Sydney prices will NEVER drop

Rain check till there is an intellectual element beyond juvenile profanities. Unfortunate that the shallow pecuniary existence can be reduced to a sarcastic singularity coincidentally relevant to the thread.

Hold that thought and judgement. Maybe your benefit of doubt was not misplaced.

Beg to differ. Everyone reserves the right to respond to unfounded personal smears. Mateship (and trivializing) does not absolve the rights, responsibilities and consequences from anyone..

 

I just be nice to people that are nice to me.
Plenty of people who have been tools I couldn't give 2 hoots about.
Think you're overthinking it, might need to go for a walk and get some perspective. It's just the internet.

 

Can you send your chocolate wool covered friend to Sydney please

 

Here you go. Median house prices for 2155 Kellyville. Note four cg drops in the last 18 years all less than 5% p/a. Property growth rarely consistent but instead troughs and peaks.

 

Has anyone seen a Sydney metro suburb drop 15-20% consecutively over 1 to 3 years in the last 20 years with > 100 sales transaction per year? not interested in "my mate's house..." or "I know someone..." Just stats and median for a Sydney suburb.

For example, above Kellyville in 2011-2012 dropped total 6.2% despite people saying how mortgage stress it was for post gfc etc.

 

@Jacque is that APM data or other ?

 

Yep, pricefinder

 

I remember someone posting a Western Sydney suburb that had a big drop, but I can't remember which one.

 

@Azazel - it wasn't Steven Keen?

 

After the 2003 boom the whole of Mt Druitt went down on me.

I was gobsmacked to see the whole area do that. I don't know what I'll do if it happened again.

I recall house prices peaking at about 240K in 2003 and a few years later you could pick them up for around 180K

 

That would've been around the time that the boys in blue moved on all of those 'hitchhikers' along the Great Western Highway - mass exodus leading to high vacancies.

 

Maaate......"did I hear that right the whole of Mt Druitt went down on you" .......did any of them have teeth???

Yeah...I would be gobsmacked too....I would not know what do either...other than run a mile.

 

Sash, it felt like my family assets were destroyed.

I nearly lost my sanity. But luckily there was a full recovery and here I am now. Something to tell the grand kids for sure (if they can ever find me lol).

 

@datto - did you sell any at peak? or enjoying the ride watching them tripled..?

 

I actually feel there is some truth to this

 

Yes I have sold some at peak but not in Mt Druitt.

Mt Druitt is a kind of Mecca for Bogans. I can't sell... just yet...but I will for 600K if you're interested lol.

 

Hey I found a Sydney metro suburb that fell 15.6% in 2005-2006... our favorite Mount Druitttttt

oh, it must be end of the world.
It only grew:
102% in the last 7 years, 315k-637k
231% in the last 15 years, 192k-637k

oh, houses do double every 7 years

 

I only tell the truth, the whole truth, and nothing but the truth...

 

I'd consider myself a crap friend if i had a fair bit of experience on an asset class a friend was thinking of investing in, I felt was going to make a mistake and I didn't say anything.

you don't have to give advice, just opinions and what you see as potential pros and cons. some of the best learnings I've had have been from friends and family.

I'm currently in melbourne staying at a friend's place who is also a business partner. we regularly ask each other for opinions on matters completely outside out business partnership. if you cant get an honest opinion from a friend who can you get it from???

 

The whole area went down on you? Gobsmacked indeed.
I knew you were famous out there, but not that famous.