See Change and Richard Feynman . let's hype the sydney market thread .

I like this article by Alan Kohler using the counter to public opinion approach

If everyone thinks it's a bubble , it probably isn't

It is true that a bubble followed by a crash would be undesirable, to say the least, but is that what we have coming?

I doubt it. As a rule of thumb, if everyone thinks it's a bubble, it isn't one. Bubbles occur when everyone is complacent.

There is a shortage of housing, especially inner-city, and plenty of demand, augmented by foreign investment, business migrants and SMSFs. It looks to me like the market at work.

And the demand from foreign buyers, especially Chinese, has a long way to go.

Australian houses, especially in Sydney and Melbourne, could be theoretically overvalued for a very long time.

Cliff
 
John McGrath bullish on pieces despite bubble talk

John McGrath bullish on prices despite bubble talk

Sydney is only half way through the current up-tick in the property cycle and can expect 5-10 per cent growth per year for the next two years.

The confident forecast by McGrath Estate Agents chief executive John McGrath goes against recent speculation by some analysts that the market is overheating.

"We've seen about 15 per cent growth in the last 12 months in this city. I don't wish to see another 15 per cent increase, but I think we'll see a single-digit increase in the next two to three years," Mr McGrath said at a client breakfast on Thursday.

Cliff
 
Leading into this weeks auctions , APM 's preview



Sydney September 27th auction

Sydney will host its first spring super Saturday of auctions this weekend with record numbers of auctions expected for the usual pre-Labour Day long weekend holiday climax to the early spring selling season.

714 homes are set to go under the hammer which will bring the September auction total to 2427 just below the record September result of 2461 reported in 2010. This weekend?s auction numbers however will be the highest ever recorded for a September Saturday and presents another stern test for the market

http://www.dailytelegraph.com.au/newslocal/north-shore/real-estate-spring-season-delayed-as-supply-hits-a-major-low/story-fngr8h9d-1227066345764

This week will be interesting in my area . There have been lots of new listings in the over 2.5 mill region , but not much between 2 - 2.5 .

The market has been strong under 2 , and there are two auctions tomorrow with expectations of 2 - 2.5 .

This one aiming 2.3 and above . I think this would have been struggling to get much above 2 mill 2-3 months ago . SWMBO agrees .

This one will be interesting as it was passed in around 6 weeks ago at 1.9

in the last week we've had three agents ( they already know we're interested in selling ) approach us to sell as they've had a highly motivated buyer who has missed out on a couple of recent sales and are looking to buy in our area . They weren't looking to market the property , just to have one specific buyer through . We've never had that happen before , so for me it suggests lack of stock relative to supply , so I'm predicting another > 80 % plus weekend , possibly higher than last week , again with an increase in overall sales .

Cliff
 
Based on the total number of auctions and regions with the higher numbers, 83% doesn't look unrealistic this weekend.

The median sale price is going to be of most interest..
 
While auction numbers are down half due to the AFL grand final

It was interesting to note how much auction sales have increased this year compared with last year

In Sydney RP Data is expecting 862 auctions compared to 883 last week and 891 for this week last year. Volumes may be similar to comparable weeks but that understates the siignificant rise in auctions this year. There have been 26,111 in Sydney this year, 8,191 more than this time last year at the same time the overall clearance rate has risen from 71.5 to 75.2 per cent.

Cliff
 
That is a huge difference in auction numbers and clearance rates particularly considering the property value increases over the last year. There was a quite a big increase in median values in the last part of last year I wonder if we will see similar results in these last few months of the year.
 
Sea change....

You have talked about selling yours at the top...

If you listed it now... a few weeks to get it to market and 1 week to sell...

Is this the top????

I suppose just asking :) and I'll be able to come back to this if it is the top.

Hope it keeps growing for you!!!!!!
 
monalisa said:
True - but those with their children already in that school may want to live closer.
Click to expand...

I generally find that those who buy are hoping to be in the catchment area. Once their kid is in, whether they remain in the catchment area isn't important.
 
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