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House prices to keep rising for years

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Canberra is not a bad place to invest in property at all IMO.

The outlooks in terms of occupancy have always been good, and the local populace is largely sheltered from downturns.
 
You'll keep mate.

I do not exaggerate to say I have been to Melb over 100 times and it was on the 98th I started to like the place.

You must have an innane ability to recognise quality which has taken me a while to achieve.

Stayed at the Park Hyatt as a treat , and of late the Windsor, and what a treat to walk around the City feeling safe and free at night - or am I being foolhardy? Some lovely authentic curries -cheaper the better it seems - in Perth I would think twice at venturing out for walkies at night.

If I told my wife we are moving to Melb I would be single again! Maybe after another 100 visits she may acquiesce - amazing what you can get use to. Do love country Victoria though!
 
chops_a_must said:
I think you will find, most of the property bears are either relatively young and or single.

Which makes other asset classes much much more attractive.

But it is also important as a driver of property price, because at the end of the day, they are the ones that would traditionally move into the home ownership bracket, and if they don't, it's a serious problem for the bulls.
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Very true and it has almost become a given for me, and many of our friends to assist our adult kids into homes. Succeeded with most of them and hoping to help the rest but you are right is is a lot more difficult than it use to be. I can't see that changing but I do see the need for family assistance being the order of the day if you want to get in on average wage. Many of us are happy to help - but how it has all changed Australia wide one way or another.
 
Passive said:
Very true and it has almost become a given for me, and many of our friends to assist our adult kids into homes. Succeeded with most of them and hoping to help the rest but you are right is is a lot more difficult than it use to be. I can't see that changing but I do see the need for family assistance being the order of the day if you want to get in on average wage. Many of us are happy to help - but how it has all changed Australia wide one way or another.
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And you don't see a problem with this??? :confused:

Passive said:
Sheltered employment
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Indeed.

Plus the fact that it has a high transitory workforce who don't intend to stay there for long, makes it an ideal property investment locale IMO.
 
sheltered employment...thats funny....sheltered from the real world...
friend moved there few years ago from Melb...he hated it..cold and like living on another planet...no 24/7 shopping and culture....he moved to Syd and loved it there

and passive the head of the GP organisation was bashed in Williamstown recently ......
Melb is probably safe till around 11.00pm at night.... but going by the local media and news, there has been a bit of strife lately with the young ones...think it all happens after midnight and in the early hours...extra cops employed to curb it....last week ambo's complaining about being bashed up by the drunks and drugo's...and hospitals full of same....
they did have a 2.00pm lockout trial recently....
not sure sometimes about what is real or what is a 'beat up' for another reason....problems with the police association versus the commissioner....at war with each other...but she is now leaving anyway....

maybe the younger ones have more idea
 
chops_a_must said:
And you don't see a problem with this??? :confused:


Indeed.

Plus the fact that it has a high transitory workforce who don't intend to stay there for long, makes it an ideal property investment locale IMO.
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I do see a problem with it - but little I can do to change things
Until then I will work the system for the good of those I can assist using the system in place that is so property biased in Aus and voter friendly that few pollies dare to alter.
 
IFocus said:
A couple of things, WA has a number of speeds in its economy hence some see no problems while others are worried.

Start with housing, the last 5 years of price rise's are unprecedented here in WA we have never ever that's never had a average housing price up there with Sydney that cannot be sustained.

Don't be surprised if house prices fall at an unprecedented rate, not saying they will but there are some good reasons why they could.

I have many friends through out the mining and manufacturing sectors here in the West many at management levels, there are many jobs currently swinging in the balance this is a fact not rumor, not media.

As all ways I guess we will have to wait and see
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IFocus

We have never seen such a surge in commodities needed by the giant China. WA prices are not too different from other states medians and remember NSW is a basket case as was Melb with the last recession. From the research I was doing in the late 90s and early naughties we were underpriced in price and rents. Caught up and dropped back to what I think, and I may be wrong - but don't think so -sustainable levels.

