Sydney Market at top - calling a severe correction in 2018-2019

Just heard on the radio the other day unemployment figures were better than forecast... I think it's the end of the boom, prices will begin to level out as interest rate cuts will cease and eventually begin to rise maybe beginning 2016 onwards.

Do I think it's time to sell? Yes. Am I brave enough to act on my belief? No.
 
More rate cuts ahead I suppose....

Just heard on the radio the other day unemployment figures were better than forecast... I think it's the end of the boom, prices will begin to level out as interest rate cuts will cease and eventually begin to rise maybe beginning 2016 onwards.

Do I think it's time to sell? Yes. Am I brave enough to act on my belief? No.

Which radio was it ?

According to the RBA: http://www.rba.gov.au/speeches/2015/sp-gov-2015-06-10.html

Because the net effect of the above factors is that GDP growth has been on the weaker side of expectations, the unemployment rate is about half a percentage point higher than forecast two years ago. Consistent with that, growth in wages is, as you would expect, lower than forecast.

The unemployment is not getting any better....
 
The 53 level OTP coming up in Church St Parramatta is ridiculous. I enquired about the prices just to see what they are selling for, this is the reply I got for a 3 bedder:

These units are priced from approximately (subject to confirmation/availability) $1,297,000. If you are interested in inspecting, please let me know, and I can meet you at our showroom. Thank you

for a 3 bedroom Apartment! I am sure it will be an amazing unit, but its a unit!
 
The 53 level OTP coming up in Church St Parramatta is ridiculous. I enquired about the prices just to see what they are selling for, this is the reply I got for a 3 bedder:

These units are priced from approximately (subject to confirmation/availability) $1,297,000. If you are interested in inspecting, please let me know, and I can meet you at our showroom. Thank you

for a 3 bedroom Apartment! I am sure it will be an amazing unit, but its a unit!

is that the West point apartment ?

The strata could be crazy as well considering existing unit in Ashfield 3 Bedders is just $720k but the strata is $1100 per quarter !
 
Hahaha ridiculous - can they even sell this stuff? With this kind of money you can get a nice house in good suburbs!

Plenty of idiots in sydbey paying over the odds atm, if I was a developer I'd probably at least give it a go in terms of massively over pricing a development.
 
Therefore, we shouldn't be buying in suburbs classified in or as extreme seller's market:



Conclussion, do not buy in Sydney suburbs in genera this year.

Credible Source: http://www.smartpropertyinvestment.com.au/news/14293-top-5-buyers-and-sellers-markets


PS: I've read through this page before and print that on my desk:
http://www.creonline.com/blog/13-warren-buffett-quotes-for-real-estate-investors/ Hopefully that will helps to inspire people in Real Estate investing.


Where does North West Sydney sit here?
 
Blue Chip? lol we must have different definitions of blue chip if northwest is one! It's a new area and in my book does not qualify as blue chip at all, rather an area undergoing development.
 
Agree... Blue chip suburb must be in an established suburb.
Example
Eastern suburb: Double bay, Bondi, Coogee, etc
Lower north shore: Cremorne, Kiribilli, Milson Point, etc
Inner West: Lewisham, Petersham, Erskensville, etc
 
Blue Chip? lol we must have different definitions of blue chip if northwest is one! It's a new area and in my book does not qualify as blue chip at all, rather an area undergoing development.

ok, so let say, Light Blue chip or Aquamarine suburb, not yet blue like a gas stove.

That's the key, before it gets even more expensive... buy in that area now. :D
 
I can see piggies fly...maybe one day...not yet...;)

I've just inspected Parramatta apartment project called West Village (new OTP), but somehow I cannot purchase it at the moment due to the developer restricting Stage 1 to overseas buyer (non Australian Citizen) :confused:

Far out.. why is that so... Can anyone explains here ?
THe developer just doesn't reply to my email anymore.
 
I've just inspected Parramatta apartment project called West Village (new OTP), but somehow I cannot purchase it at the moment due to the developer restricting Stage 1 to overseas buyer (non Australian Citizen) :confused:

Far out.. why is that so... Can anyone explains here ?
THe developer just doesn't reply to my email anymore.

Lol, wth??

Maybe because they offer a massively jacked up price to OS buyers & when that well is dry, they lower it slightly and open it to locals?
 
I've just inspected Parramatta apartment project called West Village (new OTP), but somehow I cannot purchase it at the moment due to the developer restricting Stage 1 to overseas buyer (non Australian Citizen) :confused:

Far out.. why is that so... Can anyone explains here ?
THe developer just doesn't reply to my email anymore.

John,

Send me your contact detail I have overseas contact and address :)

How much is the cost by the way ? And most importantly the strata per quarter.
 
I've just inspected Parramatta apartment project called West Village (new OTP), but somehow I cannot purchase it at the moment due to the developer restricting Stage 1 to overseas buyer (non Australian Citizen) :confused:

Far out.. why is that so... Can anyone explains here ?
THe developer just doesn't reply to my email anymore.

I have never heard about this "West Village" hahaha... Where about is this ?
 
Hahahahah Run away mate! hahahaha 900k for 2 bed O.O''

I bought a relatively new low rise apartment 4 years old (2 bed 2 bath 1 car-space) in Westmead for low 500k..... That gives you the idea on how crazy OTP prices are (Almost double the price).
 
Hahahahah Run away mate! hahahaha 900k for 2 bed O.O''

I bought a relatively new low rise apartment 4 years old (2 bed 2 bath 1 car-space) in Westmead for low 500k..... That gives you the idea on how crazy OTP prices are (Almost double the price).

Yeah it is well out of my pocket.

Tt least this vendor / developer doesn't give one year rental guarantee for start.
 
I've just inspected Parramatta apartment project called West Village (new OTP), but somehow I cannot purchase it at the moment due to the developer restricting Stage 1 to overseas buyer (non Australian Citizen) :confused:

Far out.. why is that so... Can anyone explains here ?
THe developer just doesn't reply to my email anymore.

John. You have 600 posts. 599 of them have been about Northwest and Southwest Growth centre and then you get upset when you miss the worst OTP development in Parramatta which you haven't talked about at all....Have you had a chance to meet up with any professionals who have been doing this for a while? I suggest coming to the western sydney meetup next time and learn from some of the experienced people there are here otherwise you're gonna learn from your own poor experience of paying too much...

Talk to someone about your strategy and what you wish to achieve and how you wish to achieve it.. I know Rixter does skype sessions with people and he has some great tools.. I haven't had a chance to do a skype session with him because of work but will hopefully soon..

Sash is someone I learnt a fair bit off when meeting at the meet up.. Same as Skater, Michael X, and a few others.. I suggest you try to meet some experienced investors in person so they can understand your situation and give you advice and maybe see if you can replicate their strategy...
 
Back
Top