MartinH

I was wondering whether there was any definitive source / sources on house prices in Sydney? I have been reading around on the internet and note that there are some sources that talk about a looming price crash (as is common in many economies) or stagnant prices.

Are there any sources which give supporting information over the last say 36 months e.g. number of mortgages, average price index etc.

I see there are some subscription based sources of information but I would rather have it for free!

We are planning to arrive in January and will probably rent until we understand the lay of the land.

walaj

Sydney covers a large area & made up of vastly differring social economic groups. Beach & near the city (of course) remain strong - out west repossession have been increasing, where lower paid earner have stretched themselves and find they can not afford all the interest rate rises. Generally Nth shores still doing well, as there are plenty of people with money (baby boomers, stockmarket gains).

It will also depend on the type of house you are looking for & how much $ you would be spending. If you are to believe a REA on the Nth shores there are not that many $5m properties, but many buyers (btw that is vastly out of our league before you ask).

Apart from the difficulties that some in mainly the west are facing, I have not seen reports, nor seem to feel that there is an impending crash (wish there was). Clearance rates at auctions are up on last year - I think it is right to say that there are not as many houses on the market to choose from which will help keep prices up with plently of buyers. Not to say that all properties are selling instantly - been to several auctions where property not sold or even had a bid.

renth

Exclusive suburbs - up.
Non exclusive suburbs steady.
Less exclusive suburbs, already crashed/crashing.

Swerv-o

The inner west remsins steady, but there is very little housing stock to choose from at the moment. I've given up looking for a bit, as I am bored with trailing around the same tatty houses each week talking to the same hacked off buyers as the week before and the week before that etc...

The REAs are really talking up the market, but at the moment people really arn't selling...

S