Where are the crashing markets in Sydney?

No, sorry Ladies, but the word "Crash" is banned.

 

Corrections and deflation are fine

in fact, welcomed

 

We'll see.

 

Not too crash hot on your terminology .

 

Not sure about other markets but looking at Cherrybrook it is overall stable even though a lot of vendors are forced to reduce their sell price, if their property is not attractive (e.g. near major power lines, main roads, old, termite infested etc). Those tend to suffer the most as no one bids them at all.

The ones that is attractive and is in CTHS school zone is still being bought by owner occupiers quickly as even when the market is down, they still need to get their kids to their preferred school.

For my IP at Schofields, there are tons of them available for rent, and will be even more coming. My rent has gone down slightly from 2 years ago, but my current tenant is good. Unfortunately he refused to sign another lease so now it is on periodic lease. If he leaves I think I would need to lower my rent again to get another tenant but I am good as I bought my place at 2014 so does have some equity on it, and it doesn't cost me much to hold it at all after all the expenses.

 

I've noticed this in quite a few markets, that is, the least desirably located properties get hit first.

 

Was reading back over all the doom and forever gloom in this thread. The usual Japan, Dublin etc comparisons were thrown into the mix. It's hilarious.

2019 and many markets in Sydney and Melbourne are booming.

I had conversations with a few folks in 2018 asking my opinion to buy or not. I told them buy if it suits your risk profile and goals. It's a great time. Buy. They held out thinking markets will drop more. They never bought some great deals.

Ouch.

 

allot have gone awfully quiet, some even gave specific numbers,

 

Too busy taking some profits in NSW and VIC.

This is not going to last forever..... hope it will hold till I get the best prices on mine.

At the same time re-purposing to other markets...Sydney/Melbourne are nuts....

 

Thanks Sash,

Sash, are you expecting another downward correction in Sydney and Melbourne house prices? And if so, what would be the catalyst for said correction?

I know that portfolios are complicated, and people have many good reasons for liquidating assets. However my question is: are you taking money off the table in Sydney because you think it is over-valued, or because you need the cash?

 

I am not selling in Sydney yet...prices have moved a lot more in Melbourne...taking some profit...mostly on stuff which will require more maintenance. Also selling one near Newcastle. One needs to take cash off the table.

Might even get one in Sydney.v with funds ....issue I have is my offsets are almost all full...till my fixed rates come in late 2020. Don't need the money at the moment. Will hit over 500k Rents shortly

The real issue is the economy....let's see what that does to the market

 

wish i had that "issue" ! haha

 

How will the bushfires affect property prices in affected areas?

it will be a boom for Builders and trades which will attract people to the areas for work.

 

I take zero notice of Sideline Investors with no money in the game. They are great at posting all kinds of stats but not so great at actually building any wealth.

There are also 1 or 2 people on here who love to swing all ways, so they never have to admit they called it wrong . They are more concerned with their so-called 'image' than actually having any sort of genuine perspective . They endlessly flip flop and when questioned, they immediately ridicule others and go on the offensive. I think they're quite transparent to all.

As for me, I've always said the same thing. Invest according to your goals, risk tolerance and financial situation. If any deal meets those criteria, then it's as good a time as any to buy. Regardless of what anyone is saying.

 

A month ago went for an auction at Sydney western suburb. 21 groups came, 16 registered bidders, only one active bidder. Now days people attending auction doesn’t make sense too. Just Realestate agents marketing to bring inactive people for auction.

 

People who are buying now are not buying on fundamentals.

As said previously said...taking profits is a smart thing to do based on your overall portfolio...I don't have the time to wait another 10 years....

 

I started this thread on 31st, Aug, 2018. I wasn't seeing the massive crashes folks were predicting and instead I was posting the gains markets had started to make and i was pointing out great buying opportunities. I was buying for myself and helped a few friends purchase. I was saying this cycle would basically be business as usual. No one could foresee Covid but so what? Even Covid couldn't mess with markets eventually getting back to their usual ebbs and flows, corrections and booms. And sometimes mega booms.

As we all now know, markets are absolutely booming in Australia. Even the blue chip suburbs some said would be smashed due to folks buying "based on no fundamentals" - are now insanely booming! Really? No fundamentals? History has now clearly proven otherwise.

Hopefully this thread has now taught a few folks who posted in it to never be so unequivocally certain of their viewpoint to the extent where arrogance takes over and they ridicule others who have a different opinion.