Australian (ASX) Stock Market Forum

House prices to keep rising for years

Status
Not open for further replies.
Jump to new
Drove thru a northern beaches suburb today (dee why ) noticed two major real estate offices up for lease?

I guess there moving to bigger premises;)
 
I see Qld is going mental still - " House prices to keep rising for years " ??


Bligh Government forecasts budget deficit of $1.5bn
UPDATE: Sean Parnell | February 20, 2009
Article from: The Australian

QUEENSLAND is the latest state to be plunged into deficit by the economic crisis, with a Budget update today revealing the Bligh government expects to fall $1.5 billion into the red this year.

While the Budget had predicted a conservative $809 million surplus, revised downwards to $54 million in a December update, the outlook has become even more dire in the past two months: property transfer duty forecasts have fallen $500 million due to a stalled real estate market while royalty forecasts have fallen $427 million as demand for coal drops.

Unemployment is now expected to hit 6.25 per cent in 2009-2010, from 4.1 per cent last financial year, economic growth is tipped to have dropped four per cent over that period to hit just one per cent next financial year.

The figures indicate a boom state that is fast going bust.

And worse is yet to come, with a forecast deficit in 2010/11 of $3.2 billion.

The State's dire financial situation is likely to prompt Premier Anna Bligh to call an early election.
Click to expand...

http://www.theaustralian.news.com.au/story/0,25197,25081882-601,00.html

Luckily a few permabulls in here are still making truckloads of $$$ flipping and slicin' n dicin and stuff or this thread would be dead ! good onyahs !

On a side note looks like QLD is roooted ! mexicans may as well head off home now ?
 
Friends I do not know much about the real sector I keep some what knowledge about forex.
 
Sydney auction clearance rate 68% on strong volume this weekend: 156/229 properties sold. median price $593,500 - also higher than recent trends, pulled up by a few higher priced properties starting to sell again (several $1.5M+ and a couple of $2M+ sales in there this week).

http://www.homepriceguide.com.au/saturday_auction_results/sydney_domain.pdf

That's 3 weekends in a row now with ~70%+ auction clearance rates in Sydney.....

Cheers,

Beej
 
I have noticed some great clearance rates in my areas RE monthly mag as well, that is until I looked at the numbers and noticed there was only 3 auctions!

What a useful indicator... :rolleyes:
 
Robots:
Flipping 2 bob in St Killder is a good way to massage the ego and show of your wealth with house prices rising at 14.8% PA ( per Avo) you would be like a Rat with a Gold tooth ($1005 per OZ) top Hat and a Silver top cane you could be mistaken for the Mare.
I will keep glued to the TV looking for an update on your progress and in the next series on Underbelly.
Did you check the Mental health of the man involved?
Did you listen to what he was saying?
Having a spare 2 bob to flip in a depression shows Krudds massaging the economy is working.
Keep up the God work
 
Beej said:
Sydney auction clearance rate 68% on strong volume this weekend: 156/229 properties sold. median price $593,500 - also higher than recent trends, pulled up by a few higher priced properties starting to sell again (several $1.5M+ and a couple of $2M+ sales in there this week).

http://www.homepriceguide.com.au/saturday_auction_results/sydney_domain.pdf

That's 3 weekends in a row now with ~70%+ auction clearance rates in Sydney.....

Cheers,

Beej
Click to expand...

So Beej are there no distressed vendors selling at auction? high clearance rates indicate
a 100% health market? ..have a look at the place below and tell me the vendor wasn't
distressed in some way.

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007548293#

$445,000 for a 1 bedroom renovated terrace in Annandale (inner west Sydney)

And OMG have a look at this in Avalon

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007549043#

Original 3 bedroom house, 150 meters from the water for 650K :eek:
 
So_Cynical said:
So Beej are there no distressed vendors selling at auction? high clearance rates indicate
a 100% health market? ..have a look at the place below and tell me the vendor wasn't
distressed in some way.

