NSW When to buy in Sydney again

I love Sydney nah -my work , family all here.

 

With a correction, median homes around Carlingford might drop from 1.5+ to 1.3. I can't see it dropping past that. Land is scarce. But don't purchase anything affected by powerlines etc. not worth it over the long run, more difficult to sell etc.

 

Thanks for the tip Gockie.

Getting a high pay job is the number one priority so that I can use the equity and increase my serviceability but Rome was not built in a day so I am thinking positive and now will look into Beecroft and WPH too.

 

If you have daughter/s, people like to buy into the Cheltenham girls catchment area. However the catchment area had been shrinking bit by bit over the past few years.

Otherwise Cherrybrook Technology is a well regarded school. (Its the biggest high school in NSW from memory). But then again, most of the schools up this way tend to be pretty well regarded.

For houses, Beecroft is not cheap. West Pennant Hills - feel free to have a look but it may or may not have easy access to public transport.

The train line to the north west should open in 2019 if everything goes to plan, which will hopefully make it easier for people living in Cherrybrook and further west/northwest to access a lot of jobs. Would be good to be within a 10-20 minute walk to the rail.

 

I git a baby boy, will checkout the Cherrybrook Technology school area. We are not in rush as still few yers to ho but need to plan and arrange the finance.

Have you heard about the new Luddenham Technology Park and new schools?(I know totally different direction but aparently Hospitals also signed some agreement for research purposes and the tech park is going to be no. 1 in Aust etc.)

 

Luddenham - I have no idea, because it's not my local area. Others will know though.

 

dailytelegraph

Interesting article about many suburbs in Sydney tumbling by up to 20ish percent - interested to hear from other investors with IP in Sydney what they're seeing. Frankly haven't seen rents tumbling in Lidcombe (I keep an eye here due) and in many cases you can much more in the private rental market (must DD though to avoid undesirable tenants) at least when comparing this year vs last year.

 

Never . Most overrated city in Australia. Lived in the best suburbs Bondi, Bellvue Hill ,Narrabeen ,
Double bay for 30 years. Dissjointed cold fraktured city . Brisbane and Melbourne leave Sydney for dead. You can go to the Oaks in Neutral bay for a beer. Whoopy

 

Couldn't disagree with you more.
Although moving your whole life after so many years I say there is Alot more to the story.

Although most expensive suburbs are ot nnecessarily the best.

We moved FROM Double Bay to Lilli Pilli and it was the best move.

Sydney is so large that you can have many different communities and lifestyles.

 

I was always a huge Sydney supporter, some parts were the best place in Australia in my view but that has actually changed. Even the expensive areas are losing their shine for me. You certainly need to be at a certain level to be able to properly enjoy the true Sydney experience otherwise you're probably living a life that can be duplicated elsewhere.

The seemingly unending growth in Sydney that has obviously delivered a lot of wealth for home owners, has come at the price of damaging some of what made Sydney special in the first place. I can understand now why people leave whereas I couldn't before. In fact I always said I would never leave but if my job didn't have me hooked into Sydney I would go.

Still, this won't be the case for everyone. Some people love a true big city and the way Sydney is developing and without doubt there will be plenty of people wanting to move here from other more dense cities so the future is bright for Sydney as long as you are generally well off and like that lifestyle. Bright for property investors too!

 

It's a good point. In a way we're only here because we have been here our whole lives, all our family and friends are here. indeed, minus the friends and family we could have the same life somewhere else at half the cost now so I'm not sure what would compell a family to migrate to Sydney these days.

 

If it were not for
the business opportunities
Port hacking water ways
National park
Harbour
Live events
Easy international and national travel
Multicultural community
endless coast line
Friends
Family
Employment opportunities

And a lot of other reasons

I would look elsewhere.
But hence the price.
This is the reason im in Sydney and love it.

 

100%

I think the reason why a lot of people are staying here is because they have grown up in Sydney. If you are a young person in an average job, you can definitely get more bang for your buck in Brisbane or even Melbourne.

Definitely need to have property and a decent level of wealth to really enjoy Sydney (or really any other international city, which is what Sydney is, for that matter).

 

I don’t think this is the case. And if it is, are we implying that this who have been in Australia longer is not competitive enough that they get pushed out by newcomers?

 

I used to love Sydney. Had a thriving business on Bondi beach. Lived at Bellevue Hill Owned property in Sydney since 1978. Lived on the lake at Narrabeen for 15 years. Watched my house on Narrabeen nearly quadruple in the late seventies. Now that is what you call a real boom. I used to think Sydney was one of the best cities in the world in the 70's and 80's.
Not anymore. Cold ,fractured, unfriendly., Impossible to get around. massive parking fees. Nobody ever makes eye contact with you and gives you a nod. Way too much immigration. Think it is around 400 k a year with many going to Sydney. Joke.
If you think having 60% of some suburbs being the same ethnic group as being multicultural then that is your choice.
Melbourne and Brisbane are far more liveable than Sydney. Melbourne and Brisbane both have a heart. Sydney is heartless like LA.
But then again if you have lived in Sydney for 40 years and never lived anywhere else then you probably think Sydney is ok.

 

Sydneys net Migration is probably lower than Melbournes with African gangs running around certain suburbs.

Your opinion on Sydney is very insular much like Narrabeen which is basically 100% Anglo.

Your assumption about. Migration is also showing ignorance.
Feel FREE to go. Live in Melbourne grass is greener.

 

The first two auction results in Feb show no signs of crash. Auction rate is lower than last year but still hovering around a healthy level unless the interest rate hikes, we are still distant from a crash or even a correction if that means a 10 percent drop. Apartments and some B grade properties are less promising but I would rather call this a normal market than a downturn. Who knows what's next but one thing know for sure is there is less speculation that boom times.
If there is a bargain, you would need to wait until 2020, like last cycle, Sydney actually bottomed in 2012 which is 3/4 years post GFC...Property market doesn't give anything an immediate response.

What do you reckon @sash ?

 

In some markets/property types...properties are not moving...I know someone who built double storey 1 garage 4 brm/2brm T/H style houses in Schofield who has the product on the market for over 2 months...no bites.

Price was 850k...now thinking of reducing to 770k....bought for 670k...so not much profit.

 

Post the link. I have workmates who just bought in Schofields. I will gladly show them this link as there is another person looking there. If the price dropped by that much I think he will buy it.

Unless your making it up.

 

First home buyers can expect an even tougher battle to get into the market

Schofields was added in recently....Wentworth Point is on it! People are playing with fire if the bank wants 30% and then to get the vals through

As for posting Schofields look at it up...you can figure it out...

Not this one...here are a couple....
31 Frederick Jones Crescent Schofields NSW 2762 - House for Sale #126999034 - realestate.com.au

Schofields address available on request - House for Sale #127465338 - realestate.com.au