Join Australia's most dynamic and respected property investment community

Sydney house prices crash

Discussion in 'Property Market Economics' started by twobobsworth, 28th Jan, 2016.

  1. twobobsworth

    twobobsworth Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    298
    Location:
    Sydney, New South Wales
  2. Xenia

    Xenia Best Adelaide Property Manager Business Member

    Joined:
    21st Jun, 2015
    Posts:
    2,888
    Location:
    507 South Rd ASHFORD SA.
  3. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,545
    Location:
    NSW
  4. MarkB

    MarkB Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    180
    Location:
    .
    From the linked article -

    [​IMG]

    I think it is somewhat unfortunate that Domain Group senior economist Andrew Wilson said "this is quite a sobering, startling result. The rollercoaster of house price growth Sydney has been on has clearly crashed."

    [emphasis added]
     
    Tekoz, FirstTimeBuyer and skuzy like this.
  5. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,775
    Location:
    Sydney
    I'm waiting for property owners to sell, sell, sell.
     
    Tony Fleming likes this.
  6. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,545
    Location:
    NSW
  7. jaybean

    jaybean Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    1,075
    Location:
    Melbourne
    I just threw this together:

    [​IMG]
     
    blackenator and Bran like this.
  8. neK

    neK Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,610
    Location:
    Sydney
    The reporter is Jennifer Duke, is that the same person as @Jennifer Duke on here?
     
    larrylarry likes this.
  9. Jennifer Duke

    Jennifer Duke Well-Known Member

    Joined:
    23rd Oct, 2015
    Posts:
    326
    Location:
    NSW » Sydney
    Hi, yep sure is!
     
    WattleIdo, Perthguy and neK like this.
  10. Jennifer Duke

    Jennifer Duke Well-Known Member

    Joined:
    23rd Oct, 2015
    Posts:
    326
    Location:
    NSW » Sydney
    Personally won't call it a crash until we're seeing a reversal back to $figures seen three years ago prior to the boom.
     
    Perthguy likes this.
  11. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,516
    Location:
    Sydney & Gold Coast
  12. neK

    neK Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,610
    Location:
    Sydney
    Nice!
     
    Jennifer Duke likes this.
  13. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,516
    Location:
    Sydney & Gold Coast
  14. radson

    radson Well-Known Member

    Joined:
    4th Jul, 2015
    Posts:
    902
    Location:
    Balmain
    What is a 'crash' anyways?.. I do suspect that Sydney will be mellow for a while but crash in this context seems super melodramatic.
     
    WattleIdo likes this.
  15. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    9,869
    Location:
    Perth, Melbourne, Atlanta, Boston
    Not sure whether this is a fallacy but generally property crash means 20% drop and calling a bear market shares, also 20%/
     
  16. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,477
    Location:
    At work
    @Jennifer Duke

    If you can start spruiking Brisbane as at the start of its boom, then that'd be great.

    Thanks in advance.
     
    Whitecat, chindonly, Northy85 and 7 others like this.
  17. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    9,869
    Location:
    Perth, Melbourne, Atlanta, Boston
    3% drop is just an average, Syd west has I believe dropped 10%, I would pay more attention to selling prices, days on the market and specific areas, otherwise its pretty meaningless. Perhaps I am cynical in my old age... back to another coffee:) just my opinion.
     
  18. radson

    radson Well-Known Member

    Joined:
    4th Jul, 2015
    Posts:
    902
    Location:
    Balmain
    Sydney has consistently proved me wrong in terms of housing prices. I have always thought the median house price/income ratio is unsustainable coupled with our record high debt ratios but who knows if Hong Kong can have a 19 factor house/income ratio maybe Sydney can too.

    Despite all this, I will still steer clear of SYD for a while although very happy to rent here :)
     
  19. See Change

    See Change Timing Lord Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    2,340
    Location:
    Sydney
    Having watched the Sydney boom upclose and personal over the last few years I have been quite unimpressed with Andrew Wilson's reporting and this is just another example .

    The reality is that every cycle there is a pull back at the top and the explanation is so simple .

    mid late last year , there were multiple people competing for most properties for sale in Sydney . as a result we had multiple properties selling " well over expectations " . now that's not happening so properties are now selling for expectations .

    In the share market it can be called a " blow off top "

    You can't have a peak without this happening , otherwise it would keep on going . It's a normal part of every market ,

    But , that doesn't sell a story .....

    Cliff
     
    AdemD, Tekoz, Hodge and 3 others like this.
  20. JDP1

    JDP1 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,218
    Location:
    Brisbane
    3% would be averaged to the whole market and is about right imo and is not a crash. A crash is significantly more than 3%.
    I predict a slight dip (of about 3%) then flat till the next cyclical upswing. The pain will not be in the 3% drop in itself solely ; it will be in the opportunity cost foregone with a long flat period following the 3%, in addition to the 3.
     
    Whitecat likes this.