theasxgorilla
Problem solved... next bubble.
- Joined
- 7 December 2006
- Posts
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Very interesting motion.
Where is Glebe btw? I don't know Sydney that well...what is the status/demographic of the suburb?
This was marketed for around 550k - 600k, but it sold for 124k over the reserve.
This house still needed about 100k to put this place on the market for rent...This is a good example of how I think the innerwest is still doing well and auctions we have been attending are outperforming what the general market.
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=29862901&s=nsw&tm=1222913114
Very interesting motion.
Where is Glebe btw? I don't know Sydney that well...what is the status/demographic of the suburb?
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This was marketed for around 550k - 600k, but it sold for 124k over the reserve.
These areas will always be the absolute last areas to be really affected by the downturn. Poorer homes (i.e Western Sydney) will be affected first. After a number of foreclosures due to the loans at the start of the boom, and if the housing sector causes banks pain only them IMO will we see any real pain near the CBD, and even then not by much unless we have debt deflation occuring (and while it may be a chance I don't see it nearly as likely in Australia as the US - at this stage the mining boom still has some legs). With petrol prices high, and travel times minimised these areas will always be at a premium.
lol, pepper is pissed he missed out
Looks nice, plenty of character, good location, worst house in a good street, yada. Looks only needs a repaint and some basic maintenance (from the photos anyhow).
Property prices fell 5.7% in Perth in last month alone. Resources boom, where art thou?
http://www.watoday.com.au/wa-news/p...silient-despite-price-fall-20080930-4ra8.html
A lot of stuff on the market that can't sell in Perth seemingly...It's interesting that the above article states "Perth was one of just two state capitals - along with Sydney - to record a fall in prices in August." So according to the article average house prices in Perth fell 6.53%.
UK house prices fall most on record
House prices are falling at the fastest annual rate on record, according to the latest survey from the Nationwide Building Society.
By Jamie Dunkley
Last Updated: 8:42AM BST 02 Oct 2008
The average UK home lost 1.7pc of its value in September, leaving prices 12.4pc lower than they were a year ago. The drop eclipses the worst annual fall during the house price crash of the early 1990s, when in the final three months of 1990 prices were 10.7pc lower. http://www.telegraph.co.uk/finance/...0824/UK-house-prices-fall-most-on-record.html
Latest figures out in the UK prove that house prices only ever go up</sarcasm>
hello,
http://www.theage.com.au/articles/2008/10/02/1222651222638.html
i hope she got an uzi, armoured humvee, sniper rifle, 9mm with lazer, a couple of pitt bull's in the yard because you need them in that wak country
kids rollin with 45's in their pockets
thankyou
robots
550 - 600 when one down the road just went for $670????
Even 670 is absurd ... christ you have a similar property to those in paddington with easily comparable amenity for 30% less??????!!!!! Christ my friend in glebe walks to the cbd every morning in around 12 mins!!!!!!!
In fact Id say 670 was a rare bargain ... in this sort of market they come up from time to time (not every time) and you need to be ready to buy when they do ... as i say Ill buy tomorrow id the bargain comes up on a place I like.
I had a friend with a semi type place behind the morgue with no parking that was worth not much less than 500k ten years ago!
IMO all this proves is that inner west is absurdly cheap for the convenience and you and your agent need to be more realistic with your valuations.
Very interesting motion.
Where is Glebe btw? I don't know Sydney that well...what is the status/demographic of the suburb?
I think you need to do your home work the same place in paddington is around 1.3 million... I know cause I have been to many auctions...
The house sold for $698k which was still a good price but with 150k to get it up to scratch you are well into a reno house which will give you a quicker return on your money.... which I sure you understand..
pepperoni I guess you do not know the inner west market as this was not a steal... as there are many places like this.. Just get into the market and I will see you at the auctions...
But back to the point to this chat, this was over 10%- 20% of what it was valued at ... and this is something you said would never happen...
Just one other thing .... if the place has historic charm potential (federation/victorian) add at least 10%. A property with a federation face in mosman will go MUCH higher than the same house with a 70s facade.
I saw a true derelict but large federation and a decent block go for $5m in the boom.
Also land size ... an extra 10% land can sometimes mean 10% extra price.
Im sure you know all this but thats a nice historic home with "good bones" layout and a huge rear yard!!!
But back to the point to this chat, this was over 10%- 20% of what it was valued at ... and this is something you said would never happen...
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