When Was/Is the Right Time to Buy in Sydney?
- Thread starter azzae89
- Start date
Sydney is not one market...it is many markets.
If you are looking out West...might have missed the boat. If you are looking at high end now would be a good time.
The Central Coast and Wollongong will follow shortly....
If you are looking out West...might have missed the boat. If you are looking at high end now would be a good time.
The Central Coast and Wollongong will follow shortly....
In Sydney we are no-where near "peaking" IMO. We are only 7-8 months into what could be a minimum 2+ year growth spurt (again just my personal opinion).
You know you are in an overblown RE boom when Mum & Dad "investors" buy an overpriced property one week-end and resell for $50-100K more the following week-end. We have a way to go, to get to that yet.
Although granted, 80% auction clearance rates, which we are starting to have, is also a pre-cursor......same old question: which suburb? W'gong is a BIG place.
I'm thinking CBD. This is the one I'm looking at:
http://www.thevantage.com.au/
I'm a FHB so could get a 2 bedder near the station + avoid stamp duty = $330K total.
Thoughts?
http://www.thevantage.com.au/
I'm a FHB so could get a 2 bedder near the station + avoid stamp duty = $330K total.
Thoughts?
1. Personally don't like OTP
2. Do a search on OTP here in the forum - lots to dislike about it
What are the proposed strata levies?
Agree. We brought in 2528 at the same time you did and have been reaping the reward since.
I hadn't bought yet as I'm a FHB and was still saving for finance. If I had it my way I would've bought 12 months ago when grants were still in place for existing dwellings and no stamps for FHB's.
Now, when I've finally finished saving, got finance sorted and I'm ready to go, grants are gone (unless I want to buy new), I have to pay stamp duty, and prices have shot up.
That's pretty much why...
Good to know...I have made about 50-100k on each...but need more CG....another 100k each would be noice!
Are already following
Sydney has a bit more to run in all suburbs, imo. We'll see $700k median prices soon. Possible to hit $750k by mid next year.
As sash say (rarely agree with him), high end has very good value even now. The big boys are still very cautious and the sellers are still on earth. $2m+ certainly possible to find value. $3m+ fair bit of value.
Below $2m it's a bit harder as lots of families can afford the $300k-$2m price range.
As sash say (rarely agree with him), high end has very good value even now. The big boys are still very cautious and the sellers are still on earth. $2m+ certainly possible to find value. $3m+ fair bit of value.
Below $2m it's a bit harder as lots of families can afford the $300k-$2m price range.
The best time to buy in Sydney was about 25 years ago.
The second best time is today.
JB
The second best time is today.
JB
http://www.htw.com.au/Downloads/Files/248-Month-In-Review-July-2013.pdf
HTW Graphs are at the bottom. I'd suggest taking with a pinch of salt and not to generalise too much as whilst a rough guide from a macro perspective, on the ground you will find its a different story depending on the price bracket/precise location(s).
All the best
HTW has Sydney houses at start of recovery and units as rising market.
Probably reflects that cheaper properties tend to start rising early in the cycle.
Cliff
Probably reflects that cheaper properties tend to start rising early in the cycle.
Cliff
