NSW Property NOT selling in Sydney - Clearance rates below 50%!

I have definitely noticed fewer sales. Some idiots still paying last year’s prices where it is not worth it. A couple of houses which would have sold for 1.5 selling for 1.35. Interested in the wider trend.

 

Baloney, the capital cities are always marching to their own drummer.

 

this month will have the largest monthly drop of Sydney property index.

Aug: 0%
Sep: -0.16%
Oct: -0.51%
Nov: -0.72% (so far)

 

so sellers ask for more, but they get less

 

"The weakness in Sydney and Melbourne appears to be leading to softer price outcomes in other Australian capital cities."

"Like Sydney, prices in Adelaide and Perth have also gone backwards over the past month, falling 0.1% and 0.2% respectively."
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That's hilarious. Perth property prices have been dropping since around January 2015.

It's even in the article:

Listings have also fallen by 13.9% and 3.7% in Perth and Darwin, although, in stark contrast to Hobart, this follows a prolonged period of previous price weakness.​

Who is writing this stuff?

 

@Perthguy

Its a shame as i normally respect Business Insider

 

A new recruit.....who found it elsewhere maybe ???

Or..... A Bot ! ....... lol

 

A.I. is coming to take our jobs! The economy is ending!

 

past performance is not a reliable indicator of the future.

 

Yep despite the anxious dismissals by the 'higher forever' crowd, Sydney price declines are accelerating into the end of the year.

Next year - peak supply coming online with a couple of rate rises...

 

Ya better run....they're in a lynchin' mood....they don't like any talk of Siidney droppin'.....yes guv...that whole tlurth guv...

 

A lot of people still have eyes on Sydney and that it will keep going up... For them a discount for the next few months is a big win as FOMO is still around. 2018 will bounce back to prices previously achieved for most suburbs then, Interest rates will start going up 2019 and that's when the correction will officially start!!!

 

November price data comes out tomorrow with -1% for the month expected which will put Sydney on track for 7-10% price decline YoY

 

Unlikely, rates rising again in dec if not jan 2018 is the more likely scenario and not 2019. And banks are still trying to get to 30 70 lend ratio for loans. Plus more funding needed for basel 4. This will cause continued drop in credit and prices..

Instead of FOMO, its more like fear of not selling now.Lets call it FONS

 

Not sure the point you are making here MTR? You can leverage into equities at an even greater rate than property, through many different instruments/products. CFD's, options, internally leveraged ETF,s.

E.g. Geared Australian Equity Fund (hedge fund) | BetaShares

I could simply take out a loan from X bank and invest in the fore mentioned ETF which would be gearing on gearing. Then take into consideration that the companies listed in that index are also internally geared, thus gearing on gearing on gearing.

 

Same LVR as property? 90%+ on value of asset?? Not so with shares
Also margin loans can be called???

 

My current level of Margin is 434% but that's Forex.

 

Right
I just learnt something today

 

Yep.. CFD for example