The future of Australian property prices

[Dona Ferentes]

First Home Buyers

“The average age of a first homebuyer, for example, is around 36 years, which means people are renting for longer.”
- Campbell Hanan, CEO, Mirvac Group Ltd​

 

[qldfrog]

First Home Buyers

“The average age of a first homebuyer, for example, is around 36 years, which means people are renting for longer.”
- Campbell Hanan, CEO, Mirvac Group Ltd​

With a bit of luck, they are past the first divorce , which would prevent forced sale , good for everyone but the lawyers, and state governments

 

[wayneL]

Is the house price crash finally here or just a blip. I suspect the latter, or perhaps somewhere between the two.

My area in the Swan Valley still "seems" buoyant, properties still going fairly quickly at good prices, but I get a elsewhere in Perth it is not so flash.

Thoughts on your own areas?

Sydney home prices plunge amid interest rates warning - realestate.com.au

The Sydney housing market has become trapped in a downturn, with home prices falling significantly in some areas since late last year.

www.realestate.com.au

 

[qldfrog]

Is the house price crash finally here or just a blip. I suspect the latter, or perhaps somewhere between the two.

My area in the Swan Valley still "seems" buoyant, properties still going fairly quickly at good prices, but I get a elsewhere in Perth it is not so flash.

Thoughts on your own areas?

Sydney home prices plunge amid interest rates warning - realestate.com.au

The Sydney housing market has become trapped in a downturn, with home prices falling significantly in some areas since late last year.

www.realestate.com.au

Definitely going lower in the sunny coast hinterland

 

[wayneL]

Definitely going lower in the sunny coast hinterland

It seems unreasonable that the frenetic activity and price increases of recent times could continue without some sort of correction... Assuming that there isn't some massive extraneous influence... hyper inflation, hyper immigration, hyper economic growth?

However in each of the above I cannot imagine that there might not be some sort of revolution as a result... The plebeians are not happy.

 

[SirRumpole]

Why affordable housing isn't happening.

Home owners attempt to block affordable housing on church land

A group of residents in the Brisbane suburb of Wakerley is trying to prevent a local church from building 44 units for low-income people on its own land.

www.abc.net.au

 

[sptrawler]

Sounds like property is still a good investment.

Australian immigration is a mess, controlled by business and universities

It seems beyond either the wit or the political muscle of Australia's political leaders to set an immigration target, let alone to meet it.

www.abc.net.au

The only things with which the level of immigration seems to have any connection are the revenue needs of universities — starved as they are of government funding — the demands of business for more consumers and cheap labour, and the hunger of the property sector for buyers and renters.

In the 12 months to June 2024, net migration totalled 444,700. Twenty-five years ago, the natural increase was running at 120,000 a year. The babies then would now be looking for a house. Total housing demand now would thus be about 560,000 people.

Dwelling completions in the year to June totalled 177,022. Assuming there are 2.4 people per dwelling, that's an annual housing shortfall of roughly 56,000 units, although it's probably more than that because the 25-year-old families wouldn't be 2.4 yet: they'd mostly still be two.

 

[JohnDe]

Sounds like property is still a good investment.

Australian immigration is a mess, controlled by business and universities

It seems beyond either the wit or the political muscle of Australia's political leaders to set an immigration target, let alone to meet it.

www.abc.net.au

The only things with which the level of immigration seems to have any connection are the revenue needs of universities — starved as they are of government funding — the demands of business for more consumers and cheap labour, and the hunger of the property sector for buyers and renters.

In the 12 months to June 2024, net migration totalled 444,700. Twenty-five years ago, the natural increase was running at 120,000 a year. The babies then would now be looking for a house. Total housing demand now would thus be about 560,000 people.

Dwelling completions in the year to June totalled 177,022. Assuming there are 2.4 people per dwelling, that's an annual housing shortfall of roughly 56,000 units, although it's probably more than that because the 25-year-old families wouldn't be 2.4 yet: they'd mostly still be two.

The heading that you posted, "Australian Immagration a mess, controlled by business and universities", is left leaning ABC tripe.

However, they partially do redeem themselves by adding "Federal government either unable or unwilling to set an immigration target".

Business and universities can lobby governments, but it is the government that has the final say. Blaming business and uni's for the current immigration policy is like blaming the voters for the government.

Bring back an impartial ABC.