NSW Watching the Druie Drop in Slow Motion (2018)

I won't trust media though as they change their views every day - but it's true that prices are falling as we all are seeing it first hand - may not be a significant fall yet, but power is now moving to buyers' side for sure.

 

Based on the auctions I went to on the lower North Shore...its headed down....very surprised on some of auctions...it was painful....lots of people but only 2 bidders..and it was pulling teeth to get 35k more!

 

I prefer the ones where there's only one bidder.....and the vendor is desperate.

 

So...seeing we live in a global world...,and our buddies in the US have been printing what scrooge likes so much like mad, and so have others, and many asians are building militarily, how does this all sit for us uncle Sash McDuck.......

Should we worry about inflation from scrooges turf and others..or should we say forck it and buy 10 mil more in the SW and West......

Mmmmmm buying time again

 

Good luck with that one...

 

I dont get it MTR.......but you and those playing in US should also watch closely........

The world economy is eff ed, it could keep going along, or fall in a heap due to many wound up springs.

The danger each year moves closer to unwinding.

 

I find you guys entertaining with how you reply...

not sure what I am meant to be denying @sash etc etc ? never said it wouldn't crash (well maybe I said not to 300k or whatever your original guess was). not sure anyone is saying it will go up forever either

All i read is the same crap for years, 'reached it peak', 'whats being reported doesn't match whats happening on the ground', 'my best buddy real estate agents are calling me in desperation',.. blah blah blah..you guys reply/post with thinking you are gods..you have no idea anymore than the next guy (or octopus)..sure you will be right one day.

so the stats on medium price for nth st marys I posted above, by replying with 'denial' etc you guys are saying they are wrong? I dont understand your reply. If that is what you are saying can you please detail as to why they are wrong. and no don't just reply with something that is not related

 

REA friends at Western Sydney have the first hand experience of slowing down( or going backwards right now), 10% off the peak price is the new norm.

 

Would be great if you narrow the location a bit. Western Sydney is pretty big...

 

up Blacktown way,

 

S1mon ....the stage is yours.....the audience is listening.....the market did come off in late 2016.....it is now heading towards where in 2019-2020...Sydney will have a correction. Normal modus operandi....onya mate.....

No gods here just some investors who got the trajectory somewhat correct.....and did not get too emotive.

 

sigh..typical reply

 

back to the original question, how is Mt Duruit doing so far? can ppl with IPs in Mt Duruit provide some insights pls?

interested to know.

 

It's come off the boil. It's not crashing, (yet) but there are a few asking under $500k. This one is a stand out for me. Its a 4 bedder in Hebersham. While I don't know the sell price, Hebersham is often gets a small premium in the area, so does being a 4 bedder.

44 Macartney Crescent Hebersham NSW 2770 - House for Sale #124797470 - realestate.com.au

 

Mt Druitt hasn't and all of the west hasn't seen any drop as far as I'm seeing. Anyone can post something to support their argument. That house above would need $60k+ easily in renovations just in the kitchen and bathroom alone.

Here is a good example of a nice, clean house with basic renovation..Sold for the upper price bracket. As of 12th March the median 4 Bed is $765k. Which I believe has increased from last month since Datto posted which was under $760k (cant find hist post).

13 Sage Street Mount Druitt NSW 2770 - House for Sale #127738882 - realestate.com.au

 

Yep typical reply from all the pros on here. Reply with some rubbish response that has nothing to do with your question and has no backing.

 

The ad says sold $435k. It does look tiny inside, I suspect bed4 is an enclosed dining room or similar. Even so does seem cheap even as a 3br

 

Again, we're talking apples & oranges. Most when talking Mt Druitt are talking the cheaper end of town.

Homes in a worse condition to the one I posted WERE fetching over $500k. Heck, I sold a 4 bedder in Tregear over 2 years ago now for $490k.

 

That is pretty cheap....compared to a couple of years ago.

I have noted a lot now under 500k....its not only the Druie....the Northern Beaches has also come off now...it was doing really well a couple of months ago.

Agents are now more open about it and that the market will come. They are starting to submitt every offer to vendors again.

I don't it will come off all at once but within the next 2 years you could see some with 3s in the front.

Those who sold before between mid 2016 and mid 2017 would have sold at the most opportune time. So would have maximized their profit.

 

I didn't see that!

Nah! It's a genuine 4 bedder. We had one same layout ages ago. But you are right, it's only small, but that's the style of the old HC places.