The northern beaches has been going gangbusters IMO. Not so now, as posted before, I know of someone who built a very nice place for about 1.1 mil on a 1 mil block, who expected to sell for 2.6 ( brand new home) but wants out now, costing about 3k per week in interest only to keep the thing, wants 1.8mil no takers yet. Some call that overcapitalizing. I call it getting caught at the end of the longest and largest property boom in our history. Had he had it ready for sale in early 08, probably would have got the 2.6mil.
