The future of Australian property prices

[explod]

Jayzuz we thought you had been murdered by a Socialist activist.

Welcome back to the twilight zone.

And LAZARUZ,

been trying to evade the dobicide squad for months.

 

[Uncle Festivus]

Just goes to show, that without the lollypops handed out by the government there is very little intrinsic sunshine to be had.........?

Loan Market recently claimed a 10% spike in enquiries from first home buyers in June. However, a study by comparison site RateCity has indicated 60,000 fewer first home buyers entered the property market in the 12 months to May 2011 than in the 12 months to May 2010. RateCity CEO Damian Smith said ABS figures showed around 7,500 first time buyers per month active in the market in the 12 months to May. This compares with around 12,500 per month in the previous corresponding period. Smith claimed that, with property prices largely flat over the past year, interest rate rises and the winding up of the FHOG Boost were behind the drop-off.
"Despite the Reserve Bank boards’ decision to keep rates steady for the past seven meetings, it’s clear that prospective buyers are still wary about jumping into debt because their monthly repayments are going to be much, much higher than they were in late 2009," Smith said.

http://www.brokernews.com.au/news/breaking-news/market-sees-60000-fewer-fhbs/116515

BER comes to an end, what next?

Further evidence of the tough trading conditions for the real-estate sector has been revealed in the 75% jump in the number of construction businesses whose risk assessment was downgraded during the March quarter 2011.
One in seven (14%) construction firms was downgraded in the March 2011 quarter, compared with 8% a year ago, according to the latest Dun & Bradstreet Corporate Health Watch report.

And the snake oilers go back to selling cars I presume?

The figures come on the back of Real Estate Institute of Australia president David Airey claiming in May that up to 10,000 real-estate agents have quit the industry in the past year, reducing total numbers from 60,000 to 50,000.

 

[Tysonboss1]

But many investors in at 200 to 400 would have had plenty of opportunities post the high to unload at 600 in 1980, and bet many did.

Just like some of the smart money over the last eighten months selling out of some of the best properties here in Toorak, Victoria.

Very good investors are also good traders.

So your saying the smart money should be exiting gold.

 

[medicowallet]

So your saying the smart money should be exiting gold.

Have you?

 

[Tysonboss1]

Have you?

The only gold I have every bought hangs around my partners neck or on her fingers. :

and I guess we are holding that, So I mustn't be the "Smart Money" everyone speaks of.

 

[wayneL]

The only gold I have every bought hangs around my partners neck or on her fingers. :

and I guess we are holding that, So I mustn't be the "Smart Money" everyone speaks of.

What you need is some Krugerrands. The smart money is buying right now and I have some for sale.

They are fantastic pose value for which I will only ask a 20% premium.

 

[explod]

So your saying the smart money should be exiting gold.

Absolutely, silver is the real grunt for your money now.

 

[MissMoneyPenny]

Well it is now official that houses are over priced and about to crash for it was reported on Today Tonight. Now even the general population has no excuse not to take notice. Too bad it is too late to do anything about it now.....

 

[cynic]

Well it is now official that houses are over priced and about to crash for it was reported on Today Tonight. Now even the general population has no excuse not to take notice. Too bad it is too late to do anything about it now.....

"Today Tonight" you say!

Well coming from such a premium quality media source with a long standing reputation for complete, accurate and impartial reporting of facts - it must be true then!

 

[cutz]

"Today Tonight" you say!

Well coming from such a premium quality media source with a long standing reputation for complete, accurate and impartial reporting of facts - it must be true then!

Yep,

Now awaiting Today Tonight to ring the bell at the bottom so I can take the plunge into NG'd IP.

 

[Glen48]

ANZ? I think have put on 100 new staff members to handle bad loans I assume working in some sort of call center herein Manila, according to Blomberg.

So if ANZ need this we assume the other big three too big to fail as long as the taxpayer supports them banks must being the same position???

 

[CamKawa]

Oh

Surge in home repossessions

• 400 repossession writs issued in two months
• Home owners face eviction if they can't pay
• Record decline in property prices

 

[Starcraftmazter]

I lost the figures which showed which banks have the most offshore borrowings, does anyone know where to get it or does anyone have it?

