NSW Sydney prices still falling...

Well its almost bona fide double fronted (7m) but not overly deep...circa 20m, so between 140-150 sqm

 

Well, these are the kinds of IPs you want to hold, even though the land tax sucks. LT, can't go wrong if you didn't overpay.

A lot of things happening for that part of the world... reckon King St will be (a little) less of a carpark once the tunnel goes in, plus there's Eveleigh and its rebirth as a tech hub, NHSPA is becoming more sought after, etc.

 

26 Haines Avenue, Carlingford, NSW 2118

This property got sold on 1st auction and had approx 20 register buyers. Moreover it was shown on channel 7 news (6pm on friday) as most viewed property.

Anyone views? Sold above reserve

 

Sold for 1.36, I would say well below peak prices.

This, https://www.realestate.com.au/property/20-haines-ave-carlingford-nsw-2118, sold for 1.5 in 2015.

 

Oh wow and bit smaller land size too but bit fancy looking from inside.

 

Exactly only history will show if you overpaid or not. If you can save just 10% off capital price paid can make huge difference to Profit numbers over time... pay over the odds in a period like now and you could be waiting a decade for decent CG

 

Yep 20% discount from peak should be minimum when negotiating in northwest Sydney at the moment

 

Prices fell last month in every measure except anecdotal it seems. Bit like the green shoots we heard about in Jan and again in March.

 

1: What type of commercial property did he have ?
2: what period did he have to repay the $12m ?
3: what was the debt LVR before the request was made?
4: if he could not repay the debt what was the consequences ?

 

It was an Auction so withought negotiation they hot good result (I guess).

 

Purchasing strategy is so important in a down market.

 

I believe in all markets

 

I believe sydney will go down again in moderate rate. May be -5% per year..

 

A soft landing would be nice, if it drops another 10% from here, we may see whole new level of FONGO.

Sales volumes are down 20% year on year suggesting many are holding off selling hoping for a recovery but if this soft land doesn’t materialise within 12-24 months all that selling pressure will build up. Bear in mind OTP completions are still pumping out plenty of new stock, peaking in next 3-6 months.

 

Is this thread a Fantasy league on Sydney property market?

If you decided to actually buy a property in Sydney, you will be paying 2017 prices by the time you got your approval and started making offers.

 

Mate falling prices in Sydney are a reality that is irrefutable proveable.

Your Sydney recovery is the fantasy. All real evidence says prices falling, only thing saying recovery is anecdotal sprain from vested interests and desperadoes.

 

Oh sorry I must be mistaken .. I think we can put aside corelogic, auction numbers and even SQM as anecdotal stuff .. what if corelogic index has only gone up since Election Day, we can always focus on full month and full quarter numbers to keep driving the point that it’s falling.

Let’s go a bit far and I will ignore $40-50k average increase in valuations across my sydney portfolio on APM data and also on CBA valuation app. Agents not as enthusiastic to take calls from bargain buyers must be part of some new act too.

Banks, agents, data companies, valuers etc. could all be just spruiking but I am glad that you know the truth that market is actually falling.

 

Don't think the fellow has ever posted anything remotely positive

 

Agreed - I think he is invested on the wrong side.

 

rather than just typing emotionally... can you actually find just post any evidence of prices not falling recently...

Judging by your posting history, you have predicted 8 of the last zero “market rebounds”