Sydney House Prices, rise, fall or remain stable?

[robm3]

As the title says, any thoughts on were Sydney prices are heading?
We're 'cashed up' and looking to buy but I feel the housing market may slump on the back of global economic news.

Positives for the market:
Australian finances strong
Asian (China) demand still strong with 8% growth in current numbers

Negatives:
Prices to salary ratio extremely high
Global economic situation worsens

Any thoughts?

[JackCarter]

I think that quality properties below approx. $1 million in good locations (close to public transport, schools, shops etc) will appreciate. The higher end market is definitely soft at the moment from what I have been told, however good properties that are sensibly priced are still selling (but more of a buyers' market over $1 million). Apartments close to public transport and not too far from the CBD are still very popular with investors at below $600K (because many younger buyers have been priced out of the market). Personally I can't see values crashing even though Sydney seems way too expensive compered with some other cities around the world.

[Brisvegas]

I agree with Jackcarter, can't see them dropping. Australian Property prices are more micro economically influenced. Softening of interest rates, high supply and demand, not enough new houses being built in Sydney region all add up to prices increasing and at worst not dropping IMHO. As they say position position position.
Goodluck if you take the plunge.
Tony

[Colonial]

Rob. This is my area... If u get the time I'll drop you a pm tomorrow. Few things to consider. Short version is yes and no. Lots of interesting things happening.

Looking at the northern beaches or an investment?

[PomBstard]

Colonial said:

Rob. This is my area... If u get the time I'll drop you a pm tomorrow. Few things to consider. Short version is yes and no. Lots of interesting things happening.

Looking at the northern beaches or an investment?

Hey if that sort of advice is going, count me in! Seriously, I'm in the market