NSW Winston Hills / Baulkham hills

100% , could have achieved 70-80k lower, similar to 31 Tamboura, stay on the market for long and price decay 30-40k per month

 

Why is Baulkham Hills falling so hard and so fast? Much harder and faster than other suburbs which aren’t close as good as BH.

 

Thats not cheap for a 3 bedder of that quality. Very strong price.

 

Demographic buying spooked.

Same happening in Castle Hill...Cherrybrook ..Kellyville.

Expect up to 30% falls..... But Alice in wonderland falls will be places like box hill ..Marsden park...even Schofield's...you may see 40%.

 

Really? That bad? I’m from a generation who haven’t seen property going down so it will be very interesting for me. Kicking myself for not jumping for upgrade in 2020 so patiently waiting to enter at the right time. I live in Marsden Park btw in a town house.

 

All depends what you bought it for. If you are one who picked up a 500sqm block for 575k ...paid 25k stamps legals/legals and built a 32 sq 4x2x2 fully complete for say 575k and paid 25k interest.

Then house owes you $1.2m. It was probably worth 1.7m at peak so even if it drops 25% you are good.

Good to see if feel that the market can come off others are playing ostrich and sticking their head in the sand.

 

Well, I am not that one. I bought a small townhouse 3BR for $600k on 200sqm land. That’s all I could afford in 2016 when I bought. I only arrived Australia 6 months before my purchase and was 25 years back then with no financial support. Just wanted to enter the market. Glad I did. Yup big land and house would have paid better but lack of direction, research and funds

 

lol.. Hardly anything in BH has gone that low until the past few weeks, barring main road sales and sub divided properties on <400sqm blocks. Keep that spin doctoring going.

https://www.realestate.com.au/sold/...am+hills,+nsw+2153/list-1?activeSort=solddate

 

It doesnt matter how much it drops anyway. All the jokers on here waiting to buy the "dip" wont buy during the dip. LOL

Seen it once, seen it twice, seen it three times - never changes. Once a fence sitter always a fence sitter.

The best time to buy was when you first thought about buying 10+, 20+ years ago.

 

At that price ya got nutin to worry about.... simply keep paying it down...your mortgage is probably low. Just keep cash handy incase your job situation changes.

Look to get in around mid to late next year... plenty of places will be around $1m for houses in places like Marsden Park. Happened during 2017-2019 also....

You could probably keep the t/H also...just pull as much equity out... depends on your income....

 

Yes mate..... he is getting offers from the Chinese Ministry of Information....

The drops is getting stronger and stronger.... @ParraEels data is spot on. No amount of spin can counter that... before it was hard.. but now there is data to back it up.

 

Patience grasshopper do not believe "empty vessels" as the Wozzer (aka Warren Buffet) says " Time transfers money from the impatient to the patient".

 

Thanks Sash

 

Exactly my plan. Equity already withdrawn to the max and cash parked in the offset.

 

Sage move...

This is next thing which the banks will crack down on ... if you think it is bad now ...you ain't seen nutin'.....

Also keep it across 2 banks.......

 

Keep across 2 banks? You mean the drawdown Equity? I’m offsetting interest from that. What’s the idea behind keeping it in 2 banks?

 

Just to be safe... call me paranoid... but during COVID I pulled some money (300k) and put it into a bank where I had not loans and had the Fed guarantee...

 

Bank run is possible during liquidity crisis. We are not there yet but it is possible...

 

Very very remote in OZ ...but hey who knoz.....no way a Big 4 can fall.... it would be catastrophic!!

 

yeah i dont see even the most grizzly of bears suggesting that. hopefully not, it would be horrible