The don't look as bad as clontarf, and at least you did not deny clontarf was part of the northern beaches like you did last time.
Clontarf is a very small suburb on the edge of the Northern Beaches, with a median house price double the Northern Beaches average. Technically it is part of the Northern Beaches, but geographically and culturally it is more akin to the North Shore (Mosman etc).
Quote:
Most have barely kept up with Inflation.
Rents generally track inflation and incomes over the long term. This is normal. Over the last 12 months, Sydney rents are up 5% on average, which is faster than inflation/incomes, but that rate of increase can't be maintained forever and I would expect rental growth to slow back down again (below inflation/incomes) in a year or two. But over the long term, rents will trend to track inflation and incomes.
So you can stop panicking Ted. Don't make the same mistake you made in 2012... losing your nerve and selling your home just before the boom. Do you remember you said in 2012 that Sydney house prices were about to crash, and gold was going to $5000? So you sold your home and piled into gold. But Sydney house prices are up 31% since you sold your home Ted. You say you sold it for a million dollars, so that's $310,000 in capital gain you missed out on (so far), which would be bad enough if you hadn't put that million dollars into gold at the peak and lost another 30% on it. You're down about $600,000 on that trade. Plus you'll be down another $70K in stamp duty if you want to buy your old house back. Ouch, that must hurt Ted? I hope for your sake your landlord isn't jacking up your rent too much? Or are you still living in your brother's shed?
Ted's typical response coming up...
'How old are you Shadow I'm not much older than you and I made heaps of money on property and I'm a share picking genius and I have more money than you and more houses than you and you only pay interest only loans so you own nothing Shadow and you missed the boom Shadow rents are falling everywhere and unemployment is at a record high and The Ponzi will collapse tomorrow how old are you Shadow I'm not much older than you how old are you blah blah blah'
Clontarf is a very small suburb on the edge of the Northern Beaches, with a median house price double the Northern Beaches average. Technically it is part of the Northern Beaches, but geographically and culturally it is more akin to the North Shore (Mosman etc).
Rents generally track inflation and incomes over the long term. This is normal. Over the last 12 months, Sydney rents are up 5% on average, which is faster than inflation/incomes, but that rate of increase can't be maintained forever and I would expect rental growth to slow down again (below inflation/incomes) over the next few years. But over the long term, rents will trend to track inflation and incomes.
So you can stop panicking Ted. Don't make the same mistake you made in 2012... losing your nerve and selling your home just before the boom. Do you remember you said in 2012 that Sydney house prices were about to crash, and gold was going to $5000? So you sold your home and piled into gold. But Sydney house prices are up 31% since you sold your home Ted. You say you sold it for a million dollars, so that's $310,000 in capital gain you missed out on (so far), which would be bad enough if you hadn't put that million dollars into gold at the peak and lost another 30% on it. You're down about $600,000 on that trade. Ouch, that must hurt Ted? I hope for your sake your landlord isn't jacking up your rent too much? Or are you still living in your brother's shed?
Ted's typical response coming up...
'How old are you Shadow I'm not much older than you and I made heaps of money on property and I'm a share picking genius and I have more money than you and more houses than you and you only pay interest only loans so you own nothing Shadow and you missed the boom Shadow rents are falling everywhere and unemployment is at a record high and The Ponzi will collapse tomorrow how old are you how old are you blah blah blah'
Well facts are facts shadow.
You came too late to the party.
I have owned multiple Sydney property long before you entered the market. With my ppor being more than ten years before you, when prices tripled or even quadrupledbefore you came along. Thats two unencumbered properties paid outright, independantly of one another.
My poor was sold in 2011, before prices in your area showed 20% drops in some places.
The other thing is, you dont actually own any property in Sydney, and never have. You pay interest only loans to a bank.
Your rents cannot even keep up with inflation anymore. And now you will sit back when prices are falling, prices will be down 20%/before you even have time to react.
Just like before, you will continually deny they are falling, like you did when we saw results at the end of 2012.
Down 600k you claim, I would say my actual wealth would exceed yours by at least one million dollars, If you want to talk dollars, because while both my properties were going up for years on end, doubling and tripling before you even entered the market.
And yes ,I am only a couple of years older shadow.
Shadow ,the fact is you are so poor, you spend everyday of your life on property forums.
Again you don't own any property, just renting it from a bank with interest only loans.
One day , you may actually own some property,but I doubt it with your Interest only loans.
One day ,you will see the bigger picture, until then, we have to put up with your delusion and cherry picked graphs. What a life you lead shadow.
Come and see me when you actually own some property, not a deposit on one while payimg interest only.
'How old are you Shadow I'm not much older than you and I made heaps of money on property and I'm a share picking genius and I have more money than you and more houses than you and you only pay interest only loans so you own nothing Shadow and you missed the boom Shadow rents are falling everywhere and unemployment is at a record high and The Ponzi will collapse tomorrow how old are you how old are you blah blah blah'
You came too late to the party I have owned multiple Sydney property long before you entered the market you dont actually own any property in Sydney and never have you pay interest only loans to a bank your rents cannot even keep up with inflation anymore my actual wealth would exceed yours by at least one million dollars both my properties were going up for years on end doubling and tripling before you even entered the market I am only a couple of years older shadow you don't own any property just renting it from a bank with interest only loans
Down 600k you claim, I would say my actual wealth would exceed yours by at least one million dollars, If you want to talk dollars, because while both my properties were going up for years on end, doubling and tripling before you even entered the market.
Reminds me of the old joke:
Person 1: "What's the easiest way to get $1M???"
Person 2: "Give $2M to Crazy Dave/Ted Bullpit to invest for you....."
Boom boom!
For Aussie property bears, "denial", is not just a long river in North Africa.....
Person 2: "Give $2M to Crazy Dave/Ted Bullpit to invest for you....."
Boom boom!
And like shadow, I doubt you actually OWN any property in Sydney or anywhere else. Just another desperate wishing prices and rents up while paying interest only loans..
Like I said, come and see me when you ACTUALLY OWN, some property in Sydney, not pretend to while paying your interest only loans.
54 perone way, asking rent Nov 2012-$1750, now $1,500 per week. 47 cutler rd asking $2,200 in Oct 2007, now $1,650. 26 Amiens rd asking $1,800 in Aug2011, now $1,500. 25 gordan st asking $1,800 in Jan2012,now $ $1,295. 3 Moore st, asking rent 2011- $1500, now $1,400. 3 gordon st, asking $1,300 in march 2011, now $950. 96 cutler rd, asking $1,600 in march 2006, now $1,400 8 Kananga cres, asking $1,195 in July 2007, now asking $1,200.
It doesn't mean rents rose for every single individual home in Australia. Rents in the homes you listed may have fallen for many reasons - perhaps the home fell into disrepair, or the view was blocked by new dwellings, or new owners have moved into the top floor and are only renting out the bottom floor now. Whatever the reason, posting individual homes where the rent fell doesn't change the fact that rents are rising in most places, as confirmed by the ABS, RP Data, Residex, APM and SQM Research.
It doesn't mean rents rose for every single individual home in Australia. Rents in the homes you listed may have fallen for many reasons - perhaps the home fell into disrepair, or the view was blocked by new dwellings, or new owners have moved into the top floor and are only renting out the bottom floor now. Whatever the reason, posting individual homes where the rent fell doesn't change the fact that rents are rising in most places, as confirmed by the ABS, RP Data, Residex, APM and SQM Research.
We don't want the FAKE data, we just saw REAL EXAMPLES from your area, where rents are being smashed.
Was that part of the cycle too......
The new cycle, thats looks NOTHING at all like the old one you were all hoping for.....
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