"House prices could fall by more than 40 per cent" - Are you kidding?????

The core of my approach hasn't changed since I started investing. It works for me.
1. Assess if financially I can safely take on more assets/deals, If 'yes', THEN
2. Identify value in a market, (many people have trouble here). THEN
3. Identify which stock type in that market has the greatest demand THEN
4. Look to only those assets which have room for 'add value' potential THEN
5. Use aggressive buying strategies to buy well relative to value .
6. Ignore all the noise.

 

Sound advice

Aggressive strategies may be different due to low stock and competition

Paying cash helps

 

Definitely helps. My last place I bought earlier this year was with cash unconditional with a 24h expiry clause. No BnP. I took the risk. It has paid off in spades.

 

@Sackie advice on tried and tested strategies are great - they generally hold up in any market long term.

That playbook is goldmine, if I were starting out I’d print that and pin it on my wall. Its repeatable too.

Personally we adjust a little, largely relating to experiences/skills we have.

We target land where we think there'll be big uplifts in productivity/utilisation in (rezonings mainly). Given these deals are rare and have a lot more perceived returns in them than the market prices in, we generally have not been too fussed by the price- happy to pay market. @Car tart does similar with Greenfield areas (typically requires deeper pockets to play given land sizes are bigger).

My general view is, Sydney (and Australia too) is a city going through massive change in my lifetime and will offer a lot of opportunities like this.