Oh look, it's those kindly investors falling back onto their negative gearing buffers to subsidise us renters again!
Not only that, but by mainly taking on interest-only loans, this means big, big profits for the banks, and so for me as a banking contractor a likely substantial increase in my daily rate.
All hail the all out bull assault on Sydney - the gift that keeps on giving.
And continues unabated.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
The map in the article shows asking rents having risen in the vast majority of suburbs. Especially those lower end / median suburbs where investors tend to buy? For example - South Penrith, house rents up +5.2% year/year. Winston Hills +6.2%, Villawood +7.5% and so on.
This data would seem to agree with the Residex and RP-Data figures as well which all say Sydney rents are up about 5% on average in the past year.
The map in the article shows asking rents having risen in the vast majority of suburbs. Especially those lower end / median suburbs where investors tend to buy? For example - South Penrith, house rents up +5.2% year/year. Winston Hills +6.2%, Villawood +7.5% and so on.
This data would seem to agree with the Residex and RP-Data figures as well which all say Sydney rent are up about 5% on average in the past year.
Housing rentals are pretty stagnant in my area, but the market for them here is so small that it's not even listed.
Once the panic sets in as people see the big losses coming from the 'had to get on the ladder' brigade that will, along with stagnating wages and rising unemployment and gov't/private debt levels, drag the rest of the market down with it.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
In response to the rising prices there have been a lot of apartments built.
That should keep a lid on both prices and rent for the time being.
It's nothing new & it's exaggerated .
I've never liked apartment investing ,there's too much volatility involved , its a glut, that's the first prop type mode that cops it ..when it's been lots of development.
There's also suburb variances in how rents are affected. Just like Perth.
Falling rents are not affecting everyone..
So keep paying the rent.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
In any construction boom, that's underway within the inner city precincts there's the danger of an oversupply ..something that some investors don't think in the long term.
Anywhere you can build a large amount of apartments on a smaller block awlays has the greater risk of a lot of stock being built. This is relevant for any major city...
You are going to get growth usually from the smaller complexes rather than those larger complexes, also notice if it's in one-off or unique locations.
Yes, as time goes, more apartments will no longer be restricted to the CBD.
But gonzo...
Don't bag the value of owning inner city..I own some & I'd rather have it then a place 25kms out of Perth.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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