House prices to keep rising for years

[pedrod]

http://flood.firetree.net/

I beleive, 7m is the max level at which sea level could rise to if ALL ice melted at both north & sout poles. Not something I would be worried about if I were a property owner in UK. :

 

[Mofra]

I beleive, 7m is the max level at which sea level could rise to if ALL ice melted at both north & sout poles. Not something I would be worried about if I were a property owner in UK. :

Ice melting in the North Pole wont effect sea-levels; it's land-ice that will cause a sea level rise

 

[gfresh]

I beleive, 7m is the max level at which sea level could rise to if ALL ice melted at both north & sout poles. Not something I would be worried about if I were a property owner in UK. :

Adjust the slider at the top to see different levels. Wouldn't want to be in Amsterdam or most of coastal europe even if sea levels were to rise 1M.

Parts of the Goldcoast for that matter would also be in trouble.

But if it's all a load of bollocks maybe it's not something to worry about.

 

[wayneL]

And you only pay up to *rent* there if I recall??

Is renting somehow not paying up to live somewhere? Or is your intention to imply that my choice to rent where I live has some bearing on the argument? Only someone with status anxiety would bring that up as relevent. Seek help for that.

If I had bought where I live since being here I would have dropped at least £80,000, plus transaction and carrying costs that work out much higher than rent.

I buy value and happy to rent when it suits me.

As for Sydney, I've been there often enough to know I never want to live there. Nice harbour and some lovely areas, but overall... no thanks. I'd live in Bowral/Moss Vale etc though. That's more my cup of tea.

 

[wayneL]

But if it's all a load of bollocks maybe it's not something to worry about.

There is more to fear from carbon taxes than sea level rises.

 

[mazzatelli]

I'd live in Bowral/Moss Vale etc though. That's more my cup of tea.

IOW, you're a true Kath and Kim joke

 

[satanoperca]

We will all get to look forward to increases in taxes due to the actions of this government, got to pay for the spending some how.

Got to love Labor, old Ruddy come out today saying the Liberals were irresponsible during their rain and should have saved more, what, so that they could have increased the FHBG to $50K and keep the dream alive.

Go Labor, banana republic here we come again.

 

[Glen48]

Today we won't even mention Dun & Bradstreet's claim that 62.5% of Melbourne suburbs have a high statistical risk of people defaulting on their mortgage.
From Money Markets

 

[wayneL]

IOW, you're a true Kath and Kim joke

Nah, I'd buy near Fountain Gate if so. :

 

[Mc Gusto]

http://business.theage.com.au/busin...-out-even-at-the-lower-end-20090909-fhlu.html

THE surge in demand from first home buyers that has underpinned Melbourne's residential market for almost a year is drying up as prices in lower-end suburbs hit record highs.

With government grants to be scaled back from the end of this month, real estate pundits have been predicting a spike in first home buyer activity.

But figures yesterday showed the frenzy of first home buyers has already cooled, with the number of loans down 6.7 per cent in July, the second consecutive month of decline.

First home buyers accounted for 25.7 per cent of all lending in July, down from 27.1 per cent in June and 29.5 per cent in May, the highest level since records began in 1991.

 

[Beej]

http://business.theage.com.au/busin...-out-even-at-the-lower-end-20090909-fhlu.html

THE surge in demand from first home buyers that has underpinned Melbourne's residential market for almost a year is drying up as prices in lower-end suburbs hit record highs.

With government grants to be scaled back from the end of this month, real estate pundits have been predicting a spike in first home buyer activity.

But figures yesterday showed the frenzy of first home buyers has already cooled, with the number of loans down 6.7 per cent in July, the second consecutive month of decline.

First home buyers accounted for 25.7 per cent of all lending in July, down from 27.1 per cent in June and 29.5 per cent in May, the highest level since records began in 1991.

Makes sense though - FHB numbers have been increasing rapidly since Oct last year, and as a proportion of all buyers lept from 15% to just under 30% a couple of months ago. 25% is still high, the long term average is around 20%, so expect to see FHB numbers steadily fall back to that sort of level over the next 6-12 months I would say.

The thing is that all the money pumped into the market by the FHB surge will continue to work it's way through the whole market for the next 18-24 months, so I don't think we are near the end of the current rising trend for house prices in general as yet. Interest rates will be the key for the medium term I think.

Cheers,

Beej

 

[gfresh]

If that is the case, then the removal of the FHB will have little effect on the market.. wasn't that one of the reasons the market was meant to crash early next year? so count that one out.

