Smart man....just make sure you have all the money in existing Sydney property pulled out as deposits. 
Sydney Market at top - calling a severe correction in 2018-2019
- Thread starter sash
- Start date
I would not be buying in Sydney again until circa 2026/27 at this stage although things could change that.
If you had some guts Sydney (certain pockets) could still be worth a shot this cycle but I would be out within two years. Entry and exit costs would take most of your profits now though.
I don't know.. but I think it's about time Inner west needs a complete Revamp... this is WAY Overdue... It has been over 10 years without any development... people are fighting for land anywhere in 5-10km radius of CBD.
If you look at any other Capital City around the world... 5-10km of CBD has been mostly developed (i.e. lots of high rise, and apartment of course with infrastructure). However sydney is WAY behind.
+ all this planned proposed development around Glebe, Erskinsville wont be completed anytime soon (all that 2000-3000 apartment wont be completed in like 12-24 months). Normally this is done in phases. Perhaps in 5 years or so and by then the supply probably get outrun by the demand again.
ABS. Well these are state growth numbers. I just translated them to Melbourne/Sydney which is a bit cheeky of me, but let's say 80% went to the capital cities that would be around 85000.
Smart man....just make sure you have all the money in existing Sydney property pulled out as deposits.
Sit tight, reduce debt. Refinance all properties and have spare cash to move if need be.
What sort of gain?
I don't think that somersoft members have the capacity to push the market up and down. We're merely here to discuss what it will do rather than change the trajectory of the trends.
I don't think so... Everyone have their own opinion and believe, so don't be scared of what other think.
I will still invest in Sydney regardless what the media and other think, as long as you know if you have enough equity and cash flow to service your debt in the rough time why not ?
Im investing for long term goal (20-30 years)... If i buy 2 bed unit for 500k now, tenanted for 470-480 per week, really what are the chance for it to crash to 300-400k ?!?!?... and in 20-30 years I'm almost certain it will at least 1 million.
Pretty bold statement, but I like it!
Many doomsayers only say, it is near the top, near the top, interest rates will go up, but, no one can explain, why it will go up? Unemployment rates are still very high, and economy is getting worse, any budget saving measure still stuck in Tony's thoughts bubble, no reason for RBA to increase interest rates.
And, will there be any variation in the drop across Sydney areas? Which area in Sydney will hold value?
I believed so. Drop wont occur to all part of Sydney. I guess some area with a very high dense and high vacancy rate will be highest risk (i.e Inner City Zetland, Waterloo, Mascot, Alexandria. There are So many high rise apartment, the rental yield are getting very very low, and Vacancy rate is very high)
Agree , I think we just reflect what is going on in the community .
Having said that i believe that some Individuals on somerrsoft could trigger interest in a smaller market ( though whether it would change the market I don't know ) or certainly generate interest in individual properties .
My observation is most long term members don't talk about where they're buying until after they've bought . Generally I dont , though I probably did when I first joined .
There was a developer on the forum years ago called Michael croft , who started a thread that was going to follow though from the buying through everything . Unfortunately for him , he posted details of the property prior to buying and the agents got a sudden increase in interest in the property so he didn't end up buyin it .
Cliff
Same could be said about people like Micahel Yardley and Margaret Lomas. They mention areas and some people blindly buy in.
But , you will never see Michael advise people buy in places like Mt Druitt , Logan etc . I don't pay much attention to Margaret , as I seem to recall that she has recommended some mining towns , and for me that's one of my few no no's
They have their own biases .
Here , you can find almost every where being recommended by someone ....
Or at least discussed .
Cliff
Think Sash is referring to Dymphna Boholt.
I've read Margaret's books, she advocates to buy in non-mining towns as they don't have diverse industry or intrinsic growth drivers.
