Bottom Called In Sydney

[Time to raise the rents.]

http://www.smh.com.au/news/national/bust-i...6750168495.html

[Jason]

Time to raise something, do you really believe this?

I do admire you optimism! Reminds me of my mum when we were eating meat loaf.

[the end is a bit nigher]

Nice article - 'Property experts' ROFLMAO - have phil and krusty gone down under!

[OnlyMe]

So the correction that never was going to happen has actually been going on two years and has now stopped?

[vinny]

" Bottom called in sydney" Yep. And ar5e posted in UK.

[Saving For a Space Ship]

Aw, wake up & read the headline properly TTRTR.

'Bust is over so sit back, wait for the next bum'

They were talking about the gay areas of Sydney where they are always 'calling for more bottoms' to 'forget the busts' & come out of the closet.

[Rapid Descent]

How about a HPC sweepstake on how often VIs will call the "bottom of the market" over the next couple of years?

No point in starting with anything smaller than 1,000 times I think

[gone west]

http://www.smh.com.au/news/national/bust-i...6750168495.html

<{POST_SNAPBACK}>

Ahem.

The slide is over. Property experts say the Sydney market has "bottomed out" - though it is unclear how quickly it will climb, or how far.

or continue sinking. What is clear is that nothing is clear.

I like this bit.

And it was "absolutely" possible that the frenzied interest and panic buying which characterised the market between 2001 and 2003 could return.

The return of panic buying. This has got to be K & P.

[Time to raise the rents.]

Typical and expected responses. Haven't you got anything more creative?

When I first joined the forum I stated my opinion that Australia would crash and have stuck to it. But I also said that Australia was a good example to the UK's now modernised housing market with THA 1988 & amended in 1996 being the modernisation.

So the UK's last bust was an extreme that is unlikely to be repeated for some time & certainly not in this cycle. So far I have been right. Australia was a good example because last time around the UK bust badly whilst Australia suffered mildly due to more investor activity than in the UK.

And if Sydney really does bottom out now, it will be a perfect example for you bears to turn bulls because Sydney is so much more inflated than anywhere in the UK.

[Guest consa]

Typical and expected responses. Haven't you got anything more creative?

When I first joined the forum I stated my opinion that Australia would crash and have stuck to it. But I also said that Australia was a good example to the UK's now modernised housing market with THA 1988 & amended in 1996 being the modernisation.

So the UK's last bust was an extreme that is unlikely to be repeated for some time & certainly not in this cycle. So far I have been right. Australia was a good example because last time around the UK bust badly whilst Australia suffered mildly due to more investor activity than in the UK.

And if Sydney really does bottom out now, it will be a perfect example for you bears to turn bulls because Sydney is so much more inflated than anywhere in the UK.

<{POST_SNAPBACK}>

The only thing I see that has bottomed out is your avatar.

Sydney bottomed out, hmmm slightly contradictory to this article, still a long way to go yet.

So in a couple of weeks it bottomed

http://www.smh.com.au/news/national/harder...l?oneclick=true

[Guest wrongmove]

From the article:

"...Agents and analysts point to key indicators of a revival:

median house prices have fallen, encouraging buyers into the market;..."

Well they certainly look on the bright side. Prices have fallen, therefore prices will go up. So in UK, prices have risen. Prices will therefore drop.

[Freelance Mycophagist]

TTRTR,

Is your bike rider having an epileptic fit?

[BandWagon]

McGrath Estate Agents chief executive officer John McGrath said next month would mark the end of the two-year correction, which could signal the start of a couple of steady years before another period of growth.

"Assuming interest rates don't go any higher and assuming the economy holds stable, I think the next market move will be up," he said.

Bl00dy hell, an estate agent telling us now is a good time to buy.

Whatever next?

Corrupt politicians? Vain celebrities?

It looks like journo's in Oz are quite capable of turning out the same drivel that we get over here.

Edited September 18, 2005 by BandWagon

[Time to raise the rents.]

Now come on..... ......what's more important, the debate, or the rider???

When I get back to Sweden & my nomal internet connection, if he's still like that, he's fired!!!!

[Time to raise the rents.]

The only thing I see that has bottomed out is your avatar. 

Sydney bottomed out, hmmm slightly contradictory to this article, still a long way to go yet.

