Hello there - just wondering if anyone caught the interview on 702 ABC with Margaret Lomas tonight. In particular interested in your thoughts on the comment she made with regards to Sydney being 'overheated' at the moment and how she predicts prices to possibly retract in the next six months or so.
Margaret Lomas interview on ABC
- Thread starter Yamazaki
- Start date
Was this on Tony Delroy's show?
Completely agree her on that one
She also made it clear in the Home Buyer show in Sydney Olympic park on the weekend to avoid buying in Sydney currently because of the buyer frenzy.
She is recommending a buy in Brisbane at the moment.
She is recommending a buy in Brisbane at the moment.
Missed it. I usually tune in to the nightlife every night too. I have the tune in app and can relisten to his shows so I'll have to do that when it shows up later today.
Having been watching the market in Sydney ( upper north shore ) very closely over the last few months , I see no sign of it slowing down , if anything , the opposite .
Everything we've seen is selling at expectations or above.
Under 1.5 very hotly contested and plenty of buyers up to 3 mill and the top prestige properties are also selling
No sign of prices dropping any time soon in our neck of the woods .
Was interested to this see in Christopher Joye's latest article in the AFR , although warning ( as always ) about property values being overpriced , he finished with the following comment
Melbourne values are appreciating more rapidly than Sydney, with both realising strong double-digit gains this year. Many pundits were fooled by the winter seasonal slowdown, which has been reversed. With banks promoting the cheapest mortgage rates ever, I suspect Australia?s nascent housing bubble will get bigger.
Cliff
Everything we've seen is selling at expectations or above.
Under 1.5 very hotly contested and plenty of buyers up to 3 mill and the top prestige properties are also selling
No sign of prices dropping any time soon in our neck of the woods .
Was interested to this see in Christopher Joye's latest article in the AFR , although warning ( as always ) about property values being overpriced , he finished with the following comment
Melbourne values are appreciating more rapidly than Sydney, with both realising strong double-digit gains this year. Many pundits were fooled by the winter seasonal slowdown, which has been reversed. With banks promoting the cheapest mortgage rates ever, I suspect Australia?s nascent housing bubble will get bigger.
Cliff
Although a lot of what she says makes sense she also doesn't always get it right. She's been saying don't buy in Sydney over the last few years well before the recent surge and at the same time promoted Adelaide which has had below par results. I still listen and take note of her comments and opinions however.
Don't think Margaret buys to many IP there, nor her clients.
I think his point was that "sydney" isnt 1 market
I'll listen to her as well . I listen to everyone ...
My point is that Sydney isn't dropping and short of some unforeseen change doesn't appear to be about to drop.
That doesn't mean it's the place to buy now . Our last Sydney buy was in mid last year and then we bought in Brisbane after that .
Still working out where our next buy will be
Cliff
My point is that Sydney isn't dropping and short of some unforeseen change doesn't appear to be about to drop.
That doesn't mean it's the place to buy now . Our last Sydney buy was in mid last year and then we bought in Brisbane after that .
Still working out where our next buy will be
Cliff
She suggested outer suburbs of capital cities where there is population pressure and plans for infrastructure / urban development etc., seems obvious - yes. One could infer that this description matches satellite cities in SW and NW sydney such as liverpool, blacktown etc., But when she says sydney is overheated - I wonder if she implies that you should stay away from these areas as well for a while.
It basically means that it's basically at the peak or close to the peak of the cycle
If you buy now, you will be competingwith the usual herd that buy at the worst times for whatever reason, which means less chance of a good deal
You might get some cg or you might get none, but at least you have the guarantee of high demand if you need to sell in the short to medium term
Why buy something that has say a 50% chance of guaranteed high growth for a year, a 50% chance of zero growth
Vs something that can havr 25% chance of fall, 25% flat, 50% chance of decent growth over the short, medium and long term
Adelaide !
yes - all the west has done really well. buy on the outskirts of Sydney later.
Thinking about that
Seriously , just haven't bought in Adelaide before so would need to do a bit of reading here and then some research . Also maybe more in Brisbane / rocky or Tassie where we've bought before or who knows , we may go down to the Bayside and say hello to Grand pa .. I also wonder what's happening over in the land of the long white cloud .
Unfortunately , I dont think Keiran Trass is into IP's now so we can't ask him
Cliff
Western Sydney appears to be stabilising now.
