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House prices to keep rising for years

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knocker said:
Port douglas nice
cairns nice
:)
Click to expand...

I was going to buy in Port Douglas prices must be down by now, but it's a long way to go for a weekend, better in Sorrento or Portsea but they're still expensive.

Maldons nice easy now the new freeways through.
 
Robots,
memory fading now...but pretty certain I lived in Piper St Kyneton, opposite the showgrounds for a short period of about 12 months when I was only 12.... I had a Kelpie dog, that I exhibited in the working dog classes and won 3rd prize...I was aged twelve at the time..... aged 12....**** stunning result when I think about it now...but at the time I was dissapointed...I expected to win....can any of you imagine a 12 year old pitting their skills against the best in Vic...and coming 3rd....at age 12 ????

fond memories of Kyneton High School and although boring for a 12 year old....family had big ties with the area for several generations...hence my interest...then and now....
 
MrBurns said:
I was going to buy in Port Douglas prices must be down by now, but it's a long way to go for a weekend, better in Sorrento or Portsea but they're still expensive.

Maldons nice easy now the new freeways through.
Click to expand...

Don't really like victorian beaches. never have. I guess squeaky bay at wilsons prom is ok, the rest are overated.
 
I used to spend most weekends at Sorrento...a friends place...not mine...

now I have been saying for ages....that some people will take whats left and move into property...never to return to the stock market.....

its showing up so soon...

Share abandon, but at what cost?
Richard Webb
June 28, 2009 Page 1 of 2 Single page view

AUSTRALIANS have quit the sharemarket like rats from a sinking ship.

A study by the Australian Stock Exchange shows that 1.3 million investors decided to sell out of shares completely in the past four years, taking to 2.5 million the number who have owned shares and have shed them.

That's equivalent to more than half the population of Melbourne abandoning arguably the best-performing investment class in the long term. It's 12 per cent of the Australian population. A big number in anyone's book.

http://business.theage.com.au/business/share-abandon-but-at-what-cost-20090627-d0j5.html
 
looks like these people might be investors, they are not FHB...
but its getting too hot too early....IMO
most investors are waiting for the Sept change in fhb grants before entering the market again.....and with another 1 or 2 rate cuts...that sounds like a good plan....

Record auction rate sparks growing concernChris Vedelago
June 28, 2009

MELBOURNE'S auction clearance rate has held its ground at the second-highest level on record, with this latest performance fuelling speculation the market could be heating up too much, too fast.

The Real Estate Institute of Victoria reports this week's clearance rate was 86 per cent for 425 auctions. The results of another 31 scheduled auctions were unreported.

This is the seventh consecutive week when the clearance rate has been above 80 per cent, while private sale transactions have continued to surge ahead of even 2007 levels.

"There's no doubt that consumers are showing strong confidence in Melbourne's property market, judging by the results we're seeing for both auctions and private sales," said REIV chief executive Enzo Raimondo.

The overall sales performance, and increasingly common reports of prices being achieved well above reserve, is sparking plenty of confusion and some concern.

"It's not just supply and demand any more. You look at some sales and people are paying these prices with seemingly no logic behind the price they pay … they're buying properties just because they can afford to," said buyer's advocate Michael Ramsay.

In Brunswick, a crowd of about 400 watched, stunned, as the sale price of 10 Charles Street soared 61 per cent ”” or nearly $1 million ”” above its reserve.
Intense competition between four bidders saw the 1525-square-metre block sell for $2.58 million against a reserve of $1.6 million. Barry Plant real estate quoted the property at $1.5 million to $1.6 million.

http://business.theage.com.au/busine...0627-d0k5.html
 
hello,

thanks to Kincella for the links, legend man

with immigration still ticking over the race will always be on for people to buy a residence,

with yourself in total control of the "property" typically, no managers, no boards, no advisors and the changes which appear likely with super

the tax free environment of the home is looking extremely good

fantastic

thankyou
professor robots
 
Yes thats right robi but not in australia. Just picked myself up another bargain this week in uk. 100k end o terrace three bedder. Previous owns went belly up, a little bit of work and I will rent out each room individually for 90 to 100 pound a week. very nice, close to m4 ascot etc. interest rates nice, Mr Halifax gave me a nice loan. thank you very much
 
you got a 3 bdr terrace for 100k.....thats pretty hard to believe....is it in a rundown place.....rundown condition.........
sounds awfully cheap.....in Melb the kids pay around 150pw plus in the city to share
 
100k pound yes it needs some work inside, previous owners took doors light fittings etc. Probably spend about 15 k Average rent here for a double room is 100 pound per week, i rent for 95, a single room gets about 80. You do the math
 
knocker said:
100k pound yes it needs some work inside, previous owners took doors light fittings etc. Probably spend about 15 k Average rent here for a double room is 100 pound per week, i rent for 95, a single room gets about 80. You do the math
Click to expand...

