Sydney - the coming correction 2018-2022

The 17 “danger” markets included: Wolli Creek, Wentworth Point, Waterloo, Rhodes, Parramatta, Mascot, Homebush, Homebush West, Haymarket, Harris Park, Forest Lodge, Ermington, Epping, Chippendale, Carlingford, Breakfast Point and Zetland.

 

Even though I want to have a home for my family (long term) but Somehow spending more than a million on PPOR kinda scare me

RBA on hold: Will house price falls derail rate-increase plans? August 2018 Interest Rates HOLD&utm_medium=email&utm_content=none

 

I tend to think winston hills and northmead (the old hills council area) are pretty safe (not saying no drop) will benefit from growth of parramatta and to a lesser degree growth of Westmead. Baulkham Hills on the other hand I feel will lose its prestige anything not near m2 busses or new rail to suffer.Epping carlingford and north rocks offer more to the demographic that is buying in Baulkham Hills.

 

North Rockas and WPH are our 1st choice due to proximiry to work and access to M2.

BH,WH and Northmead traffuc can be an issue due to busy windsor rd and other roads but lets see no rush.

 

Sure....but its so localized eg. go 2k's SW of Wolli Creek and you hit Bardwell Valley which is a gem of an area and worth holding for decades etc....

Basically this is a case of people overpaying for certain developments and not systemic widespread drops.

 

Six of Australia’s property investment hot spots - realestate.com.au

I guess good luck

 

More news which is negative for Sydney...looks like Brisbane going off is a matter of when?

‘There’s definitely more bang for your buck’

 

Sold for 1.28m in March 2015 which was probably in the middle of the boom. Had been rented since and looks like no reno to date
https://www.realestate.com.au/property/10-dallwood-ave-epping-nsw-2121

Now for sale with architect designed approved plan and looks like it is owned by the agent or its family or associates. This RE agency has been operating for more than 10 years in the area so I am sure they would know what they are doing right?
10 Dallwood Avenue Epping NSW 2121 - House for Sale #128948102 - realestate.com.au

How about predicting the property will be sold for how many $$? 1.7m you reckon? or maybe the area prices is crashing down so it's time sell sell sell

 

there are quite a few of 4/2 houses in that area for sale, all asking in between 1.2-1.4, so yeah, I assume that was the sarcasm about them knowing what they are doing. I don't think they do.
I wouldn't be surprised if the vendor really wants to sell, they would need to go below their 2015 price.

 

Re: Epping.... was this massive underquoting?

 

Not really...banks are shy of Epping at the moment...lots of mainlanders tryin' off load OTP units before the day of reckoning comes...

 

For a moment I thought it is asking for 1.35-1.45 but looking at auction results sold for 1.85 ... too many cashed up people

 

Nah, the quoted price was in the money range, it's just the buyer wanted to pay 20% more

 

27.59% more.... I don't know who bought it, I'll assume it might have been Aussie Chinese unless I read otherwise.
That 400k could have bought a house in another city.

 

Something I'm noticing in my conversations with people who aren't necessarily property investors just general people, is there seems to be getting more and more a general narrative that Brisbane is going to go up. I think certainly the media is very favorable for Brisbane you see a lot of articles saying that it's got the best prospects moving forward so perhaps people are picking up on that. It doesn't really matter how people get that information if people are spreading the word around that Brisbane is going to do well then that's good enough to get that mass psychology buying and paying just a little bit more

 

Sure does...I have been monitoring this and it is definitely the talk of the town it will take about 18 months to flow through in a bug way...but it is finally happening.....

 

7 Major Projects Shaping Brisbane as Australia's New World City

 

Yes a good post...people under estimate the amount infrastructure going into Brisbane.

Bur more importantly the number of people moving to Qld is second only to Victoria. Most are going to the Gold Coast and Brisbane.

 

Very interesting...it looks like Sydney is playing a large scale correction......the magnitude has surprised even myself.......

 

Sash, how much further do you think it’s got to go in syd and melb?