1.1 for wentworthville .....
800 K for a house in Liverpool !!!!
WTF !!!!
this has to be getting close to the top.
Unless there has been underlying change in the market ( and I don't think so )
Mona Lisa / MsAli .
They've been talking about parramatta as a second CBD for a long time . We go there on a regular basis as our accountant is there .
I haven't seen a fundamental change in the area last thirty years apart from some new office and apartment blocks.
At some stage people will be buying places out there for cheaper than they are selling at the moment .
This is really where
The Hype is kicking in ...
Once it get to this stage , the end is inevitable .... it's just a matter of how long .
IMHO , any one who buys out west at this stage is off in La La land
BTW , are you going to turn up to Skaters next meeting . Every one was asking where you two were ...
Cliff
I reckon the top is still circa 20% - 25% away. Main theory is interest rates. Still an easing bias. We need an interest rate rise first to fire the warning shot. People will then scramble to still get in as there will be so much hype by then and fear of missing the boom that they will buy anyway. The second interest rate rise will be the second warning shot before the third rise will kill it. This will be the top. Fourth interest rate rise and so on will start wiping out any gains.
As far as I see it we still could be two years away from that third interest rate rise. Of course there are markets within markets so some may be very toppy now.
Was seriously thinking of buying in Sydney again circa 3 months ago but not anymore as need more than 20% gain to ride it to the next cycle which could be circa 10 to 12 years away. My theory only so you bears out there can go and jump in the lake.