NSW Opinions -Sydney

I reckon it was worth more ..with the right agent

 

Some people have a higher risk appetite. For the people who are smart/lucky enough to get the timing right can make big gains in the same 10 years compared to a buy-and-hold strategy but it can also go the other way and actually end up making less gain or even a loss in the same time.

Different nuts, different bolts and all.

 

If my finances allow, yes but certainly not at the peak(shoulder). I'll wait and see how what the market does in the next 12 months.

 

I attended an auction in the Canterbury region last Saturday. 3Br, 1bathroom, LUG that was tiled and looked like it could be used as a granny flat. A/C already installed, renovated kitchen, renovated bathroom, polished floorboards. ~500 sqm, with a neat garden and entertainment area.
Quiet street in a suburb that has experienced ~20% p.a. increases over the past 2-3 years.

~15-20 people attended the auction. 5 looked like they were actually interested, 3 of whom were of Chinese ethnicity. No opening bidders. Auctioneer put in a vendor bid after ~5 min of $1.3 million (~10-15% more than median). No bids placed. Property passed in.

 

We can't guarantee what the temperature will be next week, so how can you guarantee a certain magnitude of correction? 5% or 30%+, nobody knows until it happens.

I think you can definitely predict direction with some certainty.

 

History is the best indicator for us to go off and there will not be a 30% correction I will guarantee you. We have a record low interest rate coupled with a very low dollar, and this situation will not be changing anytime soon. Income will increase in the next couple of years and we will all laugh about how we used to think property was over priced back in 2015. Just look at history.

 

Well put. Like any investment there will be bears, bulls, chickens and pigs and they can change positions as the market moves.

 

I personally think 30% is a crash, not a correction... I can't see that happening unless there's a black swan event that rocks the nation.. some properties will be 30% less than paid for but thats normal..the whole thing to come down 30% is huge. Will take us to pre-boom.

 

What are you trying to sell me? Services? Property that you don't want? Because that's what it feels like when you offer me a "guarantee".

Can you guarantee that the Chinese will continue to buy in Sydney despite capital controls in their home country?
Can you guarantee that investors will still be able to have the same access to credit as they did before, despite the changes introduced by APRA?
How can you guarantee that income will increase in the future when real income has been stagnant/dropping and workers are being laid off around the country?

You can't guarantee anything. Consider all possibilities and plan accordingly.

 

What's that standard disclaimer? - Past performance is not an indicator for future performance.

In any case, there may or may not be a 30% correction but certainly more than 5% for sure.

in 20 years, we'll have been through a couple of cycles and all these short-term variations won't amount to squat but if someone bought at the peak, it'll have slowed them down a bit depending on their strategy.

 

Stop panicking buddy, you sound hysterical. I guarantee that there will not be a 30% correction and just like I said if you could calm down long enough to read it, "unless something catastrophic happened". In the current market, why on earth would there be a 30% correction? Prices went up, it always happens, it's called a property cycle- get over it. If you can't afford the property then go and buy in Tasmania because if you are waiting for a 30% correction you are going to be waiting for the rest of your life time.

 

Lol- I actually think there will be more growth. Just very slow growth for about four or five years. Then boom! All the bears go back in to hibernation where they belong..

 

There you go guaranteeing again. How are you going to guarantee that a catastrophy won't happen? How are you going to guarantee that a 30% drop will only happen with a catastrophy?
The GFC was also unexpected, but it happened. So did the dot com boom and bust.

What's your reasoning? Or are you just sustaining yourself on blind faith?

 

It's this really great new method, you should check it out. It's a mixture of research, logic and common sense. You might need to google the last one

 

Start a poll and find out what others think.

Perhaps some properties could drop 15%. Sydney dropping 30%? Not a chance. Our economy is not that bad. Its still a great place to live and work.

That's just my opinion though.

 

Please don't make things personal. If someone can't stand opposing views they can back up their arguments by evidence or just leave it at that and not resort to personal attacks.

 

Agree.

 

Oh for Gods sake? What are you 10 years old? Personal attack? He is the guy carrying on about me using the word Guarantee. If you can't apply basic common sense, then I will tell you so. I

 

Is the 30% fall opinion inclusive of ~2.5% inflation?

eg if property purchased now for 500k today in 2015, and was sold in 2025 for 500k(same price), does this mean a 25% fall (2.5% x 10) in the 10 years?

 

lol the guys are arguing about whose random opinion is more right