Tuesday, April 19, 2005
Real estate hunt
When I got back to Sydney, the first thing we did was a spot of house hunting.
Not for a new place to live, but for an investment property.
We parked the car and went around on foot and doing the real estate rounds in Mosman.
On the hunt for capital gains!
I feel a Duran Duran quote coming on.
"Burning the ground, I break from the crowd
I'm on the hunt, I'm after you
I smell like I sound, I'm lost and I'm found
And I'm hungry like the wolf"
Just like typical Sydneysiders, we're hydrophilic and we NEED to be near water and have views of water. The properties we're looking at are a few streets away from boutique giftshops, lifestyle shops and patisseries.
And I'm so happy to say there's very good coffee to be found here. None of that Starbucks cat's piss. But at AUD3.20 per pop (inclusive of the ever present Aussie GST), it better be good.
A decent Sydney property with at least 3 bedrooms in a suburb that's nowhere near water, hills, cafes/shopping or train line will still cost you around AUD 650-800K. It's craziness.
In Mosman, you're looking at a teeth-gnashing AUD 650K-800K for a ONE bedroom apartment. And for houses..... it's around 3 million for an old one storey brick home.
*Sigh. Welcome back to Sydney, Implosion*