So in a couple of weeks it bottomed  

http://www.smh.com.au/news/national/harder...l?oneclick=true

<{POST_SNAPBACK}>

With home prices in the city still about seven times the average annual wage - well above historic ratios of five times typical pay - economists are predicting more falls over the next five years

Isn't that interesting. A housing market with modern tenancy laws has 5* as the measure.

See that the UK isn't overvalued yet????

[Guest consa]

With home prices in the city still about seven times the average annual wage - well above historic ratios of five times typical pay - economists are predicting more falls over the next five years

Isn't that interesting. A housing market with modern tenancy laws has 5* as the measure.

See that the UK isn't overvalued yet????

<{POST_SNAPBACK}>

I think you may find that the UK has fueled the boom in many countries around the globe from MEW.

You see once sheeple realised their gain in the UK they bought homes abroad, this cause local markets to surge, then the locals cottoned on and jumped on the bandwagon and so on and on.

[Time to raise the rents.]

Simple theory Consa?

Simple enough to be shot down in flames.....

[Guest consa]

Simple theory Consa?

Simple enough to be shot down in flames.....

<{POST_SNAPBACK}>

Possibly, but reality not theory

[CrashCrash]

Possibly, but reality not theory

<{POST_SNAPBACK}>

Hi TTRT

So, there was a bust in Sydney?

When is it going to happen in the UK ?

[Guest consa]

Simple theory Consa?

Simple enough to be shot down in flames.....

<{POST_SNAPBACK}>

http://www.telegraph.co.uk/global/main.jht.../pworldly05.xml

Some 18,000 Britons bought property in the United States last year, primarily in the sunshine state of Florida. Nearly five million Britons visit the Orlando area annually. Ideally, if buying for investment, you want a four-bedroom villa with pool and air-conditioning, within 15 minutes of Disney, which sell for about £190,000. Such a property could command £400 a week rental, which must be declared.

http://www.thisismoney.co.uk/mortgages/art...22&in_page_id=8

Some 393,000 Britons now have a second property, up from around 280,000 ten years ago.

The figures reveal a huge increase in the desire for a holiday home abroad. Foreign purchases rose 85% over the period - up from 89,000 to 165,000.

The total for second homes in Britain went up by a more modest 37,000 - 20% - to 228,000. Abroad, Spain is the most popular place for Britons to buy, ahead of France, Portugal and Italy. The US, particularly Florida, is also becoming popular.

http://www.thisislondon.co.uk/news/busines...id84281?source=

Increasing numbers of people are funding overseas home purchases by releasing equity in their homes. Hamilton said: 'Owning a property abroad is no longer for the well off, it is an achievable goal for many people.'

[Time to raise the rents.]

Hi TTRT

So, there was a bust in Sydney?

When is it going to happen in the UK ?

<{POST_SNAPBACK}>

After the Olympics.

[Guest wrongmove]

Isn't that interesting. A housing market with modern tenancy laws has 5* as the measure.

<{POST_SNAPBACK}>

Er, isn't that a housing market with negative gearing has 5x as the measure ?

[Clouseau]

After the Olympics.

<{POST_SNAPBACK}>

Why would the Olympics affect anything other than local house prices?

[BandWagon]

Er, isn't that a housing market with negative gearing has 5x as the measure ?

<{POST_SNAPBACK}>

The success of negative gearing is a myth that will die with the Australian housing bubble.

Bit like dot-coms where it was never important to make money, just as long as the share price kept going up.

Very,very basic economics, but it seems BTL idiots are getting it wrong in Australia.

[ajh]

And if Sydney really does bottom out now, it will be a perfect example for you bears to turn bulls because Sydney is so much more inflated than anywhere in the UK.

<{POST_SNAPBACK}>

more inflated than anywhere in the UK

Yeah, right.

Today's (Australian) Sunday Telegraph has a full page advertisement headlined "Sydney's affordable again", referring to the following development:

Ropes Crossing

The ad. offers a 3-Bedroom, 2-bathroom, detached house with double garage for $A350,000, which is 140,000 pounds. (I will admit there's a small garden, and that's the outer suburbs of Sydney.)

I was in England last year, and I can think of areas where that would be considered quite good value.