NSW See Change and Steven Ryan - lets hype Sydney thread

Lower North Shore, East and parts of Inner West should hold up ok. Even in the unit market I reckon

 

one thing for people to be aware of , is that I don't think the " stats " will show a big initial drop off due to the averaging out of statistics , but this is normal event . ( though I may be wrong ..)

Just as those who bought in the aftermath of the GFC are aware that there was a short period where there were quite marked discounts on SOME properties to an extent which doesn't show up in the stats due to averaging .

Cliff

 

Yep...true....

 

auction rate 63%, median house price 1,136,000
http://www.homepriceguide.com.au/saturday_auction_results/Sydney_Domain.pdf

 

I think its weird... Auction clearance rates in Brisbane was just 42% this week. I know Brisbane isnt such a big Auction market, but I would have thought it should have done better than that. Maybe well located Sydney will still perform better than Brisbane into 2016??

 

@Gockie. sydney just hang in there- I know some areas (e.g.,inner west) are strong still.

 

I reckon... I think the fundamentally "better" areas of Sydney may still keep performing (much slower growth rates, but growth nonetheless) well into 2016. Excluding unit oversupplies etc.

The less strong parts of Sydney... broadly speaking, Parramatta and further West may drop. Just my opinion though.

 

I caught a train to Parramatta today and the volume of cranes on the skyline was shockingly much higher than I expected.

I am aware of the major Parramatta Square (and surrounds) projects in application, ddev and/or nearing completion; but it seems like about three more projects I didn't even know about, have put their cranes up in the last couple of weeks alone.

And, judging by the size of those cranes; they areyclearly accomodating 12+ story heights. Some of it might be commercial, though...

If its all units however, well I feel sorry for those buying in now. Unlikely to be many on this forum I know, sadly its more likely ro be the naive mum-and-dad first-timers who will be getting stung.

 

Lots happening... will there be demand? The slowdown is not in Parramatta's favour...
Major Developments | Parramatta City Council

 

Fun fact: I was at a property seminar the other week and was told that Sydney has second highest number of operating cranes in the world, behind Dubai (could've been Abu Dhabi).

 

Wouldn't surprise me!

 

Yes the library has moved, and is making way for bigger and better things to come. A lot of developments in the pipeline.

 

Looks like half of those cranes are in waitara and hornsby at the moment .

One wonders how many are presold .

Cliff

 

They will be heading over Turramurra shortly Cliff....wait....the Sydney boom is over....phew!

Should be interesting what happens from a supply sense in the Hornsby corridor....

 

Just having a look around my local area that's all.

 

Did they tell you what happened after the number of cranes dropped in Dubai last time.

 

This place sold on the weekend for 1.27M. I didn't get a chance to go to the auction so can't advise how many people were bidding etc.

 

Prices dropped with it?

 

@sash ASQUITH is now appreciating significantly, I've seen it from the YIP magz suburb feature of the week.

 

@Gockie Does the Parramatta price dropped due to CBA back out from the business venue ? or is it because of the supply of the apartment unit in the area ?