Sydney Not Stacking Up..Young moving to Melbourne

Some of my suspicions are now being confirmed see below

Sydney 'doesn't stack up' without high salary: Melbourne attracting new residents

This will affect the Sydney market into 2018/2019 alongside IR and lending policy changes.

As this article says Melbourne is headed to $1m median within the next 2 years.....

 

You'll have been banging this drum that's for sure!

 

@ashaarrh

 

The same author, Jennifer Duke also wrote:

7 things to love about living in Mount Druitt

...so my suspicion is confirmed that Mt Druitt is the best place to invest in Sydney

 

In a couple of years after Melbourne median passes $1M they'll dust off that article & rework to say Sydney & Melbourne too expensive forcing people to ........

 

They'll be back - they always come back - usually with their tail between their legs. For every person who's had enough of Sydney's astronomical prices, traffic, etc. I can show you a dozen people who've left only to pine to come back, and be priced out indefinitely (after selling up to leave).

There's a reason why Sydney's expensive.

Add to that, the array of infrastructure projects happening a the moment. Prior to say, 2010, there was a dearth of improvements to the city. It's finally woken up.

 

Maybe it'll come a point where Sydney becomes an empty burger in terms of age brackets - oldies who own their places outright as the upper bun, and young professionals on high salary at the bottom who can handle the higher rent and splurge.

 

people need to learn to bloom where they are planted.

 

Melbourne is catching up....places like Werribee/Melton may see a 5 in front!

Hoppers Crossing...Craigieburn may see a 6 in front.....go ya good thing....that would mean 200-400% gains for me!

 

Yeah I know....it all about smashed windows not Avocadoes.....a new trend which is starting to take shape in places like the The Druie....Lizzie...and Logan....a sign of de-gentrifcation.

 

Have seen anecdotal evidence of this in quite a few offices especially call centres...did not realize it was a trend...even from newcastle same story, migrating young prefer mel to syd

 

This is a recent thing...before people from overseas looked at Sydney but word has got around how expensive Sydney is ...that is getting people to look at places like Melbourne ..Brisbane and even Perth over Sydney.

I know people who came to Sydney ...became frustrated with getting ahead in Sydney and moved to Canberra ...Melbourne.....

 

Some may be interested in this article.

Victoria Announced As The Most Popular State For Domestic And International Migration.

 

It's just common sense...dollar goes further...45 minutes you are in CBD from werribee (regular train service )...rental is 350 per week for 3BR...shared among 3 people...a lot leftover for the avocados....better coffee...

 

Yep...and not as many smashed windows...but lots of mashed spiced potatoes for all the subcontinent types moving into the area.

Who know......some from the Druie maybe making a beeline for there......wonder which suburbs in Wyndham will hit the $1m mark.....might not be this cycle but it will happen at some stage....maybe Werribee Sth?

 

And I'm one of them! I'll be heading down to Melbourne to start my new job at the end of August, and I'm rather excited. I always loved Sydney, but I am ****** with how ridiculous the property prices are, so that's a big motivator for me. As an inner-city apartment dweller, Melb is a lot more compelling. I'm renting in Syd and plan to keep renting in Melb for a while. I'll be able to get a place on my own for the same rent I pay sharing with a flatty up here.

I also own 2 IPs in Brissie and Adelaide. I'd be disappointed, even if I end up owning property in Melbourne, if it continues shooting the lights out and matches Sydney on prices. I just don't think it's a good thing. I'd much rather see slow and steady growth, so that everyone can get into the market at some stage.

 

Long term demand in Sydney will always be super strong. Don't kid yourself. Does that mean you invest in Sydney now? Doesn't mean that at all. But if we're talking about long term prospects for Sydney, the demand will continue to be very strong for obvious reasons. And there will always be 'rich' enough people to keep up that demand. I've seen the same thing in other more expensive markets than Sydney around the world. There are a lot of people with money out there who want to live in the most action packed cities on earth.

I laugh when I hear people saying surely Sydney prices wont get any more expensive moving forward. Let's see where prices are in the next 10 years

 

Thankfully not...or we all would still be swinging from our tails in central Africa munching Bananas...evolution is seeped in migration...

 

Choose where you want to live, then find a job, no matter how long it takes; or

Move to the state where you are more likely to be offered a job you like?

 

Lol, probably the opposite at this time of the cycle