Hi all
My GF has been looking for a decent 2 bed/1 bath/1 car space unit around St George, Sutherland, Miranda, Caringbah, Lower North Shore to live in up to $400K. So far, after about 5 months of looking, we have found nothing suitable for her. Everytime we find something that matches her criteria, something is not right (no garage, on train line, on busy road, near housing commission, small etc etc).
Have all such units dried up in Sydney?Simon
You'd be hard pressed to find one on the Lower North Shore. Most of the older one bedders (in original condition) my way sell for well over that price. Two bedders if you are lucky might come near the high 4's/low 5's.
If you are lucky you will find a few around Meadowbank, Ryde, West Ryde in that price range (some good ones too, not on main roads).
Wait a few months until the current rush for under $500k units is over, once first home buyers have to start paying stamp duty. There will be plenty to choose from then.
Good point Matt but it will create a bit more pressure on the cheapies.
You might wanna look around Parra or westmead for 2 bedroom + car space under 400k + close to Train and good size etc..
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
I'm from Melbourne and I know that Sydney is about 15% more expensive across the board with property than Melbourne's prices.
However I can tell you two things. The days of 400k 2br units in Melbourne are just about over. Unless they are absolutely below standard .. they are now mid 400s to mid 500s depending on quality. Reno jobs tend to hover around the early 400s but they get snapped up at that level by eager beaver renovators ready to make that jump to turning them into quality.
Will the market fall back to a point once demand is saturated?
Unlikely. As I said .. there are lots of people who put their hand up for the reno jobs. That means that at the lower levels .. they are just picked up as the opportunities they are.
With a steady movement in inflationary pressures over the past year, its going to put pressure on both wages and rents. That in turn will re-establish pressure on market prices to move ever yet further upwards.
Cant contemplate a world where million dollar flats are the norm?
Then feel for my father.
His ideal for retirement when he started work was to retire on 10,000 pounds. Yes .. he wanted to retire and live it up on what is now $20,000 dollars. And then the world changed around him.
Your exchange of money will change. Your purchase price will change depending and linked to the availability of free credit for the purchase of property. And as long as the government allows you to keep a bit after capital gains .. that pricing scenario will continue to move forward.
In other words .. you can keep dreaming about 400k prices … or you can work out how to get the existing price. And from life experience the dreamers continue to dream.
5 months looking must mean something. This might be a hint.
I have a decent apartment, 2 bedroom 1 bathroom 1 garage, total 120 sqm
Currently leased for 450 PW
3 minutes to Rockdale station
will be for sale $425,000contact me 0433 733 800 if interested
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