House prices to keep rising for years

[robots]

hello,

gee i thought it was tuff to get a loan these days but plenty people getting them, didnt CBA want 10% in "genuine" savings

oh well have a bob each way, another great week brothers

how we looking, still 7x average income to average price? oh well

the internet back working in the UK yet

thankyou
robots

 

[Uncle Festivus]

Mr.B
If the young ones had a choice between FHO and the front line... the front line would be a better choice at least you can get a DSHL... if you survive I think Rudd is more worried about being a 1 termer than any thing else.House prices in USA went up:
http://patrick.net/housing/contrib/existing_house_sales.html

House sales went up - prices still going down?

 

[kotim]

on he 27/3/09 there was an article in the Age newspaper in relation to the RBA saying that there are 20 thousand plus homes at least 3 months behind on their mortgage.

Does anyone have any info according to past history on what sort of implication that number has, or can direct me to charts etc of relative interest.


thanks

 

[Bill M]

back home now in St Kilda, man we got the cars burning it up around Albert Park, AFL again at the G so all things good as in St Kilda BillM (property wise as well)

thankyou
robots

Good to see you back mate, things still hot around here. Now they are talking about crowd control at auctions and open for inspections, check this out.
------

CROWD control and impromptu silent auctions are becoming common with properties up to $500,000.

With so much demand in the $350,000 to $500,000 range several agents are recommending auction campaigns rather than private treaty when it comes to selling.

People are realising too they are paying the same in rent as they would to buy so they figure they might as well be paying off their own home,’’ he said.

FULL STORY HERE

 

[robots]

hello,

melbourne auction results:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=652&nav2=162

a HUGE 77%, this just fantastic, amazing

thanks Enzo for putting up the results top effort brother

a another great day across Australia, the sun shining bright where i am and hope it is for others

might buy 2 latte's and a serve of bacon & eggs in the morning

well done

thankyou
robots

 

[kincella]

good on you Robots...this really is one of the better user friendly sites....with some friendly users too...
yes good results...no fires, floods...gorgeous autumn days in lovely old Melb....and the GP humming in the background....
and a 20 mill jackpot on tatts...just bought a ticket...just in case I might be lucky...
cheers:sheep::sheep::sheep:
ps I like the faces on these skipping sheep

 

[Beej]

Sydney auction clearance rate was 66% today; 187 sales / 283, median sale price $683.5k. A few big $$$ sales in there as well ($4M Mosman, $3.9M Bronte - haven't seen many like that for a while).

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

Cheers,

Beej

 

[IFocus]

hello,

melbourne auction results:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=652&nav2=162

a HUGE 77%, this just fantastic, amazing

thanks Enzo for putting up the results top effort brother

a another great day across Australia, the sun shining bright where i am and hope it is for others

might buy 2 latte's and a serve of bacon & eggs in the morning

well done

thankyou
robots

This is good advice Robots might wander down town Mandurah and do just that have a good weekend

 

[kincella]

Ifocus...forgotten now...but is that anywhere near Port Geographe ? Axiom properties had a big development with marinas...down there
Bacon and eggs is on the cards for me too today...might be a bit late for it at the kiosk on the beach...otherwise a nice feed in Toorak...
Krakatora in toorak rd, sth yarra used to do it for about $4, Funkies in toorak its about 10, and the italian place about 15....
or Como...its very dog friendly over there too...and just around the corner...
cheers

 

[pilots]

This is good advice Robots might wander down town Mandurah and do just that have a good weekend

You think Mandurah is bad, go to Busselton and Dunsborough, we looked at some houses last week, one sales rep told us he had 53 houses on the market that the owners would not have a for sale sign out the front of the house.
I think the poo poo is about to hit the fan in the west soon when it comes to house prices.

 

[nunthewiser]

You think Mandurah is bad, go to Busselton and Dunsborough, we looked at some houses last week, one sales rep told us he had 53 houses on the market that the owners would not have a for sale sign out the front of the house.
I think the poo poo is about to hit the fan in the west soon when it comes to house prices.

GERALDTON WA......

yesterday auction with reserves at 90k on blocks selling for 220 a year ago .utakarra

4th april .. auction with reserves at 70k for blocks selling at 120-180k a year ago .cape burney

april .auction with reserves at 70k for blocks selling 140-220k a year ago .. acacia ridge

think theres one more "bargain basement "auction happening in april but cant recall from top of head

lol bet them ppl that bought house and land packages in these estates a year or 2 back not feeling so great

but hang on i read here that we still in a boom ???

 

[gfresh]

I thought every property purchase was the instant path to riches? Shows as with any form of investment, being selective is still very important.. you can still lose on property.

http://www.smh.com.au/national/flat-news-for-resale-of-firsttime-apartments-20090327-9e5g.html

PEOPLE who bought and sold units in new apartment projects in Parramatta, Waitara, Liverpool and Meadowbank are among the biggest losers of the property downturn, a report on the resale value of Sydney properties shows.

