House prices to keep rising for years

[robots]

hello,

great question

yes, Grand Designs is repeats but still good viewing/listening as i am in and out of the latest scientific journals,

i have to keep up with the reading since i was appointed an Associate Professor,

thankyou

Associate Professor Robots

 

[kincella]

Well there you go professor Robots....I am a fellow.....
cheers

 

[numbercruncher]

Hello Permabulls,


I see your preferred investment vehicle continues on its predictable trajectory .....

Property crashes as first-quarter home sales, prices and clearances slump

The Australian Property Monitors group says Sydney and Perth showed the sharpest falls, with average prices dropping by more than $150,000.

The average price for all properties sold at auction in Sydney over the first quarter was $616,237, compared with $786,682 in January to March last year.

Only 1742 properties were sold in the first quarter compared with 2230 over the same period last year.

http://www.theaustralian.news.com.au/story/0,,25330870-25658,00.html


Sooooo early in the recession as well ......

House prices to keep rising for years

Funny funny stuff, just keeps crackin me up no ends - you will be lucky to get out of this without your Bank being nationalised let alone a road to easy riches ......

Thankyou and may the force be with you all

 

[kincella]

Hi there Numbercruncher....if you lived up to your nic....you would understand only the lower priced props have been selling for the past year....not middle and high end....so of course the median price will now only reflect the lower prices....you know how they calculate the median price don't you ?
we prop bulls are much smarter than the average bear.....we are not easily fooled.....
but good luck anyway:sheep:

 

[kincella]

just thought a little fun is appropriate....

I have a 100 year chart with property prices on the wall....even the dog gets excited and barks when ever we stop and check it out.....smart dog, she recognises we need patience with investing in that class......
plus she has a vested interest...its her retirement nest egg too....
cheers :sheep:

 

[Beej]

Hello Permabulls,

I see your preferred investment vehicle continues on its predictable trajectory .....

http://www.theaustralian.news.com.au/story/0,,25330870-25658,00.html

Sooooo early in the recession as well ......

Funny funny stuff, just keeps crackin me up no ends - you will be lucky to get out of this without your Bank being nationalised let alone a road to easy riches ......

Thankyou and may the force be with you all

We all know sales volumes are down, hardly surprising and predicted/expected by many here as the "standard" response by the property market to a stagnant market and recessionary influences. If you consider this properly you will realise that falling volumes of property for sale is one of the factors that puts a pretty solid resistance/floor under prices.

NC I know you like to focus on the negative side of the argument but did you read the following post and article on the previous page??

Here's John Edwards report on the latest stats:

NSW leads the way

Happy days, though we're not out of the woods just yet.

Cheers,
Michael

I didn't notice any response from you to that or any other similar article with stats indicting price rises/resilience posted in the last couple of weeks.

All reports so far (RP Data, Residex etc) are indicating median prices in most of AU sans Perth and Brisbane INCREASED in Q1 2009. This will be confirmed by ABS stats in a few weeks. You can deny this all you like but it will not change the facts that are presenting.

Cheers,

Beej

 

[robots]

hello,

greetings to all, wow look at this:

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

massive 78% clearance rate on great number of auctions, this is unbelievable

oh well

extra special thanks and congratulations to to many here for the on the ground reporting and research that has been undertaken in an unbiased fashion

thankyou
robots

 

[kincella]

Morning Robots...you are on the ball....thank you for the link each week

I was about to copy parts but see its copyright...so,,,,

note the number of private sales 928 is more than double the auctions 435
including the value PS 380 million versus Auctions 185 mill
median price of houses 530k, 77% cearance, med price units 427 k and 83% clearance rates...
noted a few sales in excess of 2 mill....
oh well guess we must be on another planet from the rest of the world to be consistently coming up with such good results...
cheers

 

[Beej]

Sydney auction clearance rate 65% for yesterday. 180/276 sold, median auction price $595k. Plenty of mid-higher end sales ($1M-$2M). From http://www.homepriceguide.com.au/saturday_auction_results/sydney_domain.pdf.

Looks like Melbourne is still really kicking along! Sydney is steady as she goes.

Cheers,

Beej

 

[kincella]

Sydney has lower numbers and of course $$ worth in turnover....just wondering are they taking the houses off the market in sydney....or not putting them up for sale....what about the private sales....???? see Melb has double the number more than auctions
all very interesting

 

[tech/a]

hello,

hello and good evening,

i heard the Residex results are out, anybody got them? how Melbourne go?

