{"id":30300,"date":"2021-01-26T11:12:27","date_gmt":"2021-01-25T22:12:27","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=30300"},"modified":"2021-01-26T11:14:34","modified_gmt":"2021-01-25T22:14:34","slug":"sydney-market-fuelled-by-greed-and-arrogance-buy-in-melbourne-instead","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/sydney-market-fuelled-by-greed-and-arrogance-buy-in-melbourne-instead\/","title":{"rendered":"Sydney market fuelled by \u2018greed and arrogance\u2019, buy in Melbourne instead"},"content":{"rendered":"

PHOTO: A Sydney-based property Adviser is suggesting his clients look at Melbourne instead. Source: Supplied<\/span><\/strong><\/em><\/p>\n

A Sydney-based real estate adviser has slammed the Harbour City\u2019s \u201csubstandard developers\u201d for their \u201cgreed and arrogance\u201d and is suggesting his buyers look to Melbourne.<\/p>\n

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Wealthi property adviser Sam Assaad said the NSW capital had been spoiled by the nation\u2019s highest prices and large numbers of international buyers who didn\u2019t know to look for better quality homes.<\/p>\n

\u201cIt\u2019s a market fuelled with greed and arrogance of big name developers, producing not even builder-range quality properties and selling it in the market knowing the housing demand in Sydney is still highly sought after,\u201d Mr Assaad said.<\/p>\n

By comparison, Melbourne\u2019s more affordable prices and larger variety of successful developers had kept new home quality high in suburban areas.<\/p>\n

\u201cThere\u2019s always ego with developers, and I\u2019m putting Melbourne on a bit of a pedestal, but Melbourne developers are willing to give a little bit more than they are in Sydney,\u201d Mr Assaad said.<\/p>\n

\u201cThey (Melbourne developers) need to maintain their reputation.\u201d<\/p>\n

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1\/63 Finlayson Street, Lane Cove,<\/a> in NSW sold for $1.3m late last year and gives an example of a higher quality build that\u2019s easier to find in Melbourne.\u00a0Source:Supplied<\/span><\/strong><\/em><\/p>\n<\/div>\n

As a result most Melbourne developments included timber floors, extra cabinetry and floor-to-ceiling tiles as standard these days, he said. In Sydney, the majority of projects would list these as upgrade options.<\/p>\n

Given these features tended to make homes lower maintenance and more attractive to tenants it made sense for investors to prioritise them, he added.<\/p>\n

\u201cIn terms of providing a quality, rentable standard home, it really makes a difference,\u201d Mr Assaad said.<\/p>\n

\u201cAnd a lot of our clients do agree that it makes sense to them.<\/p>\n

\u201cThough they might be more bummed out finding they can\u2019t afford something unless they go 40-50km out (here).\u201d<\/p>\n<\/div>\n

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