37% of Sydney property owners want prices to FALL!

Discussion in 'Property Market Economics' started by Xavier, 29th Nov, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Xavier

    Xavier Well-Known Member

    Joined:
    2nd Nov, 2017
    Posts:
    255
    Location:
    Sydney
  2. Xavier

    Xavier Well-Known Member

    Joined:
    2nd Nov, 2017
    Posts:
    255
    Location:
    Sydney
    Very interesting in terms of sentiment... when will this change? After prices drop 20, 30%?

    What is reasonable here....Any thoughts?
     
  3. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    9,189
    Location:
    Adelaide and Gold Coast
    Is it a coincidence that percentage is similar to the rental population percentage?
     
    Rugrat, Lions4Eva, skater and 6 others like this.
  4. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,035
    Location:
    Vaucluse, Sydney.
    Even if housing drops 25% across the nation ( which is extremely unlikely), the same factors why those ppl who didn't buy pre boom will still be there, probably even harder now to purchase because prices won't fall back to pre boom times. So? what they gonna do? They aint gonna buy. And if they are waiting for prices to drop 40-60% in desirable locations...ummm yeah ok. Good luck with that.

    The boat for many desirable locations is long gone .
     
    hanskyut, iloveqld and TAJ like this.
  5. chylld

    chylld Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    1,701
    Location:
    Sydney
    I read the subject line as "Almost two-thirds of Sydney property owners want prices to RISE!"
     
    Rugrat, Darren A, skater and 8 others like this.
  6. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,786
    Location:
    My World
  7. Depreciator

    Depreciator Well-Known Member

    Joined:
    15th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    People who say that sort of thing just say it in response to a survey because they think it makes them sound magnanimous. Nobody wants a property they own to drop in value, but sensible people accept that it will happen sometimes as part of a cycle.
     
  8. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,035
    Location:
    Vaucluse, Sydney.
    People have always been complaining about the price of real estate especially in most desirable locations..always. It means history shows that those locations never dropped back to a price point where the masses were then buying. Its not hard to figure out what will happen this cycle round.
     
  9. Kai41314

    Kai41314 Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    134
    Location:
    Melbourne
    Actually the article mentioned "the overall result, however, was split, with 38 per cent of people keen to see prices keep rising."
     
  10. HGM

    HGM Well-Known Member

    Joined:
    4th Jul, 2017
    Posts:
    150
    Location:
    Illawarra, NSW
    What a pointless survey.
     
    Tenex and Kai41314 like this.
  11. Kai41314

    Kai41314 Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    134
    Location:
    Melbourne
    Can't agree more :)
     
  12. Xavier

    Xavier Well-Known Member

    Joined:
    2nd Nov, 2017
    Posts:
    255
    Location:
    Sydney
    nope included property owners and investors
     
  13. Xavier

    Xavier Well-Known Member

    Joined:
    2nd Nov, 2017
    Posts:
    255
    Location:
    Sydney
    Ever increasing prices and the social consequences of this are not surprisingly unacceptable to serious property investors... blasphemy right!!!

    However when you have numerous commentators, RBA board members and now even property websites wishing prices were lower... it will affect demand and is a valid reason for the price declines observable in Sydney recently.

    NZ, Canada have already seen political backlash due to property price levels... We will see what happens next election in Australia but political risk has definitely increased
     
  14. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,130
    Location:
    03 9877 3000
    Apparently almost 40% of Australian adults want marriage to remain between a man and a woman. Based on what occurred in the Senate today, I think they're going to be disappointed.
     
    Brickbybrick and Blacky like this.
  15. Depreciator

    Depreciator Well-Known Member

    Joined:
    15th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    Gee, you get carried away Xavier. Of course commentators and the RBA and politicians want prices to be lower. And of course the levers they can pull will put the brakes on prices as they have done. All I said was that people who own property don't want that to happen. They might say they do if asked in a survey, but deep down I don't reckon they do. Sensible people accept that it is inevitable, but they don't particularly like it. Anyway, carry on.
     
  16. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,606
    Location:
    Sydney
    Now that makes perfect sense...sensible people also know without these corrections....the market could get to a point a USA like crash could happen.

    People need to look at these pressure valve mechanisms built into the Australian markets are a good thing as it maintains long term stability of the market.
     
  17. Illusivedreams

    Illusivedreams Well-Known Member

    Joined:
    3rd Oct, 2017
    Posts:
    2,454
    Location:
    Sydney
    @Xavier Why did you change Name of article to Sydney home owners.

    A quarter of Australian home owners are now “happy to see house prices fall”,
     
    pwt likes this.
  18. pwt

    pwt Well-Known Member

    Joined:
    30th Nov, 2016
    Posts:
    316
    Location:
    Sydney
    What a pointless thread. Just add it to the other 50 threads talking about Sydney gloom. Same few posters and same theories repeated needlessly.
     
    eletronic_exp0430 and Sackie like this.
  19. Kate Hill

    Kate Hill Active Member

    Joined:
    13th Nov, 2017
    Posts:
    33
    Location:
    Sydney
    My guess is that some of the surveyed homeowners who gave the 'happy to see prices fall' answer were worried about how their kids were going to afford property when they grow up.

    I can't imagine being happy to see my properties fall in value, though it probably will happen at some point. Then they'll go up again.

    And it's best not to pay too much attention on any UBS economist commentary about Australian real estate. You'll get the same extreme boom/bust rhetoric every time.
     
    spoon likes this.
  20. jprops

    jprops Well-Known Member

    Joined:
    24th Sep, 2015
    Posts:
    885
    Location:
    Sydney
    Not sure this is entirely true. For instance, my grandmother couldn't care less how much her PPOR is worth, and is concerned for her grandchildren who can't afford one.
     
    Xavier likes this.

PFI can assist you with your investment strategies for your SMSF, Life Cover for your members and assistance with compliance. We provide the research to ensure your investment selections achieve the goals. This is the value of advice