The future of Australian property prices

[KurwaJegoMac]

I raise your article and flip the river on the table with this "Sydney house prices to soar 20 percent by 2013"

Ha ha ..... Touche'.

http://www.dynamicbusiness.com.au/news/sydney-house-prices-bis-shrapnel-1680.html

Haha Touche' indeed

On a serious note, how is the average punter meant to make an informed decision? For every negative article there is a positive one. For every crash story there is a boom story - no wonder so many are often frozen with indecisiveness.

 

[trainspotter]

Haha Touche' indeed

On a serious note, how is the average punter meant to make an informed decision? For every negative article there is a positive one. For every crash story there is a boom story - no wonder so many are often frozen with indecisiveness.

It is what it is KurwaJegoMac. Property has always been the same for me. There are certain areas that are reasonably well priced and will provide a % yield over a period of time. This has not changed. If you think you are going to make a quick buck you are wasting your time. The rules have changed somewhat and there is a lot of uncertainty in the market.

It all depends on what you are trying to achieve I suppose. Buying a house to raise a family in would mean different dynamics compared to buying a house/unit for rental/investment purposes. I don't advocate the 95% LVR and the NIL home loans for the FHB to get impaled upon these days. Job security, interest rate fears, cost of living, adjusting global monetary crisis, many external factors are now in play.

Do the research and have an exit strategy for worst case scenario.

 

[medicowallet]

"The clearance rate from this weekends auctions is 55 per cent.

There was a total of 403 homes auctioned, with 223 selling and 180 being passed in. Of the homes passed in 117 were passed in on a vendors bid.

Melbourne's auction market has moved into winter a normal winter cycle with an average of 463 auctions for next 4 weekends compared to 634 in the first half of the year.
This weekend last year saw 591 auctions and a clearance rate of 65 per cent. "

That is funny, I thought they expected 470 auctions...


Where is robots? Is he off having coffee with Mr Burns?

Sunshine and lollipops

MW

 

[choofer]

It is what it is KurwaJegoMac. Property has always been the same for me. There are certain areas that are reasonably well priced and will provide a % yield over a period of time. This has not changed. If you think you are going to make a quick buck you are wasting your time. The rules have changed somewhat and there is a lot of uncertainty in the market.

It all depends on what you are trying to achieve I suppose. Buying a house to raise a family in would mean different dynamics compared to buying a house/unit for rental/investment purposes. I don't advocate the 95% LVR and the NIL home loans for the FHB to get impaled upon these days. Job security, interest rate fears, cost of living, adjusting global monetary crisis, many external factors are now in play.

Do the research and have an exit strategy for worst case scenario.

Well i left aus 3 years ago and never look back. Money I had there is now worth twice wot it was, i have bought inumerable mansions boats cars etc overseas while all you home stayers chew the cud. good luck with your inflated dollar and useless governement hahahahahahah

 

[greebly24]

The Australian Financial Review July2-3, 2011 "Paradise losing money"

Palm Beach median house price
May 2010 - $2.80m
May 2011 - $2.36m
-16%

Noel Nicholson, McGrath's Palm Beach - "There are 210 properties on the market in Palm Beach at present. Thirteen properties have been sold this year. Last year there were 25 sold and in 2009 there were 54 properties sold." Averaging 35 sales a year that's 6 years' supply ha ha ha

Noosa Heads median apartment price
Dec 2006 - $790k
Sep 2010 - $675k
-15% ha ha ha

Noosa Heads median house price
Mar 2008 - $1.05m
Sep 2010 - $646k
-38% hardy har har

High-profile Noosa agent Tom Offerman, of Tom Offerman Real Estate, admits he is selling new beachside houses from $510,000 as part of receivership sale when once they were priced at up to $1.4 million. -64% OMFG!!!

AFR July 2-3, 2011 "Worst possible timing for owners"

The values in some apartments in the Mirvac development (Tennyson Reach on the Brisbane River) have dropped from $2.45 million to $1.5 million, -40% bugger!

Mrs Buchanan's apartment is ideal, and they don't mind the quiet that pervades from the 43 unsold apartments that surround them. Who's gonna pay the fees?

Some apartment owners, including Brisbane property developer David Dunworth are set to take legal action to try to get out of completing the purchase of the apartments they bought off the plan. Even a property developer wants out ha ha ha

Seems like lots of people losing lots of money on property. Who woulda thunk it possible?

 

[choofer]

The Australian Financial Review July2-3, 2011 "Paradise losing money"

Palm Beach median house price
May 2010 - $2.80m
May 2011 - $2.36m
-16%

Noel Nicholson, McGrath's Palm Beach - "There are 210 properties on the market in Palm Beach at present. Thirteen properties have been sold this year. Last year there were 25 sold and in 2009 there were 54 properties sold." Averaging 35 sales a year that's 6 years' supply ha ha ha

Noosa Heads median apartment price
Dec 2006 - $790k
Sep 2010 - $675k
-15% ha ha ha

Noosa Heads median house price
Mar 2008 - $1.05m
Sep 2010 - $646k
-38% hardy har har

High-profile Noosa agent Tom Offerman, of Tom Offerman Real Estate, admits he is selling new beachside houses from $510,000 as part of receivership sale when once they were priced at up to $1.4 million. -64% OMFG!!!

