Sydney Market Forecast Anyone ?

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From: Neil Iffland


Anyone game to give an opinion on the short term prospects for the Sydney housing market ?

I know there were a lot of people here forecasting late last year that the bubble was about to burst. And I was reading the latest Residex report based on the March 2002 quarter stats & they are predicting low growth rates over the next 12 months.

However in my area (Cronulla - Sydney south) the market is currently hot & prices appear to be rising quite rapidly.

So I'm glad I ignored the doomsayers & bought late last year. But I'm thinking I should wait before buying another ?
 
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Reply: 1
From: Alan Hill


I'm with you Neil!

I bought another one last April and was a tad concerned I had bought too close to the bubble........glad I did now!

I heard it described the other day as the longest Property Boom since the 1950's......
.....I wonder if that means we will have the longest 'flat period' when it does finally burst?


:)
 
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Reply: 1.1
From: Robert Forward


Hi Neil

The Cronulla area did have a very flat period during the middle of last year when the rest of Sydney was booming along. From memory of reports I saw in teh API magazine Cronulla had 2 consecutive Q's of about 1-2% growth when the rest of Sydney was double or triple that.

So Cronulla now may just be catching up that missed time from last year.

Cheers,
Robert

Get your Due Diligence Property Inspection Reports @
http://www.CreativeFinance.com.au
 
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Reply: 1.1.1
From: See Change


While every one talks about a 7-10 year cycle, in reality the last top was 88-89 , so now is getting closer to 14 years, so maybe this is to make up for the long flat period we've already had. In many areas in and around sydney there was almost 10 years with NO movement.

A double cycle ? just a thought

see change

it's better to be guided by your dreams than your fears
 
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Gold Coast Property Cycle... 88 - 94 - 02

Reply: 1.1.1.1
From: Ross Sondergeld


Hi See Change,



Subject: Sydney Market Forecast Anyone ?

You said, "While every one talks about a 7-10 year cycle, in reality the
last top was 88-89, so now is getting closer to 14 years, so maybe this is
to make up for the long flat period we've already had. In many areas in and
around sydney there was almost 10 years with NO movement. A double cycle ?
just a thought."


Interesting comments...

On the Gold Coast we had the 1988 boom (high sales and growth), then the
1994 cycle (high sales and no growth), and now the 2002 boom (high sales and
high growth).


Find sales volumne for Sydney and see if 1994 was the same ???



Ross Sondergeld ~ Buyer Agent

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Office 9b, 34 Glenferrie Drive Office (07) 5562 1555
East Quay Corporate Park Fax (07) 5562 1248
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