Australian Politics Forum - Sydney property price collapse has started

Baronvonrort

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Re: Sydney property price collapse has started
Reply #180 - Oct 20^th, 2015 at 9:52pm

Lisa Jones wrote on Oct 20^th, 2015 at 11:17am:

Baronvonrort wrote on Oct 20^th, 2015 at 10:40am:

Sir lastnail wrote on Oct 20^th, 2015 at 10:37am:

Johnsmith wrote on Oct 20^th, 2015 at 10:34am:

Baronvonrort wrote on Oct 20^th, 2015 at 10:32am:

red baron wrote on Oct 20^th, 2015 at 10:24am:

Any chance we can get back on subject? Anyone care to give their opinion on just how far the Sydney Property market will dive to.

2 out of every 3 properties were sold at auction last weekend despite the high reserves set by the owners.

Is this the evidence people are using to claim price collapse has started?

I think that is part of the problem ... they have gotten so used to seeing 90% clearance rates that they';ve forgotten that 65% clearance is actually pretty good.

The point is it didn't take much for it to drop from 90% to 66% Wink

Only having 2 out of every 3 sold at auction is hardly cause for concern.

Article in the paper the other day saying many properties are sold before the auction in the good parts of Sydney.

Irrespective of such articles...you've hit the nail on the head there.

The good parts of Sydney.

In short?

Position.

Example : In the past 3 weeks, I've seen 2 revolting but definite knock down jobs on very steep (expensive to rebuild) blocks of land in our neighbouring streets. Both sold at/before auction.

How or why anyone would bother paying $2 million plus for these is beyond me.

The figures just don't add up.

I can understand paying 1 to 1.3 million for land....but not $2 million.

The buyers were not Chinese. They were Lebs.

Something's not right there.

The figures just don't add up.

I smell money laundering.

I think those who have a good position have nothing to worry about, if you bought in Rooty Hill hoping to make money that could be a mistake.

With 2 out of every 3 selling at auction along with many sold prior to auction there doesn't appear to be any problems with buyers.

Supply and demand are why prices keep increasing, this is a concept unemployable leftists cannot understand.

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Ex Dame Pansi

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Re: Sydney property price collapse has started
Reply #181 - Oct 21^st, 2015 at 6:27am

Baronvonrort wrote on Oct 20^th, 2015 at 9:52pm:

Supply and demand are why prices keep increasing, this is a concept unemployable leftists cannot understand.

The greedy banks are nearly broke because of indiscriminate lending, that's why they will all be putting up interest rates.

Massive personal debt will cause the housing crash in the end.....that's something the unemployable, uneducated righties can't understand.

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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....

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Lisa Jones

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Re: Sydney property price collapse has started
Reply #182 - Oct 21^st, 2015 at 6:51am

Baronvonrort wrote on Oct 20^th, 2015 at 9:52pm:

Lisa Jones wrote on Oct 20^th, 2015 at 11:17am:

Baronvonrort wrote on Oct 20^th, 2015 at 10:40am:

Sir lastnail wrote on Oct 20^th, 2015 at 10:37am:

Johnsmith wrote on Oct 20^th, 2015 at 10:34am:

Baronvonrort wrote on Oct 20^th, 2015 at 10:32am:

red baron wrote on Oct 20^th, 2015 at 10:24am:

Any chance we can get back on subject? Anyone care to give their opinion on just how far the Sydney Property market will dive to.

2 out of every 3 properties were sold at auction last weekend despite the high reserves set by the owners.

Is this the evidence people are using to claim price collapse has started?

I think that is part of the problem ... they have gotten so used to seeing 90% clearance rates that they';ve forgotten that 65% clearance is actually pretty good.

The point is it didn't take much for it to drop from 90% to 66% Wink

Only having 2 out of every 3 sold at auction is hardly cause for concern.

Article in the paper the other day saying many properties are sold before the auction in the good parts of Sydney.

Irrespective of such articles...you've hit the nail on the head there.

The good parts of Sydney.

In short?

Position.

Example : In the past 3 weeks, I've seen 2 revolting but definite knock down jobs on very steep (expensive to rebuild) blocks of land in our neighbouring streets. Both sold at/before auction.

How or why anyone would bother paying $2 million plus for these is beyond me.

The figures just don't add up.

I can understand paying 1 to 1.3 million for land....but not $2 million.

The buyers were not Chinese. They were Lebs.

Something's not right there.

The figures just don't add up.

I smell money laundering.

I think those who have a good position have nothing to worry about, if you bought in Rooty Hill hoping to make money that could be a mistake.

With 2 out of every 3 selling at auction along with many sold prior to auction there doesn't appear to be any problems with buyers.

Supply and demand are why prices keep increasing, this is a concept unemployable leftists cannot understand.

