if someone can show you a credible alternative, then listen.
otherwise, don't.
Yep. There is still the issue of supply/demand in Australia that makes it different to the UK bubble
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if someone can show you a credible alternative, then listen.
otherwise, don't.
I am thinking about purchasing an additional IP, however for some reason I listened to some of the negative people I know.
This lead me to some simple google searches which all seem to think that the Sydney property market is in for a major crash, possibly 30 to 50%.
I know that no economist has a crystal ball but I was wondering what some of the more advanced investors on this forum think.
Would you continue to buy in the Sydney market, would you wait for this so called crash???
I was looking to spend around 350k on a house in St Marys.
Thanks in advance for your opinions.
Out of curiosity, Is ur current IP in Sydney ?
if someone can show you a credible alternative, then listen.
otherwise, don't.
If anything drops in Sydney I'll be standing by with 1mil cash to buy up. But...so will about 1 million other people I know.
Demand in Sydney is just so strong and so stable. It's a gorgeous city. The whole world wants to live here.
I think the only time property actually depreciated seriously was during WWII when there were grave fears over a real Japanese invasion; subs were spotted between the heads and a sub came into Sydney harbour.
A few extremely clever people bought extremely cheap houses in Dover Heights and Vaucluse as these suburbs dropped for a few years...
So -- if there's a geopolicital event comparable to this, or to the Holocaust, or...mass executions in Martin Place then yeah maybe property will go down...stand by.
i think we are getting close to the peak in Sydney and prices will start to plateau by end of year...
The London boat had sailed away in 2011, when AUD was high and London prices were low.
Do your own research and don't listen to the 'noise' from those who have no idea.I am thinking about purchasing an additional IP, however for some reason I listened to some of the negative people I know.
This lead me to some simple google searches which all seem to think that the Sydney property market is in for a major crash, possibly 30 to 50%.
I know that no economist has a crystal ball but I was wondering what some of the more advanced investors on this forum think.
Would you continue to buy in the Sydney market, would you wait for this so called crash???
I was looking to spend around 350k on a house in St Marys.
I disagree! I feel there's still some room in this current market, however expect rents to soften some more.Buying now on St Mary's is buying pretty close to the top of the market. Personally I would wait....I of the belief that IR rates will head up towrards the end of this year.
For example your house in St Mary's would have sold in 2012 for about $280k..it now sells for $350k. That is is about a 25% increase. When rates go back up it will probably drop down to about 320-330k. That is how the real market works. That means a 6% to 8% drop at mosr.
I disagree! I feel there's still some room in this current market, however expect rents to soften some more.
Agree with sash. It appears the Sydney boom is over and coming to an end. Rates will start to rise soon which will soften the market and there will be a pullback. This article thinks prices have peaked and property price growth has slowed.
http://smh.domain.com.au/real-estat...oom-appears-to-have-ended-20140423-374in.html
Agree with sash. It appears the Sydney boom is over and coming to an end. Rates will start to rise soon which will soften the market and there will be a pullback. This article thinks prices have peaked and property price growth has slowed.
http://smh.domain.com.au/real-estat...oom-appears-to-have-ended-20140423-374in.html
If you are looking for a PPOR in sydney I'd keep on looking . If you're looking for an investment I'd look elsewhere ( we did ) .
Cliff
You need to learn not to read the article & do your own DD....
...Sydney is NOT one big market, but markets within markets.