How much steam does Sydney have left?

[Ausprop]

Yup I agree with the conservative forecast of 8-10% more growth for Sydney this calendar year. Though Sydney remains the economic powerhouse for Australia in these times of an otherwise gloomy economic outlook nationally, it cannot continue to carry the country's slack much longer whilst still seeing ridiculous 20%+ gains.

isn't that the wrong way round? the gains are fuelling the 'economic powerhouse' (?)...so may be able to carry the country's slack as long as the gains continue.

I saw some headline about fridge sales replacing the mining boom. Buying imported consumer appliances doesn't seem like much of a wealth trajectory

 

[free_dom]

On a side note, what advice can be given to some one looking to purchase a PPOR in the inner west. We have been looking but it seems every month the prices get higher and higher. Now we're not sure if we should wait it out until some of the heat comes out, maybe next year?

If things do settle will the prices just remain flat for a while or will there be drop in actual prices.

 

[Richard Feynman]

On a side note, what advice can be given to some one looking to purchase a PPOR in the inner west. We have been looking but it seems every month the prices get higher and higher. Now were not sure if we should wait it out until some of the heat comes out, maybe next year?

If things do settle will the prices just remain flat for a while or will there be drop in actual prices.

I imagine that the longer you wait, the more you will pay.

I don't envision much more than a stagnation when things ease up, but make your own decision. I have no crystal ball, just an opinion.

Whereabouts in the inner west are you looking? I still reckon there's > 10% left in and around where mine are.

 

[free_dom]

We're looking around Hurlstone Park, Dulwich Hill, Marrickville, Leichhardt, Ashfield, Croydon. We're looking at buying something that needs a bit of work instead of something that has been fully done up. It seems now that these types of houses are going for nothing less than 1.1million. I think 1.1 is getting pretty steep for something that needs work. I should not be complaining as we are fortunate enough to look in the inner west.

 

[Azazel]

We're looking around Hurlstone Park, Dulwich Hill, Marrickville, Leichhardt, Ashfield, Croydon. We're looking at buying something that needs a bit of work instead of something that has been fully done up. It seems now that these types of houses are going for nothing less than 1.1million. I think 1.1 is getting pretty steep for something that needs work. I should not be complaining as we are fortunate enough to look in the inner west.

Inner West continues to go pretty crazy. Just when you think it's gone enough, it keeps going. We had neighbours that sold up and moved out a little bit to Dulwich Hill and seemed to do alright but that was almost a year ago now. What's the next suburb, Tempe? Even that is going crazy.

 

[Richard Feynman]

We're looking around Hurlstone Park, Dulwich Hill, Marrickville, Leichhardt, Ashfield, Croydon. We're looking at buying something that needs a bit of work instead of something that has been fully done up. It seems now that these types of houses are going for nothing less than 1.1million. I think 1.1 is getting pretty steep for something that needs work. I should not be complaining as we are fortunate enough to look in the inner west.

Some of the stuff (on smaller blocks) needing work can be found for around the $900k mark. Though it's becoming very common.

I certainly don't envision the cluster of Hurlstone Park, Dulwich Hill and Marrickville going backwards. Unless we see stratospheric growth for quite a while. I've got a pretty close eye on them.

 

[Richard Feynman]

Poll is closing tomorrow.