NSW So what was being said about Sydney in later 2013 on Somersoft ?

Sydney's hot , Vote before you read

I voted double in next 3-6 years and that where I'd be with Brisbane at this stage . Most people were more conservative .

Cliff

 

11.3% actually thought the Sydney market was over-heated!
I'll back Brissie. Would be good if it could do the slow simmer thing that Adelaide is famous for - with a touch more heat.

 

@See Change what do you foresee for SE QLD and VIC outer suburbs?

 

There will be a grinding and gnashing of teeth?

 

Hehe some pretty funny comments in there with the benefit of hindsight

 

Hehe, hindsight is a wonderful thing for some.

 

This fills me with some more confidence about the Brisbane market heating up, I think your theories of the SS/PC crystal ball are bang on, lots of wisdom on these forums.

I've also noticed invermay looks like it has kicked off. I was very tempted but did not get in.

 

Inner Melbourne ( Richmond ) performed well this year , though the middle ring ( Footscray ) failed to live up to expectations .... . Outside that I don’t pay much attention to Melbourne though on that track I expect Sydney to outperform Melbourne next season ...

Everyone’s been watching Brisbane on the forum with expectations of it taking off for at least the last two years, but I think the ongoing Sydney and Melb booms have delayed this . There are now articles in the main stream media raising expectations of a Brisbane take off so it’s getting closer .

I think we more at the stage of where Sydney was in 2011 - 2012 , rather than 2013

In 2011 - 2012 in Sydney , central areas were starting to heat up without going through the roof . Mid late 2013 was when Sydney started going crazy .

If Brisbane doesn’t go up significantly over the next 4-5 year , i’ll have to relieve myself of my “ timing lord “ status and spend more time on organising a self sufficient veggie patch and renting out our weekender .

Cliff

 

Thanks for sharing @See Change. Interesting to see how people were so passionate about their opinions on the market, much like right now.

Goes to show, even people who have been dealing with property for a long time can more often than not, get it wrong.

 

When you say significant growth, do you expect Brisbane to be 75% of the value of Sydney as history has shown us?

Any reason you don't keep tab on Melbourne?

 

Busy with Sydney , Brisbane , Adelaide and Tasmania ....The APHRA changes have made us look at a more proactive approach. Each cycle we can look at things that we “ could have done “ .

Biggest regret was Geraldton . Saw it when you could get entry level properties for around 60 , but we were busy with a subdivision in Sydney which did well so didn’t buy . One forum member did buy in geraldton and on selling was able to buy a house on sydney’s Northern beaches for cash , and she was aged around 30 at the time ...

In terms of Brisbane growth , I’d expect it too double from previous high .

When I said that about Mt Druitt a few years ago , people said “ no way “ but it ended up doing that , going from around 250 to around 500 ( or over ..)

Last cycle lower end suburbs in Brisbane , Logan etc peaked closer to 300 , but that peak occurred in 2008 - 2009 , so 5-6 years after Sydney .

Historically Logan has doubled in the last three cycles .

Will it do that this time ? I don’t know and I’m not “ predicting “ it , but I’m expecting it too double . Subtle difference ......

I’m basing our financial plans on it going up significantly ( but not on doubling and selling the peak ). We do have back up plans ...

If everything we’ve bought in the goodna / ipswich area doubled and we sold at the peak , we would be in a very comfortable position but it can be risky trying to pick the peak .

Depending on how things are going , we may sell some properties knowing that it’s prior to the peak , if we can see there is an obvious place to buy next and we start seeing movement there . I’m tracking other places for further down this cycle .

Cliff

 

Cant recall what I voted but I was on a Sydney buying spree from 2010-2013 then moved into other markets after it went ballistic.

 

I never voted, however I purchased in 3 booming markets in 2013 Sydney, Melb and Perth

No polls on Perth at this time, but it was also booming

 

@See Change Geraldton WOW that lady must of flipped a few to buy in cash, good on her!!!

Was lending pulled back like now in the last boom after Sydney doubled? If I recall my broker said lending got tight in 2006...

 

I heard her speak at a meetup way back. I remember she said bought about 8 for 80k each (and she would have only needed around 20k for each property) and they boomed to around 300k. Awesome action taking.

 

Not to the extent is has been , though it stopped with the GFC . Luckily we had funds available in LOC's .

Cliff

 

I think she purchased 13, and now has around 55 properties in Atlanta, made an absolute killing on capital growth and cash flow.

North Syd property sold up and moved to Sunshine coast.
I am in contact with this person. Very smart cookie, good on her.

 

WOW she must do a lot of research to find this stuff, good on her!

 

One of the smartest investors I have met, her skill is NETWORKING

 

It was pretty obvious to people at the time what was going to happen in places like that and she wasn't the only forumite to buy there . Geraldton was more remote so that restricted the numbers of forumites who bought there but Rocky benefitted from the same effect and no one was talking about it. Some one did end up mentioned it in the forum / Chatroom and it turned out that several members had all been up there independently buying for a few months

It was really just a matter of following the cycle .

Cliff