Waiting for the Sydney bust - auction clearance rates

In my opinion the dooms dayers on this forum waiting to "clean up" after the much anticipated bust are going to be very disappointed.

Sydney auction clearance rates for the last 5 weeks shows no sign of slowing with another strong result today Saturday 20 June of 83% following on from the last four weeks of; 82%, 84%, 83% and 82%. These results more impressive considering it's winter.

Australia has the fastest growing population of any country in the world. NSW is forecast to have an annual population increase of 100,000 with 80,000 a year for the next 15 years in Sydney. Definitely a healthy correction coming but don't hold your breath waiting for the bust.....supply and demand wont allow it.
 
It's going to be interesting to see how low clearance rats dip given its winter but stock levels are way down.. this is historically where we ought to see a big dip. Clearance rates for the same weekend last year was 70%.

Quite a difference...
 
In my opinion the dooms dayers on this forum waiting to "clean up" after the much anticipated bust are going to be very disappointed.

Sydney auction clearance rates for the last 5 weeks shows no sign of slowing with another strong result today Saturday 20 June of 83% following on from the last four weeks of; 82%, 84%, 83% and 82%. These results more impressive considering it's winter.

Australia has the fastest growing population of any country in the world. NSW is forecast to have an annual population increase of 100,000 with 80,000 a year for the next 15 years in Sydney. Definitely a healthy correction coming but don't hold your breath waiting for the bust.....supply and demand wont allow it.

Some news reports are saying Sydney is the next New York/London/Hong Kong in terms of property prices where it's normal for young families to rent or move out further.

My personal guess - within 15kms within the Melb/Syd CBD it'll be a pretty close knit rich only zone.
 
It will be hard to see any dramatic correction in Sydney in the near future, till the interest rate goes back up for at least 1%

The recent tightening up in the lending policy from the banks/lenders will have very little impact on those wealthy investors.
 
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