House prices to keep rising for years

[Bill M]

Just back from some open for inspections. Very little property beach side available and heaps and heaps of buyers. The agents are screaming that there's not enough stock. Can only mean one thing, up goes prices even more.

 

[nunthewiser]

back from some open for inspections. Numerous property beach side available and NO buyers. The agents are screaming that there's not enough BUYERS. Can only mean one thing, DOWN goes prices even more

 

[nunthewiser]

excuse my previous post as just makin a point that my post and the other post were just as useless as each other without any verifiable back up

hell im gunna double my house price this year because thats what happened the other year

avaniceday

 

[tech/a]

back from some open for inspections. Numerous property beach side available and NO buyers. The agents are screaming that there's not enough BUYERS. Can only mean one thing, DOWN goes prices even more

I live on the Espy.
Each Friday I drive along my stretch (4 ks) and count the For Sale signs.
Plus see whats available and how much.
Yesterday 3
Behind is a Main road 5 streets back. 5 for sale

Difference is that the Espy ones last around 3 weeks max.
The others---well some Have been for sale for months.

Quality always goes first.
Particularly in this market.

 

[kincella]

in Toorak they would be lucky to last a week.....makes me wonder sometimes...why do the agents bother with the signs.....is it the old idea of just advertising..which works for the agent, rather than the seller ???
I think so, believe a lot of people would have approached the agents looking for properties...well I do that when in buying mode....
the properties sell so quickly down here.....and its not all been by auction, or if it is, they sell prior to auction...
I am talking about lower priced units right on Toorak Rd, and in the lower Toorak areas., under 1 million.....not multi million dollar homes...but the larger multi mills have been changing hands see SOLD props in the realestate web site....
cheers

 

[Bill M]

excuse my previous post as just makin a point that my post and the other post were just as useless as each other without any verifiable back up

hell im gunna double my house price this year because thats what happened the other year

avaniceday

I can't give you a link to show a dozen couples going through the same unit as I did but I get your point. In my area there is a chronic shortage of property. 1 bedroom units start at 310K, 35 year old units they are, very hard to get set. The agent said they did some appraisals this week and they are hoping for some to come through. I doubt very much that anything will double this year, however I can't see any worse than going sideways for a while then say 5% growth over the next few years. Anyhow the hardest part right now is finding that property, if I can't find it I will invest elsewhere, cheers.

 

[Bill M]

Here is a link out of the Daily Telegrah

Full Story Here

AUSTRALIANS are more confident investing in property than in shares during 2009, a survey says.

Many market economists are forecasting the central bank to cut the cash rate to at least 3 per cent by June, 2009.

And the Federal Government's increase in the first home owner's grant is set to stimulate the property market.

"It's (the cash rate) expected to go lower, and that is obviously encouraging to prospective property buyers,'' Mr Kolenda said.

"The increase in the first home owners grant to $14,000 and to $21,000 for buying or building a new home will expire on June 30 this year.

Only 6 per cent of those surveyed said they would invest in shares, following the Australian All Ordinaries index falling 43 per cent in 2008.

 

[numbercruncher]

in Toorak they would be lucky to last a week.....makes me wonder sometimes...why do the agents bother with the signs.....is it the old idea of just advertising..which works for the agent, rather than the seller ???

Link ?





http://data1.reiv.com.au/trendchart/default.aspx

 

[numbercruncher]

And the Federal Government's increase in the first home owner's grant is set to stimulate the property market.

haha they have been saying that since it was increased and NOTHING


Why buy now when prices will be cheaper tomorrow is the attitude that prevails .....

 

[Julia]

Here is a link out of the Daily Telegrah

Full Story Here

AUSTRALIANS are more confident investing in property than in shares during 2009, a survey says.

Many market economists are forecasting the central bank to cut the cash rate to at least 3 per cent by June, 2009.

And the Federal Government's increase in the first home owner's grant is set to stimulate the property market.

"It's (the cash rate) expected to go lower, and that is obviously encouraging to prospective property buyers,'' Mr Kolenda said.

"The increase in the first home owners grant to $14,000 and to $21,000 for buying or building a new home will expire on June 30 this year.

Only 6 per cent of those surveyed said they would invest in shares, following the Australian All Ordinaries index falling 43 per cent in 2008.

Hard to assess the validity of this comment when the total number of respondents surveyed is not supplied.
I'm not necessarily suggesting that the bias towards/against the sharemarket or property isn't as above, but it's either sloppy research or sloppy reporting.