The China/India/Tiger economies story is not over and Perth will perform well long term and may exceed Sydney prices for decades to come once the world goes back to growth mode long term. If a place has what others want it gets an advantage like the oil rich countries. Granted slow for them now but long term - no! What makes the resource states different long term?

With low rates many homeowners will hold their homes as it is that first and foremost a home and not an investment. Employment is well over 95% - yes there is fear but that can change quickly - and as rates go down less and less pressure to sell.
 
The China/India/Tiger economies story is not over
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Chindia can buy as much dirt from our holes as they can afford but it isnt going to replace the loss of demand created by the rest of the recessioned world. :D
 
Passive said:
IFocus



The China/India/Tiger economies story is not over and Perth will perform well long term and may exceed Sydney prices for decades to come once the world goes back to growth mode long term. If a place has what others want it gets an advantage like the oil rich countries. Granted slow for them now but long term - no! What makes the resource states different long term?

China and Indias economies are still slowing, as is Australias, dont be blinded by the fact we are still trading to them... Australia is not immune to to world crises, just slow to catch the cold...

With the commodities and resources we sell you are indeed rite, we are in a good position, but we have yet to feel the full extent of effects.... Jobs are been lost in droves, if you want examples just ask, I shall provide figures and companies for you... It is only a matter of time before we have a further slide.
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The only thing that would stave this off is the other big world economies pulling themselves out of recession in a short time frame... anyone think this is going to happen?
 
The exodus of skilled ring ins should now gather momentum ....


Departures start as boom turns to bust

THE Harvey family savoured their last, warm Aussie Christmas Day on Perth's riverside yesterday before they head to greener pastures overseas.

They are leaving because after a decade living in the once-booming west, Jason Harvey does not want to risk becoming a victim of the state's resources slump.

Mr Harvey has seen the impact of the global economic crisis at first hand while working as an engineer. "Literally within the space of a month, it's gone from boom to bust here," he said.
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http://www.theaustralian.news.com.au/business/story/0,,24843589-36418,00.html
 
Passive said:
I do see a problem with it - but little I can do to change things
Until then I will work the system for the good of those I can assist using the system in place that is so property biased in Aus and voter friendly that few pollies dare to alter.
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Got nothing to do with doing the right thing or anything like that. It means that prices have undoubtedly reached a ceiling if they can no longer be afforded by responsible people earning above slighty average wages.

I'm not sure if you have lived here for a long time, but Perth has an historically massive emigration problem. As late as 2003 young people were leaving Perth in droves. I remember being involved in programs as to find out why, and what to do about it.

Hence, historically problematic occupancy rates.

Passive said:
To the UK ? LOL
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And as above, it will continue to be that way. If there are no jobs here, young people wont stay. It is one of the worst places to live as an 18-40 year old.

My engineering mates who I get a lot of information from about various projects, have told me that a whole heap of skilled migrants who were organised to come here in boom times, and have finally arrived, are going to start being laid off and sent back because there isn't even enough work to keep the locals employed.
 
have told me that a whole heap of skilled migrants who were organised to come here in boom times, and have finally arrived, are going to start being laid off and sent back because there isn't even enough work to keep the locals employed.
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The Gov is already being lobbyed to slash immigration to boot ...
 
Whole batch of migrants with money just approved - my niece and family one of them.

Been here more than 25 years and seen it all before. Perth has more panic merchants than elsewhere and if values drop seize the opportunity as they will go up again. Often said we have a cowboy economy here and many opportunities to make and lose money.

We all have anecdotal stuff we hear - time will tell!
 
Always rambling about USA Robi ...... they have 15x our population so you would expect to see 15x the number of crimes .....


Australia’s urban crime rate is on par with most large cities in the United States that have medium crime rates.
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https://www.osac.gov/Reports/report.cfm?contentID=69927


Melbournes full of gun toting "underbelly" types i hear, and those on budgets settle for knives I hear ?
 
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