Tuesday, 20 February 2018

As we predicted -Sydney home prices fall for fifth consecutive month

Best Asia real estate editor’s comments:

Editor Lawrence dictating newsletter well in Macau next two years ago
As my long time readers are well aware my accuracy level on real estate predictions  around the world for the past 30 years has been almost 95%.

Real estate markets are long-term markets and therefore very easy to predict.

In January of this year I made the following predictions below for Australian real estate now they are coming true.

2018 Predictions for World’s Real Estate Markets:
Jan 2018

"Most of Australian Real Estate Will Fall in 2018:

In the last couple years Bellefontaine became increasingly bearish on Australian real estate for the same reason that he became bearish on Singapore real estate three years ago. The buyers were not Australians but Chinese speculating on Australian real estate who did take into consideration whether they obtained a positive cash flow. 

The Australian government has along with the Canadian government recently put in new laws to curtail speculation by foreign investors. Foreign investors will feel less comfortable will find other greener pastures."

If you want to find out about my future predictions for markets around the world and especially Bali attend my next free seminars coming up next week on the of February 28th and 3 March. Click Here For a Reservation or see further information below the article on Sydney real estate.


Feb 21-2018

Sydney home prices fall for fifth consecutive month in ‘controlled slowdown’

SYDNEY home prices look set to fall for the fifth consecutive month as the current market downturn gathers momentum, but experts remain divided on how long the slowdown will last.

The Daily TelegraphJANUARY 31, 20182:08PM

Sydney home prices are set to finish January lower than they were at the start of the year.Source:Supplied
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SYDNEY’S median home price looks set to fall for the fifth consecutive month as the current market downturn gathers momentum.

Preliminary data released by research group CoreLogic showed the median dropped 0.8 per cent over the first 29 days of the month in what the group described as a “controlled slowdown”.

CoreLogic head of research Tim Lawless said the fall was minor, representing only about a $7000 drop, and was consistent with price movements over previous months.
In December the median price fell 0.9 per cent to hit $895,000, while in November and October the falls were 0.7 and 0.5 per cent, respectively.

Activity in the market was largely flat before that, with July representing the last month in which Sydney home values grew.
Much of the recent slowdown has been the result of bank restrictions on loans to investors, particularly interest-only loans and those involving deposits at less than 20 per cent of the property’s value.

The frantic pace in which prices went up in recent years — Sydney’s median home price remains 75 per cent higher than it was in 2012 — has also failed to match growth in wages, creating an affordability barrier for buyers that has sapped housing demand.

While Sydney values slow, Hobart, once the nation’s weakest housing market, is booming. Picture: Aerial Vision AustraliaSource:News Corp Australia

CoreLogic publishes its final growth figures for January on Thursday and Mr Lawless said he expected the results to show a softer Sydney housing market pulling down national growth figures.
The median price of a home across Australia as a whole would likely drop 0.5 per cent for the month, with the Sydney housing market the weakest of the nation’s five biggest capitals, he said.

“The Sydney market peaked back in July last year and values have been gradually falling since that time (but) it looks like there is a bit of momentum gathering in that downturn,” Mr Lawless said.

The median price of a Sydney home peaked in July and has since slipped below $900,000 again.Source:Supplied

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The market wasn’t about to crash and was instead moving through a controlled slowdown that would only impact recent buyers, he added.

“For the vast majority of homeowners they will still see fairly significant equity in their properties. Only the people that bought around the middle of last year or later will have seen a fairly subtle decline in the values of their property,’’ Mr Lawless said.

Property experts remain divided over how long the current downturn will last.

An analysis published by Macquarie this week predicted that Sydney house prices had already stopped falling, although the group did not expect a major bounce back in price growth like the one recorded in 2016, when typical prices climbed nearly 15 per cent over the year.

Other commentators such as SQM Research’s Louis Christopher expect banks may reopen their lending books to investors midway through the year after falling well-below restrictive targets set by the Australian Prudential Regulation Authority. This would pave the way for modest Sydney price increases toward the end of the year, he said.

CoreLogic’s Cameron Kusher, on the other hand, said weaker housing market conditions would likely continue throughout 2018.
Originally published asSydney prices fall for fifth month in row

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Speaker Lawrence, Notaris Wife Azizah and Family at his Bali Paradise Beachfront Estate
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Bali seminar attendees January 2018

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