Panic Setting in Sydney

Discussion in 'Property Market Economics' started by sash, 13th Mar, 2017.

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  1. wombat777

    wombat777 Well-Known Member

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    Do you think these are related to the decline of the car industry?

    Holden to end car production in Australia in October
     
  2. jins13

    jins13 Well-Known Member

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    I've tried to convince the significant other to move to Adelaide, Tasmania or Canberra without much success. If I was successful in my attempts, indirectly it's a pay rise because receiving 'mainland' salary at a lower cost of living prices in relation to house prices for a PPOR.
     
  3. Realist35

    Realist35 Well-Known Member

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    Good analogy @sash

    How do you think the rising interest rates will affect Brisbane market? Do you think it still presents a good investment opportunity despite the rate rises?
     
  4. DaveM

    DaveM Well-Known Member

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    Doubtful. One was due to owner being sent to prison, others were general default due to relationship breakdowns.
     
  5. sash

    sash Well-Known Member

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    ej89 .....as I have always said time reveals all...I have not regrets....I have made a killing in Melbourne.....just waiting to take advantage of Sydney in 2019.

    I am very close to what is happening in the banks at the moment....both Westpac and CBA are about to announce things which will dramatically affect Sydney and parts of Melbourne. Give it another 2 months.....

    Question for you....aren't you a mortgage broker predominately in Sydney?

    Also...some of the people who troll me on here..have sold their Sydney holdings whilst continuing to talk it up...interesting....

     
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  6. sash

    sash Well-Known Member

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    Yes...ideal situation.....lots of people now moving from Sydney to Melbourne and Brisbane due to affordability.
     
  7. sash

    sash Well-Known Member

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    I think it will have a small impact...but things are turning for Brisbane. The cost of housing there is significantly less.

    But even with a 1% increase houses are still affordable in Brisbane compared to Sydney. With a 1% increase someone will look at a 500k house instead of a 600k home. You still get a lot got that in Brisbane.
     
  8. sash

    sash Well-Known Member

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    Hey...mate good hear back...where have you been?

    Have you sold out of Sydney yet?
     
  9. Realist35

    Realist35 Well-Known Member

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    Thanks mate. Would you personally buy in Brisbane now? Or would you look at other alternatives (e.g. Adelaide)?
     
  10. sash

    sash Well-Known Member

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    I have enough in Brisbane....7 in total...4 bought in last 2-3 years.

    I have concentrated mostly in Geelong/Western Melbourne...
     
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  11. Realist35

    Realist35 Well-Known Member

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    I was reading your post today (about building a portfolio impervious to market forces) and I understand you only buy in Sydney, Melbourne, Brisbane, Perth and Adelaide. To me it only makes sense now to invest in outer Melbourne, Brissy and Adelaide. However outer Melbourne falls out unfortunately as we can't get finance (we need 4.5% yield as a minimum). We also just bought in Melbourne as well as in Brisbane early this year. Perth is a no no as well as it's still falling. So that leaves only Brissy and Adelaide.

    The other alternative we have is just sit and wait, don't do anything. Decisions decisions..
     
  12. JDP1

    JDP1 Well-Known Member

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    Thus is true. I can say confidently that there are more higher paying professional jobs on the market here in Brisbane than there were all of last year (at any point last year, and early this yr)
    This is a good sign. Yes, it's still well behind Sydney and Mel.. But so are prices in Brisbane!!.. And what is especially encouraging is that it's both private and public sector initiating these projects and they are longer term. Seems less speculative and more stable to me.
    Even with this increase in jobs and projects, I still think this country town has a long way to go....but it's making progress and it should accelerate from here ; especially with interstate migration and that puts pressure of prices to increase (also given there are not that many large new developments being announced, like it was last year). I think demand will increase led by jobs, and no big ass developments announced = a f%\\%*ing boom is on its way :))))
     
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  13. sash

    sash Well-Known Member

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    I have bought H&L packages in Melbourne and Geelong which are returning 6-7% upon completion.
     
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  14. Realist35

    Realist35 Well-Known Member

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    But that's you:). I don't think I have skills and knowledge to venture into something like that.

    So the question for me remains whether to buy in Brisbane now (or maybe Adelaide to diversify, as we hold in Melbourne and Brisbane), or just sit tight.

    All the latest news don't seem very encouraging to me - tougher borrowing calculators, rising interest rates, push to squeeze out investors and the latest one potentially banning SMSF to be used for property. But I suppose there will always be some sort of headwinds when investing..
     
  15. hammer

    hammer Well-Known Member

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    Hey it's not for everyone, but as Sydney gets more expensive, migrating becomes more tempting.

    How much time are you really going to be able to spend with friends and family if all your money is going on a house?

    Obviously its not as simple as that...and everyone will make their own choice.
     
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  16. ej89

    ej89 Well-Known Member

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    Nahh i don't work in anything to do with real estate. I'm a health practitioner and own a few clinics out in SW and NW who just loves property..

    I'm def not saying you're wrong, I'm just wondering why you are so negative on Sydney so publicly, but with your intention to take advantage of Sydney in 2019 I understand your reasoning behind the posts now. Def not doubting you've made a killing elsewhere, we've sat down and talked a few times at wenty meetups and ive always learnt off you.. 2019 is a while away I guess.. will def be posting deals on the chat for deals I see when they pop up as I'm always actively researching Sydney, Melb and Brissy in areas myself, family and friends have bought in
     
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  17. RetireRich101

    RetireRich101 Well-Known Member

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    P
    Miss me? How many times I've told you I am already married...
     
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  18. sash

    sash Well-Known Member

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    I am not negative...just know that Sydney is top of the cycle...it takes a while for the market to ripen when happens now will take 18-24 months or so for the market correction to happen.

    Inner Melbourne has the same issue.

    Even Wollongong and Central Coast are nearing to top...in a few more months. My properties there have more than doubled also.
     
  19. sash

    sash Well-Known Member

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    Yes....I can see by your constant trolling.....haven't you got something better to do?

    I realise that you are selling properties and you don't like me posting negative things about the Sydney market...but this is a public forum.
     
  20. JK200SX

    JK200SX Well-Known Member

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    Sash, are you able to expand on this?
     
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