robots was "nice" enough to clip out the site disclaimer stating that the suburb had less than 35 sales for the quarter therefore the readings are "volatile" and probably not representative.
the graph defies logic....interest rates were rising.....what happened in March 08 to make it escalate so much ???? a gain of 60%
the graph defies logic....interest rates were rising.....what happened in March 08 to make it escalate so much ???? a gain of 60%
.............
..........................................................
some or all of the above sound familiar to you ???
well most of it comes from the bears .....they all have some excuses or many excuses.....and it comes in the form of the arguments they have against property as an investment......
hence the reason there are so few property bulls....less than 10% of the population invest in property....90% do not...
but 70% of the population buy their own home.....
I think its funny
Time to change subjects...
Reasons.
a) limited supply and increasing demand (immigration)
b) increasing building costs of new homes ripples through to all housing
c) increasing minimum expectations (McMansions)
d) increasing wealth trickling down from mining boom
e) increasing cost of capital (interest rates)
f) increasing wage pressure
I am a property bear at present. I bought my first house at the age of 21 (at 13.5% interest rate I might add). Paid it off in 3 years. Bought my second house then, and so on.
If it took 3 years I assume the ratio must have been >3:1, which is below even the historical average.
Before the bubble there was plenty of renovators delights at 3:1 (and even less for apartments) , the historical average got you a average house folks.
My first house was 3.5x my salary (above average salary at the time) and it was a really nice house .....
How much is your house worth? Who knows?
Adam Schwab writes:
For many Australians, the vast majority of their assets consist of their primary residence or investment properties. Treasury estimated in 2006 that 55% of net private sector wealth consisted of "dwelling assets", with the figure far higher for the middle class (the uber-wealthy tend to own much of their assets in the form of "income producing" business interests).
Despite the importance of dwelling assets to many Australians, there is no accurate and transparent body which provides historical price information about property to investors or home-owners. Unlike publicly traded companies (who generally trade on the ASX), price data regarding residential property is generally provided by real estate bodies, such as the Real Estate institute of Victoria or New South Wales.
As Crikey revealed recently, the accuracy of such data provided by real estate bodies is questionable, being produced and reported by real estate agents who themselves have a significant vested interest in disclosing minimal information and overly positive results.
hello,
and where was the house Number? people today can get the same deal in suburbs across Melbourne
st kilda up 14.8% for Sept08, see the graph bro
thankyou
robots
hello,
and where was the house Number? people today can get the same deal in suburbs across Melbourne
st kilda up 14.8% for Sept08, see the graph bro
thankyou
robots
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