Will the Sydney median house price reach $1 million by the end of 2015?

Discussion in 'Property Market Economics' started by Shadow, 25th Jun, 2015.

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Will the Sydney median house price hit $1 million this year?

  1. Yes

    50 vote(s)
    83.3%

  2. No

    10 vote(s)
    16.7%
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  1. Tekoz

    Tekoz Well-Known Member

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    @barnes: how did you know and on what basis ?
    Is it because:

    1. APRA has tightening he screw on the lending criteria
    2. Bank has increased some Interest Rate due to Number #1 above
    3. Many retail shops are closing down & down sizing ?
    4. ... what else... Australian GDP is lowering with no salary increase yet.
     
    Tekoz, 27th Jul, 2015
    #21
  2. Phar Lap

    Phar Lap Well-Known Member

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    Dont people know property doubles every 7-10 years ?
    There's proof!
     
    Phar Lap, 27th Jul, 2015
    #22
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  3. Tekoz

    Tekoz Well-Known Member

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    @Phar Lap I thought that's just the prorperty spruikers saying that :D...

    now, it is time to wait and see the current Off The Plan units in Parramatta and House & Land package in Sydney Northwest area to double after 10 years.

    because it is already expensive for now.:cool:.
     
    Tekoz, 27th Jul, 2015
    #23
  4. Phar Lap

    Phar Lap Well-Known Member

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    Ask Jan Somers, she told me.
    Cant dispute the facts.
    Well located property will double every 7-10 yrs.
    2025 Syd median to be $2m

    You watch.;)
     
    Phar Lap, 27th Jul, 2015
    #24
  5. Shadow

    Shadow Well-Known Member

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    Shadow, 3rd Aug, 2015
    #25
    wombat777 likes this.
  6. Guest

    Guest Guest

    Congrats RBA. You did it!

    [​IMG]
     
    Guest, 3rd Aug, 2015
    #26
    Tekoz likes this.
  7. Shadow

    Shadow Well-Known Member

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    Shadow, 3rd Aug, 2015
    #27
  8. MichaelW

    MichaelW Well-Known Member

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    Hey Hobo,

    The only question now is whether it keeps running to that $1.2M mark or takes a breath shortly around the current $1M mark...

    Interesting times.

    Cheers,
    Michael
     
    Last edited by a moderator: 10th Oct, 2021
    MichaelW, 3rd Aug, 2015
    #28
  9. MTR

    MTR Well-Known Member

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    Not yet, may go over $1m ??:eek:
     
    MTR, 4th Aug, 2015
    #29
  10. barnes

    barnes Well-Known Member

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    Don't think so. At least not for long. It's like in Forex, whenever you see a spike of price like that, it falls back and hard. I have seen it a lot of times.
     
    barnes, 5th Aug, 2015
    #30
  11. ej89

    ej89 Well-Known Member

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    It was just as expensive back in the last boom for people comparing it to others and it still doubled... Houses way more expensive than these doubled also...just cause it's "expensive" it doesn't mean it won't double again...like it has, over and over again
     
    ej89, 16th Aug, 2015
    #31
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  12. Perky29

    Perky29 Well-Known Member

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    It will double from 2019 to 2025 :)
     
    Perky29, 16th Aug, 2015
    #32
  13. Shadow

    Shadow Well-Known Member

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    Shadow, 31st Aug, 2015
    #33
    Tekoz likes this.
  14. Tekoz

    Tekoz Well-Known Member

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    Assuming after November this year FIRB cracks down the illegally bought property with the falling stock market in China

    that's still not helping the normal average Joe & Joneses able to own a property here in Sydney ?

    perhaps interest rate increase can correct the property price in certain suburbs so that it may be affordable in Sydney.
     
    Tekoz, 31st Aug, 2015
    #34
  15. THX

    THX Well-Known Member

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    Wrong as usual barnes.
     
    THX, 31st Aug, 2015
    #35
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  16. Waterboy

    Waterboy Well-Known Member

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    The $400k difference between Sydney and next-ranked Melbourne is jaw-dropping. :eek:
     
    Waterboy, 31st Aug, 2015
    #36
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  17. Waterboy

    Waterboy Well-Known Member

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    Indeed! :D
     
    Waterboy, 31st Aug, 2015
    #37
  18. Waterboy

    Waterboy Well-Known Member

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    How does a rate rise make it more "affordable"?

    Those with deeper pockets will out-bid the FHBs.
     
    Waterboy, 31st Aug, 2015
    #38
  19. Waterboy

    Waterboy Well-Known Member

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    Forex and houses -- same banana? Lol
     
    Waterboy, 31st Aug, 2015
    #39
  20. Tekoz

    Tekoz Well-Known Member

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    Rate rise would means slower housing market movement and some people in distress would sell.

    So I guess it is the right time to buy.
     
    Tekoz, 31st Aug, 2015
    #40
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