Prices may drop to 2013- 2014 level?

There is so much opportunity now and even more to come over the next 24 months, Australia wide. The breed of people who say they can never get into the markets, well NOW and over the next 24 months is there time to pick markets country wide. How many will take advantage of these opportunities? Probably very few. Their mindset hasn't changed around investing so their actions will largely be this same this time round.

 

SYD and MEL represent 11 Million people . Thats @44% of the population. PER represents 2-2.5 Million people. That's less than 10% of the population.

SYD and MEL prices are such that they while the population represents @ 44% of the population, the value of real estate is probably closer to 2/3 of total national value ie @ 66-67%

So when a prolonged correction to markets that represent 44% of the nations buyers and 66-67% of the nations resi real estate value is happening - it warrants some attention

 

This would hammer 80% of investors despite some of the bravado. But i think i will stop at around late 2015 just before the RBA deduced rates. Sydney is not going anywhere for the next 6 years.

Some people on this forum get emotional. Despite all this the Mt Druitt prices are going to land around 360 to 380k by the look of things. That means people who bought in 2015 would have made about a 100 to 120k as opposed to selling in 2017 where they would have made double that.

Then there are some who claim to own in Bondi....but that is a market which has come 20% due to stupid mllenials who had fomo...and now they have fongo. Parts of the Eastern suburbs are just as ******* as the Druie and the hills in terms of price drops.

Now to the idiots who crowed about how most of their portfolio is in Sydney will be crying when they realise paper gains will not be locked in. When they see Sydney continue to drop and Brisbane and other cities rise it will be clear.

Some of these people claim they have been in the game for many years...true but technically they are financially illiterate....they never understood the dynamics or understood the underlying economic fundamentals. A lot of these people have poor education....jaded with views which are dated.Just like the progress of innovation...it applies to property also.

Dems my thoughts....I am here to make money not have emotional debates...based on my track record of catching some the booms and diversifying this...am happy with my progress to date.

 

I am guessing the same would apply to a lot of areas in the greater Sydney region.
Looking at property for sale in that area.
The house value would be very low and most of the value is the land?
What is so popular with the location/land? Being close to Rooty Hill RSL, lots of well paid blue collar jobs close by, excellent public transport links? From what I see it is a long way from CBD and the coast.
It appears to me that some kind of major price correction is needed.

 

Yes, for me, 60% of 2012-17 nominal gains to be clipped from Melbourne, Sydney.

 

Your name and logo suggests you already banked it!