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Sydney Property Crashing Over 45%

#housingmarket #sydney #realestate
Sydney real estate is crashing back down to earth, with some properties falling over 45%.

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35 Comments

  1. People who has come to Gold Coast is now panick selling at a loss because they realize that they canā€™t find neither the jobs nor the lifestyle they expected.

    Some properties on the Gold Coast have dropped between 50K to 100K from December 2022 to 2023.

    The crash on the Gold Coast is just starting and it will get worse and worse. Late 2023/ early 2024 will be the time to buy.

    At the pace the interest rate is going, plus Inflation not yer getting under control, It wouldnā€™t surprise me to se another 20% to 30% price drope. In addition, once interest rates picks in May – June 2023, the interest needs to remain at pick level for a few months at least to control inflation. So this together with Fix Rates expiration, the housing crash in Australia is inevitable.

  2. These prices have got to be over-quoting and paper losses. If they were for real then Australia would be a much better place to live for the average citizen. It's interesting how in NZ the RBNZ are deliberately seeking to induce a recession and a steep decline in property prices while in Australia we are trying our very best to avoid an official recession. Although it's supposedly outside of their mandate, I think the RBA will reverse course if there are significant price falls. Time will tell which was the better option.

  3. Rates need to be above the inflation rate of cir. 7% to stop the inflation spiral…this is what happened in the 70s/80s.. few understand this. If the RBA doesn't raise rates above the inflation rate then spiralling costs will hit your pocket…few understand this. So either way, the RBA is stuck between a rock and hard place…few understand this.

  4. Be careful some properties were sold off the plan before construction by developers to " family " at very high prices so that established what they would be worth when built so finance companies would lend a lot more money . It then became easier to sell other appartments to suckers who overpay . The salesperson saying these ones were sold for X dollars . The initial ones on contract always come back on the market near completion of the building . Then the Developer / builder goes into voluntary liquidation so they don't have to pay tax etc .Another scam is the Developer and the Builder are related in some where are you? . The developer refuses to pay foe a lot of things , blames the builder . Then they bankrupt the building company and the Developer never pays for what he should of and keeps some of appartments at a much lower book value so minimising any tax he would have to pay .

  5. Sydney apartments buildings 30 percent have problem and a other issues as well.
    It must be overseas Chinese or Indian must have bought it.
    These are the same people who wanted to run away from their country due to financial crimes they did in their own countries. All corrupted and black money people

    No normal person will pay such insane prices

  6. The higher prices went up the bigger the falls will be . The gains over the pandemic were ridiculous but actually since the 2008 gfc . Interest rates have been silly low for over a decade and australia and nz had property correcting over 2018 and 2019. There would of been a crash then if the pandemic didnā€™t save it. Now the market does a big catchup, DOWN. Demand has been insane with banks giving buyers anything they wanted, especially investors. Imagine some areas that went up insane amounts that now have no demand. Drops of 50% are very likely. Specially 1 to 3 million dollar property. Investors will get out and FHBers will buy there property, like for like. And in the middle, owner occupiers. Keeping property short term and buying and selling to each other, will stop. People will simply keep what they have

  7. Prices arnt dropping. Auction clearance rates are but if you look at a specific area houses are still selling at the same price they were a year ago at the peak. Interest rates are too low to have an impact. In Australia only if rates hit over 6% you will see some drops. Most of the market is foreign buyers and boomers who don't need the loan and can buy outright. How can Sydney have property higher than new York which is the financial capital of the world?

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