In a survey of 1120 houses and units that were sold and resold between January 2000 and the end of last year, 28 per cent sold for less the second time around.

The report's author, the director of MVS Valuers, Peter Raptis, said the difficulty in making money from many property investments was more apparent when inflation was taken into account. "If you factor in CPI at say 3 per cent per annum, it is more like 59 per cent that had a loss or no growth," he said.

...

He warned that first-home buyers who rushed into purchases without researching the market were particularly vulnerable to the "bust" cycle of the market.

"In some cases, I can't believe they're paying that much for a property," he said.

 

[pilots]

GERALDTON WA......

yesterday auction with reserves at 90k on blocks selling for 220 a year ago .utakarra

4th april .. auction with reserves at 70k for blocks selling at 120-180k a year ago .cape burney

april .auction with reserves at 70k for blocks selling 140-220k a year ago .. acacia ridge

think theres one more "bargain basement "auction happening in april but cant recall from top of head

lol bet them ppl that bought house and land packages in these estates a year or 2 back not feeling so great

but hang on i read here that we still in a boom ???

Just drove down West cast road in Perth, a year ago you could not find a block or a house for sale over looking the sea, now you can have any thing you want, it looks to me that it is the VERY rich that is going down fast.

 

[Jikx]

Just drove down West cast road in Perth, a year ago you could not find a block or a house for sale over looking the sea, now you can have any thing you want, it looks to me that it is the VERY rich that is going down fast.

Well typically it's the holiday house that goes first during a recession, then the investment, and finally the family home

 

[robots]

I thought every property purchase was the instant path to riches? Shows as with any form of investment, being selective is still very important.. you can still lose on property.

http://www.smh.com.au/national/flat-news-for-resale-of-firsttime-apartments-20090327-9e5g.html

hello,

yes that has been the case for a while now g, only look back to 03-04 in Melbourne when southbank and docklands hit the fan over resale price, and the whole "off the plan" issue arose

with Uk just going through this very same issue,

yet people buying old stock ie. 70 or 80's joints are sitting on very tidy $

going forward if "investors" dont start buying "off the plan" again those holding existing stock will be sitting pretty

thankyou
robots

 

[Fleeta]

hello,

yes that has been the case for a while now g, only look back to 03-04 in Melbourne when southbank and docklands hit the fan over resale price, and the whole "off the plan" issue arose

with Uk just going through this very same issue,

yet people buying old stock ie. 70 or 80's joints are sitting on very tidy $

going forward if "investors" dont start buying "off the plan" again those holding existing stock will be sitting pretty

thankyou
robots

Robots, another beautiful day in Melbourne today, no doubt you were enjoying a coffee in St.Kilda somewhere - what do you think about 'upsizing' in the current market, i.e selling $400k house in outer suburb and buying $800k house in inner suburb? Is it better to do this when there is more supply in the market??

 

[robots]

hello,

yes great move as long as the numbers stack up financially for people,

as gfresh has highlighted it is very important to choose a good property,

this cover's numerous issue's such as:

location, style, architecture, size,

selling and then buying needs to be undertaken in a matter of months to "keep" things in the same market as such

friend of mine went from St Kilda (400k prop) to sth Melb (800k prop) but rented for a year in between at which point some reasonable rises occurred lifting the purchase price for sth melb place

i havent seen the numbers, but i know around st kilda supply is very low at the moment, the press is also reporting multiple bidding is starting to appear at many auctions

hope this is of assistance and more than happy to answer any further questions people may have

thankyou very much
robots

 

[Fleeta]

Thanks Robots, keep up the good work and enjoy the last week of daylight savings. Great to see the footy starting and a good year for the Saints coming up...

 

[robots]

hello,

yes will do,

since Thursday everybody has already forgotten about the GFC, doom & gloom, G20, printing presses etc etc

life is still rolling on in all its glory Fleeta

thankyou
robots

 

[IFocus]

Ifocus...forgotten now...but is that anywhere near Port Geographe ? Axiom properties had a big development with marinas...down there
Bacon and eggs is on the cards for me too today...might be a bit late for it at the kiosk on the beach...otherwise a nice feed in Toorak...
Krakatora in toorak rd, sth yarra used to do it for about $4, Funkies in toorak its about 10, and the italian place about 15....
or Como...its very dog friendly over there too...and just around the corner...
cheers

Geograhe is about 2 hrs further south (Busselton), a marina development down there has a massive problem with sea weed at the entrance gassing off not sure who the developers are.

Mandurah has bigger and more extensive canal developments plus units at a number of sites lots of multi mil $ weekender / holiday homes not lived in full time.

Wife's cousins brought canal block for $250K on sold later for $1 mil plus others brought canal blocks built units 3 levels one per level sold two and paid for the top level etc