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House prices to keep rising for years

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kincella said:
no they dont run out of money....they just print a whole lot more...which in turn devalues your existing dollars.....
no need to borrow it and have to pay interest...just print it...
Click to expand...


Yes print like no tomorrow and everything will be alright. Maybe you should read a bit of history about fiat money and how many systems have collapsed using it. Those old fools who wrote the US constitution may have actually know something back then.:cautious:
 
hello,

thanks man, yeah keep plodding along travelling through time and helping out the economy along the way

paradise

ps. anybody heard from chops, hope all's well

thankyou
robots
 
16 Shops in Lorne sold prior to auction
for a return of 5.5 -6%
thats a massive amount for a small town...prices from 300,000 to 1 million on a return of about 5%....damn how did I miss that one....trinity sold them...
some lucky investors out there..
.................................................. ...........................

Mr Castran said the success of the sale pointed to investors returning to blue chip commercial property in the current economic turmoil.

"What we are seeing is people hesitant to buy shares or park their money in the bank where they get no strong returns," Mr Castran said.

"They are using super funds to purchase quality commercial stock, especially in the $500,000 to $1 million bracket." Mr Castran said buyers were a mix of existing tenants and Melbourne investors.

He said demand had been fuelled by no further commercial subdivisions being developed in Lorne, which is above the beachfront Great Ocean Road.

http://www.theaustralian.news.com.au...-36418,00.html
 
kincella said:
16 Shops in Lorne sold prior to auction
for a return of 5.5 -6%
thats a massive amount for a small town...prices from 300,000 to 1 million on a return of about 5%....damn how did I miss that one....trinity sold them...
some lucky investors out there..
.................................................. ...........................

Mr Castran said the success of the sale pointed to investors returning to blue chip commercial property in the current economic turmoil.

"What we are seeing is people hesitant to buy shares or park their money in the bank where they get no strong returns," Mr Castran said.

"They are using super funds to purchase quality commercial stock, especially in the $500,000 to $1 million bracket." Mr Castran said buyers were a mix of existing tenants and Melbourne investors.

He said demand had been fuelled by no further commercial subdivisions being developed in Lorne, which is above the beachfront Great Ocean Road.

http://www.theaustralian.news.com.au...-36418,00.html
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Lorne is seasonal only, watch the rents tumble and/or tenants leave/go broke when winter rolls around, not to mention the global economic crisis.

Investment unit in Qld is better , good all year round and people will holiday at home rather than go overseas AND you can sneak a couple of weeks in per year for yourself AND the returns are as good or better than what you've quoted.
 
due to our mild weather down here....Lorne is almost a year round option....know of people who purchased resi units at the beginning of the cumberland resort....let as serviced apartments....rented all year round...earning over 25,000 pa each ( thats over 7 years ago ??? what they are now)...he had 5 ...paid about 150,000 each....
almost no vacancies ever.....
but commercial usually takes a different investor....and they are not buying a shop that runs for a month....
oh and in these times...people travel locally and in oz...rather than overseas....so it will probably be even hotter down there....
note the median price of houses over 1.3 mill....
its a pretty place....but I dont like the ocean...prefer the protected bay side
from memory...Lorne is like Portsea...its the cashed up people from Melb, its their playground
where do you reside burns ??? see the article about townsville
 
kincella said:
due to our mild weather down here....Lorne is almost a year round option....know of people who purchased resi units at the beginning of the cumberland resort....let as serviced apartments....rented all year round...earning over 25,000 pa each ( thats over 7 years ago ??? what they are now)...he had 5 ...paid about 150,000 each....
almost no vacancies ever.....
but commercial usually takes a different investor....and they are not buying a shop that runs for a month....
oh and in these times...people travel locally and in oz...rather than overseas....so it will probably be even hotter down there....
note the median price of houses over 1.3 mill....
its a pretty place....but I dont like the ocean...prefer the protected bay side
from memory...Lorne is like Portsea...its the cashed up people from Melb, its their playground
where do you reside burns ??? see the article about townsville
Click to expand...

I'm in Melbourne, I was a commercial real estate agent for 20 years.

Lorne , well any holiday place other then Qld would worry me, though I dont know the market down there perhaps I should take a drive.

In any case strip shopping is a worry at the best of times and in this economic climate too dangerous for me.

Port Douglas is ok all year round because it's tropical, an investment unit there is looking good, just have to wait another 6 months I reckon till the prices drop, might be longer though.
 
its the wet season in Qld now....Oct to Mar or later....flooded half the time...the heat and the wet would drive me nuts...then the dunghi fever now...
brother has been up to rocky in 2004 and again 2006...went up in may...first year they said it was the coldest in 100 years...2nd time it was the wettest in 100 years
he is a former qld er...blah blah the sun, surf and fishing...he is never going back now'
and they are waiting for the tsunami...to hit anytime...its overdue...
all a bit nervous....last year sister heard the radio with tsunami warning....did not drive to work,,,kept going, went up into the hills for the day....
 
reserve bank of NZ cut rates buy 1.5...now 3.5

woo hoo good news for all...but why do we have to wait till next week
that 2% cut is looking good...do they have the gutz to do it now...or wait longer until more jobs are lost

http://www.news.com.au/business/story/0,27753,24978518-31037,00.html

--------------------------------------------------------------------------------
.
Ever met a wealthy person who complains and moans about everything ?

