For a start, you don't need a new kitchen/bathroom every ten years - maybe every 20.
some of us older experienced people have been offering some good accurate advice about buying property....
just make excuses as to why renting is cheaper....read jan sommers books...about all the excuses people use as to why they should not buy a home
and then watch them squirm when prices go up...not down and they are priced out again.....
I have a theory...if you really want something...you will find a way of obtaining it
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.
I suspect there will be quite a bit of egg on face today. Although I guess you're right if by most of Australia you mean Canberra, Hobart and Darwin. Your constant claims that the Sydney property market has stabilized just don't hold water. Sydney and Melbourne both down more than double Brisbane during the quarter. Dec 08 quarter revised lower, oh yes, stabilization is here.
I suspect there will be quite a bit of egg on face today. Although I guess you're right if by most of Australia you mean Canberra, Hobart and Darwin. Your constant claims that the Sydney property market has stabilized just don't hold water. Sydney and Melbourne both down more than double Brisbane during the quarter. Dec 08 quarter revised lower, oh yes, stabilization is here.
This will be like water off a ducks back I fear....
standard responses to include :
"..... but we were expecting this"
"..... this is nothing new"
"..... median prices are not indicative of the values dropping"
"..... etc, etc, etc"
Pity the figures don't reflect the exaberated falls outwith the lower/middle FHB sector.
"We had believed that solid demand from first home buyers would have prevented a fall in house prices in the March quarter," wrote JP Morgan economist Helen Kevans.
First home buyer demand has increased since the Government expanded the grant in October, she wrote.
"This burgeoning demand has kept house prices at the lower end of the house price spectrum well supported," she said.
"It seems, though, that these price gains were swamped by falling prices at the top end of the market."
Seems I don't need to bother typing a reply as there are plenty here happily putting words into my keyboard for me!!
PS: For the record, I am surprised by the ABS stats for this quarter, and it doesn't fit with what I have seen in the area's I watch or in the area's that people I know are currently trying to buy. Also there seems to be conflicting data with APM and RP-Data figures telling a different story - so I suspect that there is a fair bit of median skewing going on due to the widely acknowledged FHB mini-boom in the lower price segments. Having said that, I've never said prices can't fall; they certainly did during 1990 (last recession), before rebounding strongly a few years on. I am still confident that this time around things will prove no different.
Cheers,
Beej
House prices tumble 7 percent as job pressure grows
4/05/2009 12:00:00 PM
By Emma Thelwell, ninemsn Money
House prices across the nation have fallen by almost 7 percent in the last year, piling pain on cash-strapped families already nursing heavy losses on their superannuation funds.
The Australian Bureau of Statistics survey reveals homeowners in Perth were the hardest hit, with prices down over 10 percent after falling more than 3 percent in the final quarter.
House prices in Sydney have dropped 7.3 percent in the year to the end of March, while Melbourne saw a 6.7 percent drop, Brisbane was down 6.3 percent and Adelaide slipped 2 percent. Meanwhile, house prices in Canberra suffered a 5 percent drop in value.
Hello,
" House prices to keep rising for years "
haha funny stuff .....
http://money.ninemsn.com.au/article.aspx?id=809366
Thankyou.
May as well close down the thread boys. Seems the crash is playing to the script perfectly. FHOG? No problem, just a blip on the radar.. crash continues on regardless. Whod have thought australia had less power to stop a housing crash than US or britain? Every bear on the forum thats who!
I wonder if rudd will let housing roll over die its natural death on budget night..........
Seem's JP Morgan's Helen Kevans had similar views on the market to mine.
The Australian Bureau of Statistics house price index - an average of prices in the nation's eight capitals - fell 2.2 per cent in the March quarter, the fourth straight quarterly decline.
Prices dropped 6.7 per cent annually.
Perth house prices were the hardest hit, dropping 3.6 per cent in the March quarter and 10.1 per cent over the year. In NSW, prices fell 2.9 per cent over the quarter and 7.3 per cent in the year to March.
sunshine and lollipops boys ?Inflation is all but dead ... the recession is killing inflation and now that the Australian dollar has stabilised, Australia is confronting a greater threat of deflation, than any inflation risks," TD Securities senior strategist Annette Beacher said.
Hello,
" House prices to keep rising for years "
haha funny stuff .....
http://money.ninemsn.com.au/article.aspx?id=809366
Thankyou.
hello,
"house prices keep rising for years"
rpdodgy.com.au
apm property value manipulators.com.au
paradise
thankyou
robots
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