Watching the Druie Drop in Slow Motion

it is a lot..600k...no doubt.
At the end of the day, it comes down to su[pply and demand.
Yes, people are willing to pay 600k for the druie
and supply is probably low as @datto said..
The biggest demand driver for the driue would be, in my opinion, sydney and the jobs/economy there ( despite being so far out). this doesnt necessarilly mean the drui will continue with these prices, as there is so many more factors that make up both supply and demand. however, the sydney economy will keep the entire greater sydney going/afloat as long as its economy is strong ( even if rates rise, relative to the other cities, if its economy is strong it will hold water).
If its not, then then you will see carnage. If mel/bris etc are relatively strong and sydney is not, watch sydney to be pummeled whilst the others do well- there will be a strong migration of money.
If all cities incl sydney do bad economically, we are all f@#$ed
Lots of ifs here...im off to the casino to play some roulette and blackjack

 

Mount Druitt (the suburb) has a 150-200k price difference with the other suburbs mentioned in this post

Current house median
MOUNT DRUITT $650K

WHALAN $480K
LETHBRIDGE PARK $450K
EMERTON $470K
TREGEAR $442K
DHARUCK $498K

 

Just ran some numbers...humm. interesting figures

The above table tells me:

• In Oct/2014 to Feb/2015 ( which most people considered as peak), there were only 5% house sold for over 500k, 42% sold for 400-500k and 54% sold under 400k
• In Feb/2016 to Aug/2016, there are 20% house sold for over 500k, 70% sold 400-500k and only 10% sold for under 400k

So in summary, there are fewer houses sold under 400k now, compared to when this post was started or when it "peaked" in 2014.

 

Which emphasises the point us interstate posters are saying- Property in Mount Druitt is very expensive compared to comparable lower socioeconomic suburbs interstate. I said Elizabeth costs 200k but you can pick up freestanding 3 bedroom houses on 600sqm blocks in surrounding Elizabeth suburbs, such as Elizabeth North and Elizabeth Downs for 160k- still makes surrounding Mount Druitt suburbs 300k more expensive, which is just under the average mortgage size.

 

Either way Sash was wrong with his prediction.

 

It's about 470k if you average out the house median of the 5 SES - 2770 suburbs, which is about 3 x Elizabeth Downs.
Is ED the cheapest SES suburbs in Adelaide?

 

Davoren park (used to be called Elizabeth West) is the cheapest but it's around the same price as Elizabeth Downs.

 

3 Mercator Crescent Willmot NSW 2770 - Residential Land for Sale #201572102 - realestate.com.au

Burnt out house in Willmot for 419k. Makes me want to sell my non burnt out stock!

 

Is Willmot just about the cheapest suburb?

 

Yes, Willmot is worse of the lot in terms of the feel.

 

Would think that " Honour " would be a toss up between Willnot , Bidwill and Lethbridge Park .

They all like to look down at the others ....

Cliff

 

If you spend too much time out there , they all just blur into one . I've spent a fair bit of time in Wilmott and didn't think it was any worse than Letho ( and I spent a lot more time there ) , and people in Letho definitely looked down on Bidwill .

All of the suburbs in that main 2770 hub , have streets that you drive into and think .... oooo

Cliff

 

I've been to Willmot only a couple of times and it scared the crap out of me!

stray dogs......and for the lack of a better word stray kids!

 

Holy moly. I'm sure Nathan Birch would have bought homes like that for 150k or so not that long ago....

 

This post is from Oct 2015?

 

Quoting original post for context - posted 17th October 2015. Not that I agree either way, but it appears context has been lost.

 

I had a couple of patients who needed home visits . Wilmott was the home of the " Home made missile sage "

It's the stray adults you really have to worry about ..... but the kids can be scary

Patient was parking out side my surgery and there was a " person " standing in the only empty parking spot . They beeped their horn to get them to move which they did , but the person didn't like being beeped , so as my patient was getting out of their car , the " person " slammed the car door on them ....

Driving to work one morning and there was a cardboard box in the middle of the road in a place there were double lines . I decided to ignore them and crossed them to avoid hitting the box . As I did a small child lifted the box they were hiding under and a group of kids jumped out from hiding places pointing and laughing at me ....

Cliff

 

Omg..... Scary. Where were their parents??
And the bus... omg again. It could have killed a lot of innocent people......

 

Filming from behind the trees.

 

At the workers club