*** The best way to become a millionaire is to borrow a million dollars and have your renters pay it off.
Jack Miller
 
I have a friend who owns an IP in Lorne. He tried selling mid last year when the tenants who had occupied the property for 5yrs moved out. Property was on the market for the SAME PRICE he paid for it more than 10 years ago, and after 3 months there was not even one serious enquiry!! Fortunately for him, he has now at least found someone to rent it.

According to home price guide, Lorne houses are down 25% from the 6 months to Dec 08. Region is only down 5%

For Lorne Units, there isn't enough data (ie. not enough sales), however the region is down 12%, so I wouldn't be surprised if Lorne units fared even worse than its houses.

There isn't enough data to post the clearance of auctions for 6 months to Dec 08, however for the 6 months to June 08 it was 36%
 
gav said:
I have a friend who owns an IP in Lorne. He tried selling mid last year when the tenants who had occupied the property for 5yrs moved out. Property was on the market for the SAME PRICE he paid for it more than 10 years ago, and after 3 months there was not even one serious enquiry!! Fortunately for him, he has now at least found someone to rent it.

According to home price guide, Lorne houses are down 25% from the 6 months to Dec 08. Region is only down 5%

For Lorne Units, there isn't enough data (ie. not enough sales), however the region is down 12%, so I wouldn't be surprised if Lorne units fared even worse than its houses.

There isn't enough data to post the clearance of auctions for 6 months to Dec 08, however for the 6 months to June 08 it was 36%
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Holiday places are the first to go in a downturn and this will be a huge dowturn.
 
kincella said:
its the wet season in Qld now....Oct to Mar or later....flooded half the time...the heat and the wet would drive me nuts...then the dunghi fever now...
brother has been up to rocky in 2004 and again 2006...went up in may...first year they said it was the coldest in 100 years...2nd time it was the wettest in 100 years
he is a former qld er...blah blah the sun, surf and fishing...he is never going back now'
and they are waiting for the tsunami...to hit anytime...its overdue...
all a bit nervous....last year sister heard the radio with tsunami warning....did not drive to work,,,kept going, went up into the hills for the day....
Click to expand...

Geez there's no where to go I think I'll just withdraw the lot and sniff it up my nose with robots.
 
MrBurns said:
Holiday places are the first to go in a downturn and this will be a huge dowturn.
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yep........................ do have my eye on the apollo bay area .BUT not opening both to look proper for at LEAST a year :)


we havent even seen the beginning of this downturn proper yet in my view .

but hey im always happy reading about sunshine and lollipops posted here on a daily basis
 
nunthewiser said:
but hey im always happy reading about sunshine and lollipops posted here on a daily basis
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haha yes this thread is about the only place on the net to get some positive spin ..... (aka lies and damned lies)

Everywhere else on the net deals wth reality .....
 
Meanwhile, out in the real world: "Rent price rises at 20-year high":

http://www.news.com.au/business/story/0,27753,24977706-462,00.html

RENTS have recorded their highest increase since 1988 amid fears the rental crisis will only get worse as the impact of the global recession takes hold.

Latest figures from the Australian Bureau of Statistics show the annual rate of growth in rents across the country has jumped to 8.4 per cent in the year to last month, up 2 per cent from 2007, The Australian reported.

The statistics also reveal the increase in rents has jumped from 5.4 per cent to 8 per cent in Sydney, 11.2 per cent to 12.2 per cent in Perth and 8.6 per cent to 10.1 per cent in Brisbane.

Adelaide also recorded an increase in residential rental growth of 4.7 per cent to 5.4 per cent and Melbourne jumped to 6.6 per cent from 5.4 per cent.
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Cheers,

Beej
 
kincella said:
800 houses in townsville...could be on the market...after storm financials collapse.....
how sad for the owners...
but this should create fire sales and bring the prices down....
small community hit by some greedy and stupid players
http://www.theaustralian.news.com.au/business/story/0,28124,24977694-25658,00.html
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Its that age old adage " the greedy become the needy " .......

All the lemmings were sucked in with such crazy concepts as " you have a lazy balance sheet " ........

Lock up the ring leaders and charge the "victims" with financial negligence and muppetry ....

People should have to be licensed to take out debt and sit through education seminars about its destructive force (and benefits) ....

Moral of the story, if your going to play with fire atleast do it with a seperate legal entity such as a company ...... :D

House prices to boom forever ? pray for Quantative easing permabulls !
 
Beej said:
Meanwhile, out in the real world: "Rent price rises at 20-year high":
http://www.news.com.au/business/story/0,27753,24977706-462,00.html
Cheers,

Beej
Click to expand...

Meanwhile in the actual real world friend of mine just rented at the same price they would have a year ago, nice house and they have a dog.

Ivanhoe somewhere not out in the sticks....... no problem.

Just sold at 5% less than he would have got previously, will be waiting up to 2years to buy back in. Good timing.
 
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