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Operation Antispruik In The Northern Beaches

More analysis of recent price cuts from the real estate portals, courtesy of Cookie, this time looking at the Northern Beaches in NSW. Prices are falling, and many households are in a pickle!

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Written by Walk The World

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  1. Chortle! I remember my grandfather buying a house in the balgowlah area in 1970 for $14000. A lot of those areas that are seen as upper class now were nothing so special then. Crows Nest for example (which is seen as a prime suburb now) was a bit run down in a lot of streets.

  2. Median income and median disposable income Vs median house prices in these expensive postcodes clearly indicates that the residents are not as financially comfortable as one would think at first glance. I would say that there is a gap between what people appear to have and what they actually have. I currently operate a little cafe which I own freehold. Prices for food are between $6.50 and $15.50. The amount of customers who park their $80k utes and then come in and complain about items going up a dollar is staggering. They are all up against it, paying off their big cars, big houses and flash lifestyles trying to maintain a make-believe lifestyle.

  3. Well then. Seems like its getting even harder for home ownership and only getting worse. Not only interest rates going up, banks are cutting lending capacity a lot faster and more then the prices of properties dropping. It only means that people will now have to save more and faster. Longer hours, 2-3 jobs, cutting back on everything or just rent for life. Maybe Putin will send a nuke our way which will make every property worth nothing.

  4. Great content as always if you could do one on the Sunshine Coast in particular post codes 4551 Caloundra/Golden Beach/Moffat Beach, Maroochydore and surrounds 4558, Buderim and surrounding areas 4556 and Coolum 4573, thanks in advance!

  5. Interesting look at how the aspiring class are also getting taken out.
    though it seems if you are on a income over 150k a year, you should be fine from all the problems we see here.

    Unless you have been very foolish with debt.
    This is a good sign – even if others think a K shaped recovery is a bad thing.

    In my opinion a K shaped recovery is a good thing, and I want more people of wealth to survive – as long as we don't use housing as betting chips, and the government incentivizes investing in small business and stock market after all this to help boost jobs and GDP growth.

    If they don't it's all a big bucket of dicks and we all get blind folded and bob for apples.

  6. Mona Vale 2103. 73% of renters in stress while 0% of borrowers in stress. It seems both avg owner & renter have the same disposable monthly income of $6808. The table indicates the avg renter pays less than the avg borrower.
    If both have the same disposable income, why are more than 2/3rds of renters stressed while borrower stress is 0%?

  7. Thanks for this! Can you please dedicate an episode to the Northern Suburbs of NSW? So basically the suburbs owned by the Kuringai Council areas?? Very affluent but i wonder if its as bad as the Norther Beaches

  8. There must be heaps of million airs over in that state . We need more cash in w.a to keep up with those prices “(enough to fill the Kalgoorlie super pit with cash to the brim) “ post code for norsman 6443 and Merredin 6415 , cheers Martin

  9. It seem most sales are down between 10-15%, these are only early days, we have to return to the mean, that's about 40-50%, anything else is just a bubble and risky when a another crash comes.

  10. Thank you for an informative show. If you could please review the lower north shore of Sydney. If I remember correctly these suburbs had large falls in the 1990 property correction. Boom and bust suburbs. There were a large number of forced sales. Are we going to have a repeat of this?

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