House prices to keep rising for years

[MrBurns]

hello,

pakington st, st kilda, double story open plan, wood pizza in backyard, double garage, lap pool and nature strip

can i include east st kilda as well mr burns

thankyou
robots

That property was on Backyard Renovation show on TV not relevant - next !

 

[theasxgorilla]

Bulldust I know that property and it was overvalued the year before so it actually went down, any others ???

Interesting argument Burns...how do you mean exactly? You say it was overvalued...by whom?

 

[numbercruncher]

hello,

come on Mr Burns give us an example, just one please, herald-sun would have an article on it surely

thankyou
robots

Google came up with so many results i didnt know where to start ....

houses in Melbourne's blue-chip Toorak slumped 24 per cent in the six months to September.

http://www.news.com.au/business/money/story/0,28323,24610167-5013951,00.html

Thats only half a mil of fat shaved off ..... nothing compared to Torakians share portfolios perhaps ?

 

[robots]

hello,

great, we happy with using those figures,

st kilda units up 14.8% for 2008, sensational

utopia, what a place

thankyou
robots

 

[MrBurns]

Interesting argument Burns...how do you mean exactly? You say it was overvalued...by whom?

The agents who tried to sell it at the time.

 

[theasxgorilla]

The agents who tried to sell it at the time.

So you're saying the property sold for less this year than those agents were trying to sell it for last year, so it's gone down in price?

 

[2BAD4U]

If a property is truly overvalued then it wouldn't sell in any market. So if it sold at a lower price this isn't an indication that prices fell, just that it was overvalued.

 

[kincella]

here are the commbank figures...obviously not enough sales but it does show 10% growth...
if commbank is not big in the area for loans then it can distort the figures...but abs and others often use commbanks loan figures in their stats...

after taking a stake in aussie and now wizard they will probably be the biggest lenders in the future

just food for thought
http://pvg.webcentral.com.au/propertyValueGuideChart.asp

I notice a heap of affordable places on domain..whioch lists recent sales...however I believe a lot of bottom of the market props have been sold recently in other areas I watch..which brings the median price down....

 

[MrBurns]

So you're saying the property sold for less this year than those agents were trying to sell it for last year, so it's gone down in price?

.

No I'm saying it hasnt gone up

 

[robots]

hello,

whats going on with that property then Mr Burns? ROE tells me everything goes up by 10% per annum, and to double in 7-10yrs

is it next to a brothel or something?

thankyou
robots

 

[MrBurns]

http://pvg.webcentral.com.au/propertyValueGuideChart.asp

....

Interesting link kincella thanks

 

[MrBurns]

hello,

whats going on with that property then Mr Burns? ROE tells me everything goes up by 10% per annum, and to double in 7-10yrs

is it next to a brothel or something?

thankyou
robots

There are always exceptions to the rule, the market in some areas is effected by one or 2 large sales on very low volumes plus the market is being proped up to some extent by the lower interest rates and Govt bribes, next year will tell the story but if the housing market can survive this I'll be amazed, akin to defying gravity.

The best way is to attend auctions in your area see what properties are actually being sold for as against what they might have got a year ago,.

 

[robots]

hello,

it is amazing Mr Burns the resilience of property,

why is it taking soo long to hit aussie land, this saga has been going on for about 12mths in US (declining prices)

ah! i know, you dont get popped going to Coles or Westfield Shoppingtown in Aussie land

i know i know i have to what, it's going to be 2009 or 2010 now

thankyou
robots

 

[tech/a]

For what its worth

 

[explod]

Struth Robots.

Looks like that info you gave me on St Kilda could be a bit shonky.

In fact Tech's chart says it crashed in 08

 

[MrBurns]

hello,

it is amazing Mr Burns the resilience of property,

why is it taking soo long to hit aussie land, this saga has been going on for about 12mths in US (declining prices)

ah! i know, you dont get popped going to Coles or Westfield Shoppingtown in Aussie land

i know i know i have to what, it's going to be 2009 or 2010 now

thankyou
robots

Yes it is taking longer here, pent up demand, lower interest rates, Govt grants, and still it's falling, imagine what will happen when those factors change plus job losses kick in.

Wont be the same as the US though, probably.

 

[robots]

hello,

other people must of given me dodgy information, cant be my fault Explod

thankyou
robots

 

[BigAl]

Now I've heard it all.

We are immune from the worlds problems.

This time its different.

 

[2BAD4U]

Here's some food for thought.

Australia's population is growing at 1.7% a year (Source: ABS).

At this rate of growth it will take approximately 45 years for our population to double. All those extra people will have to live some where.

So what's it to be?
a) All these extra people will buy houses pushing prices back up again.
b) All these people will be so far priced out of the market it will create boom times for property investors.
c) A little bit of a) and a little bit of b).

All you property bears must concede one point though. At some time houses will turn and start to increase in value again, otherwise all your arguments support a goal of free housing for everyone or zero growth. Neither of which can happen (zero growth short term but not sustainable long term).

 

[Lancelot]

so I dont need some arrogant full of himself ******** telling me house prices have fallen 1%.

I agree, I dont need some arrogant full of himself ******** telling me house prices have fallen either

Quote:
Originally Posted by Lancelot View Post
Not that I would use domain figures as they are unreliable IMHO. The only valuation that counts comes from a valuer based on previous sales, but, as you like to use domain......................................

http://www.domain.com.au/public/subu...&postcode=4075

http://www.domain.com.au/public/subu...rchterm=wynnum

http://www.domain.com.au/public/Subu...&postcode=4030

http://www.domain.com.au/public/Subu...&postcode=4059