18 months ago we paid $50 k above vendor asking price for my daughters house in Ryde Sydney. It was in a time of mild market overheat and was necessary to fight off other purchasers. The land was 710 sq m and a 5 bedroom house.
Two weeks ago the adjacent house of 3 bedrooms and 630 sq m of land sold for $120 k more than it was worth on any logical / comparison basis. The adjacent houses were similar construction and aspect with the only point of difference being a fresher coat of external paint.
Conclusion :- People are stupid I need that Real Estate agent when I sell This is evidence of a bubble top. Sydney property has gone up 10% PA
