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Prices expected to accelerate in Sydney’s Spring quarter; NOW OR NEVER FOR WORRIED BUYERS
Topic Started: 25 Sep 2016, 09:17 AM (7,486 Views)
Bardon
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Its a very worrying time for those that have been considering buying, they have closely watched the prices rise in front of them and they now realize that it wont stop and thatt the first house they considered buying a short while ago is now way above their buying range. They now fear that they will miss out on getting on the ladder altogether. It seems that it is all to hard at times for would be owners.

FOR Cem and Rana Akilli deciding to take a step up the property ladder was a now or never moment.

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After eight years in their two-bedroom North Strathfield apartment the married couple are selling up and are on the house hunt in Carlingford- 14km from their current burb. Mr Akilli said after seeing prices in his patch shoot up they were concerned if they didn’t sell now they’d never be able to afford a freestanding house.

“Now that we have a daughter we really want to move to a house but we wouldn’t be able to afford one in North Strathfield anymore,” Mr Akilli, who is now searching further out, said.

“We paid in the $400,000s when we bought in 2008 and we’re hoping to get about double that.”

Mr Akilli is hoping to take advantage of the inner west’s high clearance rates by sending the unit, at 105/23 George Street North Strathfield, in three weeks time.

http://www.dailytelegraph.com.au/realestate/news/nsw-real-estate-prices-expected-to-accelerate-in-sydneys-spring-quarter/news-story/cc8695115c35200116596c6e61ef3d08
Edited by Bardon, 25 Sep 2016, 09:21 AM.
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Simon_S
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Bardon
25 Sep 2016, 09:17 AM
Its a very worrying time for those that have been considering buying, they have closely watched the prices rise in front of them and they now realize that it wont stop and thatt the first house they considered buying a short while ago is now way above their buying range. They now fear that they will miss out on getting on the ladder altogether. It seems that it is all to hard at times for would be owners.

FOR Cem and Rana Akilli deciding to take a step up the property ladder was a now or never moment.

Posted Image

After eight years in their two-bedroom North Strathfield apartment the married couple are selling up and are on the house hunt in Carlingford- 14km from their current burb. Mr Akilli said after seeing prices in his patch shoot up they were concerned if they didn’t sell now they’d never be able to afford a freestanding house.

“Now that we have a daughter we really want to move to a house but we wouldn’t be able to afford one in North Strathfield anymore,” Mr Akilli, who is now searching further out, said.

“We paid in the $400,000s when we bought in 2008 and we’re hoping to get about double that.”

Mr Akilli is hoping to take advantage of the inner west’s high clearance rates by sending the unit, at 105/23 George Street North Strathfield, in three weeks time.

http://www.dailytelegraph.com.au/realestate/news/nsw-real-estate-prices-expected-to-accelerate-in-sydneys-spring-quarter/news-story/cc8695115c35200116596c6e61ef3d08
Hmmm.....Lots of emotive language.

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It seems that it is all to hard at times for would be owners.


Its even Harder after you buy with all that Hard Work and sacrifice.

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Mick
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Theres no end in site for the sydney boom and you gotta feel sorry for the poor mugs trying to get into the market today
My bro sold his house in 2011 and the idiot has been regretting it since, by my estimates it would be worth 600-700k more now than what he sold it for
It means he can never get back in to the market because he'd have to swallow his pride and pay nearly double what he sold for to get the same quality house by the time you add the stamp duty and all the rent hes paying hes down a small fortune
So now hes stuck in the rental trap for the rest of his life because of one dumbshit move
I reckon this sydney booms only half way through and theres another 60-70 pc upside
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Bardon
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If it were me and just say I was in John Frums shoes then I would keep taking the shit hot Sydney rental lease that I am on now and chuck a lazy $50-100k seed capital into Brisbane real estate.
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Simon_S
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Mick
25 Sep 2016, 10:39 AM
Theres no end in site for the sydney boom and you gotta feel sorry for the poor mugs trying to get into the market today
My bro sold his house in 2011 and the idiot has been regretting it since, by my estimates it would be worth 600-700k more now than what he sold it for
It means he can never get back in to the market because he'd have to swallow his pride and pay nearly double what he sold for to get the same quality house by the time you add the stamp duty and all the rent hes paying hes down a small fortune
So now hes stuck in the rental trap for the rest of his life because of one dumbshit move
I reckon this sydney booms only half way through and theres another 60-70 pc upside
Any facts to support your view this is only "Half Way Through"? Is that Just a Feeling..............Sorry emotion. How did you come up with 60-70%?

With all that money he made in 2011 he can now set himself up with an Income Strategy that will not only cover his Rent but also create wealth into the Future.

WHat has been the Return on his money since 2011? Should be at least 4-5% in 5 years on what......$650K

$650K with $200 in weekly contributions @ 5% ended up with $893K in 5 years..............And $1.7 million in 15 years.

SO while these idiots Work Hard and Sacrifice he's already working on his retirement.
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John Frum
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Bardon
25 Sep 2016, 11:04 AM
If it were me and just say I was in John Frums shoes then I would keep taking the shit hot Sydney rental lease that I am on now ...
yup, when it comes to buying here I'm out - We got a nice rental on a big block less than 30 mins bus ride from CBD. Wife still livid that I vetoed the purchase 3 years ago but she's not the one bringing in the big kahunas, so she can deal with it. Also I'm looking at a couple of opportunities in I.T in the States (Amazon/eBay and the like are hoovering up aussie developers ATM) so I might just move there if the crash doesn't materialise soon.