Satanoperca, i am getting excited about that slab of ruskies and chicken parma with vegetables coming up

prices to keep rising forever and ever
thankyou
robots

Yeh they will.

In 1967 my father bought a property in Adelaide for $9,800 and that was very expensive for the area and the time.(Blackwood) Last time I saw it sold was 1994 for $650,000.

My old man when I showed him had the same reaction as Nun.

LOL

sunshine and lollipops


have a great evening

His only comment was
"If only I knew then what I know now!!

The irony for all those who are in the Nun Tribe is

YOU DO KNOW NOW.
Its only fear which holds you back and always will.

I really hope one day that Nun's handle changes to
MUCHWISER.

Somehow I doubt that.

 

[kincella]

tech...your old man may not have worried so much about paying off the interest and capital in those days, if he knew how high it would be down the track............just pay off the interest...leave the capital...it will look after itself
might try that with the next little ones I buy...when I find them again

 

[kincella]

Do some research before making that big tree / sea change

article today about the unhappy people, its a good read, and note they probably cannot afford to buy back into the city...note only 50 took part in the research...

I recall Corowa back in 2000...now this place was popular for city folk, weekends...with the golf club and Browns Winery
bought a house for my brother...he liked the area....I was stunned when I went down on Sundays... dead as a doornail...only a cafe and bakery opened...think the supermarket closed at 12 on Sat....
but over the years the tree changers arrived...and Corowa has grown up...a bit...population doubled or tripled....
so if I were doing a tree change...I would spend a few weekends there beforehand...to check it out...
I love the city...so no chance of change for me...never ever

http://www.theage.com.au/national/when-the-treechange-dream-turns-to-dust-20090418-aaun.html?page=-1

 

[kincella]

New data plots boomers moving to the coast

wow...I like Bernard Salt....not just as a demographer...but he is a charterd accountant...and they are imo a canny intelligent group

so planning where to invest for the next 2 decades...you will find some good infor in here...including links to the ABS site...but that one is copyright..so just read if for yourselves
cheers
http://www.theaustralian.news.com.au/business/story/0,28124,25339677-25658,00.html

 

[Largesse]

anyone know where to find auction results that don't show up on that link robots posts?

there was a place i was looking at that was advertised to auction yesterday but didn't show up in the results

 

[MACCA350]

anyone know where to find auction results that don't show up on that link robots posts?

there was a place i was looking at that was advertised to auction yesterday but didn't show up in the results

It's a conspiracy

cheers

 

[Beej]

anyone know where to find auction results that don't show up on that link robots posts?

there was a place i was looking at that was advertised to auction yesterday but didn't show up in the results

You can try realestate.com.au search for sold properties feature. Most likely though it was withdrawn and the result not reported, so see if it is still listed for sale on Monday.

Cheers,

Beej

 

[johenmo]

...yet for me to get to work which is only a stones throw from the city (South Perth) Im looking at 1hour 20mins some mornings 50mins return.. No money I save can cover the loss of time each day and the anger driving to work causes me. QUOTE]

Bold is mine. I come from Perth. Don't miss the traffic into the CBD. n S/Perth is not much further away than I am.

The bold quote is exactly why I don't care if I live in a country town. House in Ballarat would be another 150++K in Perth for same thing. I am 15 mins by bicycle from work. 70 mins from Melb CBD by train (similar by car). I spend about an hour less travelling to work each day than I did.

Weather is crappy but I go back to Perth most Xmas to visit family and to thaw out.

Downside is house price growth is less but rental returns pretty good here.

 

[robots]

anyone know where to find auction results that don't show up on that link robots posts?

there was a place i was looking at that was advertised to auction yesterday but didn't show up in the results

hello,

can you bang up a link for the property Largesse and I will send of an email to Enzo Raimondo,

he will find out the situation

we need the details of the property

thankyou
robots

 

[Largesse]

hello,

can you bang up a link for the property Largesse and I will send of an email to Enzo Raimondo,

he will find out the situation

we need the details of the property

thankyou
robots

http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=105637865&f=10&p=10&t=res&ty=&fmt=&header=&cc=&c=43353865&s=vic&snf=ras&tm=1240126648