If you need to Sell in Sydney, best to do so SOON.

Big spike in Pre-Auction sales as sellers rush to get out.

More property selling before auction as market cools and buyers retreat

 

Typical "Herd heading for the EXIT" action starting...

 

So supply increasing?
Boom bust cycle, Melb next, how do I know look at cycle history ...after boom comes bust, we just dont know how low

 

Sydney will bust soon.
Melb is supposed ti be next thoigh i dont see much of a slow down.
I would be wrapped if the melb market fell considerably but not as far as a crash

 

Just gone through the process.

No point going to auction with little competition between buyers. You'll get a better price negotiating prior to auction than going to auction if there is 1-2 bidders, gets passed in, they will make a meal out of you.

The difference between an experienced agent and an inexperienced agent really comes into effect at this point in time.

 

Hmm there certainly has been a huge increase in pre-auction sales (why are these even counted as "clearing auction"?) and it will be interesting to see what develops. Sydney certainly seems to be stalling, and with that very big drop off in foreign buyers, I'd expect a pretty slow spring season.

 

Sorry.... but a house that sells prior to Auction is NOT an Auction result...simply a house sale..happens all the time...lots of this stuff happens in winter as well.... panic if you must sheeple.

 

Still... all the above (selling within around 30 days) is much better than having properties on the market 90 days or longer with only low ball offers. That easily happens in regional.

 

what a typical statement from RE agents to home owners, they r just repeating the cycles:
market is rising, best time to sell
market is flat, sell now before its too late
funny this morning i just have a RE agent cold calling me to check hows the house i brought last year, i guess they are having the slowest spring in 5 year,,,, for getting stock listed

 

I agree in that sydneys days are numbered ( although im predicting no bust- just a correction followed by long periods of flatness).
Melbourne still has a bit to run..but probably not too much
Watch brisbane to step up from here in..jobs are holding up well in brisbane - slight increase month to month but slow- at least they are on the right path. Will likely be seeing some opportunistic selling ( sydney) and buying ( brisbane) in the spring.

 

I totally agree,
im in two minds if whether buying now to catch the tail end of brisbane market is a good idea or not,
Ive also been considering the investing strategy of "not investing"

 

It seems very misleading to report these pre-auction sales as cleared auctions. I mean, "prior to auction" but when exactly? Weeks earlier? Days? On the day? Isn't that just a house selling?

I feel like it's being reported that way just to artificially inflate auction clearance rates.

 

Personally, I think Brisbane will take a hit if Sydney or Melbourne do take a steep dive, but has a good chance of being the site of the next big boom. Queensland is very popular, and Brisbane is a big city. It has missed a lot of the bubbliest growth (it hasn't flatlined but it certainly hasn't run away) and has never reached the truly ridiculous heights of Melbourne and Sydney, and if those cities do correct the lull will likely last at least a few solid years. I think Brisbane stands a good chance of being like San Fransisco and much of California after the US bubble.

Decent correction as the bubble burst, but since there wasn't far to fall, it missed the worst and has seen very rapid growth since. Investment money needs a destination, and there will always be investment demand. We've seen it grow in recent years, but before the bubble it was still a solid 30% of the market share. Those investors will probably look for cities with good growth prospects.

Apartments though, I doubt these will do well in the short term.

 

<--- Press panic button here.

 

Brisbane is not at the tail end- sydney would be but not brisbane.
Brisbane has moved, but not significantly so.
High supply in every asset type ( apartments, townhouses, H&L etc) have kept prices lower ( than they otherwise would have been) in most suburbs. Plenty of choice.
The rate of announcements of significant new construction has greatly slowed down in thr last few months, so id think we have seen the worst of the supply issues ( new announcements). Its left to absorb the supply - fortunately pop growth is decent and jobs growth is also decent ( not great but positive), and this will absorb the supply. If this continues for an extended period of time, prices will only go up.
The only way for brisbanae prices to go down from here is :
1. They keep building in record numbers - this wont happen due to the loast few years of supply announcements > demand and thus developers are feeling the pinch in pim[ping off some of these
2. Building costs decrease- wont happen - quite the opposite
3. Increase in rates- wont happen either- AUD is way too high; needs to be significantly lower to be more competitive
4. jobs in brisbane decrease ( most important reason)...wont happen either- the trend is the jobs increasing and new developments should sustain those increases - add to it.
5. If sydney/mel crash and burn- wont happen, they are too strong and diversified to totally crash and burn.
<hype>
In short- Brisbane...new world city...its time to show the world that its a major player in the APAC region has finally arrived
</hype>

 

I agree with you....people are getting out of Sydney in droves....the auction clearance rates are dropping...matter of time before the woe is me stories about people getting burned on OTP in Sydney. Some parts of Melbourne are in a similar category.

Outer Melbourne has another 12 months to run..as land is in short supply. Till prices push the 500-600k mark from the current 400-500k...it won't slow.

 

NEKMINIT… RBA cuts rates twice and music keeps playing.

 

I think at least part of Melbourne's momentum right now is from people who've noped out of Sydney but want to invest somewhere.

 

The RBA has already been pretty explicit that the next rate move will be up. I don't think we'll see rates fall now until we're actually in a recession. I mean look at Canada right now, active housing crash, some cities have dropped 20% in a few months, and yet the BoC just raised rates because simply put housing is not the whole economy.

 

Oh yes Auction clearances have always been overstated and dodgy.

Therefore little moves down are actually quite significant!