70's / 80's orange brick, small block, so 8 - 12 units, repairs won't be extreme if required ( baring concrete cancer which should be pretty visible ) and the body corporate will be small and easier to deal with.
If they're tight with each other and retaining the other units you'll have no say regards the body corporate, if they are divesting to a bunch of randoms no problem.
Why does it matter if they’ve rebounded? I assume he’s looking to live in it. So he’ll want a place he actually wants to live in. Take the minor pre-bottoming hit to secure that place, rather than gamble on getting it slightly cheaper at the risk of then having to buy a less desirable place. Live in it for a number of years and that overpayment on way in isn’t as noticeable. Although I’d only be doing that nearer to Sydney or high level coastal suburbs. Anywhere else, particularly Western Sydney, I’d be looking for significant discounts stillI'd advise against it, hindy.
Don't believe the hype - Sydney house prices have not rebounded, they're still going down. This is especially true for units.
All the gains are in the upper quartile - Vaucluse, Rose Bay etc., making the average look upwards. Listings in the bottom three quartiles are down, and auction clearance rates don't indicate activity there because most auctions are for high priced dwellings.
Don't look at ABS stats. They come from Core Logic, who lost the underlying data sets to REA earlier in the year. f**king everything comes from Core Logic and they're now shit when it comes to real estate data. Check REA data and maybe wait until early next year to see if the high-end increase starts trickling down to medium prices housing.