seeee. What is the bus like? Does it come often and into the city?
     
  13. spludgey

    spludgey Well-Known Member

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    At the corner of Oakes Rd and the M2 there is a bus stop. Usually leaves every 10 minutes or less and outside peak hours, it takes half an hour to Wynyard.
     
  14. Blueshoes99

    Blueshoes99 Well-Known Member

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    Real estate agent sent me an email basically saying he did the best job ever selling a house with lots of contracts sent out and lots of bidders. I would this this should be the norm and not the exception?
     
  15. Blueshoes99

    Blueshoes99 Well-Known Member

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    Received an email from a real estate agent who informed me a house (older not renovated) is $2.5 million dollars (pricey but not surprised) but then he tells me the property is currently being rented for $10,000 a month! I was like this can’t be right!!!
     
  16. Gockie

    Gockie Life is good ☺️ Premium Member

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    You've completely undersold the frequency.

    Screenshot_20190828-075938_TripView.jpg
     

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  17. spludgey

    spludgey Well-Known Member

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    I meant an off peak time frequency, but even then, you might be right. I usually don't even look up the bus times if I need to get into the city. It's never a long wait.
     
  18. Gockie

    Gockie Life is good ☺️ Premium Member

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    Sorry! It was the way you wrote it. Definitely a heck of a good service.
     
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  19. Blueshoes99

    Blueshoes99 Well-Known Member

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    Omg did anyone see the sold price of 111 Essex street Epping!?! They advertised for $1.6 but it got sold for $2.36!
     
  20. Gockie

    Gockie Life is good ☺️ Premium Member

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    Hi Blueshoes, do you want to meet up sometime? It looks like you want to buy in my neck of the woods :)
     
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