Sydney Silliness Warnings 2015

OK, a summary of this thread so far.

Early on in this thread not many warnings so I got the feeling that there was a fair wave to ride yet.

2nd half of the thread we have sash, see change and skater warning of caution ahead and the worm will turn soon but of course no one knows. Fair bit of experience in those three posters alone.

I'm beginning to take note.
 
Any silliness warnings in Sydney yet? Starting to notice vendors that have owned property for circa a year putting them back on the market and doing quite well.
 
All I can say now is: Be fearful when others are greedy.

Interested to see what happens when the interest rate bumps up a notch (likely next year).
Blood on the streets perhaps?
 
Family friend of mine just decided to drop the deposit for a 880k OTP 2 bedder in Wentworth Point. Completion in approx 2yrs. Available stock are selling for around the 700k mark.

Definitely getting there
 
To add to above we are seriously thinking of buying once more in Sydney. This would be a very short term trade while the hype is on. For example - buy a unit in eastern suburbs for say 600,000, spend 50,000 on kitchen and bathroom renovation and then put back on market in one year for 850,000 plus. Make sure sell when the market goes that 10% over where it should. Hard to tell I know but is it worth a crack?

This is speculating and gambling to me, but good luck and let us know how it will work out if you try it!
I am wondering where do you plan to buy in eastern suburb for that price, as I bought a year ago for higher price than that in that area. Yes, I did the renovation, would make more profit, and could easily sell now (was even asked by the agent of wished to sell), but why, when I view this IP as a Park Lane in monopoly game?
Also, based on your figures above for reno you plan on about 15% profit from the purchase price after all the costs, so if it is worth for you then try it?:confused:
 
In a firm believer that the APRA changes will cool things a little in Sydney, not sure it'll be by very much or for how long. I do believe that most ppor hunters and local investors are fatigued and tired/bored/educated enough now to realize the dangers that the mainstream media are only just starting to give front page news to... This sentiment could add a couple more garden hoses to assn otherwise big bushfire?
 
Family friend of mine just decided to drop the deposit for a 880k OTP 2 bedder in Wentworth Point. Completion in approx 2yrs. Available stock are selling for around the 700k mark.

Definitely getting there

whoa, is that the waterfront apartment or a house ?
 
Australia's Treasury Secretary just said Sydney house prices are 'unequivocally' in a bubble. http://goo.gl/pB07l1

Could someone please explain how the prices are in a bubble if there are no external (non directly supply/demand related) factors involved? For example in the US there was a lot of "******** credit" and a bit of fraud, etc involved with loans that banks were writing.

If Sydney has a high demand, low supply situation, then wouldn't there be only a few scenarios that would be able to pop it? You'd essentially have to increase the supply because demand seems like it will be remaining strong as people compete to come live in a (residentially) "congested" Sydney. Two main boosters of supply I can think of is owners being pressured into selling (interest rises, etc) or a huge surplus of new residential homes swamping a market that can not absorb it. If prices drop, they won't be going back in time 5+ years like they did in the US!
 
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