Prices go up a lot, come down a bit, then go up more. History rarely changes.
That's true for the last half a century, but what about before that? Maybe what we've experienced in our lifetimes isn't historically normal at all.
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Prices go up a lot, come down a bit, then go up more. History rarely changes.
John Edwards from Residex has a pretty good track record, and so I respect his latest opinions as outlined here, provided for your consideration:
http://blog.residex.com.au/2014/09/...-market-update-2/?Cid=ResiNewsSept142GreyBlog
Cheers,
Alan
John Edwards from Residex has a pretty good track record, and so I respect his latest opinions as outlined here, provided for your consideration:
http://blog.residex.com.au/2014/09/...-market-update-2/?Cid=ResiNewsSept142GreyBlog
Cheers,
Alan
I suspect that John Edwards's predictions of a slowdown in the short term could be pessimistic. There seems to be a lot of momentum in the market, and these things have a habit of running hot longer than you might expect.
But I also believe that his eight year prediction of 6% or more growth per annum in Sydney is optimistic. That's roughly double the rate of inflation off what is already a high price point.
Still, I guess we'll find out in 2022.
As of today, Sydney?s median asking price has pushed past the $1 million benchmark. This figure looks at freestanding houses, which includes terraces but excludes townhouses.
In this morning's update, SQM Research?s Louis Christopher said that the median asking price for houses is now $1,005,800.
?Right now it would be impossible to purchase a free standing house in Sydney?s inner ring for under a million dollars, and will become increasingly difficult to purchase a free standing house in Sydney?s middle ring for under a million dollars," said Christopher.
Link... 'As at this morning, Sydney median asking prices for houses have now hit the $million$ dollar mark' (from Louis Christopher of SQM Research)
That's asking price, not necessarily the actual median sale price. Not having access to Residex reports myself, how does your original prediction compare?
It's over for sydney shadow, the hangover is on its way, the economy is on the turn, sure am glad I wasn't one of the suckers who's bought in a blue chip sydney suburb in the past 12 months.
It's over for sydney shadow, the hangover is on its way, the economy is on the turn, sure am glad I wasn't one of the suckers who's bought in a blue chip sydney suburb in the past 12 months.
Go Sydney you ripper - we need another 40% by 2018 to make my prediction of a doubling in prices in 15 years.
The one I just sold (Sydney West) more than doubled in 10. Bought 2004 for $180k, sold for $418100.
I don't think the runs over yet, not by a while, but it feels good to cash one of them in.