Panic Setting in Sydney

Many REAs are, let's face it, rats.

I had a run in with one a few times, did not realise it was the same person had the two places. They are habitual liars in the ads.

This one had a garage in a back yard that had no access at all, surrounded by neighbors, so maybe a crane......place had double garage at front, so I call it 2 parking.

They advertised 5, front had a driveway. There was undercover parking for 2 cars, that was all. They got 5 somehow by adding rear garage, double attached garage (usable) and the driveway.

I think I should measure the street, that is parking, no ?


LOL I just did some searching, seems rampant, I just saw another ad that had 8, another with 9 parking, one has a double garage the other a triple (at least it also has side access, so maybe you can cram in 9 somehow)

Dirty rats, wonder what else they make up

 

You can do better than this.

Time will tell ... .

no

 

Trolling again my friend?

Happy to discuss topics which are relevant but if they are not then please don't post!

 

Promise me @sash to do the things I've done

walk away from trouble if you can.

It won't mean your weak if you sell right at the peak

I'm sure your old enough to understand

@sash the Sydney boom was no flash in the pan.

 

So...I take it you are one of the ones who are getting out but still talking up the market so you can get out then.

 

Not at all - I've never claimed to be able to look in to the future with any accuracy.

I've Just noted that the people claiming to have this power have been consistently wrong for 2 - 3 years but still talk down to those that have expressed a different view.

Personally I think investing is about making money and getting out. No real interest in riding out the cycle.

 

Maybe....but the people who hold a lot are the most successful......getting in out in some cases also triggers a lot of CGT unless you can manage this.

Having said this... I am looking to see some of my stuff just not the quality stuff

 

Looks like the oracle... aka @sash has got some of it right about a correction in Sydney -
House prices fall in Sydney for first time in 18 months

Although there may have been a dip in February and March. I actually would be interested to see how much effect this slow down will have on house prices in the more affluent suburbs in the inner west, eastern suburbs and north shore which are popular with PPOR buyers rather than investors.

Would be interested to see how the data is broken down and whether the fall is linked heavily to apartments in popular IP areas. Just my two cents worth.

 

Ekin...LOL...not sure about Oracle....but definitely a downward trend....the key is how hard the land is going to be.....that will show up in in aobut 18-24 months.

I too am interested to see how it will affluent suburbs....with jobs the way they are it is going to get interesting..however a lot of these suburbs also have people who have lots of equity.

The worrying trend is the Hills and Southwest...that is likely to get hammered.

 

Yup, 0.1% so far.It can be the start of a trend. According to the the ABS, Sydney prices went up by an average of 70% in the last 5 years. I guess we'll be waiting here for a while...

 

You have to look at the Hills as several distinct areas. For example, established 2-3 Million suburbs like West pennant Hills, Beecroft, Cherrybrook etc arent full of new home buyers with huge mortgages. Suburbs like Kellyville, Glenwood, Rouse Hill, The Ponds...might be a little bit of a different story

 

Just curious to know when Sydney does falls in the next few years, which suburbs would you be interested to buy as an investment property?

 

Yeah...I was thinking about the same thing about properties in the hills and south west... getting off topic do u classify pennant hills and thornleigh being part of the hills?

 

If i had the funds, Probably surrounding suburbs of Parramatta. Would target town houses or stand alone houses. How about you?

 

pennant hills yes thornleigh. people paying silly prices in west pennant hills

 

It could really be anywhere, but not likely Eastern Suburbs unless business is smashed (apartments aside)

I have known many people over the years, who have bought when booms have been going, then when it turns and the news not talking about big gains etc all the time, they get sick of the things that come with investment properties & the ongoing costs, none that I know were forced to sell, but they do, they walk away because the same short sighted view that gets them in near boom end, gets them out when it falls.

I have seen this with many average people. Won't be any different this time. Add those to the forced sales and mortgagee, along with apartments etc, who knows what can happen, I think people are too optimistic about small losses, but long term home owners or those with a view to hold who have decent yield, they won't care either way.

 

yep happens all the time

 

I stopped buying Sydney in 2014. Unfortunately I don't see any value in Sydney at present.

 

I wonder what @sash answer is on this one.. maybe hills and southwest?

 

Just another 699 months to go at 0.01% to lose that 70%