House prices to keep rising for years

[robots]

If you don't think we should be so fixated on property ownership, why are you a property permabull?

Australia's demographics are wildly different to that of Hong Kong, Luxumbeurg, Monaco, or Germany. Your dream of every Australian renting a 53sqm apartment is a few centuries off.

hello,

maybe so, but is on the way and probably a little earlier

thankyou

robots

 

[gfresh]

I'm surprised by how affordable melbourne is to be honest..

Bayswater, Boronia, Ferntree Gully out east you can find 2br units for under $250k -- a few years old, and all within 35km of the city. All close to public transport (train), and all about 50mins via PT to the city. None of those areas are that bad with plenty of infrastructure there, and very established areas.

Up here (QLD) that amount wouldn't buy you squat really, or you'd have to be much further out where PT is pretty bad.. and wages here are a lot lower here unless you're involved with a few key areas. Yet prices have jumped a lot up here.

While for a few reasons I'm over Melbourne, but really, it seems that those that whinge about 'unaffordability' in Melbourne want either a large house, or want to live within 10km of the city for all it's "lifestyle" stuff - which has been the realm of the wealthy for a long time. Can't always have your cake and eat it too..

 

[xoa]

hello,

many people would be surprised to know the dimensions of a bedroom, alot of places in paris have pull down beds,

a development coming on line in melb of around 270 apartments, with the 1-bedders having pull down beds, 90% sold in a month

melton, frankston and gladstone park are examples of very affordable property

thankyou

robots

Affordable for who? A Melbourne-based speculator with too much credit on his hands, or an actual resident of these towns?

Some regions have more "affordable" housing, because they are economically depressed or a terrible place to live. Even a modestly priced house is unaffordable, if you're reliant upon centrelink or a low paying job. The bottom line is that $470k is the median. If something costs less than this, there's a good reason why. You'd be a brave man to bet upon further capital gains, unless wages increase proportionally.

You don't seem to understand my point about the futility of comparing the most expensive suburb of Paris to regional Australian towns. Prime real estate in Paris, New York, Hong Kong, or Shanghai will always command a premium, and for good reason.

 

[theasxgorilla]

Really, that's interesting. You'd struggle to craft a single bedroom out of 21sqm. Forget about a toilet, kitchen, or dining area. I'm dubious about the existance of that 21sqm apartment, but I'll assume you're telling the truth. In any case, let's compare apples to apples. It doesn't make sense to compare a riverside Parisian arrondissement to Melton.. though I'm sure some patriotic bogans may disagree.

These shoe-box appartments are very common in Stockholm. Frankly, I don't know how people can live like that, but they do it for affordability reasons, because they want to live in the centre of the city.

 

[robots]

hello,

here we go, equality for all

buying a house on centrelink payments, are u serious?

oh yeah got a dollar mate? out the front of coles,

so I climb ladders and bust my backside for 8hrs and just give it to the freeloader out the front of coles (who probably on centrelink) who wants to sleep into 11am every day and get a slab and pack of smokes

its like medicare, on the dole you walk right up and get you're skin cancer cut out or a finger fixed, you employed sir? yes oh a clinic is down the road just hand over a k,

workmate who rented in melton just recently bought in Melton (6mths ago), 200k,

21sqM in melb cbd would cost half that of paris cbd, howzat

thankyou

robots

 

[wayneL]

hello,

in europe we always here people rent for 15, 20 + years and they dont have this fixation with home ownership, (sure some exceptions)

this is entirely because many cannot afford it, my partner from germany and family still there they just could never afford the RE,

the great divide is occuring in aus and our ownership rates of 70% will gradually decline,

although it wont be the greedy landlord to blame (oh hangon I know who will be to blame)

thankyou

robots

Unmitigated rubbish. RE is waaaaaaaaaaaaaaaaaayyyyyyy cheaper than in Anglo countries (Well with the possible exception of USA now)

I have a friend in Munich who ownes a chain of Taverns and is pretty wealthy... prefers to rent.

1/ House price inflation is not out of control, it is not seen as a speculative punt.

2/ Tenancy laws are very pro tenant. You have as much security of tenure as a tenant, as you do as a mortgagor.

3/ It is more about attitude than money.

The only thing pushing prices up a little is the bloody Pommie property mad punters. The locals ain't playin'.

 

[xoa]

hello,

here we go, equality for all

buying a house on centrelink payments, are u serious?

I never said they should.

I said it's not surprising to see lower house prices in communities where many people are on unemployment or low income jobs. People's capacity to consume any good is finite and determined by their incomes; a concept which evades many permabulls.

 

[shogun]

e) increasing cost of capital (interest rates)

How does an increasing cost of capital RAISE house prices? That is an interesting one!

My thoughts are the opposite - the demand side has been fueled (with extreme heat!) by debt. Higher cost of capital will have a dramatic impact on the prices people can offer.

