This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

House prices to keep rising for years

Status
Not open for further replies.
Jump to new
hello,

i have got my finger on the pulse for todays auction results, checking REIV every 5 min for the results

hopefully Enzo will get them up quick smart, he is a nice chap Enzo dresses well and returns his email, the sign of a true professional,

thankyou
robots
 

Great result for Melbourne there.

And Sydney results for today can be found here: http://www.homepriceguide.com.au/saturday_auction_results/sydney_domain.pdf

Sydney results show a 66% clearance rate (4th weekend in a row with 60%+ clearance now and on reasonable sales volume again like last weekend). 183 properties sold out of 251 auctions (+ 21 withdrawn). Median price at for this weekends auctions $675k - which is a fair bit higher than the past 2 weekends, indicating that more of the mid range priced properties are now starting to sell (as expected). There's a quite a few $1M-$2M sales in there as well, plus a few $2M+ as well, Eg:

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007592994 ($2.02M) and http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007567225 ($2.715M)

So it would seem that higher activity from last quarter in lower price bands is now starting to flow through the market, as expected (and predicted). I predict we will see this reflected in the price stats for Q1 when they come out.

Cheers,

Beej
 

Well it didn't take too long for a "gloomhead" reply. I opened up my local rag today and there was 5 pages of jobs in it. Had everything from professional, health, transport, apprenticeships and labouring jobs, all there for those that want to work. Went for my usual walk down the beaches again the coffee shops were full and the car parks all full. It seems to me like everything is as usual, nothing to worry about.
 

There are factors holding us up a little at present but we will not defy gravity for much longer , if I thought we could I'd be out there spending now.
 

This is what I am seeing as well (despite being a bit of a gloomer atm). Not too sure what is going on
But people seem to be spending. Construction has picked up as well and I'm busy again. People seem to be confident with the low rates on offer.
 
Trevor_S said:
Indeed I just put in an offer for $650,000 (cash) on a 3x2 unit, where the vendor wants $894,000... we'll see. I own 1 IP and one PPOR currently (both debt free), this would be a new PPOR. I doubt they will take it but you never know.
Click to expand...

Wow... I just got an email, saying there are two people who own the place (I knew that), one is here locally and will accept it, if I make a formal contractual offer (I had just emailed the RE Agent), owner 1 is sure owner 2 will accept it. Have I just bought the local median down for units ? I must admit I was 1. surprised with the speed of the reply and 2. the (apparent) acceptance, I had been led to believe a couple weeks ago that I would be laughed at. It has been for sale for a couple months (new penthouse unit, just completed, in a new complex) I (we) like the location and the aspect.
 
Do I take it you won't be moving to Tassie now? A bargains a bargain, sounds good. I don't understand "a 3x2 unit", what is that exactly?
 
moXJO said:
This is what I am seeing as well (despite being a bit of a gloomer atm). Not too sure what is going on
But people seem to be spending. Construction has picked up as well and I'm busy again. People seem to be confident with the low rates on offer.
Click to expand...

First, no one wants to believe things are going pear shaped. Two, Glen Stevens said that it is going to come good and; Three, in our living memory it has always been good, so it must be.

The businesses going to the wall tells me not to buy it. I will stick to gloom till I see some confirmed sunshine thanks.
 
I'm not gloomy for the sake of it but I've seen people go broke being overly optimistic so I tend to only dive in if I'm fairly sure I already know the outcome.
With whats happening round the globe you would be a fool to risk too much on anything right now.
 

Good stuff mate. Have a look in Cairns also, lots of goodies up for grabs there. But frankly, wait another year and make an offer for 400k ;-)
 
gfresh said:
Brisbane, 32% - going off!
Click to expand...

Yea - not so good. One comment though - does Brizzy traditionally have much of an auction driven market? The volumes always seem really low whether the clearance rate is low or high?

Cheers,

Beej
 
Bill M said:
Do I take it you won't be moving to Tassie now?
Click to expand...

Very much still on the cards This was originally an interesting exercise and I was mightily surprised it was accepted.

Bill M said:
A bargains a bargain, sounds good. I don't understand "a 3x2 unit", what is that exactly?
Click to expand...

sorry, 3 bedroom and a study (2 bathroom) and that's the point isn't it ... is it a "bargain" ? if they have accepted that price, haven't I set the new floor in pricing, everyone else interested will presumably see what I bought for (if I go ahead) and want a lower price on the other ones still available and if they get them for less then me, then I paid "top dollar".

What say you ? WBC to cut dividends along with ANZ ? (most of the banking part of my portfolio is in WBC)
 

What's been driving prices up to now? Sounds like a lot of these places are on the market? Any others sold? Quite a few desperate sellers around? The thing is, for $600-$800k you could buy a pretty decent 3/2 apartment in Sydney, on the lower north shore or eastern beach side suburbs (Bondi, Coogee etc). So to me, for Townsville, that type of money seems really high, and therefore possibly very risky, as how many people are around to drive/sustain prices at that level for that type of property? In Sydney the demand is clear and constant for say Bondi or Coogee - will that be the case in FNQ at that price level?

Just my thoughts...

Beej
 
Beej said:
Yea - not so good. One comment though - does Brizzy traditionally have much of an auction driven market? The volumes always seem really low whether the clearance rate is low or high?

Cheers,

Beej
Click to expand...

Couldn't find much for historic rates in Brizzy.... the stuff on the RBA website only really references historic Melbourne & Sydney.

Found this though from mid 2003 :

All over the news this evening was how unemployment in QLD is currently the worst in Australia - up 18% from the previous quater (if i remember correctly) - and how it may impact the coming state election....
 

Go anna
 
 
Status
Not open for further replies.

Similar threads

February 2025
2 3 4
Replies
64
Views
6K
ducati916
Why Donald Trump's Companies Went Bankrupt
Replies
3
Views
2K
noirua
House maintenance prior to selling
Replies
13
Views
3K
basilio
O
Housing affordability
2 3 4
Replies
66
Views
8K
investor13
R
The 7 Moats of Quality Companies
Replies
7
Views
7K
divs4ever
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...