That's a median for house prices only right, not including units? What's Sydney's overall property median atm?Up to $945,500 in April... http://i187.photobucket.com/albums/x308/LPShadow/Residex-Sydney-April-2015.png~original
Only another 5.8% growth over the following eight months will see a Sydney median of $1 million this year.
Yes, that's houses only. Residex puts the median unit price at $629K.That's a median for house prices only right, not including units? What's Sydney's overall property median atm?
Looks like the rental yield for houses dropped to 3.33% at the '03 peak.I discovered this.
Well if that's the case, then we should now avoid to buy IP in Sydney and then buy within 10 KM of Brisbane CBD for a short term Capita Growth ?I think I voted no , but would have for 2016 .
Still eight months to go . Line ball for me . If there are no changes in the market conditions , I think it will make it , but if there is any change it might not .
BTW , would love to hear you prediction for Brisbane ... Maybe another thread ?
Comes down to individuals doing their own DD and what style of investing you like doing .Well if that's the case, then we should now avoid to buy IP in Sydney and then buy within 10 KM of Brisbane CBD for a short term Capita Growth ?
Yes, that's the thing, hence most of the OTP vendor, they are offering one year of rental guarantee. But what happens after the one year of rental guarantee, it will be a gamblingThe general advise is don't buy units centrally in Brisbane due to upcoming supply issues but we got this one at a good price and its - nice property in a nice location .
SYDNEY'S median house price is on target to hit the $1 million mark by the end of this decade.
Exclusive figures from property analyst Residex reveal about half of Sydney's home owners will find themselves millionaires by 2020.
This means an estimated 625,000 houses across the metropolitan area will have a value of more than $1 million.
"If you look back 10 years ago, Sydney's median value was fairly low by comparison with today," Residex chief executive John Edwards said. "Twenty years ago, we weren't even at $200,000.
"The population has become used to these things. They grow to expect it and accept it.
"But it will still be very high. Salaries will have gone up, but not at the same rate as house prices."
Outer suburbs are tipped to enjoy the highest capital growth during the next eight years.
At Rouse Hill, in Sydney's north-west, the median house price is predicted to jump by an average eight per cent a year, from $586,000 to $1.07 million.
Similar growth is expected for Narellan Vale, Abbotsbury, Cecil Hills, Bligh Park, Glen Alpine, Woronora Heights, Wattle Grove and Kellyville Ridge.
unless this bubble keeps blowing out with continued vigour, I am not sure it will make it. A rise of that magnitude from here to $1m within 4.5 years after such a strong boom? who knows. If they slash rates and print money it couldI chuckled when I stumbled on this 2010 article:
There are two types of rental guratee's I've seen .Yes, that's the thing, hence most of the OTP vendor, they are offering one year of rental guarantee. But what happens after the one year of rental guarantee, it will be a gambling
Many thanks for the explanation Cliff, you're amazingly greatThere are two types of rental guarantees I've seen .
One that is based at market rent , which can be offered in circumstances such as the developer is building next door and that will ( in the short term ) make a unit more difficult to rent .
One that is offering an inflated rental guarantee , so that the buyer thinks the property is worth more than it is . The funds to pay the rental guarantee are funded by an inflated price . The tenant is paying significantly under the guarantee. When the the guarantee runs out they are in for a rude shock . Not sure how common this is now , but in previous cycles it caused lots of grief in parts of brisbane and probably was a factor in price drops in some areas .