 

[kincella]

Beej and Sydney siders will relate to this, Melbourne to follow the Sydney market...
some will not like this ...its the wealthiest investors views on property....research conducted by an international property group...on their clients views...of the property market...
investors surveyed had portfolio's ranging in size from the smallest of 10 mill to over 1 billion dollars worth...
42% of investors surveyed held over 1 billion dollars worth of property each
36% thought we are at 5.00 o'clock of the cycle...with 6.00 o'clock at the bottom...
64% surveyed believed the upswing would occur by 2010, with the majority thinking the latter part of 2010...
a stack would sell in the next 12 months, to buy more property in better or different locations....
not getting out of property, but using the window of opportunity to upgrade...
this group I believe is more involved with commercial property...the emphasis is not on residential....
however investors will already know the situation, which has a flow on affect in resi...
ps I note there is not one mention of interest rates....funny about that....
I guess its because the rates don't affect the wealthier people, as much as it does the others....and two, the bigger gains are made anyway, regardless of interest rates....
http://www.colliers.com.au/site/page.cfm?u=589

 

[Lancelot]

Hi all, I've been away for a while
Anyone heard when that numptie steve keen is going to do his walk to Mt Kosciusko?
I have some more holidays coming up and wanted to go and laugh, point and take unflattering pictures of him.
Maybe he'll have some of his ghpc mates with him

 

[Uncle Festivus]

36% thought we are at 5.00 o'clock of the cycle...with 6.00 o'clock at the bottom...

a stack would sell in the next 12 months, to buy more property in better or different locations....

Um, can't be that smart selling at the bottom of the 'cycle'?

 

[kincella]

ps I took a short cut during the week, drove up a street in Toorak I had not been that way in 5 years.....I was stunned to see all these beautiful new units and houses had replaced the old 3-4 bedroom single story houses, that had dotted that street before. Imagine I will find similar makeovers in some more streets.....although I note several demolishions going on in Williams rd, it.. Williams Rd has not been made over like the other street....more old 1970's units clutter that road....hence it takes time to acquire each unit and then makeover the whole set....versus the ease of acquiring one house for a make over...
anyway, I have seen this activity earlier in the year in a big way....due to low interest rates...and reluctance to sell.......its fun watching what the smart money does....

Renovators, investors drive property market
By Vikki Campion
The Daily Telegraph
September 12, 2009 12:01am
Text size
+ - Print Email Share Add to MySpace Add to Digg Add to del.icio.us Add to Fark Post to Facebook Add to Kwoff What are these? Builders Travis Eichorn, Richard Tanner and Brad Turner work on a house renovation project at Westleigh.
Investors and home upgraders drive recovery
Dubbed inv-aders by economists
Renovations are at "historical highs"
Realestate.com.au: Find a home
THEY are the invaders from another property boom.

First, there were the first home buyers, flush with government incentives driving NSW's property market recovery.

Now, it's investors and home upgraders, who economists have christened "inv-aders", who are expected to drive the 2010 housing cycle.

In its September Building Industry Prospects, BIS Shrapnel forecast a 7 per cent rebound in renovations - making it a bigger home makeover frenzy than that of the early 2000s - helping the broader property market recover.

BIS Shrapnel's senior manager for building Jason Anderson said inv-aders had been shut out of the market for the past four years as interest rates skyrocketed and confidence fell.

Despite inv-aders relieving the state's pressure-cooker housing market to a degree, the housing stock shortfall is forecast to double to 78,000 properties in the next 12 months.


Related Coverage
Realestate.com.au: Find a home

Upgraders are targeting houses more than 30-years-old across Sydney, from the inner city to the outer commuter belt, to renovate.

Adding to the boom, confident investors who buy apartments and houses off-the-plan will drive demand for new properties.

Loan approvals have already picked up in May and June.

"Living space will be the No. 1 factor," Mr Anderson said.

Addbuild Additions managing director Chris Books said the renovations market died last year but now inquiries were at "historical highs".

"There is a pent-up demand," he said. "We service wants and needs in this business. In good times it's all about flash decks and pool rooms. At the moment we are in a needs market - people need another couple of bedrooms and a bathroom."

Invader Chris Horspool is adding another storey, three bedrooms and remodelling the ground floor of his 1960s Petit and Sevitt project home at Westleigh.

"We wanted more space and to achieve that we considered if we would move, renovate or knockdown," he said.

"We decided on renovation for minimal disruption to our lives."

 

[nulla nulla]

Today we won't even mention Dun & Bradstreet's claim that 62.5% of Melbourne suburbs have a high statistical risk of people defaulting on their mortgage.
From Money Markets

You would expect that every suburb would have an element of people defaulting on their mortgages. I note that they don't define what is a "high statistical risk". What is it? 1% or 2%, 15% - 20%?
Sounds like Winston Churchills "lies, damn lies and statistics".

 

[aleckara]

Hi all, I've been away for a while
Anyone heard when that numptie steve keen is going to do his walk to Mt Kosciusko?
I have some more holidays coming up and wanted to go and laugh, point and take unflattering pictures of him.
Maybe he'll have some of his ghpc mates with him

Isn't that just a tad unsporting of you? Seriously everyone is entitled to their opinion. I do think that Australians still have the capacity (unlike the US and UK) to push property higher (i.e the whole economy isn't tied to real estate yet). It's not good or bad news though - there are winners and losers in everything. A lot of people think their success is theirs but a lot of it is being at the right place at the right time. The poor young people with average wages in our capital cities I would argue have lost out greatly even if they get into the market now - poor people weren't born earlier. Until wages catch up and there is pressure on this front prices will stagnate at the level of affordability the marginal buyer can afford. If immigration and foreign money props prices higher and locals can't afford housing in their own country I don't see this as a good thing.

 

[robots]

hello,

oh yeah, its on:

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

another above 80 result, more equity mate, this is fantastic, well done to those holding property in there portfolio, kings of the market

thankyou
professor robots

 

[robots]

hello,

equity mate

thankyou
professor robots