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I have noticed up north prices for "life style" properties are going crazy as well.
A small acerage that you could not farm but have a horse etc seems to be very expensive.
I think folk sell up in a major city get a huge price and think the country stuff is cheap. The properties sell quick supply falls prices move up.
A neighbour of the mate from Ryde sold at 1.8 mil He may well move out to the country and see a 100 acres with a house for $400,000 and be very happy he still has a million in the bank. If he had to pay another $100,000 he would not object and I suspect that is the way it goes.
I am near Epping and the talk is 25 storey blocks are going ahead causing prices to go thru the roof. I have heard of main road dumps going for 4 mil cause of high rise.
I once thought it was a bubble but I now think that we aint seen nothing yet.
And a lot of the market comes from or via Hong Kong where a shoe box costs a fortune.
For those folk Australia must seem very cheap.
Alex
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