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... and chuck a lazy $50-100k seed capital into Brisbane real estate.


meh, went up with the missus a couple of weeks ago to check out some properties. It's certainly a lot nicer than the swampy bogan infested backwater I passed through on my after-school coastal pilgrimage in the 90's. In particular Indooroopilly certainly has some magnificent centrally located old family homes in our $1.1 - 1.3 mil range, not like the red brick pieces of shit on 400sqm you get in my part of Sydney.

Spoke to a lot of REAs that kept telling me the boom is about to arrive, but when I mentioned this in passing to a lot of the punters I bumped into (and yes they're generally a much friendlier bunch) they said that REAs have been calling am imminent boom in Brisbane for about 20 years, and prices have generally been pretty stable. A lot of them were also complaining about 中国人 outbidding them - some things never change, eh?

The sheer number of apartments along the waterfront looked a bit ominous.




Edited by John Frum, 25 Sep 2016, 12:29 PM.
"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.
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Mick
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Simon_S
25 Sep 2016, 11:10 AM
WHat has been the Return on his money since 2011? Should be at least 4-5% in 5 years on what......$650K
4-5 pc after tax are you dreaming ?
Your lucky to get 1 pc these days
He's quickly going through his capital on rent payments, its cost him 200k in rent so far so his capitals going backwards
He thought he was going to buy back into sydney after the legendary crash but the plan backfired badly !
Hard to relax in retirement when your forking out 40k ++ a year to a land lord , it means working forever
He's late 40s now and if he lives to 100 thats millions and millions of dollars wasted on rent and nothing left for his son to inherit
Land lord will he happy I suppose
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Bardon
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John Frum
25 Sep 2016, 12:25 PM
Also I'm looking at a couple of opportunities in I.T in the States (Amazon/eBay and the like are hoovering up aussie developers ATM) so I might just move there if the crash doesn't materialise soon.
It looks like you are heading stateside then and good luck with that.

Dont worry you wont lose touch as I will keep you abreast of the actual inceases to the capital growth rates in and around Brisbane
Edited by Bardon, 25 Sep 2016, 01:48 PM.
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Simon_S
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Mick
25 Sep 2016, 01:10 PM
4-5 pc after tax are you dreaming ?
Your lucky to get 1 pc these days
He's quickly going through his capital on rent payments, its cost him 200k in rent so far so his capitals going backwards
He thought he was going to buy back into sydney after the legendary crash but the plan backfired badly !
Hard to relax in retirement when your forking out 40k ++ a year to a land lord , it means working forever
He's late 40s now and if he lives to 100 thats millions and millions of dollars wasted on rent and nothing left for his son to inherit
Land lord will he happy I suppose
You did say 2011 did you not? Rates were higher in 2011.

Yeh.....all that extra money earned does attract tax but the Govt doesn't take as much as you would have me believe.

So you would rather earn less i take it?
Quote:
 
He's quickly going through his capital on rent payments, its cost him 200k in rent so far so his capitals going backwards

Oh...So he had the money to cover his Mortgage but not the Rent? Funny that..........
Quote:
 
Hard to relax in retirement when your forking out 40k ++ a year to a land lord , it means working forever

Not when you return is greater than your rent............

But hes made $223K in 5 years just in interest alone....... He'll continue to make more every year.

But wait until Interest Rates start to rise and Home owners get raped by their Banks..........And Hes getting even Greater Returns.



Edited by Simon_S, 25 Sep 2016, 04:20 PM.
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herbie
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John Frum
25 Sep 2016, 12:25 PM
yup, when it comes to buying here I'm out - We got a nice rental on a big block less than 30 mins bus ride from CBD. Wife still livid that I vetoed the purchase 3 years ago but she's not the one bringing in the big kahunas, so she can deal with it. Also I'm looking at a couple of opportunities in I.T in the States (Amazon/eBay and the like are hoovering up aussie developers ATM) so I might just move there if the crash doesn't materialise soon.




meh, went up with the missus a couple of weeks ago to check out some properties. It's certainly a lot nicer than the swampy bogan infested backwater I passed through on my after-school coastal pilgrimage in the 90's. In particular Indooroopilly certainly has some magnificent centrally located old family homes in our $1.1 - 1.3 mil range, not like the red brick pieces of shit on 400sqm you get in my part of Sydney.

Spoke to a lot of REAs that kept telling me the boom is about to arrive, but when I mentioned this in passing to a lot of the punters I bumped into (and yes they're generally a much friendlier bunch) they said that REAs have been calling am imminent boom in Brisbane for about 20 years, and prices have generally been pretty stable. A lot of them were also complaining about 中国人 outbidding them - some things never change, eh?

The sheer number of apartments along the waterfront looked a bit ominous.



Appears ya might have vacillated just a bit too long John?

Wif that being a pretty dangerous trap for bears I reckon. (At least in part based on me own personal experience.)

Any, all tha best wif it all regardless!

PS: You could hurt me feelin's wif that "swampy bogan infested backwater" crack; If I had any ... :)
Edited by herbie, 25 Sep 2016, 04:29 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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