NSW What's my final sale price Eastwood NSW?

Prices jn Eastwood and carlingford seem to have cooled a bit.

 

It's relentless. The new apartment building next to Eastwood is asking fore more than 700k for 1 bedder. With Land... 950k is not out of the question.

 

@Gockie your post highlights some of the issues with the market to me.

-this is not an easy walk to anything.
-this is a popular suburb due to schools and Chinese community but that's about it, not "special" in terms of being like a bondi, mosman, Paddington, surry hills, wherever.
- it's a 280sqm block in an area supposedly with family buyers with school going kids
- despite all the above, someone "on a smaller budget" would have to spend over $1.5m for the privilege.

I'd be bloody livid if i was a sydney resident, i doubt I could justify buying over renting.

forget cities like perth where for the same money you'd get a nice property on double the land in a proper blue chip suburb, even in melbourne for that money you'd be getting a hell of a lot more.

the lunatics have well and truly left the asylum.

kudos to those of you who have capitalised on the opportunities over the last few years, some of the gains havs been extraordinary, so too what is considered normal now.
unfortunately I think prices have now gone to levels where it's more of a negative than a positive for the city as a whole.

 

Fair enough Sanj. But the market is the market and if somebody wants it, they have to pay for it.
I think the market will have to cool at some point in time.
And this one is too far from anything for my personal liking. But we'll see if there's still the demand for it.
For this area of Sydney, I'd hate to say it but the 780k asking price is extremely reasonable. Its really a good 2br unit price.

 

@sanj I live in the next suburb, in general

• Car will get you to several shopping malls within 10-15mins (given you are not travelling in peak hour)
• I live in apartment 5 mins walk to Mcq university and station - it is convenient but I can see how some people won't like living next to busy road and would like to be in a place that feels more like a neighborhood
• There are plenty of non-special suburbs that do really well depending on available facilities - good school, university, business centre (North Ryde has the big offices for big companies, hence very convenient if you work around the area and not CBD)

Price is indeed crazy which is why we are moving to Melbourne next year

@Gockie $780K might just get you a tiny 2 bed in the newer apartment at Macquarie park

 

I suspect those who bought into Eastwood in the last 2 years knew they overpaid. My friends in Eastwood couldn't believe the market was so hot. Good thing they got in 15 years ago with some assistance.

@Gockie there's one on brush road that is for sale. I looked at it before but it has to be knocked down. Nice view though but not much backyard as it is steeply sloped.

 

Hmm tough one as it's more comparable to a villa or townhouse given land size. I'm going for $988K

For the northern beaches fans check out my thread on something a little more luxurious
The Bidding Game Northern Beaches Sydney!

 

@EN710 Macquarie Park is crazy eh. Already building on former raffles site. There are still more to come along Epping Road towards chatswood near Harvey Norman. So are you really moving to Melbourne due to house prices or because of jobs? That's pretty drastic.

 

unfortunately not the first person I've heard planning this.

 

My trip to Melbourne last week also caused me to rethink real estate value...and the traffic is not super crazy.

 

you'll find more and more people doing that.

for some people sydney is the only option, be it for family or job reasons or simply because they love it and the lifestyle.

for some they'll come to the conclusion that they arent actually enjoyin the city and lifestyle they love due to having to ether work insane hours to pay the high mortgages or having to live in whoop whoop in a pretty average home to climb their way up the ladder like many suggest.

if they enjoy living in melbourne or perth or Brisbane or wherever and can get jobs there it will be worth seriously considering.

a job paying similar amounts or even a touch less will mean having much more in the kitty to invest elsewhere or to live in a nicer area or both. or, a couple might find one of them can go part time and spend more time with the kids etc which is arguably invaluable.

Sydney is a great city but not so incredible that everyone must be willing to spend sometimes double on housing what they would do in another great/good city.

also, think of how much wasted potential there is out there because people are having to part with so much time abd money for their mortgages. someone is far more likely to shelve a business idea or an invention or pursue their dreams in say the arts or whatever when they're paying off a big mortgage and there isn't much room for error.

couples are far more likely to have to both work when maybe 1 of them would like the option to stay at home with the kids or do part time work instead.

someone is far more likely to stick with an existing, secure job they're coasting in and not passionate about instead of pursing a career change. wasted potential left, right and centre, at a time where we all lament the fact that we need to be a smarter nation and come up with ways to replace the menial manufacturing etc jobs that no longer are sustainable in this county.

in isolation it isnt a big deal, if it starts happening more and more it's bad for sydney and arguably the whole of Australia.

 

Technically because we are a bit bored of Sydney CBD, and per hubby word - Australia is the rare place where you can actually get a good sized house, so we should try at least once rather than stuck in a apartment box all the time. We can't buy in Sydney unfortunately, a little bit too high of price and a bit too far for our liking.

I seriously want to move away from Macquarie park before all apartments are done - traffic will be crazier then!

We were thinking of Sunshine Coast initially but then it is too quiet. We visited Melbourne and quite like it. 25mins drive to city on weekend is great - we like being close to civilization but not too close. Torquay beach will be about 1-1.5 hour away, which is comparable to driving to my current place to any beach + finding parking
Job in my industry and hubby - Melbourne market is 2nd to Sydney, so it is the most plausible city

 

if the beach is a significant factor along with decent housr prices maybe consider perth too, there are a lot of affordable properties a short drive to the beach and perth overa.ll has improved dramatically and is a much more all rounded place to live in than it used to be

 

Some people really love Sydney that they're willing to pay the price - I know a few. Also know quite a few who prefer apartment over house. I don't really have family here (nor anywhere in Australia) so moving would not be as hard. I will miss the weather for sure though!

@sanj I have the impression that Perth is about as quiet as Sunshine lol... I never visited so not sure, and job won't be as easy to find compared to Melbourne

 

haha Definitely not as quiet as that, maybe in the past.

 

Good luck @EN710! If you can move, why not.
Quality of life, cheaper real estate... I think its good sound logic you've applied.

 

@Sea Eagles88, wanna guess on this one?

 

I am hoping to buy this at auction today for $830-850K. Also got my eye on another property on the next street - 15 Lexington Avenue Eastwood NSW 2122 - House for Sale #122685038 - realestate.com.au
Will rent until we are ready to knock down and build in a few years time. I much prefer the second property due to more bedrooms and larger land but I have a feeling the price will be pushed up by people buying into the area for a PPOR and local schools.

 

All the best @Blue Cat please post the final number after auction. I nominated $910k previously. @Gockie?

 

@Blue Cat, can you tell us what happens at the auction please? I'll be at a volleyball competition so I can't make it.