So you think the property market has bottomed in the UK for now? PS that sounds like a great investment!

Beej
 
kincella said:
looks like these people might be investors, they are not FHB...
but its getting too hot too early....IMO
Click to expand...

honestly 'too hot too early' when did it get cold??! It is a massive worry for the average buyer mortgaged to the hilt thinking they can afford property with the FHBG and interest rates at 5% going in with F-all deposit.
If it does get cold, and if fundamentals like unemployment etc spike up then it will get cold, these people are going to find themselves in a whole world of pain. The market has recovered from a small dip no doubt in my mind but whether that dip was the decline that was expected due to this recession i highly doubt it.

We had a quarter of downturn and a quarter of flat to positive. We are yet to feel the real effects of the global downturn and what is the greatest financial crash in modern times. If the next quarter is down things are going to get very skinny and that includes property.

Just my opinion but I will not buy at current levels it is madness.

Thanks

Gusto
 
kincella said:
The overall sales performance, and increasingly common reports of prices being achieved well above reserve, is sparking plenty of confusion and some concern.

"It's not just supply and demand any more. You look at some sales and people are paying these prices with seemingly no logic behind the price they pay … they're buying properties just because they can afford to," said buyer's advocate Michael Ramsay.

http://business.theage.com.au/busine...0627-d0k5.html
Click to expand...

It all very simple.

The Government gives the first home buyers a boost and encourages the banks to lend out enormous sub prime loans. Then the first home buyers get ripped off as developers & agents raise prices - sadly, the handout provides a negative advantage to these inexperienced buyers.

Then there is a large market for higher value properties from the people who sold to the first home buyers. This inflates the prices as demand skyrockets.

So, all we have to do is wait until the Government runs out of money - that is when the collapse will happen...and it will happen!

Cheers
 
hello,

good evening, gee some selective reading going on by the members out there

anyhow, check this:

http://www.smartcompany.com.au/adve...ces-surge-4-in-first-five-months-of-2009.html

bang that in your pipe brothers, that chicken parma and slab of ruskies is looking real good Satanoperca, dont disappear man

and on it rolls, what a day

sorry sorry, hang on hang on, no one is going to have a job in 2 years, interest rates are going to 5000%, we going the way of Japan, got to be true i read it on a blog

thankyou
associate professor robots
 
hello,

hello hello hello, anybody out there?

fantastic results out today regarding the property, crash anyone?

so much for bubble land, just reality

thankyou
robots
 
Hi Robots....
I have been busy working man....tax deadlines today....biggest stressful day of the year for me....and paid all the bills for the tax deductions for 2009

....just checked in to see if I won some money in the big lottery...but no....

taking a break for the next week...sort of. ...still have too much work to do....

I have been too busy to follow whats going on with property.....but am sure its all OK.....another interesting 6 months coming up....

I really have to get my house in order...so to speak....been neglecting things this past 2 months because of work....
so looking forward to a spring clean...in winter....and then addressing all those other things I need to do......
keep up the good posts....:)
cheers
 
hello,

just in case anyone missed the post before, this is the direct link:

http://www.rpdata.com/

i know our friends in the UK keep a KEEN eye on the data coming out of Australia so hope you find it informative (since they back online, credit flows must be working)

thankyou
associate professor robots
 
robots said:
hello,

just in case anyone missed the post before, this is the direct link:

http://www.rpdata.com/

i know our friends in the UK keep a KEEN eye on the data coming out of Australia so hope you find it informative (since they back online, credit flows must be working)

thankyou
associate professor robots
Click to expand...

hi,

ah yeah top post professor thanks for the link

sunshine and lollipops

cheers
pepperoni
 
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