Thanks.

 

[cutz]

Oh

• 400 repossession writs issued in two months
• Home owners face eviction if they can't pay
• Record decline in property prices

• Property bulls disappearing from the ASF thread in record numbers.

 

[jet328]

• 400 repossession writs issued in two months
• Home owners face eviction if they can't pay
• Record decline in property prices

I'm no property bull, but say there was 2,000,000 properties in Victoria, thats 0.01% per month, thats less than peanuts, I'm actually suprised its not higher just purely related to illness. In fact, even in 'good times' it seems incredibly low.

 

[Glen48]

Banks in USA now have problem maintain foreclosed house's as the council are now issuing fines for property in a bad state of repair and the bank are refusing to pay fines which will be another burden on the taxpayer.
IF The market ever returns all these homes will be beyond repair and worthless.

 

[satanoperca]

MELBOURNE'S tight rental market is showing signs of easing, with vacancy rates for all metropolitan areas rising above 2 per cent for the first time in six years. An apartment boom in the city - 65 per cent of all projects launched since 2008 are under construction - has helped boost the CBD vacancy rate to 2.5 per cent.

No shortage in Melbourne at the moment. How quickly things change.

http://theage.domain.com.au/real-estate-news/vacancy-rise-eases-market-20110720-1hoxy.html

 

[CamKawa]

No shortage in Melbourne at the moment. How quickly things change.

http://theage.domain.com.au/real-estate-news/vacancy-rise-eases-market-20110720-1hoxy.html

Yes I know. It's interesting that this current sell off sees an increase in both the total number of houses for sale and an increase in vacant rental properties. During 2008 when the total number of sales increased, rentals tightened slightly.

 

[trainspotter]

• Property bulls disappearing from the ASF thread in record numbers.

[*] Property bears continue on growling the same old sh1te

Ummmmmmm let's look at this with an observant eye rather than a headline act shall we?

MORE than 400 repossession writs have been served on home buyers in the past two months.

They are the highest figures for almost two years, more than double the number of repossession writs filed in the Supreme Court of Victoria six months ago.

Lenders lodged 206 writs in the Supreme Court last month against people who had defaulted on their mortgage repayments. It was slightly less than May's figure of 221 writs.

The last time figures were so high was in July 2009, when 231 repossession writs were filed. In December there were just 89 and in January 90.

So in July 2009 231 writs were issued in 1 month? Extrapolate that out times two and we have 462 as a result. SO what has changed between 2009 and 2011?

It would appear when you actually read the article further it states thusly:-

Between July 2007 and June 2009 the number of monthly repossession writs filed in the Supreme Court dipped below 200 only twice.

So once again if we use our brain and comprehend what has been written it is an AVERAGE of 200 per month anyhow since 2007 through to 2009. The article says so.

So therefore with the powers of deduction one could assume a mean average of around 200 per month at the worst end of the scale (which is about normal) or one could assume that nothing has actually changed at all in 4 years.

WOWEEEEEEEEEEEEE that is some good journalism there. Nothing to see here. Move on peoples.

 

[trainspotter]

What is this? Clearance rates at auction on the rise? It can't be !!!! But but but the property bears were gloating that property is ........ Oh what's the use.

SYDNEY realtors defied the gloomy winter weather, with auction clearance rates hitting a 10-month high on the weekend.

Home-buyers braved Saturday's rain, spending $117.7 million on 148 properties across the city, pushing up the clearance rate to 63.5 per cent from 52.6 per cent the week before. It was the highest rate since September, The Australian reports.

The Sydney clearance rate has only topped 60 per cent on six occasions since September 11, when it hit a high of 69.5 per cent.

The Melbourne market also rose, with realtors clearing 61.7 per cent at auction on Saturday, generating $60.3m as 92 properties sold under the hammer.

Read more: http://www.news.com.au/money/proper...ll/story-e6frfmd0-1226101104435#ixzz1T6yb2q9m