 

[kincella]

Julia.....sloppy ??? ......is it research or reporting...its probably in the reporting.

the group that did the research have over 500 mortgage brokers and support staff in AUS and NZ......
you doubt their numbers, yet it would be quite easy to do a poll with all the clients of the mortgage brokers....
in fact if you go to their website they are conducting a poll on use of the govt handout.....
so it would have been just as easy to do a poll regarding investing in either the property or the stockmarket.....

from a personal point of view, self being a baby boomer, most people I know are either out of the stockmarket never to return, or may return but not for a very long time......they no longer trust the stockmarket, and being a conservative lot....have far more faith in the property market....

however if you are much younger, with 30 or more years to retirement, meaning plenty of time to recover your losses....than you may have the opposite view.....probably picking up 'bargains' now, and or active in the stockmarket....

maybe that group could provide more details regarding the poll, including the age bracket of the respondents....
the stockmarket has cost investors between 50-80% of value...depending on the stock held............that in itself is a huge deterrent to any investor....

here is their web page link
http://www.loanmarketgroup.com.au/

 

[MrBurns]

Here is a link out of the Daily Telegrah

Full Story Here

AUSTRALIANS are more confident investing in property than in shares during 2009, a survey says.
B]

Duhhh, would you think everyone would say yes to shares at the moment ? and just because they would feel more comfortable with property doesnt mean they'll actually buy it.

Another useless survey

a survey says

probably taken during the office lunch break among the staff.

Oh it's a survey by a mortage broker LOL how unusual, you know there's another survey by a stock broker that says the opposite. How about that !

 

[explod]

Many market economists are forecasting the central bank to cut the cash rate to at least 3 per cent by June, 2009.

Yeh, most of them, including those leading lights from AMP and CBA have all been wrong in all their forcasts of the last eighteen months. Why because they want you to keep spending and borrowing so that they can live off the fat of these fees and commissions as you continue to go in and out.

And the Federal Government's increase in the first home owner's grant is set to stimulate the property market.

Well it has not so far and none of the young ones I know are too excited.

"It's (the cash rate) expected to go lower, and that is obviously encouraging to prospective property buyers,'' Mr Kolenda said.

It is going lower to encourage the banks, but they are becoming too scared to lend and have certainly only passed small cuts on so far. As the global economics deteriorate further lending will stop, it is why many businesses are going to the wall, no cash flow between jobs and payment.

Anyone with a bit of a brain would be out of the share market at the moment and for awhile yet, but some of the yields offerred by some stocks, particularly in the food area will soon change that.

 

[robots]

hello,

another fantastic day, the streets are buzzing with the Open about to start,

check this number:



hey hey, here we go brothers

since you like median numbers this one might be of interest

thankyou
robots

 

[Trevor_S]

haha they have been saying that since it was increased and NOTHING

??
First-home buyers to the rescue in Qld

Mr Fraser said the state's incentives, along with the federal government's boost to the first-home buyer grant and the Reserve Bank's decision to cut 300 basis points off the official cash rate since September had prompted the huge spike in applications.

"Only 6 per cent of those surveyed said they would invest in shares, following the Australian All Ordinaries index falling 43 per cent in 2008."

Seems like the time to buy shares then why..

"A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

 

[robots]

hello,

another disgrace in the US:

http://www.news.com.au/heraldsun/story/0,21985,24895023-661,00.html

great to see Adrian with some fine comments, this is why this place is different we do things, make changes, show leadership to the rest of the world

its different all right, no 9mm or bullet proof Hummvee to get to the pizza shop in Aus

thankyou
robots

 

[Bill M]

why..[/URL]

"A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

Hey Trevor, that's where I am right now. Still thinking of getting more stocks or RE. I have mentioned before STW the ASX 200 ETF is paying a 10% divi right now, hard to let that go and get on the bandwaggon with RE paying about 5%. What I like about RE is the constant, secure rental (Sydney) no corrupt directors and no 43% plunges..... Thinking Thinking....

 

[kincella]

the graph defies logic....interest rates were rising.....what happened in March 08 to make it escalate so much ???? a gain of 60%

 

[robots]

hello,

i can only speculate but I think it comes down to the residents, just all great run of the mill people putting in for society,

or maybe supply? not many places for sale, who knows man

thankyou
robots

 

[kincella]

it was just on the news at 10 at 5.00pm today.....over 5000 have taken the grant since it was announced in late Oct 08...qld had the biggest number of over 2000,,,, etc
so thats over 5000 new home owners...not a bad number....

found a link about QLD and fhog
http://news.theage.com.au/national/firsthome-buyers-to-the-rescue-in-qld-20090110-7dw9.html

geez some posters are such time wasters....mediocracy at work again