18 reasons why property prices will fall further

"Most Australians living in a mirage created by Peter Dutton's high immigration and high, unsustainable property prices.
NSW earns just $146 and Victoria only $75 average per week more than SA employees.
This piddling extra to Sydney and Melbourne doesn't compensate for 3 hours travel time, fuel and stress to crawl 30 kilometres to work per day.
Nor does it compensate for exorbitant weekly mortgage payments in Sydney ($699) and Melbourne ($611) compared to $454 pw in Adelaide.
South Australians enjoy more disposable income, much more quality time for themselves and their families and recently voted the 5th most liveable city in the world".

Sydney is without doubt the most overrated capital city in Australia. Australians think so as well, which is why net interstate migration for NSW is always negative and has been increasing.
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It will be for rents in a few years ....

 

The next 15 years will be the proof in the pudding. But as grotesque as Syd and Melb may be, it's still in massive demand overall. That's all that matters. What the masses generally want, not the few ( relatively speaking).

 

100% agree . After the massive growth and wealth we've accumulated...and yet ppl are shocked 10, 15% drops. More in otp...

That's very mild considering.

 

For sure, I agree. It shouldn’t be surprising, but many havnt experienced a correction this size. And i guess we don’t know where it stops yet.

I think the fixation on Syd and Melb, at least for me, is their size, both in terms of market share and their overshoot in value. It’s fair to say any big drops in such obese markets will have effects on the general economy.

 

Correct. Stay where you are.

 

Well, Sydney is the most beautiful big city in Australia and it is Australia's commercial hub. It has a great climate, and it will always attract lots of people, in particular from over seas. And this is Sydney's big advantage. Sydney has "wow".

On the downside, it is a chaotic and pooly planned city with under developed public transport. And for a city of its size, it's a bit boring in terms of night life, which is a bit sad.

Someone on this thread said that Sydney real estate is just a demographic "ponzi scheme", with people pouring in, papering over lots of underlying problems. This is a fair point.

From a real estate perspective, it is as boring as it gets and a very forgiving real estate market.

 

Agree mate .

I guess it also depends when ppl bought. what's a 80% gain on multiple properties for 1 person could be a loss of equity on a few props if bought at peak prices and poor locations for another. That's why 1 person's doom can be another person's delightful day.

 

if you have 5mil to spend on a nice place North, else it ****** West

 

People shocked cos they were told it’d be flat/1-2% down. lmao

 

I'd live in Melbourne, Perth and Brisbane. I would consider Darwin short term if a high paying role came along but I would never live in Tasmania or Sydney.

 

Anyone who believed it would correct 2% well.......

 

Well you can get a nice place in the East for waay less than 5mil.

 

Let’s put a warning out there for all the lurkers: this forum is heavily invested in real estate and price forecast predictions will be very optimistic on the whole

 

Have you been reading the thread at all? Paints a pretty bleak picture if you ask me

 

Winners and losers

For those who road the boom cycles in Oz happy days

It will be a shock for those who have purchased close to peak, as their capital will shrink

 

Hahahaha.

 

I have said from day 1, I believe alot of people get into trouble when investing simply because they fail to learn the basics and make silly, easily avoidable mistakes. Yes no one has a crystal ball and we all make boo boos from time to time. But they can be significantly reduced by simply learning the basics and some fundamental keys to follow to reduce significant risks .

Its really like most things in life ...youll get out of it as much as you put in.

 

I would clarify. This forum has become a pessimistic and dark place in respect to property . So much negativity.

So many who are not even in Sydney and Melbourne non stop pumping negativity.

It's depressing.

Very few are posting opportunities. If you do you hat slammed by a vocal minority who **** you down.

 

. The experienced investors will be able to differentiate the nonsense from substance but for newbies wanting to learn ..its a little bit like a minefield atm.

 

Yep.

IMO Syd and melb downturn will present great opportunities for folks positioned to buy with and bit of luck (experience I’m sure will increase luck) timing their entry point.

These two markets don’t pull back to this degree often. I reckon there’s a bit of downward momentum left, so no rush as yet.