Yep....and a steady stream of renters.

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If I let myself be bought then I am no longer free.

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Lisa Jones

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Re: Sydney property price collapse has started
Reply #183 - Oct 21^st, 2015 at 6:54am

Bobby. wrote on Oct 20^th, 2015 at 6:41pm:

Longy - stop posting dreams about your old fibro dump in Adelaide.

Nail's car costs more than your dump.

I keep hearing about Nail's bloody car.....what does the homeless fool drive? A Lamborghini?

Had to google this .....just to get an idea of current models/prices.

"The Lamborghini Huracan is the Italian brand's most affordable model, priced from $428,000 PLUS on-road costs."

I know what I'd be doing with 450K.

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« Last Edit: Oct 21^st, 2015 at 6:59am by Lisa Jones »

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Sir lastnail

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Re: Sydney property price collapse has started
Reply #184 - Oct 21^st, 2015 at 9:51am

Lisa Jones wrote on Oct 21^st, 2015 at 6:54am:

Bobby. wrote on Oct 20^th, 2015 at 6:41pm:

Longy - stop posting dreams about your old fibro dump in Adelaide.

Nail's car costs more than your dump.

I keep hearing about Nail's bloody car.....what does the homeless fool drive? A Lamborghini?

Had to google this .....just to get an idea of current models/prices.

"The Lamborghini Huracan is the Italian brand's most affordable model, priced from $428,000 PLUS on-road costs."

I know what I'd be doing with 450K.

At least I don't have a Walter Mitty complex and live in a housing commission flat Cheesy

LOL

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Lisa Jones

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Re: Sydney property price collapse has started
Reply #185 - Oct 21^st, 2015 at 9:56am

Sir lastnail wrote on Oct 21^st, 2015 at 9:51am:

Lisa Jones wrote on Oct 21^st, 2015 at 6:54am:

Bobby. wrote on Oct 20^th, 2015 at 6:41pm:

Longy - stop posting dreams about your old fibro dump in Adelaide.

Nail's car costs more than your dump.

I keep hearing about Nail's bloody car.....what does the homeless fool drive? A Lamborghini?

Had to google this .....just to get an idea of current models/prices.

"The Lamborghini Huracan is the Italian brand's most affordable model, priced from $428,000 PLUS on-road costs."

I know what I'd be doing with 450K.

At least I don't have a Walter Mitty complex and live in a housing commission flat Cheesy

LOL

Actually, I think you do. On both counts.

And as regards that car you drive, it's probably just like you. Boring and passe.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Sir lastnail

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Re: Sydney property price collapse has started
Reply #186 - Oct 21^st, 2015 at 11:06am

Lisa Jones wrote on Oct 21^st, 2015 at 9:56am:

Sir lastnail wrote on Oct 21^st, 2015 at 9:51am:

Lisa Jones wrote on Oct 21^st, 2015 at 6:54am:

Bobby. wrote on Oct 20^th, 2015 at 6:41pm:

Longy - stop posting dreams about your old fibro dump in Adelaide.

Nail's car costs more than your dump.

I keep hearing about Nail's bloody car.....what does the homeless fool drive? A Lamborghini?

Had to google this .....just to get an idea of current models/prices.

"The Lamborghini Huracan is the Italian brand's most affordable model, priced from $428,000 PLUS on-road costs."

I know what I'd be doing with 450K.

At least I don't have a Walter Mitty complex and live in a housing commission flat Cheesy

LOL

Actually, I think you do. On both counts.

And as regards that car you drive, it's probably just like you. Boring and passe.

yeh your mates told me you live in a housing commission flat.

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Lisa Jones

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Re: Sydney property price collapse has started
Reply #187 - Oct 21^st, 2015 at 11:10am

Sir lastnail wrote on Oct 21^st, 2015 at 11:06am:

Lisa Jones wrote on Oct 21^st, 2015 at 9:56am:

Sir lastnail wrote on Oct 21^st, 2015 at 9:51am:

Lisa Jones wrote on Oct 21^st, 2015 at 6:54am:

Bobby. wrote on Oct 20^th, 2015 at 6:41pm:

Longy - stop posting dreams about your old fibro dump in Adelaide.

Nail's car costs more than your dump.

I keep hearing about Nail's bloody car.....what does the homeless fool drive? A Lamborghini?

Had to google this .....just to get an idea of current models/prices.

"The Lamborghini Huracan is the Italian brand's most affordable model, priced from $428,000 PLUS on-road costs."

I know what I'd be doing with 450K.

At least I don't have a Walter Mitty complex and live in a housing commission flat Cheesy

LOL

Actually, I think you do. On both counts.

And as regards that car you drive, it's probably just like you. Boring and passe.

yeh the voices in my head told me you live in a housing commission flat.