AFR July 2-3, 2011 "Worst possible timing for owners"

The values in some apartments in the Mirvac development (Tennyson Reach on the Brisbane River) have dropped from $2.45 million to $1.5 million, -40% bugger!

Mrs Buchanan's apartment is ideal, and they don't mind the quiet that pervades from the 43 unsold apartments that surround them. Who's gonna pay the fees?

Some apartment owners, including Brisbane property developer David Dunworth are set to take legal action to try to get out of completing the purchase of the apartments they bought off the plan. Even a property developer wants out ha ha ha

Seems like lots of people losing lots of money on property. Who woulda thunk it possible?

Yep, life sux hahahahahah

 

[explod]

Yep, life sux hahahahahah

I dont' think so, it is a tradgedy and a disgrace, from Government to property developers, spruikers but in particular the banking system which has us all sucked in.

to those who ha ha ha.

 

[IFocus]

The Australian Financial Review July2-3, 2011 "Paradise losing money"

Palm Beach median house price
May 2010 - $2.80m
May 2011 - $2.36m
-16%

Noel Nicholson, McGrath's Palm Beach - "There are 210 properties on the market in Palm Beach at present. Thirteen properties have been sold this year. Last year there were 25 sold and in 2009 there were 54 properties sold." Averaging 35 sales a year that's 6 years' supply ha ha ha

Noosa Heads median apartment price
Dec 2006 - $790k
Sep 2010 - $675k
-15% ha ha ha

Noosa Heads median house price
Mar 2008 - $1.05m
Sep 2010 - $646k
-38% hardy har har

High-profile Noosa agent Tom Offerman, of Tom Offerman Real Estate, admits he is selling new beachside houses from $510,000 as part of receivership sale when once they were priced at up to $1.4 million. -64% OMFG!!!

AFR July 2-3, 2011 "Worst possible timing for owners"

The values in some apartments in the Mirvac development (Tennyson Reach on the Brisbane River) have dropped from $2.45 million to $1.5 million, -40% bugger!

Mrs Buchanan's apartment is ideal, and they don't mind the quiet that pervades from the 43 unsold apartments that surround them. Who's gonna pay the fees?

Some apartment owners, including Brisbane property developer David Dunworth are set to take legal action to try to get out of completing the purchase of the apartments they bought off the plan. Even a property developer wants out ha ha ha

Seems like lots of people losing lots of money on property. Who woulda thunk it possible?

Those numbers reflect the Mandurah market.

 

[nth brisbanite]

The Australian Financial Review July2-3, 2011 "Paradise losing money"

Palm Beach median house price
May 2010 - $2.80m
May 2011 - $2.36m
-16%

Noel Nicholson, McGrath's Palm Beach - "There are 210 properties on the market in Palm Beach at present. Thirteen properties have been sold this year. Last year there were 25 sold and in 2009 there were 54 properties sold." Averaging 35 sales a year that's 6 years' supply ha ha ha

Noosa Heads median apartment price
Dec 2006 - $790k
Sep 2010 - $675k
-15% ha ha ha

Noosa Heads median house price
Mar 2008 - $1.05m
Sep 2010 - $646k
-38% hardy har har

High-profile Noosa agent Tom Offerman, of Tom Offerman Real Estate, admits he is selling new beachside houses from $510,000 as part of receivership sale when once they were priced at up to $1.4 million. -64% OMFG!!!

AFR July 2-3, 2011 "Worst possible timing for owners"

The values in some apartments in the Mirvac development (Tennyson Reach on the Brisbane River) have dropped from $2.45 million to $1.5 million, -40% bugger!

Mrs Buchanan's apartment is ideal, and they don't mind the quiet that pervades from the 43 unsold apartments that surround them. Who's gonna pay the fees?

Some apartment owners, including Brisbane property developer David Dunworth are set to take legal action to try to get out of completing the purchase of the apartments they bought off the plan. Even a property developer wants out ha ha ha

Seems like lots of people losing lots of money on property. Who woulda thunk it possible?

The above are very selective figures and not a reflection on what is going on in the property market as a whole. I've got a unit in Kedron where prices are not going down much at all. My son sold his unit in the same complex for $355000 which is a little more than another unit which sold 8 months ago. Wavell Heights houses went up by 10% in the last year. Nundah's figure is very similar. I live in Aspley where houses are still selling fairly quickly - prices appear to be very similar.

