AMP sees 20pc fall in Sydney, Melbourne

If you are buying in Sydney or Melbourne, you might want to hold off while prices fall. Continue saving your deposit and come back in 2021.

 

I believe Now is not the time to buy in Oz markets

 

So when is.theright time? Your portfoluo is impressive but we are a small.fish. looking fir family hime under and around 1 mil in north rocks....

 

Australia is bigger than Sydney and Melbourne.

If you have cash flow and equity to service, now is the time to be looking into other markets ...

"Don't wait for opportunity, create it" !!!...

Cheers,

 

So primary residence???

 

Different rules apply

Find out how much stock coming to market
Network with agents, and many keep the buzzards honest

No rush...... credit squeeze will hurt many, sit back watch

You have time on your side, what is a bargain today may be different tomorrow.... paid too much

 

Yes, happy to make it invrstment for couple of months if that helps but idealy PPOR

 

Finding opportunities is more profitable than finding excuses

 

Thank you for the tip but RE agents thet all know market is tough but still they like to price the property 1.2m when it is 1mil and auction it. Nothing against it but sets you back as what is the point

 

I thought AMP was talking about its share price.

 

Me too

 

This is coming from Shane Oliver, who isn't exactly the sort of guy I'd pick as bearish or prone to exaggerating for attention.

 

Sentiments on PC is usually few months ahead of masses,
still lots of denials here,
Does it mean Syd/Melb have much further and deeper to go?

Now that traditional housing bulls(non-spruikers) are predicting 20% fall from peak, does it mean 25/30% fall from peak in syd/melb by 2021 a fair game?

 

You can never know. It's all guesswork from here on out.

 

It will only mean anything if you actually have a plan to take action. If the median drops 20% will you buy? How about 25%? Or 30%?

 

Well said good sir!!..

Cheers,

 

To your mind, the word 'but' makes everything prior obselete.

You're great, but...

Also, what does it matter what an agent prices things at. You do your numbers, and work out what the right price is for you.

By the time a property reaches RE.com or Domain.com, it's likely no good to you anyways.

Letter box home owners, call them direct, email quality agents with exactly what you want, tell then you'll pay X and have them do the door knocking for you. Offer an incentive.

Waiting for the right property at the right price to pop up on a Google search, it's great, but...

 

Not sure this article is saying 20% rather 10%... with 20% stated to be a crash (unlikely). That is of course across the board and some high end markets are there already...

In his market update on Thursday, Dr Oliver repeated earlier comments that he regarded a crash in the housing market - which he put at a decline of 20 per cent or more in prices nationally - was unlikely unless interest rates or unemployment shot unexpectedly, new housing construction remained at its current elevated levels (which he said was also unlikely as new dwelling approvals were falling) or immigration levels collapsed.

 

Personally I think if Sydney or Melbourne go down 20% that's probably going to stoke a panic, and prices will overcorrect.

Which of course leads to thoughts on where the next boom areas will be? My wishful thinking says Brisbane but I suspect Hobart's got a genuine undersupply and the potential to be a popular retirement hotspot.