What's happening in Sydney?
- Thread starter nat7878
- Start date
I'm more interested to know how many of these impulse bidders back off after they calm down and realize they've got themselves into some deep chocolate ice cream 
I'm more interested to know how many of these impulse bidders back off after they calm down and realize they've got themselves into some deep chocolate ice cream
By the time the brain freeze kicks in its too late
I'm more interested to know how many of these impulse bidders back off after they calm down and realize they've got themselves into some deep chocolate ice cream
can take a while .
Loosing a job can be a trigger or a recession .
Some may never realise , especially if prices keep on going up ...
Cliff
Clearance rate around 80% and more.
15% growth (av) in 2015.
6% growth (av) 1st Qtr 2016
No let up in sight.
Recently paid $1.015M for a property in Earlwood with a price guide of "over $800K" but agent agreed was more like $950K - definitely not $1.0M. There were 3 strong bidders after $1.0M was reached (including us).
Last weekend was beaten on a 2brm unit worth $550K (recent sale of similar was $515K), that sold for $592K.
I'm guessing 20% growth for 2015 especially if the RBA cuts again.
I doubt we'll see 20% growth. More like 6-8% for unit and 8-10% for houses.
Firstly, it was only a guess. Secondly, we've already had 6% from houses in the first Qtr of 2015. Only time will tell. Let's meet back here next year and see.
I remember in 2008 when my mate/neighbour sold (at what in hindsight was the peak). he got $1.95m I think it was. I bank val'd my place at $1.9m by 2 different valuers. the sky was the limit tho, everyday that went by I was richer on paper. In early 2010 I wanted to move, I was lucky to get an extremely good price, $1.55m. The people that bought my neighbours house decided they didn't like the house and resold, in about 2012?? for $1.4m. Prices have barely moved since. So peak to bottom was about 25% loss and stayed there for about 7 years so far. Timing is very important.... I can't tell you when the top is but your wealth levels will vary dramatically if you can get it right
Here are the auction results from last week
http://www.homepriceguide.com.au/saturday_auction_results/sydney_domain.pdf
http://www.homepriceguide.com.au/saturday_auction_results/sydney_domain.pdf
I'm not doubting it completely, some cheaper area might be getting 15-20%. But doubt higher end of the market will get that. A house For example in Epping selling for 2 mill+ will be 2.4-2.5 early next year.
it will be crazy if it happens hahaha
