NSW Sydney Property Hype 2018

You're no fun. I would advise them to promptly purchase 2x 2 bed units in Zetland.

 

1503/20 Gadigal Avenue Zetland NSW 2017 1503/20 Gadigal Avenue Zetland NSW 2017 - Apartment for Rent #423773002 - realestate.com.au

Zetland is actually not bad yield.

It thibk the one above is probably 4.4% you can do alot worse in Sydney.

I have almost 0 vacancies over 11.years.

Obviously i bought a long long time ago

 

Well, I told a bit of a lie, usually say....that is not a good idea (read, I am saying your stupid if you proceed), but, as usual, they go ahead anyways......

How many over priced units and OTP my many relos and friends and friends of friends bought is scary.......they are 100% now, loosing money,,......and for some of them, yet again !!!!!!! some do it each cycle !

 

If it is your mother, that is different, you really need to learn a lot, as this is critical, if you have to ask here, best advice would be really take your time......a long time, read a lot, look at what is happening.

 

Oh, dabbler pal....

 

Apartments have not gone through the blood bath yet...But will later this year and next year. So many overseas money paid as deposit too..Really wonder how the developers will get their money back if large number of people default on settlement...Not promising...

Anyone has seen similar things happened last cycle?

 

You should become a politician, or a reporter for fake news....lol

 

I've been thinking about the same question, things that came to mind:

- no easy way to get to the train line for folks working in the city
- traffic on duffy ave and sefton rd sucks, to say the least
- too close to the bush for some people
- while driving out to town, need to go past quite a few industrial businesses (auto shops?) that don't look particularly nice. Personally i'm ok with this, but got friends saying these businesses are at odds with the quiet residential blocks nearby.
- and what's that huge block of vacant land to the east of quarter session rd? i drove past it one day and it looked rather mysterious to me, not in a good way (think i saw some barbed wire and signs to not enter or enter at your own risk etc.)
- prices are not cheap
- lack of schools

 

I don't live in the area so may be wrong (and it may have changed) but I was told Westleigh had a lot of housing commission compared to its surrounds. Apologies if this is incorrect.

 

If we step back from North West or lower north shore. Is it still a good time to buy big acerage properties in Leppington etc. ?

Edit:I am seeing more and more adds-is it bcoz of new airport exusting owners wants to move out and hoping to target developers etc...

 

Sydney property price changes by deciles. Interesting... my IPs are in deciles 1 and 2/3, PPOR in decile 10. Looks like the lower end is holding up better. That's what people on a limited budget will buy...

 

Maybe describe the return they might get? 1.5 including stamp might get you less than 40k net. Etf / lic would conservatively give 60+k.

 

I knew something wasn't quite right with Westleigh, and here is a possible explanation:

Toxic Secrets: Where the sites with PFAS contamination are near you

 

Thanks for the link @np999

 

Wow. I always considered Westleigh a liveable place. Definitely struck off the list now...

 

I told my wife as we are looking around Carlingford/WPH and one of her friends relative bought there and she surfaced the idea and I was also keen on until I asked the question few weeks ago and definately off the list.

 

A side observation: the rental market in Sydney is pretty weak atm. Great time to be a renter.

I reckon it will stay this way (or get worse) for at least the next 12 months. This is the storm investors will need to weather before vacancy rates start dropping again. That and the IO cliff.

Just my thoughts.

 

Better buckle down, the hurricane is coming to Sydney:

1. I/O to P/I conversions....this will push up repayments up to 50%. If people did not plan with 10-15 years I/O they may get into trouble.
2. Lots investors cannot refinance.
3. Rental vacancies are increasing dramatically in Sydney and rents are dropping
4. Under new APRA enforced serviceability rules...most people will find they have reduced amounts they can borrow
5. Number of buyers have dropped days on market has increased significantly. Buyers are now taking their time in buying.

If you are over exposed in Sydney.....and have not got out by now.......it is going to get interesting......

 

Why is that? I remember couple of years ago anybody and everybody could refinance and on better rates. I am asking because majority of the properties will have equity built in that can be used.

I am renting now so may be we will wait for next winter unless find a bargain

 

Because a lot with a few properties cannot service .....based on new regulations set out by APRA.