NSW Sydney Market..where is it heading..a personal view..

Yes probably....the Chinese are still buying there....just a lot more cautious...

 

Great thread. I love this forum, it is an outstanding research tool.

I would love to hear thoughts on volume over the next couple of years. What happens in Sydney mainly and other parts of NSW as well when the market comes off. I assume that even if growth dies completely there are still are lot of transactions and correctly prices stock still moves well.

(We are going to expand to Sydney and am trying to map out growth for my pratice and am really looking forward to following a different market and learning about the intricacies of the Sydney one. I have employed someone who has had their own NSW property practice and also a NSW conveyancing solicitor to take care of the actual legal side of things, but am so glad PC is here to help me learn about the market, commercial side of things etc.)

 

I wouldn't call the CC Sydney, so what happens in Gosford seems pretty irrelevant to me

 

Median house price in Sydney tops $1 million for first time

http://www.afr.com/real-estate/resi...tops-1-million-for-first-time-20150722-gihqjk

 

And there it is.. $1 million medians.

The source simply says 'property' medians. Can i infer that this figure reflects a blend of all housing stock types? (I.e. attached and detached houses, units, townhouses etc.), or is it purely detached houses only that this number reflects?

Being Domain, I'd hazard a guess it is houses only?

 

I'd guess that "houses" include fully-detached, semi-detached, villas and townhouses as per their default search selection for property type "house".

 

There seems to be a general consensus that Sydney CBD units are a bad investment / poised for a drop / overpriced. What is the reasoning behind this belief?

 

Because they are so expensive that no one is buying them.

 

That's not the case at the current point in time. E.g. Entire off the plan blocks of units sold within 2 days in Darling Harbour.

I am not questioning the reasoning, I'd just like to know the details behind why Sydney CBD units are expected to fall more than other properties in Sydney in a relative sense.

 

I was being sarcastic

As you point out yourself, they are being snapped up very quickly by investors who see value in the current market. They are only "expected to fall" by speculators and/or people using their first posts in a forum to generate discussion.

 

I'm not only trying to generate discussion, as an owner of said properties I am seeking advice to make a rational decision based on the fact that Sydney is probably near a peak.

PS There are many references in the forum to sydney CBD units and that people should "steer clear" of them.

 

Perhaps this post contains the advice you are looking for: https://propertychat.com.au/communi...sydney-median-house-price-peak-and-when.1751/

 

Thanks chylld. However, that is a general view of Sydney. I am trying to compare the long term Capital Gain of Sydney CBD units to other Sydney properties, in particular those with a land constituent. I believe that CG must be the reason Sydney CBD units are to be avoided.

 

Seems like the CC like narara, kanwal, killarney and berkley vale have more realistic prices now.

 

I wonder how's the northern beaches going to fare in the next couple of years given it's more of a lifestyle-ish area.

 

Lot of money on the northern beaches . The top end of society and the upper northern beaches was hit badly by the GFC which did hit the top echelon of society eg merchant bankers quite heavily but as long as the financial sector in Sydney is ok , the upper northern beaches will go ok .

One common trend is when the kids finish school on the north shore the parents cash up and buy on the northern beaches .

The kids are usually P...ed off that their parents didn't do that while they were at school .....

The lower northern beaches is really just part of the greater suburban sprawl

Cliff

 

It just seems good value considering some of those project homes in Cherrybrook and nearby areas are now asking similar amount of money as the 'cheaper' northern beaches stock. Might not be prime areas like Avoca or Palm Beach and have to settle for something like Bigola...oh the view.

 

Yeah, I had friends looking for a PPOR recently.
LOTS of competition.

 

How were the Sydney Auction results over the weekend? Any analysis if we are starting to see any trends/movement in Sydney market?

 

In the low 70%. Similar to last week.