Sydney Commuter Towns - 4 bed home for around $600k?

[RJFleming]

Okay, so while I am here I have another question.

 

I have noticed in a few other threads people intimating that a property price correction is due in Australia. I was wondering if anyone here thinks this is actually likely to happen?

 

I can see the level of affordability in places like Sydney is getting high, but at the same time it is Sydney, so like London I am inclinded to believe it will be protected from any kind of correction?

 

Does anyone have any thoughts on this?

 

The fabled property price correction. Andrew, this has been floated for a long while. Whilst there has been some corrections in respect to capital growth and median house prices, these are generally within areas which by and large where over inflated due to their proximity to certain areas within Sydney, and /or within the over $2m bracket. As a point of note median house prices in every capital city within Australian grew again within the last quarter (sorry cant remeber the report, think either APM or RP Data).

 

Ultimately there are a number of areas within Western Sydney (predominatley) which have infrastructal /regentrification projects earmarked for them, this in part to upgrade /compliment exisiting facilities and in part to allow for the increase within the projected population of the city. This could see certain areas rise (especially if there is an upgrading of transport links). Also consider that in an election year (with Western Sydney and keen political battleground) that we could see more promises for funding etc all of which may see developer /investors or home buyers look to cash in.

 

Sydney only has two areas in which the city can grow realistically, North West and South West. With the rate with which the population is growing, property prices nearer to the CBD's and the Beaches will always hold their perceived 'overpriced' value becuase of the lifestyle benefits and proximity to the city.

Edited February 22, 2013 by RJFleming

[Rupert]

Okay, so while I am here I have another question.

 

I have noticed in a few other threads people intimating that a property price correction is due in Australia. I was wondering if anyone here thinks this is actually likely to happen?

 

I can see the level of affordability in places like Sydney is getting high, but at the same time it is Sydney, so like London I am inclinded to believe it will be protected from any kind of correction?

 

Does anyone have any thoughts on this?

 

Been reading about that since I applied for my visa in 2009.

[CrozierFamily]

The fabled property price correction. Andrew, this has been floated for a long while. Whilst there has been some corrections in respect to capital growth and median house prices, these are generally within areas which by and large where over inflated due to their proximity to certain areas within Sydney, and /or within the over $2m bracket. As a point of note median house prices in every capital city within Australian grew again within the last quarter (sorry cant remeber the report, think either APM or RP Data).

 

Ultimately there are a number of areas within Western Sydney (predominatley) which have infrastructal /regentrification projects earmarked for them, this in part to upgrade /compliment exisiting facilities and in part to allow for the increase within the projected population of the city. This could see certain areas rise (especially if there is an upgrading of transport links). Also consider that in an election year (with Western Sydney and keen political battleground) that we could see more promises for funding etc all of which may see developer /investors or home buyers look to cash in.

 

Sydney only has two areas in which the city can grow realistically, North West and South West. With the rate with which the population is growing, property prices nearer to the CBD's and the Beaches will always hold their perceived 'overpriced' value becuase of the lifestyle benefits and proximity to the city.

 

 

Thanks for coming back to me on this. I thought it sounded a bit pie in the sky, but I just wanted to check if there was something on the horizon that I was not aware of that may indicate a drop was in the offing!