Panic Setting in Sydney

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

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  1. Jello_B

    Jello_B Well-Known Member

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    Anyone know much and wouldn't mind helping regarding Dulwich Hill and Camperdown? Thoughts on value for money and what I should go for around the 1.5M
     
    Jello_B, 11th Sep, 2017
    #641
  2. DowntownBlock

    DowntownBlock Well-Known Member

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    Early call is proving prescient Sash...
     
    DowntownBlock, 13th Oct, 2017
    #642
  3. DowntownBlock

    DowntownBlock Well-Known Member

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    DowntownBlock, 13th Oct, 2017
    #643
  4. DowntownBlock

    DowntownBlock Well-Known Member

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    Any response to recent drops of 5-8% in inner city Sydney?

    Per above, does this mean PANIC? :)
     
    DowntownBlock, 13th Oct, 2017
    #644
  5. ttn

    ttn Well-Known Member

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    Feng shui is bad in Sydney today.

    Windy, cloudy and unsettling weather will bring down auction rates and median price ;)
     
    ttn, 14th Oct, 2017
    #645
  6. paulF

    paulF Well-Known Member

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    Now your're trolling ;)
     
    paulF, 14th Oct, 2017
    #646
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  7. DowntownBlock

    DowntownBlock Well-Known Member

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    Calling people out on an early call, naahh genuinely interested ;)
     
    DowntownBlock, 14th Oct, 2017
    #647
  8. DowntownBlock

    DowntownBlock Well-Known Member

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    Been quite dry up there for a long time too right?

    good luck to all the sellers...
     
    DowntownBlock, 14th Oct, 2017
    #648
  9. Tonibell

    Tonibell Well-Known Member

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    Agree - first made in 2014 and every week since.
     
    Tonibell, 14th Oct, 2017
    #649
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  10. DowntownBlock

    DowntownBlock Well-Known Member

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    Was he that early? You know what the difference is this time... Prices are actually down 5% in inner city?

    If you think over-hyped, are you buying to take advantage of the downturn??
     
    DowntownBlock, 14th Oct, 2017
    #650
  11. Tonibell

    Tonibell Well-Known Member

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    Not buying - have been selling this year. Not positive at all on Sydney.

    But would have missed most of the boom if you listened to the early callers.
     
    Tonibell, 14th Oct, 2017
    #651
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  12. DowntownBlock

    DowntownBlock Well-Known Member

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    Sounds like you got timing right tones.

    This price action has got a lot of pppl thinking. I have spoken to a couple of downsizers today with property in Sydney who are rushing to get property on market before it turns down more....
     
    DowntownBlock, 14th Oct, 2017
    #652
  13. DowntownBlock

    DowntownBlock Well-Known Member

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    Expect another downturn in auction clearances this wkend...
     
    DowntownBlock, 14th Oct, 2017
    #653
  14. ollidrac nosaj

    ollidrac nosaj Well-Known Member

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    ollidrac nosaj, 15th Oct, 2017
    #654
  15. euro73

    euro73 Well-Known Member Business Member

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    The wind coming out of the sails is not the same as the wind blowing in the other direction. Real Estate isnt just Growth or Losses. There's this thing in the middle called.... blah

    ie Sydney will moderate . It will plateau ( as will Melbourne soon enough) but it is still (unlike Melbourne- for now anyway) Australia's premier city and offers one of the worlds best climates and lifestyles, so it isn't going to suddenly crash. Also unlike Melbourne, it is geographically constrained, which places a floor under property prices that other cities just dont have.

    The regulatory intervention in lending is taking effect. Investors cant repeat purchase or speculate as often or as aggressively as they once could, and that removes froth. Lots of froth. Thats why auction clearance rates are retreating. Speculators are not able to bid. It will take several years for the O/Occ market to pick up the slack thats been removed by the sidelining of that category of investor - both domestic and foreign. In the meantime, you'll see very little reduction in median prices. Even 5 or 10% is nothing, given the massive gains of the past 4-5 years. Put it in perspective.

    The only people facing trouble, and it may well be big trouble , are those who have piled into Sydney (or Melbourne) and paid big bucks in the last few years or so for very low yields, in the hope of making big growth. When their loans revert to P&I this year, or the year after that, or the year after that - just around the time those tens and tens of thousands of OTP apartments are due to settle... well thats going to be a problem for them if they havent got the cash flow to hold, and are needing to sell ....

    But Melbourne has all the same issues... and Brisbane has issues - not because of price points, but because of stock volumes coming their way.

    Everywhere you look... cash flow is going to be king for the next few years
     
    euro73, 15th Oct, 2017
    #655
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  16. sash

    sash Well-Known Member

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    Privet....

    Should I invest in Roubles then?


     
    sash, 15th Oct, 2017
    #656
  17. Cimbom

    Cimbom Well-Known Member

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    The lifestyle really only applies to a small part of the city. Huge parts of the city have terrible infrastructure and congestion which does not justify the ridiculous prices you need to pay for that privilege
     
    Cimbom, 15th Oct, 2017
    #657
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  18. Beano

    Beano Well-Known Member

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    Beano, 15th Oct, 2017
    #658
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  19. sash

    sash Well-Known Member

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    Yep...that is exactly what I am hearing on the ground...to early to tell but a lot of baby boomers have the same thought sell in Sydney and move to a cheaper Sydney....Melbourne and Brissie are favorites....Melbourne become as pricey as Sydney ...very interesting times indeed.

    Lots of Sydney people are thinking the $800k in profit is going to stay there...that maybe a real surprise for some..........as I said in for some very interesting times.

    2019 will be really interesting in Sydney....lots of very concerned Sydney people out there who are very over leveraged...people who bought post 2014 will have issues as I reckon a lot of their gains will unwind....
     
    sash, 15th Oct, 2017
    #659
  20. jins13

    jins13 Well-Known Member

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    Possible a ripe opportunity for me to upgrade my PPOR from the shoebox place I currently live in at the moment.
     
    jins13, 15th Oct, 2017
    #660
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