NSW Tipping point in Sydney ??

Discussion in 'Where to Buy' started by See Change, 13th Jul, 2015.

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  1. sash

    sash Well-Known Member

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    Nope ...maybe Specufesters....but the real investors are in Brissie and Outer Melbourne.....

    I think the banks will clip the wings of Sydney investors...but take softer stance in Brissie and outer Melbourne....

     
    sash, 13th Jul, 2015
    #21
  2. datto

    datto Well-Known Member

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    The Druitt is still hot. So hot in fact that my *** is burning! Gidde up Boganville!
     
    datto, 13th Jul, 2015
    #22
  3. Tekoz

    Tekoz Well-Known Member

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    @datto: is that true or you're just joking mate :eek: ?
     
    Tekoz, 13th Jul, 2015
    #23
  4. C-mac

    C-mac Well-Known Member

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    If lenders going postcode-selective on mortgages for investors doesnt scare the pants off of Sydney wannabe-investors who blindly want to jump in to that market right noow at peak, then I dont know what will.
     
    C-mac, 13th Jul, 2015
    #24
  5. OC1

    OC1 Well-Known Member

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    The REAL investors?? :rolleyes:
     
    OC1, 13th Jul, 2015
    #25
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  6. skater

    skater Well-Known Member

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    I'll disagree with you on this. I've been watching the market very closely and there is a distinct drop in numbers.

    We had our first open for a property in Tregear, on Saturday, and while there were several parties that turned up, the numbers were nothing like we've seen a couple of months ago.

    While we did get a signed contract, I won't go into details until it's unconditional.

    There are still buyers willing to spend, but their numbers are down.
     
    skater, 14th Jul, 2015
    #26
  7. Tekoz

    Tekoz Well-Known Member

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    @skater is this in Mt. Druitt or Western Sydney area that you mean ?
    Maybe that's the case there, if you go to the Asian suburbs like Eastwood, Epping, Hurstville, Campsie, Ashfield, Parramatta and Burwood, people still lining up like crazy during the open house or even placing deposit for OTP apartments/town house.
     
    Tekoz, 14th Jul, 2015
    #27
  8. Chilliblue

    Chilliblue Well-Known Member

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    There is also a drop happening in Epping and some of its surrounding suburbs. Some types of property are still in demand but there is a clear and noticeable reduction of interest.

     
    Chilliblue, 14th Jul, 2015
    #28
  9. skater

    skater Well-Known Member

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    My post was in reply to Datto on my observation in the Mount Druitt suburbs, which are located in Western Sydney, and has absolutely nothing to do with any of the suburbs you mention.
     
    skater, 14th Jul, 2015
    #29
  10. 380

    380 Well-Known Member

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    I dont know what will be THE factor that will tip Sydney market.

    This is my take on it.

    Suburb that hit $ 1.5M+ will see slow activity..thanks to APRA changes on big4

    Employment figures are strong.. But most new job rolls are "on contract bases".

    Both above factors will have much impact on property market over time.
     
    Last edited: 14th Jul, 2015
    380, 14th Jul, 2015
    #30
  11. sash

    sash Well-Known Member

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    :):rolleyes:Yeah...yeah...mon.....what be happening to the Chinese stock market..any chance some might have had margin loans....maybe need to sell their OZ property...watch the leader of the Wilde Beast..if the leader runs in one direction.....then other follow.....time will tell.

    The smart Chinese investors have already pulled their money out and it is in $US in Western Banks...see the picture.

     
    sash, 14th Jul, 2015
    #31
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  12. sash

    sash Well-Known Member

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    :D:pNo true....he is dead a cert Bogan!

     
    sash, 14th Jul, 2015
    #32
  13. RetireRich101

    RetireRich101 Well-Known Member

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    This, in my view would be a biggest gotcha in the OTP space. They are required to pay a 10% deposit on the OTP. Meanwhile in their home front, their margin calls and all the funds are soaked up.. fast track 18 months when their OTP is ready to settle. They have no funds, which likely they will just walk away on their deposit.

    Asian are a big player in margin loans, so as in casinos don't forget.
     
    RetireRich101, 14th Jul, 2015
    #33
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  14. Tekoz

    Tekoz Well-Known Member

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    @RetireRich101: How can you be so sure mate ? some Asian people who's very rich always pay cash or have little LVR, so it may not be a problem for them.

    Even just losing the 10% deposit it's just a small money to them. Now what happens when those OTP project who bought mostly by Investors gets abandoned all in a sudden ?

    I've seen many small or unknown developers now building and marketing OTP units in various area like: Campsie, Dulwich Hills, Burwood, Chester Hills and many more...
     
    Tekoz, 14th Jul, 2015
    #34
  15. sash

    sash Well-Known Member

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    sash, 14th Jul, 2015
    #35
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  16. RetireRich101

    RetireRich101 Well-Known Member

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    10% deposit is small amount, so as rest of 90% in a booming share market when they're all cashed up. I am really talking about foreign OTP buyer who would be paying cash balance rest of the 90%...where would this fund come from if their share market wiped off trillion of dollars.
     
    RetireRich101, 15th Jul, 2015
    #36
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  17. Tekoz

    Tekoz Well-Known Member

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    Well, I guess, they're just forfeit the deposit and the developer just put back the property back to the market with higher price. If that is the case then what would happens ?

    Yes, meaning do not buy the products for sure.
     
    Tekoz, 15th Jul, 2015
    #37
  18. WinDyz.

    WinDyz. Well-Known Member

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    WinDyz., 15th Jul, 2015
    #38
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  19. Phar Lap

    Phar Lap Well-Known Member

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    Isnt it the middle of Winter?

    Traditionally a drop off in buyer interest.

    If rates stay low or drop then the resultant interest will match up again.
     
    Phar Lap, 15th Jul, 2015
    #39
  20. beachgurl

    beachgurl Well-Known Member

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    I've seen a small slowdown in my suburb. Good properties are still selling very quickly but vendors are now asking 800k for an unrenovated house in Greystanes. A few of these properties have been sitting on the market for a couple of weeks now which is a long time in this market.
     
    beachgurl, 15th Jul, 2015
    #40
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