Sydney -the best market in the short term

[virgo]

August Residex reports states that median price of Sydney will rise to 750K in the next 12 months PROVIDED the state labour govt is OUT!

http://www.residex.com.au/newsletter/source2010_08aMC.html?content=commentary&from=news0810a

Happy days??

 

[Nathan]

I love it!

 

[Gentle_Chief]

Frankly, I do not want it to raise that far that fast. It will only add more fuel to the theory that the there is a Bubble forming in the Australian Housing.

Much prefer a steady 7.2% Capital Growth p.a.
Since 2009 saw Sydney raise by about 10%, I am happy with a 5% this year

 

[Jebb]

That's amazing and ridiculous at the same time.

 

[MichaelW]

Happy days indeed! Thanks Virgo...

I'd like to see another 10% odd annual price increase in Sydney through the next 12 months, but would be happy with anything really. Just about to kick off my unit/townhouse development for top end units and the banks vals already have a very handsome margin in it. Any price appreciation over my 12 month build period is a bonus.

Cheers,
Michael

 

[ok180]

I doubt it will go up that much if at all. It's a struggle to afford an average house in Sydney as it is.

 

[neK]

Hmmm based on that i better vote Labor for the NSW government then.

 

[Propertunity]

I doubt it will go up that much if at all. It's a struggle to afford an average house in Sydney as it is.

Sydney house prices have been amongst the most unaffordable for the last 10 years at least (and probably longer). I'm not convinced that Sydney house price behaviour has any causal link to affordability.