NSW Good outlook for Sydney Property in 2018

What's the deal with developers offering gifts instead of just lowering the price? I heard they are not allowed to lower the asking price so they have to chuck in 40k+ worth of gifts instead. Anyone know what's going on here?

 

I have friends who work in IT (and have some understanding myself), they tell me selected IT jobs are in high demand but in some sectors jobs are flat or disappearing. In general there is less work than in the past.

Three of my friends who code have returned overseas because there is more work and better pay which wasn't the case a few years ago. Less basic coder work but if you're good there's still opportunity.

Traditional IT and server manager style jobs have disappeared as most companies transition to managed cloud and general outsourcing. Some room to make the jump but a lot less work in general now and lots' more competition for jobs.

So it seems that companies in general are looking to cut back IT staff costs. However if youre top of your game life is still good but Interesting times for the majority of the Aussie IT industry from what I can see but others may know more detail.

 

Go you beautiful thing! I know that block, its not exactly the jewel of Bondi! Supply and demand I guess- and from the amount of people cramming into Hall Street eateries last Saturday night, there is no shortage of people wanting to be in Bondi. Some of the newer hospo joints (QT, China Dinner, A Tavola, Milky lane etc) have taken the place to the next level.

Oh, and they ain't building any more beach.

It will interesting to see what plays out over next 18 - 24months. I bought my 2 bedder in 2001 for $400K. By the end of 2004 (and at the end of the last boom) an identical unit in the building sold for $460K. I then had a formal valuation in March 2010 which came in at $570K. So during the period between the two cycles it still grew. Not amazing YOY growth, but still growth, and certainly no 20% end of cycle decline. Things are slightly different this time around, so lets wait and see.

Gotta fly, off to get some smashed avo

 

Agree, definitely its about supply and demand and like you said - the beach ain't extending anywhere . Have you had a more recent valuation? Should be over 1mil. Hall Street is absolutely buzzing with eateries, ice cream parlours and trendy yoga training joints next to hip cafes where they can grab their $5.50 lattes and smashed avos. Business is fu$$en booming here.

Affordability doesn't equal demand . What does is the desire to own something and the ability to pay for it. This is one market with enough people who desire to get into and have the capacity to pay. Lets see how long until prices in this area stabilise . Maybe another year of growth would be nice

Smashed avo time.

 

I haven’t had a recent val mate, but I reckon it would be worth about $1.05m.

 

Depending on the location , you could probably do a 30k reno and get a sale price closer to 1.2m

Last year I helped 4 friends with units in the area spend between 30-50k on their units and they got a nice premium. 2 of them were renoing same time so we made great deals with tradies and suppliers for discounts.

Side note: I looooooove shopping for tiles and tapware . I'm like a nerd in a comic book store

 

There is no point us discussing things really. You seem to be ignoring many things, and that is ok, but your not even close to using rational reason to change what I see. Saying a place is nice, good, fantastic, in demand, etc, does not equal an automatic buy too me.

I have said many times I love Sydney, but now is a poor time to invest.

I have seen many cycles of growth and dead times, I have experienced both. I am not sure what your experience has been, many people simply ignored what was going on prior, but the patterns can be seen.

But the one and over riding aspect you and others leave out, is how you can show that investing in Sydney now, when borrowing to buy, can work numbers wise. If not for that, I am all in.

 

No point talking to fools mate....time will sort 'em out....they have been warned...even Melbourne is now heading the way of Sydney.

I have decided to sell one of my blocks when it titles...I will not develop it...it is in Western Melbourne.

Having said that Geelong is going off like a cracker..

 

wrong. El nino doesn't have a pattern, its cycles are irregular, predictable only a few month prior.

 

ok

 

At the end of the day its about presenting your opinion. Your opinion, as I have pointed out, is based on poverty mentality.

The very patterns you talk about have been there for years. In fact the signs of a potential down turn were stronger from 2013 to 2015 than they are now to the degree that some realestate agents that I met back then were saying there is a potential downturn.

No one is saying close your eyes and buy the next property in Sydney. What is being said, at least by myself is that in terms of property investment, Sydney and Melbourne are about the only two safe places to invest.

 

By the way, Sydneys auction results, 73% and 67%

Auction Results Sydney, NSW - Latest Weekend Results

Sydney Real Estate Auction Results

 

The first one is from REA and is for all of NSW. Not often you see that clearance rate higher than Domains result which is only for Sydney.

67% is nothing to write home about.

 

You are so negative you dont even realize its just an update.

What is it exactly you are trying to say that I shouldnt post the Sydney clearance rate in a topic dedicated to Sydney?

 

I was simply correcting you. Can't I correct someone who's wrong on the internet? What else is the internet for?

 

67% is a great result.

Look at the rest of results Melbourne was best 2% higher

NSW 73% so a great weekend.

Don't worry about haters

 

Porn.

 

In any pocket in a large city like Sydney there are going to be contradicting market indicators, depending how we read them will form our opinion.

@Leo2413 I'll hit you up to talk about tiles and taps over some smashed avo on organic artisan sourdough (it's actually very good at double bay)

 

Let's do Breakfast at "Indigo "

 

It was 80% same weekend last year...