Steve2009

I stated an opinion. Your own figures (dubious as they may be without proper citation or source) would suggest this is the case, except for the seemingly disfunctional unit market in Western Sydney. Your figures also only cover a ten year period which is a microscopic study where property is concerned.

Steve2009

This does not mean there is a shortage of dwellings in these areas, only a surplus of money. If the money supply contracts then it is very possible that the supply of available dwellings will increase.

ABCDiamond

have you forgotten that you said this first... (or are there two of you on the same account ? )
thereby implying that there was a rule or something to be 'proved'.

OR... I used "Proved", in my reply to that, and you split hairs because you never used THAT word, you used PROVE

Anyway...

As commonly known by most people...

Inner, Middle and Outer Rings of Sydney
http://www.planning.nsw.gov.au/LinkC...language=en-AU

• Inner Ring
11 LGAs within 5 kms of the Sydney CBD: Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney City, Waverely and Woollahra.

• Middle Ring
15 LGAs between 5-20 kms from the Sydney CBD: Auburn, Bankstown, Burwood, Canada Bay, Canterbury, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.

• Outer Ring
17 LGAs beyond 20 km from the Sydney CBD: Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, The Hills, Warringah, Wollondilly and Wyong.

And the data was from RPData Property Pulse

ABCDiamond

I am glad you agree with me

Steve2009

You used the word 'proved', I wrote 'not prove' in reply to that post. You seem to be having trouble following threads these days. I seem to remember this problem occurring a few days ago as well.
What people? There are several billion of us on this earth. How many would know the defined regions of Sydney? Nonetheless, thank you for clarifying your source.
Do you have permission from RPData to use their copyrighted data for this purpose?

How is anyone supposed to verify your data without a RPData subscription? Or are we to trust the ABCDiamond oracle implicitly?

iamthecreaturefromuranus

.

ABCDiamond

Do you ask everyone that quotes anything if they have copyright permission ?

RP Data produce information often from ABS data, and others, and I often take figures from both of these as well as others, and create charts and tables from the raw data.

If It was a copy and paste as some do, then copyright permission may well be needed.

Looks like you have got us well and truly onto the subject of the validity of my information, whilst forgetting the validity of your statements.

But it is good to hear that your statements are actually only your opinion, and therefore carry no real weight.

Most of what I do can be Googled and confirmed from various sources, if one is so inclined to do so.

Then we can get back to the point in hand... what was it again ? I've forgotten

Oh yes, you believe that what is happening with 40% of Sydneys property is immaterial, because it doesn't agree with your opinion.

ABCDiamond

If you trust anyone thing on the Internet, you must have rocks in your head.

It is always best to check everything and verify as much as you can with real information, ignore opinions and speculation, as they are just that.

pomtastic

Yep, as I said, the market is on it's first stages of tanking like Ireland, Spain before it. Glad you can see the similarities. The falls will speed up when the numpties realsie they are holding onto dud investments.

wilf70

As a slight side issue to this very interesting discussion---please have a read of todays Sunday Times supplement.It has an article on the Irish housing boom and bust.For those of you;of a reflective disposition,it will make very salutory reading.As I read it I couldn't help but put the words Australia in instead of Ireland.Remember;Oz is the last housing boom--and may be just beginning to deflate[???].
Also see the articles put out on the web by the unconventional economist--very incisive and worrying.Zerohedge is also very good on the general world economy;or more accurately the mess it is in

pomtastic

Yes, why should you care? Yes why so passionate Vash?

pomtastic

Too true wilf70. I've seen the similarities for a while now. The tide is turning in Australia so there are those who are prepared and those who ain't and keep the blindfolds on.

Zerohedge is ace, Tyler Durden is globally respected, top 10 finance blogs according to Wall Street Journal.

The unconventional economist has to be one of Australia's best economic bloggers, Leith van Onselen.

Another favourite of mine is House and Holes, David Llewllyn Smith, he is well respected economic journalist and occassionally writes for the Business Spectator and other main print.

http://housesandholes.blogspot.com/

wilf70

Pomtastic--thank you for the website recommendation--will read with interest.Hope you are keeping well and christmas is not going to be to much of a strain[[its driving me potty already!!!]

Steve2009

That there looks remarkably like a statement of opinion.

littda01

Vash: "The US property crash saw price dropping more than 14% in a single month (not a quarter). Perth's decline is not even close to that."

If thats true, I think it must be in the real speculative markets in FL, NV or AZ. I would be interested to read the source if you have it.

The US crash from my perspective was far from the precipitous fall some people make out. It started very slowly, in 2006, and didnt pick up real momentum until late 2008, at least where I was.

What I witnessed there is very like what I see in Aus now. I would compare parts of QLD to Florida, Arizona etc - lots of bad press stories, multiple anecdotes of big drops, lots of stock on the market, few buyers, clear evidence of mortgage stress etc.

Melbourne and Sydney would be more like the stable markets in the US - still buyers for good properties, bit of a stock build-up, but no great panic yet.

What happens now will be interesting to see. The govt will no doubt try to kick the can a bit further (fifth pillar etc), but it could be too late for that.