Best to buy in Sydney at the end of the year after all the rate hikes ?

Discussion in 'Investment Strategy' started by HBK, 7th Jun, 2022.

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  1. HBK

    HBK Well-Known Member

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    Would it be best to buy in syd towards the end of the year after all the rate hikes ? To get the best price ?
     
  2. Sackie

    Sackie Well-Known Member

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    No guarantees. Going off a probability model in my head based off my own subjective metrics, I'd say in 6 to 12 months. That's what I'm doing.
     
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  3. HBK

    HBK Well-Known Member

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    Are you buying a investment? Where are you targeting
    Do you think we will be able to get a 3 bedder brick house decent land in 2770 for 500k ?
     
  4. Sackie

    Sackie Well-Known Member

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    My guess is little to no chance you buy a 3 bedder home in 2770 for 500k. @datto won't part with his stock at those prices.

    I'm targeting add value stock inner and middle ring Sydney.
     
    Last edited: 8th Jun, 2022
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  5. Scott No Mates

    Scott No Mates Well-Known Member

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    No but it may be possible to buy something in 5000 for $277000
     
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  6. datto

    datto Well-Known Member

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    No house for 500K in Mt Druitt at this stage. The laws of nature won't allow it.
     
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  7. Lacrim

    Lacrim Well-Known Member

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    I'd be starting to search NOW in the midst of peak uncertainty. The ones waiting for perfect conditions will miss out on the bargains.

    Make some silly offers. 9 times out of times out of 10 it'll be rejected, but you just need to snag one.
     
  8. Travelbug

    Travelbug Well-Known Member

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    Highly doubt it. Things would have to drop more than 20%.

    If you are in the area keep an eye out in the next few years. Places come up that need work, or are badly advertised. You can sometimes get a bargain. I know @skater got a few bargains even when the boom was in full swing.
     
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  9. HBK

    HBK Well-Known Member

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    Im starting to make silly offers now ill see if i get anything hahahaha
     
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  10. larrylarry

    larrylarry Well-Known Member

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    $500K for 2770. not going to happen I dont think.
     
  11. dabbler

    dabbler Well-Known Member

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  12. skater

    skater Well-Known Member

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    Too soon!
     
  13. jon88

    jon88 Well-Known Member

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    Its a big ship to turn around which is probably why the RBA is going so aggressive.

    From my discussions with agents I think the herd is just starting getting a sense of future storm clouds. The media is starting to crank so it will drip through quick to sentiment. You might get the more shrewd or twitchy vendors locking in profits even at a 20% discount most would be hugely up if originally purchased within the last 5-10 years.

    My guess is in the next 3 months you could get the better stock. Then maybe wait until after xmas. If the RBA keeps tightening then you'll see the real distress/fear start to hit.
     
  14. Lacrim

    Lacrim Well-Known Member

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    IF the market is still subdued by end of yr, mid Nov to Xmas would be the perfect time.
     
  15. jon88

    jon88 Well-Known Member

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    I think there is a real danger of recency bias, piling in too soon on the 20% discount.

    I admit I will be personally at that level but I'm very prepared for the falls to carry on for a good while yet.

    Perhaps some scenarios to the longer term downside are seeming that little bit more in the realm of possibility now.
     
  16. Harveys

    Harveys Well-Known Member

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    RE has 3 bed median @ 790k lol.
     
  17. TheBigDawg

    TheBigDawg Well-Known Member

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    This inflation is not going anywhere fast, and rate rises will go well into next year and beyond. I reckon mid next year is when distress will peak, thus the best opportunities for people.

    The RBA really does have itself in a pickle. They along with successive governments have allowed the housing market to become so inflated that they cannot deal with inflation quickly without absolutely destroying people who just pushed the AVG new Mortgage to 650K nationally and 800k in NSW. The level of mortgage debt in this country is absolutely absurd.