 

[robots]

hello,

rubbish,

like us here, many in europe want to own a home and strive for that,

yes tenure is sound because that is life,

21sqM for 365k aus, find me that in melb or syd, you could not and will not

thankyou

robots

 

[wayneL]

Hello,

Take a look \/

Thankyou

 

[robots]

hello,


21sqM for 365k aus, find me that in melb or syd, you could not and will not

hello,

my example was that in paris 21sqM cost 365K, find me that in melb or syd, so people get an idea aus is no way at the top of the list

thankyou

robots

 

[wayneL]

hello,

my example was that in paris 21sqM cost 365K, find me that in melb or syd, so people get an idea aus is no way at the top of the list

thankyou

robots

ROTFLMAO
Paris ain't Melbourne or Sydney.

If you want a pad overlooking the Champs Elysee, or Hyde Park, yer gonna have to cough up.

But you can find Apartments in Paris environs for comparable prices to Oz. Get out into the sticks a bit and it's cheaper than Australia.

That said, It's the poms who've pushed prices up in France.

 

[wayneL]

hello,

my example was that in paris 21sqM cost 365K, find me that in melb or syd, so people get an idea aus is no way at the top of the list

thankyou

robots

You might want to have a look at this; minutes from Paris according to the ad:

 

[robots]

hello,

no example was for re in good area of paris, nothing fantastic,

the sticks of aus are going for huge prices too,

things are going well in aus still Wayne, like most great places in the world,

just the good ol' US of A being exposed for the fraud it is

thankyou

robots

 

[wayneL]

hello,

no example was for re in good area of paris, nothing fantastic,

the sticks of aus are going for huge prices too,

things are going well in aus still Wayne, like most great places in the world,

just the good ol' US of A being exposed for the fraud it is

thankyou

robots

Show me a link that verifies your assertion. Because until then, it's tosh.

Central Paris is expensive, but deserves to be so, just like central London. But let's compare like with like. Exactly where is this studio and find me a similarly priced unit to look at.

 

[robots]

hello,

hahahahaha.......

croisette minutes to paris, yeah like about 200 min, you need to move on from the dodgy uk real estate web sites

thankyou

robots

 

[wayneL]

hello,

hahahahaha.......

croisette minutes to paris, yeah like about 200 min, you need to move on from the dodgy uk real estate web sites

thankyou

robots

Get your facts straight before making a buffoon of yourself. It ain't that Croisette. Read the ad dude, it's near the golf course of Saint Germain en Laye at Carrieres sous Poissy.

30 minutes by car to Champs Elysees
ThankYou

 

[wayneL]

hello,

hahahahaha.......

croisette minutes to paris, yeah like about 200 min, you need to move on from the dodgy uk real estate web sites

thankyou

robots

Maybe if you went on foot and stopped off at a few cafes on the way.

\/ With thanks to the person with Google Earth... you know who you are.

 

[chops_a_must]

If you don't think we should be so fixated on property ownership, why are you a property permabull?

Australia's demographics are wildly different to that of Hong Kong, Luxumbeurg, Monaco, or Germany. Your dream of every Australian renting a 53sqm apartment is a few centuries off.

I disagree.

I don't think every Australian will live in Apartments, but it has to be a growing trend, there is no other way we can sustain our sprawl.

And you can see it already.

Premiums are paid for property where costs of living are reduced because of location. This is a different trend from Australia 10-20 years ago where isolation was rewarded.

In WA, you only have to look at areas that have had the best price appreciation. Thornlie, West Perth, Subi Centro, East Perth and I dare say Wellard. All are very cheap to live in when rent is taken out, so you pay a premium for that.

Any apartment living with access to great facilities will be the way to go in the future. Increased energy costs are a given, whether from peak oil, or carbon trading. And those positioning themselves for such will be rewarded.

Although I mainly disagree with Robots, and am a property bear, these things are glaringly obvious.

For mine, the place to be for price and costs of living would be inner city Melbourne, without a doubt. You're paying a half to a third of what you are paying for the equivalent in Perth. And it's in Melbourne! And you don't need a car to be a functioning citizen. So it's a no brainer.

I've said before here, I'll be looking at Murdoch and inner city Perth when the time is right. Because the cost of living and energy trends make that the obvious choice, and I think people would be foolish not to consider that when looking at property investing from here in.

Cheers.

 

[xoa]

I disagree.

I don't think every Australian will live in Apartments, but it has to be a growing trend, there is no other way we can sustain our sprawl.

And you can see it already.

Premiums are paid for property where costs of living are reduced because of location. This is a different trend from Australia 10-20 years ago where isolation was rewarded.

Cheers.

I also believe that higher density living is desirable, at the right price. Not $6000 per square metre. I take issue with those greedy individuals who infer that living in a shoebox on a 30-year-mortgage is a solution for those priced out by the bubble.