Sydney prices will NEVER drop

yeah thats actually true. With the possible exception of melbourne in addition to sydney, everything else in australia is nothing more than a dustbowl country town.

 

What do you mean Bob, you been kicking puppies?

 

Yeah, those icky coastal places are just gross.
Right on the water, ugh.

 

Anyone dare to kick my puppy would be pretty dead by now. *stare at @Scott No Mates *

Coincidence... did you kick a puppy?

 

Let him think and do as he wants, seems is set anyway from your words.

Things are dropping right now where I look in Sydney.

 

My advice is don't give advice. Its pointless. Nobody knows what's going to happen. Whenever advice is given you open yourself up to potentially getting blamed. Save your friendship!

 

Did Scott kick your puppy?? Let's get him!

Last time I kicked a puppy, it bit me when I was delivering pizzas, and I'd do it again! Little mut!

 

I'm kidding. If he did he won't be able to post here for quite a while.

It's doing it's job! You better kick the owner...

 

No. Just a coincidence with old mate statement I hope

 

Only cowards drop sly comments about someone they dislike in the hopes of getting a few 'likes'.

Pathetic.

 

Did I miss something? (mustn't have been the dog).

 

Don't kick us

 

Guessing no coincidence then, gave you the benefit of the doubt.
Just being a PITA?

 

That's the one!!

 

ABS has good widely-accepted stats.

Other than that... Sydney house prices drop 3 per cent

Which aligns with: Sydney property prices fall for first time in three years: ABS

Prices most certainly DO drop in Sydney. Whether it's a large enough drop to be deemed concerning is a separate question.

And these weren't the first times.

There's more granular re-sale evidence that you can point to if you'd prefer (I tend to find this convinces people more that something has happened). Remember also that a small price GAIN over a period of time can also be a real-time loss (particularly if you were holding and paying interest on that property and if inflation was happening).

For instance - just a quick search of RP Data for Blacktown properties reveals an apartment on Oxford Street that just sold for $426,000. In 2007 it sold for $209,950. In 2002 it sold for $200,000. The average rate of inflation over those 5 years from 2002 to 2007 was 2.7 per cent. You do the maths...

 

@Jennifer Duke - a journo who uses stats? (& doesn’t make them up)

The ABS has released their stats app today. How sad is that I know?

 

Now that I think about it, I believe it was Sash who posted them. There were several properties showing circa 2003 prices then the sale prices many years later and they were like 30-40% down. If it wasn't Kellyville it was around that area.

 

Very true. Those who always have to win and be right end up encouraging people to do things that potentially can go pear shaped. Do your own thing and if they ask what you are doing you can share, but its ultimately their life, their journey.

 

For some reason, the thought of seeing how far they would go does enter my mind