Sydney house prices

There was an article in the West Australian newspaper a few days back showing the drop in house prices across various suburbs.

Langford was down over 30 percent. With an average price of around 450K from its peak in 2007,it's average is down to a little over 300K.

Were interest rates to increase a lot,the average price could drop to 100K no problem.

Time will tell. In the meantime, get your hands on gold and silver.

460 for sale

It has now doubled

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AUS1111 said..

petermac33 said..
There was an article in the West Australian newspaper a few days back showing the drop in house prices across various suburbs.

Langford was down over 30 percent. With an average price of around 450K from its peak in 2007,it's average is down to a little over 300K.

Were interest rates to increase a lot,the average price could drop to 100K no problem.

Time will tell. In the meantime, get your hands on gold and silver.

Right so I need to buy gold and silver, and then sit on it, and I'll be able buy a house for $100k? Sounds good to me!

Yep, we will all be living under that overpass waiting for the same 'correction'.

As if someone is going to need somewhere to live when they can eat silver or gold?

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petermac33 said..
There was an article in the West Australian newspaper a few days back showing the drop in house prices across various suburbs.

Langford was down over 30 percent. With an average price of around 450K from its peak in 2007,it's average is down to a little over 300K.

Were interest rates to increase a lot,the average price could drop to 100K no problem.

Time will tell. In the meantime, get your hands on gold and silver.

If the West Australian says property prices are going down, this is the time to buy.

What everyone knows is not worth knowing.

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bazz61 said..
Units selling fast here in Broadbeach ..hi rise going up x6...lifestyle going down the gurgler

Yeah, I miss the Gold Coast pre-traffic. It has become a victim of its own success, of sorts.
Perhaps there should have been a population cap, at around 300,000.

Holding steady more or less, a few less bidders at auctions, perhaps a few percent softening. At the moment you need to accept a reasonable offer, rather than play buyers against one another. Nothing resembling a bubble burst though. Will be interested to see what happens as buyers start looking again following the christmas break. I'd expect a flat year, (or maybe two??), as the previous couple of years high gains are consolidated and the impact of the non-resident taxes is absorbed.

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evlPanda said..
Sydney has 70% auction clearance rate. No end in sight for the bubble. Now in its 18th year it has the right to vote.

This just shows how we have all been ripped off. For some reason we all seem to think that buying an expensive property and then working to pay it off is the key to happiness.

This investment property speculation boom has lead to people "investing" in lack lustre property in regional areas as well that has just increased the prices for those living there, with no real value. Why do people sink their money into it? They think they can come out ahead with tax deductions and windfall capital gains.

I have been watching some of those TV programs where people move into areas and look for an ideal house. We can't do that. Here, moving is such an expensive business that no one really can afford to move around much. If I wanted to move to a regional area and live a better lifestyle, the prices are still crazy.

We have been sold a pup by lazy politicians that don't care about our lifestyle and just care about cramming more people into the same over populated cities.

Anybody else watch The Business on ABC last night? The first story in the show is all about how the banks' income and loans data makes no sense. Worth a few minutes of your time.

iview.abc.net.au/show/business

It seems that their figures show 42% of loans go to households with incomes above $500K. How many people do you know pull $10 000 a week?

apparently the peak of IO loans was 2015. i wonder if we'll see some notable changes if they roll over en masse in a year or so

This is what worries me:

www.news.com.au/news/property-investor-shares-her-secrets-to-striking-it-rich-in-real-estate/news-story/6782ae0685c294ecd4ad0fb548ac0e3c

It worries me because the article starts out sounding really optimistic as if you need to do the same.

When you read it, it seems a bit different. It sounds like she has been lucky so far, but it seems her returns are falling and she is in a precarious position if values fall. I don't want to be caught in the action if they fall, as she will be dumping her properties when she can longer afford them and so will tens of thousands of others.

Lifted from the Financial Review - "The Turnbull government is planning a crackdown on capital gains tax concessions for property investors to seize the mantle on housing affordability and provide revenue to help replace soon-to-be dumped budget cuts"

There has also been a lot of rumour regarding CGT concessions being removed altogether for non-residents.

www.accountantsdaily.com.au/tax-compliance/11379-new-cgt-changes-tipped-to-impact-aussie-expats-trigger-property-armageddon?utm_source=Accountants%20Daily&utm_campaign=01_03_18&utm_medium=email&utm_content=1

I think it's just a bill so far, but it'll go through.

Good pickup FN, if they've worked out a fix to make sure the politicians and other government officials are protected and everyone else can get stung then it's going to be legislated for sure and it's not going to be rumour for much longer

Geez you know it's fcked when the real estate blurb says you have to sign a waiver, no entry to pers under 16, enclosed shoes must be worn.
What happened to the ol renovate and reap the rewards! Classic styling, Lick of paint, etc. he calls himself a real estate agent!

I saw on tv a new company offereing to get investors to buy percentages of properties so people can band together to get into the property market they had a rent own option so you pay off your part while paying rent on the rest .
If you choose to live in .
Until the day you can buy them out .gut feeling somebody is going to get burnt .