NSW Bubble or Real?

Hey Guys,

Glad I’ve joined this forum. Seems like everyone here is friendly and many know what their talking about!

A bit about myself — I’ve been in property all my life ever since I was a little boy going over the newspaper Realestate sections!

I’ve since graduated with a law degree and been working as a property solicitor advising clients about developments, issues with purchases/sales and general conveyancing. Happy to help anyone If required (not legal advice ).

Since the intro stage is gone (awkward), I want to ask my fellow Sydneysiders a question.

is the recent property boom a bubble? We saw it happen from 2016 to late 2017 when the market just went crazy. Is it the same now? Property prices are going up $850 a day and there’s literally nothing to substantiate it with aside from low interest rates.

will be good to hear everyone’s thoughts and I appreciate it in advance..:

 

@Propertyisthebest - welcome to the jungle.

 

A few thoughts.
When did you last think sydney property was cheap or expensive?

sydney fell in 17/18, so was it a bubble before then? Since its 30, 40% higher now, what does that mean?

if people tell you its a bubble, what will you do? Wait until prices crash to buy? When will you buy? If it goes up further, when will you buy, or keep waiting for the bubble to burst? People who have waited for the last couple of years…..

if it falls again in the future (and it probably will), what do you think prices will be like in the long term? If higher than now, what does the term bubble mean?

 

The only bubbles are the ones in my wineglass.

Our property markets as a whole will be fine. No 50%-60% nationwide disaster coming. I've been hearing the calamitous crash is coming for 20 years. And I'll likely hear it for another 20. It's total nonsense.

And in that time, the savvy (and many average folks) have made fortunes while the rest cry foul and fantasise of a reset. Which ain't comin.