Wouldn't rush out to buy or sell. So many developments around 25kms around Sydney are sold before they begin building. I have a few Accounting customers (around Maroubra to Bondi - 14km to City) building currently and for example they have sold all their units to mainly overseas interests.
Across the road from my office (Zetland - inner City 4km) I am seeing people pay $619-679k for 1 bedroom units with a view.
Some figures from Sydney yesterday.
It was a Record Median price for a Saturday (the 4th time in Winter this year) and the highest clearance rate since last September (Spring). By the way it was pouring with rain and very uninviting to go out yesterday.
Saturday 23rd August 2014
Reported Auctions: 319
Sold: 281
Withdrawn: 18
Cleared: 83 %
Median: $965,000
Ab.
property crash coming, page-36
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