THE HOUSING BOOM will have enormous consequences …
‘We are creating a separate class of Australians, and that is not a Society that I think most of us want to see’! View 7.30 Monday 10 February!
MAKE your objections to your local MPs … AND tell others!
Demand has surged for homes in suburbs under major flight paths.
IT has been reported by Aidan Devine that the demand has surged for homes in suburbs under major flight paths some selling for more than $2 Million …
IT beggars belief that First Home Buyers, even very many Boomers would be able, or willing to pay $2M for a house directly under major flight paths. Why would they? When home owners in these areas have complained for decades about the aircraft noise …
WHY would they buy there when homes in more desirable areas … a little further out are priced at $1.5 M or less?
WHO are these buyers?
PERHAPS this coincides with the increased inquiries from Hong Kong and China?
THE Morrison Government in October 2018 exempted (excluded) the Real Estate Gatekeepers from the Anti-money Laundering Laws … facilitating those in Hong Kong fleeing from the unrest and CCP control, and the continuum of Chinese seeking Permanent Residency in Australia …
Read more:
SOME 6 months ago we learnt of a young professional couple who purchased their first home, a semi, in Sydney’s Inner West for less than $1M …
EXTRACT …
‘Demand has surged for homes in suburbs under major flight paths.
Houses directly underneath noisy flight paths have been selling for millions as rampant property price rises squeeze buyers out of Sydney’s inner ring suburbs.
The desperate buyers helped drive up prices by up to 20 per cent over the past three months in the suburb of Marrickville, which has consistently had the most complaints to council about air traffic noise. *
A dozen homes in Marrickville sold for over $2 million in the second half of 2019, with the highest price coming in at just under $3 million.
The popular suburb sits directly underneath Sydney Airport’s busy flight path “B” departing from Runway 34L, the usual take off point for heavy duty long haul jets such as the Airbus 380 and Boeing 777.
Prices also look set to boom in nearby St Peters, Petersham, Stanmore and Summer Hill, which also sit under the same flight path.
A pocket of inner west suburbs near Tempe sit under one of Sydney’s busiest flight paths.
Demand for listings in Stanmore and Petersham jumped nearly 30 per cent over the past six months, while there was a 50 per cent increase in Summer Hill, realestate.com.au data showed.‘
Are they either foreign buyers or developers/investors land-banking?
‘It comes as finance data published earlier this week revealed most NSW house hunters have been trying to get into the market for months without success: two in five given pre-approval for a loan were yet to actually buy something.‘
Realestate.com.au chief economist Nerida Conisbee said that buyers had to compromise if they wanted an affordable home. 
This Marrickville HOUSE sold for nearly $3 million late last year.
This home on Edwin St in Tempe sold for $1.625 million.
FURTHER, Ms Conisbee said that …
-there are a lot of people cashed up; ready to buy but very little is listed
-pushing up prices and forcing buyers to consider suburbs with bigger drawbacks.
CAAN: Very little is listed locally, but what of sites like Juwai.com, and the REA Group and others listing overseas? And local developers making offers home owners cannot refuse?
“Some of these suburbs are very noisy, but they also offer houses on big blocks, which are the most popular housing type at the moment,” Ms Conisbee said.
PERHAPS ‘houses on big blocks are the most popular housing type at the moment’ because the large lots lend themselves to the Medium-Density Housing Code?
READ MORE:
Homes under major flight paths are selling for millions as buyers scramble to get backyards
Aidan Devine 08 FEB 2020
Demand has surged for homes in suburbs under major flight paths.
COMMUNITY ACTION ALLIANCE FOR NSW (CAAN): HOUSING INEQUALITY WITH AUSSIES LOCKED OUT! 