 

[singlefished]

The above are very selective figures and not a reflection on what is going on in the property market as a whole. I've got a unit in Kedron where prices are not going down much at all. My son sold his unit in the same complex for $355000 which is a little more than another unit which sold 8 months ago. Wavell Heights houses went up by 10% in the last year. Nundah's figure is very similar. I live in Aspley where houses are still selling fairly quickly - prices appear to be very similar.

I live in Clayfield and obviously study the area closely... I could suggest that you are also being selective with your analysis.

Lets take Kedron from your example and compare it with the neighbouring suburbs of Stafford, Wooloowin, Clayfield & Albion.

Prices shown are 2010 Median house compared to the current May median price from rpdata:

Stafford: $485K down to $415K
Albion: $628K down to $425K
Wooloowin: $665K down to $612K
Clayfield: $930K down to $842​

(these numbers are fluff though for sure... it's the downward trend and stagnant market that are the main items we should be considering here)

Now, you'll admit that Kedron, Stafford and Nundah are not quite "prestige" markets but they do have aspirations I'll admit. Here's some commentary from Havig & Jackson on the prestige suburbs that they do neighbour and her analysis.

http://www.brisbanetimes.com.au/queensland/top-end-of-town-loses-its-way-to-market-20110618-1g9cc.html?from=age_ft

I also have a few good mates who have been trying to sell in both Clayfield & Kedron over the last few months..... the mate in Clayfield selling his unit has had no interest at all in the 3 months it's been with Havig & Jackson, similar with my mate in Kedron who's had his place on the market 4 months with only a few offers coming in (all well below advertised price).

The market in these northern suburbs is flooded with properties at the moment and nothing much is selling. A lot of the rental properties occupied by flood victims are also coming back onto the market pushing up rental vacancies from thier recent lows... I wouldn't expect much in the way of capital or rental growth over the next few years if I was you.......

 

[Glen48]

i think if any one makes an offer some where near reasonable take it ,because next year you will have wished you had.

 

[Bigukraine]

i think if any one makes an offer some where near reasonable take it ,because next year you will have wished you had.

shhhhhhhh! quiet...... i'm just waiting for the cooling off on my joint ,cash unconditional too

 

[tech/a]

So must be time to buy then.
All those who have been waiting for opportunity--- HERE IT IS!

 

[Glen48]

tech/ A
Buy a house or a Joint? or buy a house and a joint to ease the pain when you see the prices tanking.

 

[tech/a]

Most will watch frozen by fear.
Look for land value and replacement of dwelling prices to exceed prices offered on the property your buying.
Wether that be a high or lower priced investment.
Return on capital is also a must consideration if an investment.

I expect a stagnation at the higher end of the market.
They will still sell but based upon appeal and of course bargain pricing.
Most other housing will be driven by demand.
My area Moana in SA rose 28 % last year!

The examples shown above as pointed out are selective and expected.
But as usual a lot of typing by many and bugger all action---- which will be reflected in people's investments--- or more to the point --- lack of.

 

[EXAQTD]

I dont' think so, it is a tradgedy and a disgrace, from Government to property developers, spruikers but in particular the banking system which has us all sucked in.

to those who ha ha ha.

x2

 

[Bigukraine]

Most will watch frozen by fear.
Look for land value and replacement of dwelling prices to exceed prices offered on the property your buying.
Wether that be a high or lower priced investment.
Return on capital is also a must consideration if an investment.

I expect a stagnation at the higher end of the market.
They will still sell but based upon appeal and of course bargain pricing.
Most other housing will be driven by demand.
My area Moana in SA rose 28 % last year!

The examples shown above as pointed out are selective and expected.
But as usual a lot of typing by many and bugger all action---- which will be reflected in people's investments--- or more to the point --- lack of.

yes the making of the southern express way into a two way road and a rail link to go on further past norlunga are factors that would help you see the 28% growth last year.... nice spot had a rental unit on nashwalk for a while....it still is about location and potential for growth... just have to reconise the opportunities in this flat market and exit when you realise the potential for capital growth has stopped or stalled... depending on your circumstances.

 

[tech/a]

Yes agree
And as the plans for both are in our tender department ( for retaining walls--- our specialty) this who recognize the potential will ve buying with open arms.

It's out there just have to recognize the opportunity then DO SOMETHING!

 

[Bigukraine]

Yes agree
And as the plans for both are in our tender department ( for retaining walls--- our specialty) this who recognize the potential will ve buying with open arms.

It's out there just have to recognize the opportunity then DO SOMETHING!

That almost qualifies as insider trading ! LOL

 

[nth brisbanite]

I could suggest that you are also being selective with your analysis.

I'm not trying to be selective but would like the discussion to be more balanced. Well located and well priced properties appear to be doing well. I own a Kedron unit which is close to the soon to be completed northern busway. There appears to be a big demand for the units in the complex. About 4 units have come onto the market recently and have all sold at great prices within a few weeks of listing.