Sydney - the coming correction 2018-2022

Folks..
Get organise bank valuation for Sydney property while you can.
Draw that equity out for your buffer

 

Waterloo rents are dropping too. A mate is renting there (for last 8 years). This year is the first year ever he got his rent reduced for the 1 bed he is renting.

I am not claiming this is indicative of the market. But surely LL wouldn’t do it for his beautiful eyes.

 

Does anyone know where to get historical and current sale listing statistics ?
I got a sense that amount of stocks listed for sale has increased by many folds compare to maybe a couple years back.
I remembered that I was seeing crappy stock standard 2 bedders in Waterloo going for auction and plenty of takers, it seem that was a distant memory now.

 

Home prices have fallen in most Australian capital cities since the beginning of the year

22% increase of total listing compare to last year for Sydney. The amount of new listing didn't increase. This means stocks are not been clear quick enough and a rapidly building up. oh no!

On the bright side for those who has diversified to Brisbane and Perth might be rewarded soon as
Brisbane is the only major capital city that have recorded improvements and the amount of stock and new listing for Perth has gone down by 5.7%

 

Well looks like sentiment has reversed suddenly and now the herd runs for the exits. Fear of not selling now rather than FOMO.

We shall see if Sydney still has the oft quoted undersupply over next half year.

Will be interesting to see RBA's response to this.

 

I was doing checking the 12 months rental and buying stats on realestate.com.au/invest of various suburbs and looks like the demand for the vast majority of the suburbs are down significantly compare to a year ago. High build up areas are down as much as 50%
Liverpool Investment Property Market Data
Marrickville Investment Property Market Data
Zetland Investment Property Market Data

for rental properties such as a standard 2 bedders Zetland has seen a significant drop from 915 visitors to 262 visitors. For those who have brought in the last 3 years will be in a world of pain I could imagine.

 

Just saw this. Not sure what is driving the "correction" with rate rises still off the cards..thoughts everyone? Moody's tips house price 'correction' across NSW

 

Availability of credit

 

do u know which part of waterloo.. i am in this area, rent is flying out the door.. my pm told me and i check his website.. everything is out the door.. they rented everything.

 

With the supply in Liverpool 30% is not out of the question.....

 

Don't call me Oracle ....dem words will get me lynched on this site....

As for your ex...its called Karma....wait till late next year.....if you can...the panic will set in with sellers as they realize that the market is correcting and as IO loans come off with investors and owners who claimed investments to qualify for the property and it goes PI.

You may even see some smaller homes come in under 800k......good things come to people who wait.....

 

maybe it hasn't drop to that level where there is a significant vacancy yet. but by the look of the stats and trend, it shouldn't be as crowded as it use to be.

 

Yes, time to sit and watch.

 

you know it has to drop further when the messenger for price drops thinks 1.5mil is a good buy....lol.....

what rent would you get ? still 700 or 800.....so nah....something has to give if the markets run out of fools.

 

Nah rents are $1100 plus pw...there but still under 4%....

 

Close, but no cigar......

It is the eqv of a watch and maybe act if it has been slow for a while and signs of new life pop up..... or do you want a "larger" land tax bill ?

 

in saying that the rent hasnt increase.

whent from 700 -750 - 820 mighty fast for 2 bedroom.. now i think most hover around 750-800

 

Liverpool apartments will come under a lot of pressure.
At least 10 high rise buildings under construction .
Most resi 3/4 office buildings and uni.

Houses in Liverpool will not move and significant amount.

But be careful with apartments i see a 10% downside risk.

 

Actually, Moody’s research seem to predict the complete opposite. It expects apartments to be unaffected, but expensive (over 1.x mil) houses to correct.

A house price 'correction' is coming in Sydney

Expensive houses feeling the most pain kind of make sense, given that the main reason for this correction is cuts on available credit

 

Apartments have already gone backwards. The flocks of buyers willing to buy anything are no longer around.