What stopped the previous Sydney booms

Discussion in 'Property Market Economics' started by mickyyyy, 26th Mar, 2018.

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  1. mickyyyy

    mickyyyy Well-Known Member

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    Hi All,

    I'm looking back in time and trying to understand what made Sydney boom start but more so end the boom, as I personally believe history repeats itself to a certain degree.

    Interested to hear why the previous 2000's and 1990's boom stopped and compare to current boom

    Would love to hear from @MTR @sash @skater @See Change
     
  2. NG.

    NG. Well-Known Member

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    good thread for discussion. be good to see what the old timers post!
     
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  3. datto

    datto Well-Known Member

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    Oi. Enough of that cheek.

    The 2003 boom I'd say was stopped by rising interest rates and unemployment.

    The 1990s boom was stopped by Keating's "recession we had to have". You got to love Keating..."get a job you bum"....a PM with a chip on his shoulder you'd swear he grew up in the Dtuitt.
     
  4. Biz

    Biz Well-Known Member

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    Rising rates slowed it, vendor duty of 2% on all property sales killed it off completely.
     
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  5. sash

    sash Well-Known Member

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    Well....from my perspective...when the trolls go to ground and not many people have a go at me that the Sydney market is done...the boom has ended. We have just crossed that bridge.....

    The signs were there as far back as early 2016..but it takes 2-3 years to work its way through. By end of next year...it will be very evident.

    The bargains will be there between 2019 thru 2020.....at the same time watch Brissie..as Sydney comes off...Brissie will take off...2019-2020 it will be very evident for that market...as investors in Sydney move North..
     
  6. NG.

    NG. Well-Known Member

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    Sash - agree with you, as long as lenders loosen up too allowing us to further gear up
     
  7. mickyyyy

    mickyyyy Well-Known Member

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    Thanks for joining bud and apologies I didn't think of you

    Druie rocks :)
     
    Last edited: 26th Mar, 2018
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  8. mickyyyy

    mickyyyy Well-Known Member

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    Sash I agree with you somewhat but looking at previous booms of 1990's and 2000's and what stopped them in your view
     
    Last edited: 26th Mar, 2018
  9. sash

    sash Well-Known Member

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    Mate from what I hear....you let a ripper and it cleared out the Druie..and sent the property market into a tail spin in the 1990s.....apparently you took the "bum" part on "get a job you bum"...to mean "let a job from your bum" :p:D
     
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  10. skater

    skater Well-Known Member

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    This!

    People are like sheep! A few brave souls start doing something, and others slowly join in, then more & more & more.....until one day some stands up & say NO, then it slowly reverts, until next time.
     
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  11. skater

    skater Well-Known Member

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    Oh Sash, that's terrible! All Class, or what?
     
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  12. icic

    icic Well-Known Member

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    I really think its just part of the market cycle. Prices were becoming completely out of whack with salary income and rent. So rate rise and duties were just the pins that popped the bubble a little earlier than otherwise would naturally. It will take time for the general population to have the salary and rent to catch up to have another boom from now.
     
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  13. icic

    icic Well-Known Member

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    I am also suspecting that it is psychological thing as well. I have fair bit financial interest in the Sydney boom and were stoked to see some of my assets going up by 30-50% a year after waiting for a few years. But after a few years, parts of me wants it to stop because it is not sustainable and we as a society will be worst off if it keeps going like this. Maybe this is because I am a father of two young kids.
     
  14. mickyyyy

    mickyyyy Well-Known Member

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    I heard that also and dropped prices as well
     
  15. sash

    sash Well-Known Member

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    Yes all class... @datto he ist ridgey didge.... that is why is is a Bogaire....
     
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  16. skater

    skater Well-Known Member

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    Sorry Sash, but you sound more of a Boganaire than @datto
     
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  17. sash

    sash Well-Known Member

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    That is the ultimate compliment...now I have to watch out as @datto might get jealous and thong moi....look at me ...look at me.....
     
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  18. Rozz

    Rozz Well-Known Member

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    Sydneysiders have been buying in Brissie in their numbers ever since I bought my first GC property in 2013. If people wait till 2020 there'll be no Sydney buyers left to keep pushing up them prices :p

    In fact buying now is probably already too late to make any decent CG unless prepared to wait many years again
     
  19. babyboomer1

    babyboomer1 Well-Known Member

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    Dont forget along with the rising rates the ill-fated plan Home Fund to sell to housing commission tenants
     
  20. mickyyyy

    mickyyyy Well-Known Member

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    What signs did you see in 2016? I agree with 2019-2020 if not longer in other suburbs...
     
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