poyndexter,I have been told during discussions about property...

poyndexter,

I have been told during discussions about property with collegues and friends, that in general, much of the overseas buying from mainly Chinese but also Indian and other Asian investors, speculators, migrants and get your free residency for $5,000,000 buyers do not prefer the Northern Beaches, as there is no train line.

As such there are not really any concentrations of nationalities as there are in Eastwood, Burwood, Ashfield, Chatswood, Haymarket etc that would otherwise support property prices, if the local unemployment rate/economy is sliding or falling off a cliff.

If China collapses then the abovementioned locations may then turn out to be where the prices are most at risk.

I don't look much beyond Seaforth/Balgowlah, but prices there have not performed in comparison to areas closer to the train line on the north shore.

Can't comment on the specific area you mention but I would imagine if there's not much OS money buying there, the prices should be on their way down, as around the north shore, the only people buying are from the groups mentioned above. The locals have really beacome no wealthier since the GFC and cannot afford to buy any more in these areas.

What we really need is for China's economy to utterly collapse and bring everything, equities, property, the dollar back to sane levels.

I know the safe as houses mob will say be careful what you wish for, and fair enough, I might lose my job for a while, but I'd choose that over being a bank slave forever.