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007548293#

$445,000 for a 1 bedroom renovated terrace in Annandale (inner west Sydney)

And OMG have a look at this in Avalon

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007549043#

Original 3 bedroom house, 150 meters from the water for 650K :eek:
Click to expand...

For sure there are some bargains around at the moment if you jump on them - that Annandale one is interesting, but is a tiny, TINY house, on virtually no land, in unrennovated condition - could have been full of termites, about to fall down - who knows? You'd have to go and look at it. $700k+ buys you a pretty nice renovated 2 bed house in Annandale with yard, parking etc....

That Avalon house was passed in by the way (if you read the auction results fully) - they want $800k+ for it - so didn't sell for $650k, that was probably just a cheeky low ball bid at the auction.

Cheers,

Beej
 
Just a couple of things SC, the Annandale property looks to have been 1 big house in the past split into 3. Note the fence directly to the right of the metre box, different roof, different property. Also seems like there is no back yard as such. 445K for a 1 br terrace in Annandale is too over priced for me I would rather a 1 br unit in Manly on the beach for that money. How do you know it was a stressed sale? I think it was over priced myself, not my idea of a good suburb.

To Avalon, that is an old timber home, not many people like old Timber homes in need of renovation. However without a doubt the land must be worth 800K on it's own. No wonder the owners didn't sell, neither would I. A lot of people go to auctions hoping to grab a bargain, personally I would only go private treaty myself, I am not surprised it was passed in for 650K.
 
Bill M said:
Just a couple of things SC, the Annandale property looks to have been 1 big house in the past split into 3. Note the fence directly to the right of the metre box, different roof, different property. Also seems like there is no back yard as such. 445K for a 1 br terrace in Annandale is too over priced for me I would rather a 1 br unit in Manly on the beach for that money. How do you know it was a stressed sale? I think it was over priced myself, not my idea of a good suburb.

To Avalon, that is an old timber home, not many people like old Timber homes in need of renovation. However without a doubt the land must be worth 800K on it's own. No wonder the owners didn't sell, neither would I. A lot of people go to auctions hoping to grab a bargain, personally I would only go private treaty myself, I am not surprised it was passed in for 650K.
Click to expand...

Oh com on Annandale is a great suburb, ive done a lot of work there, beautiful
old terraces, quiet streets, real character...and that one is part renovated.

Distressed with a capitol D...im starting to wonder if u real estate guys actually
know a bargain when u see one....u must live a wonderful life Bill.
 
So_Cynical said:
Oh com on Annandale is a great suburb, ive done a lot of work there, beautiful
old terraces, quiet streets, real character...and that one is part renovated.
Click to expand...
You are under the Sydney airports flight path. No beaches and you got grubby Parramatta road which is so ugly. I am a beach guy, like outdoors and exercising, the sun and the surf and we have the best Rugby League team in Australia "Manly". Now I'm going over to the Music thread to see if I can post the song "Eagle Rock."

...u must live a wonderful life Bill
Click to expand...
I'm not complaining, I got all the cafes, beaches, transport, supermarkets, clubs and everything within walking distance from me, must be what keeps all the house prices up.:eek:
 
hello,

he had the same mental aliments as me Glen48, it was all listed on his sign just underneath the "do you have any spare change"

i hope his path changes now for the future, i could see the spring in his step as he packed up his belongings, thru the sign in the bin

last I saw of him was entering an employment agency in St Kilda as they even had a sign up "workers wanted"

fantastic, life in all its glory

thankyou
robots
 
Status
Not open for further replies.

Similar threads

A
Factors affecting property prices
Replies
3
Views
11K
Space Invader101
Space Invader101
Pommiegranite
  • Locked
House prices to keep falling for years
213 214 215
Replies
4K
Views
414K
MrBurns
MrBurns
H
Listen to this Seer...
Replies
13
Views
4K
haunting
H
M
Keen warns Australia headed for sub-prime crisis
3 4 5
Replies
92
Views
15K
Aurum
A
The Mint Man
  • Poll
Property to boom under Labor Government
2
Replies
30
Views
10K
tech/a
tech/a
Top