Does Sydney property still have growth left? The experts give their views.; Margaret Lomas, Shame Oliver, Louis Christopher, Terry Ryder, Andrew Wilson
It is still going gangbusters in my area, with the stock even lower recently than in the previous months, so from a purely demand/supply perspective - huge demand and very limited supply..... 1/3 of previous volumes from just a couple of years ago..... I had thought things would pick up a bit more, but not yet... slow start to spring!
Bare in mind our policy makers have the benefit of others' unfortunate hindsight.
Do you really believe we won't be able to fill the newly constructed homes?
As far as others are concerned we have the worlds most liveable cities and a falling currency - what's not to like?
This has all happened before, albeit with a different demographic, and for different reasons.
I did not say they won't be able to fill them, just that with falling jobs and wages they won't be able to find anybody to pay the rent they thought or hoped for or were getting previously. They won't be able to get enough rent to pay the interest on that over leveraged loan, let alone anything else.
As for your comment , this has all happened before. Not on this level, weather it be record low rates pumping all this building, which is also at a level never seen before. Or our jobs and wages falling becuase of the massive rise of cheap asain labour over the last ten years, and the rapid rise in tech and computerised auto mation.
Do you really not think this is the reason for all the job losses and wage falls ?
And what is going to prevent or stop this from continuing ?
This has not all happened before on a level we are dealing with now.
"Now is the time to also be considering the ripple effect - already the Wollongong and Central Coast markets, which both remain highly affordable with strong rental yields, are seeing increased attention and property value increases"
There is a bit of truth in the media occasionally. This is happening right now. wollongong real estateWollongong has entered double digits after a long spell and with infrastructure and Sydney refugees its got room to go further. Further down the coast is just getting started.
"Now is the time to also be considering the ripple effect - already the Wollongong and Central Coast markets, which both remain highly affordable with strong rental yields, are seeing increased attention and property value increases"
There is a bit of truth in the media occasionally. This is happening right now. wollongong real estateWollongong has entered double digits after a long spell and with infrastructure and Sydney refugees its got room to go further. Further down the coast is just getting started.
I agree with this as well. Very affordable property in Wollongong and Central Coast. With travelling times on par (or not much more) than far Western suburbs to CBD and fringe jobs location + well serviced by (admittedly slow) trains + better amenity (coast and community) = definitely room for strong growth.
In the future people will talk about the gentrification of the Central Coast and those lucky people that bought a 3x2 for $300-400k.
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