Sydney - the coming correction 2018-2022

I too read Phil Anderson, quite like his work.

 

Since Jeddah Tower will be completed in 2021 (Jeddah Tower - Wikipedia), does Phil Anderson indicates that the world will be in global recession around that year?

 

Considering 12% to 15% has gone down already, you predict 20% to 30% more?

Considering a 100 dollar property became 180 and then dropped 35% (based on your estimates), the current value after the drop will only be 117. So net 17% increase over last 1.5 cycle or effective 63% drop on original price.

I do not think that is sustainable. Or anything above 22% to 25% overall is sustainable.

What I have read and felt is that the boom started from western suburbs and easter burbs started a bit late. Hence running a little behind western burbs. Can that explain the delay? Ofcourse time will tell the rest.

Regards

 

My maths probably not too good but i can envisage a 40% drop from peak to bottom in quite a few areas. Still a few years of drops them a few years flat.

 

Northern Beaches up over 1% for the Quarter. The only area in NSW in positive territory. Possible sign of flattening out?


2014 cla 250 0 60

 

Or perhaps a seasonal variation due to weather. It has been glorious conditions of late

 

What downturn?

A housing commission house 700m from Seven Hills Station sold for $732,000 on the weekend.

14 Williamson Avenue, Seven Hills, NSW 2147

 

A number of indian bidders drove that one high

 

Where were all the cowboys and cowgirls?

 

They have not idea what pain they are in for...that is ridiculous...there are markets closer in where you could almost buy for that...and they are better areas.

The only reason they paid more is because it is walk to station.

They will only find out when they go to sell.

 

I agree with you as plots to live in, though this one is a level 695m2 block with massive side access ways, they definitely didn’t buy it for a reno+live unless they want to activate the upside.

 

Well
One thing Indians love is large parcel of land and apparently, for some, second love is subdivision.

Even if they dont know nothing about it.
But learning on the job is a good technique.

 

Oh thanks for that - was wondering what it went for! My PPOR is closer to the station than that one and nearly as big the land - mine is 651 sqm. I feel a bit cheerier about its value now (although, mine is much posher, being clad with plastic!)

 

Nahhh stupid buyer. Building new house with another 700k on it won’t make the value now. Its a big lost for them now.

He seems like paid 2017 price.

 

Mid to late 2020 was my intended time to get into Sydney, looks like this works well if we follow Sashonomics .

 

Yep....maybe quicker if both labor and LNP introduce money for deposits at 5%!

 

Have read a few stories recently that the down turn has stopped/slowing down possibly indicating the bottom

 

Downturn slowed down as election time slows down everything as policies unclear and everyone is just sitting on the sidelines waiting for clearer direction.

IMHO further spike in selling and downside especially if labor wins big time.

 

Good point, agree