Is this a terrible time to buy in Sydney?

Horses for courses.
For me that would do my head in. And there's no way would I have considered taking my current job which is in Parramatta for CBA if I had to commute from the Northern Beaches. I probably wouldn't have taken it either if I lived in Chatswood to be honest either. The commute is too long. Where I am is central for me

 

If we knew what was coming during the Sydney boom, we all would have leveraged up to our necks. Combined with the pre-APRA days of lending. What a sizzling hot marriage of bliss.

 

Are you saying I'm always right all the time or just most of the time

 

Absolutely.
I cant complain though I got the trifecta, Sydney, Melbourne and Perth... they were all booming at the same time would you believe, of course Perth slowed down earlier though.

 

None of the time

 

Hi @MTR - talking to local agents, certainly isn't the case actually. Agents are saying market is steady. But then west is a big place.

 

Really.
OK, I would say certain pockets.

You guys timed it very well ...

 

Never a bad time and property investing is a long term prospect. Aiming to buy after financial year

 

Agree with this. Some areas have fallen back but some are also holding very well. A house around the corner from me sold last Saturday for an area record price.

 

Any insight into labor policy on IP cap gains changes?

 

I bought in Quakers hill, blacktown and laylor park and i haven't seen much if any price drop in the area or streets surrounding where i bought.

 

It would definitely be a big negative, especially for those who like to buy and sell regularly and redeploy the funds.
It is potentially a bigger game changer than any changes to NG.

 

Personally i agree with you. Financial situation permitting i also don't believe there's a bad time.

But definitely bad markets and types of dwellings. That's where you gotta be a lot more discerning imo.

 

That's why I'm asking- specifically have they 'promised' ( always take w grain of salt anyway) to grandfather changes along w neg gearing?

 

I wouldn't worry about labor this election - Shorty is gonna get creamed.

 

I could be wrong but my understanding was If they are elected current NG arrangements to be grandfathered but the reduction in the CG discount to 25% would affect everyone who sells an ip.
Not good.

 

I hope you are right but it is looking too close to call.

 

They just want to take from the people who worked hard and sacrificed a lot to build a better future and waste it on god knows what they waste it on.

 

fingers crossed.....

 

Hi @MTR,
It was just a case of keeping it simple and stupid. Two sides - harder to get equity to buy in a flat market and when you do have equity, harder to get the "perfect price" when it's rising.