This Housing Downturn is Over

But Martin North is. Speaks to his credibility I'd say.

 

I sometimes wonder whether you can read .

So I will say it again:

To help your comprehension, I will word it differently:

Look at buying somewhere else in Australia (that is, outside of Sydney).​

 

So many assumptions, mate. All wrong.

 

Hi Kierank, I agree don't limit yourself to Sydney (though that would be an excellent strategy and has worked for me). But if you have a time horizon of 10 years or more, you should limit yourself to the capital cities, and if possible the three on the eastern seaboard.

 

Then back your thesis and don't buy and move on.

 

I am. I'm still educating myself in different point of views in the mean time.

 

"Flood of wealthy Hong Kong residents hopeful of buying Australian property"
Flood of wealthy Hong Kong residents hopeful of buying Australian property

 

Totally agree.

I have only ever bought property in Melbourne and Brisbane (including the Gold Coast). The only exception to this was in 2017, I bought my parents’ home in Toowoomba (they owned in for 45 years, I knew its history and the price was right).

We did look at Sydney 15 to 20 years ago but thought it was too expensive.

What a mistake that was!!!!

 

Ha! I am sure that there is a message in there somewhere. Well done to you either way.

 

Amongst all the rubbish being posted in this thread, this is actually a good piece of advice imho. I wouldn't say never deviate from that advice as I know ppl who made a lot of money on the western side and offloaded at a great time. But generally I think that's good advice.

 

Yep.

We bought a 4/2/2 in Runcorn in 2003 and another in Wynnum West in 2004.

Both have always rented easily and both are now debt free.

Some will say we were lucky but I know otherwise ...

 

It's starting to read like the AusFinance sub on Reddit.
- The sky is falling
- Boomers vs Millennial generational conflict
- Property is X times above annual income
- Victimhood politics
- BEARS!

 

Not really.. sky looks good. Just a prospective purchaser raising valid points and being shouted down by the mob... BuY BUY BUY

 

Nah, it is I believe some PC members confuse the Sydney market as being THE Australian market.

 

I think he'd prefer it to read like... "you're a big property investor, no you're a big property investor".

If anyone wants to get back to economics, more than happy to.

 

You must be a great dad and grandfather mate. Don't know how you have the patience for such utter nonsense.

 

Dementia mate .

I just haven’t worked out if it is me or them .

 

Both!

But at least you'll be able to afford top care!

 

Spot on mate. I couldn’t believe he now calls
Corelogic data a lie after using it for so long.

I tried to find out what he invests in, asked him the question but he never responded. He did say in his last show that’s he’s been holding cash for some time. In the same show a viewer told him to buy 2 new shirts, that cracked me up. Dudes been wearing the same 2 shirts for years.

 

Downturn in Syd is well and truly over.

The best deals were Dec-May 2019
- City wide Median down ~ 15%
- Specific suburbs down ~ 22%
- Specific props / bargain deal down ~40%

Since May 2019 end:
- City wide Median is up ~ 1%
- Specific suburbs up ~ 5%
- Specific props / bargain deals up ~15%

For the data analysts look at some bargain past sales in that Dec-May19 period and try find a similar one now.

Now the general media is consistently reporting the positive news (compared to last year - who recalls the 40% crash 60 minutes episode etc) and general sentiment is changing. Much more competition on the ground now and money flowing. There may be some good deals but the absolute bargains are gone in many syd regions..

Next great bargain buying opportunity will be at least a few years away...
The last absolute bargain time in inner syd was late 2008-mid 2009. For other regions late 2011-2012 ... Happy hunting