starlight7 Posted August 23, 2015 Share Posted August 23, 2015 http://www.news.com.au/national/glen-waverley-auction-smashes-records-with-6-million-sale/story-e6frfkp9-1227494512634 Daughter has a house there too- wonder what its worth now? Link to comment Share on other sites More sharing options...
Parley Posted August 23, 2015 Share Posted August 23, 2015 Madness. Link to comment Share on other sites More sharing options...
Guest Anya Posted August 23, 2015 Share Posted August 23, 2015 It's a development block/ Even so, approved lans are only for a 4 storeys development, so not sure how this developer hopes to make money unless he prices the apartments to cost as much as townhouses? Also, who is going to buy such expensive apartments in Glen Waverley? GWSC is going to suffer as it gets overstretched - what with its popularity, more apartment blocks coming up and a huge influx of people choosing to live there mainly to get their children admitted into this reputed public school. Link to comment Share on other sites More sharing options...
bristolman Posted August 23, 2015 Share Posted August 23, 2015 That is absolutely insane. 1500 Sq block isn't even huge. I suppose they will cram a dozen houses on it. Link to comment Share on other sites More sharing options...
starlight7 Posted August 23, 2015 Author Share Posted August 23, 2015 GWSC is a good school but not THAT good. Two of my grandchildren went there . There is a culture of studying hard because of the vast number of Chinese students there. Not a particularly nice campus though- Wesley is a lot better but you have to pay. Link to comment Share on other sites More sharing options...
Parley Posted August 23, 2015 Share Posted August 23, 2015 Yes probably about $25000 per year now for Wesley. Mount Waverley Secondary College probably even had a better name than Glen Waverley so a great area. Also The Glen is being redeveloped. Link to comment Share on other sites More sharing options...
starlight7 Posted August 23, 2015 Author Share Posted August 23, 2015 Nice car, parley! Yarra Valley Grammar is the same- not even a 'top' school. "Sigh" Guess some must pay it. No wonder they get all this fancy equipment and halls. One of ours went to YV around 1990 and it was $6,000 then, bad enough Link to comment Share on other sites More sharing options...
KiwiKaye Posted August 23, 2015 Share Posted August 23, 2015 We're currently renting in Mt Waverley, and have just bought a house in Frankston. We'll be moving at the end of this year. No way we can afford to buy around here. The properties are silly money and I find it hard to believe the prices are sustainable. The schools are really good, but not worth the house prices. Link to comment Share on other sites More sharing options...
starlight7 Posted August 24, 2015 Author Share Posted August 24, 2015 No- they are nuts! When we first came here we lived in GW for a couple of months and I didn't like it then- thought it was 'soulless'. How times change. That was way back in 1975 , we lived off High St Road and could have bought there then quite cheaply. Link to comment Share on other sites More sharing options...
Parley Posted August 24, 2015 Share Posted August 24, 2015 The other strange thing about that house was it sold for something like $4.5M 2 months previously and has now sold again for $6M. Gone up $1.5M in 2 months. It does seem a bit fishy in a way. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 24, 2015 Share Posted August 24, 2015 It's a development block/ Even so, approved lans are only for a 4 storeys development, so not sure how this developer hopes to make money unless he prices the apartments to cost as much as townhouses? Also, who is going to buy such expensive apartments in Glen Waverley? GWSC is going to suffer as it gets overstretched - what with its popularity, more apartment blocks coming up and a huge influx of people choosing to live there mainly to get their children admitted into this reputed public school. Who in Glen Waverley ? Answer must surely be seeking Chinese money. Be that migrant or overseas money. It is by all accounts becoming something of an exclusive suburb for this particular group. With dealing behind the scenes who knows what it finally goes for? All further signs, if any were needed into the insane state of the real estate industry in Sydney and in the country in general and the dangers around that, are clearly in evidence. Link to comment Share on other sites More sharing options...
flag of convenience Posted August 24, 2015 Share Posted August 24, 2015 We're currently renting in Mt Waverley, and have just bought a house in Frankston. We'll be moving at the end of this year. No way we can afford to buy around here. The properties are silly money and I find it hard to believe the prices are sustainable. The schools are really good, but not worth the house prices. Worth has little to do with silly money chasing other silly money, which in another way devalues everything. Link to comment Share on other sites More sharing options...
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