Fixed.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Sun Tzu

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Re: Sydney property price collapse has started
Reply #188 - Oct 21^st, 2015 at 12:12pm

The streets are paved with brown nuggets. Renters 25 to 34 60% and rising fast.

Quote:

Investors were also denying owner-occupiers houses they once would have bought. Before the cut in capital gains tax that sparked the boom in borrowing for investment, fewer than half the households headed by Australians aged 25 to 34 rented. Now it's 60 per cent.

Read more: theage.com.au/comment/the-house-price-bubble-is-deflating-and-we-should-be-grate
ful-20151018-gkc0yy.html#ixzz3pAFX0oAS

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Make my day

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Johnsmith

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Re: Sydney property price collapse has started
Reply #189 - Oct 21^st, 2015 at 12:24pm

Sun Tzu wrote on Oct 21^st, 2015 at 12:12pm:

The streets are paved with brown nuggets. Renters 25 to 34 60% and rising fast.

Quote:

Investors were also denying owner-occupiers houses they once would have bought. Before the cut in capital gains tax that sparked the boom in borrowing for investment, fewer than half the households headed by Australians aged 25 to 34 rented. Now it's 60 per cent.

Read more: theage.com.au/comment/the-house-price-bubble-is-deflating-and-we-should-be-grate
ful-20151018-gkc0yy.html#ixzz3pAFX0oAS

this is the real reason why investors have driven up the prices of housing stock, it's not negative gearing like nail thinks ... it's the capital gains tax concessions

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Sir lastnail

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Re: Sydney property price collapse has started
Reply #190 - Oct 21^st, 2015 at 2:16pm

Johnsmith wrote on Oct 21^st, 2015 at 12:24pm:

Sun Tzu wrote on Oct 21^st, 2015 at 12:12pm:

The streets are paved with brown nuggets. Renters 25 to 34 60% and rising fast.

Quote:

Investors were also denying owner-occupiers houses they once would have bought. Before the cut in capital gains tax that sparked the boom in borrowing for investment, fewer than half the households headed by Australians aged 25 to 34 rented. Now it's 60 per cent.

Read more: theage.com.au/comment/the-house-price-bubble-is-deflating-and-we-should-be-grate
ful-20151018-gkc0yy.html#ixzz3pAFX0oAS

this is the real reason why investors have driven up the prices of housing stock, it's not negative gearing like nail thinks ... it's the capital gains tax concessions

and the contribution from both means a shortfall of 9 billion a year of prospective tax collections Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Sydney property price collapse has started Reply #191 - Oct 21^st, 2015 at 8:19pm Read it and weep! http://m.dailytelegraph.com.au/realestate/news/sydneys-housing-market-contrasts-...
Back to top	If I let myself be bought then I am no longer free. HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415) IP Logged

it_is_the_light Gold Member Offline Christ Light Posts: 41434 The Pyramid of LIGHT Gender:	Re: Sydney property price collapse has started Reply #192 - Oct 21^st, 2015 at 8:24pm Lisa Jones wrote on Oct 21^st, 2015 at 8:19pm: Read it and weep! http://m.dailytelegraph.com.au/realestate/news/sydneys-housing-market-contrasts-... many blessings lisa .. if one owns say 3 houses how much rates is that per year ? im interested namaste
Back to top	ॐ May Much LOVE and CHRISTS LIGHT be upon and within us all.... namasté ▲ - : ) ╰დ╮ॐ╭დ╯ IP Logged

Lisa Jones

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Re: Sydney property price collapse has started
Reply #193 - Oct 21^st, 2015 at 8:26pm

it_is_the_light wrote on Oct 21^st, 2015 at 8:24pm:

Lisa Jones wrote on Oct 21^st, 2015 at 8:19pm:

Read it and weep!

http://m.dailytelegraph.com.au/realestate/news/sydneys-housing-market-contrasts-...

many blessings lisa ..

if one owns say 3 houses

how much rates is that per year ?

im interested

namaste

3 houses?

3 rates lol.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Lisa Jones

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Re: Sydney property price collapse has started
Reply #194 - Oct 21^st, 2015 at 8:27pm

Lisa Jones wrote on Oct 21^st, 2015 at 8:19pm:

Read it and weep!

http://m.dailytelegraph.com.au/realestate/news/sydneys-housing-market-contrasts-...

21 October 2015

Spring has brought about a surge in listings.

Roughly 24,000 homes are on the market for sale, compared to around 19,000 earlier this year, but long-term trends show this is still an undersupply of properties for sale.

Building activity was also below trend for almost a decade before 2013, creating a shortage of housing. That shortage is forecast to last until at least 2018 if the city’s current rate of building is maintained.

Core Logic RP Data figures show the average house takes roughly seven weeks to sell — the FASTEST among any major capital city.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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