NSW Syd is already off the boil

Went out to Cabramatta to buy some longans and get a feed. Properties were being discounted check the realestate.com.au and Cabramatta went down 3% last year according to Google
Cabramatta is not too far. it's on a train line has a nice little market district that is very popular a good Asian hub so I see this is a pretty good indicator of market sentiment I get it that we're not talking about Surry Hills but Cabramatta is pretty average.
So if there is this neverending boom that we keep hearing about in the media reports then why is Cabramatta come off the boil?
This wasn't much of a comprehensive sample but I was a little bit surprised to see the discounting given the media reports about the bubble well it's already had a little pop.
Sydneysiders please comment

 

What is the product ???

 

I think tracking the stock on market figures is the key to monitoring the suburbs. When it greatly rises, then that's the end of the boom.

 

Normal part of the cycle surely. Shouldn't come as a surprise when it happens. Watch out for the dead cat bounce.

 

2 bed 70s 80s units was where i saw the crossed out prices 420k to 405. 430 to 420 etc.
Then i checked Google and it said 3. Something percent drop. That was not for units exclusively

 

Cabramatta unit market seems to have come off the boil last year based on below growth stats compared to 2014-2015. Lower turnover too

 

@Handyandy would like to know what you think???

 

Talk about sensationalism.. Sydney is off the boil cause Cabra is expensive and has stalled? Haha..

people are buying in surrounding suburbs now cause Cabra is pricey

Admin should put all these "Sydney slowing down" threads together...

 

it's Easter, enjoy an Easter egg and stop worrying, everyone is at the beach or with family, no one buys property on Easter besides a small few. Next weekend will be huge for sales, just watch....

No one sells property on Easter either, I held off putting a place on the market until next weekend because of this.

 

When someone mentions Cabramatta, all I am thinking of are:

- Pho;
- Banh Mi (Vietnamese roll);
- Pork and Prawn Vermicelli;
- Banh Xeo (crispy pancakes);
- Che Ba Mau (3-Colour Bean dessert drink);

Who cares about property prices?!

Now I am hungry!

 

Field trip?

 

Yummy sounds good to me, forget the property game

 

I know Cabra, I've had several properties there (in the past I have ventured out of the Druitt looking for bargains).

No bargains there anymore. Cabra is more expensive than Liverpool and Fairfield. Cabra's culture is keeping it expensive. Also a strong ethnic and family bond.

The high rise fever has not hit Cabramatta ....yet.

I'm sure prices will not drop out there. If I see anything starting with a "2" I'll be sniffing around.

 

Yep, already on my way

Looking at PC can be too stressful. Nothing beats yummy food

You mean 2 million?

 

Which currency? Last time I checked the Dong was up but things can change quickly.

 

The guy saw that i was excited about longans and sold me de-stalked ones for $6 per kg. He offered. Nice guy

 

I accept that I did deliberately do a sensationalist title to gather interest however these are real discounts that I saw on the ground and I was surprised to see that because I thought that Sydney was still rising. based on the media reports. I thought that Sydney was still rising (but with an anticipated future 'burst') that's really where I'm coming from with this post.
I don't know about other Sydney slowing down threads but I do know there is a thread called "when will the Sydney and Melbourne bubble burst" but I couldn't be bothered trying to find it on my mobile phone sorry. But that is the thread that I wanted to add this post to as it looks like there's some evidence there that certain areas are undergoing a correction. Even areas that have pretty good fundamentals

 

OK I don't know the Sydney market. But cycle wise if we are coming off the boil it means that were at 1oclock.
Which means another further drop with sellers desperate to sell should be coming up.

Will this really happen????