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I don't know what areas, or types of property NC has been looking at.
4.5% is the rental yeild on the average, Nothing to do trophy investment in my market.
House prices to stagnate for 'years'
- Thread starter krisbarry
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I don't know what areas, or types of property NC has been looking at.
4.5% is the rental yeild on the average, Nothing to do trophy investment in my market.
hello,
if its so evident,
give an example, what suburb, what street, what street no, what was the last registered sale price,
if so many are dropping like flies should be fairly easy to substantiate,
what BTL companies have gone under,
you got nothing, keep up the doom and gloom
thankyou
robots
if its so evident,
give an example, what suburb, what street, what street no, what was the last registered sale price,
if so many are dropping like flies should be fairly easy to substantiate,
what BTL companies have gone under,
you got nothing, keep up the doom and gloom
thankyou
robots
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Robots, I think you need an oil change along with a grease and lube...
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NC,OOoh - for those of you without access to xe.com, 28k pounds is 65k AUD - all in a month, and those not familar with the UK its a rock with over 60m in an area much smaller than Victoria, considering our massive land shortage surely we couldnt suffer a similar fate ?
As much as you seem to be hoping for a drastic pullback in property prices, we'd need 3 similar months here just to get back to where we were 791 days ago (the date of the original article). Given the recent resiliance of the local markets in a variety of conditions it would appear any drop in Australian residential property prices (commercial is a different kettle of fish in terms of supercycles) would occur at a much more subdued rate.
If this doesn't occur at the rate you are hoping, I hope you can find some other crisis to glean some enjoyment from. Perhaps you might find a few bargains at some business firesales?
Cheers
numbercruncher
Beware of Dropbears
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Hi Mofra,
Im not actually hoping for anything just commentating on how I percieve the situation.
Surely you can concede most of the property boom can be directly attributed to far too cheap and easy credit ?
Property prices on a historical p/e have averaged at 4x average earnings and now 7+x , Id have no debate in this thread if average wages where 100k rather than 50.
Good luck with your investments.
ps. I have absolutely no problem with and enjoy snapping up bargains during firesales, and surprisingly enough have positioned myself to do so.
Im not actually hoping for anything just commentating on how I percieve the situation.
Surely you can concede most of the property boom can be directly attributed to far too cheap and easy credit ?
Property prices on a historical p/e have averaged at 4x average earnings and now 7+x , Id have no debate in this thread if average wages where 100k rather than 50.
Good luck with your investments.
ps. I have absolutely no problem with and enjoy snapping up bargains during firesales, and surprisingly enough have positioned myself to do so
.
explod
explod
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No one, with any maturity is enjoying this. I have family members in the western suburbs, eastern, southern and northern to Melbourne, one in Sydney and two in Brisbane. I can assure you that from their stories alone we are heading for a problem.
Profile:- children at school, mortgage, both working to make ends meet. Hung on in the hope that a change of government might help;
Problem:- rising interest rates, rising fuel costs (big issue), rising food prices, cant cut back here with kids.
Outer suburbs like these, property prices are dropping and with some the mortgage is getting close to total equity.
Some say serves them right. I say the industries of real estate, banking and government enthusiasm has encouraged it.
Just watch the rush for everyone to start selling once a certain realisation point is reached. Maybe the Centro fiasco will start something and from what some are indicating, Centro may be just the ring of the bell at the start of the game.
numbercruncher
Beware of Dropbears
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http://www.abc.net.au/news/stories/2007/12/18/2121991.htm
The RBA seriously has its finger on the trigger, the big four are already wearing extra costs and are widely tipped to raise rates in Jan over and above the RBA official rate.
hello,
until replacement cost gets reduced I cant see much happening, if companies reduce the cost of things then RE may reduce
I am talking basic replacement cost
do you think a bmw price tag will be cut in half at the dealer?
goodluck with you're investments
thankyou
robots
until replacement cost gets reduced I cant see much happening, if companies reduce the cost of things then RE may reduce
I am talking basic replacement cost
do you think a bmw price tag will be cut in half at the dealer?
goodluck with you're investments
thankyou
robots
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Yeah, but sometimes its to do with how many folks are in a position to buy and how many can't afford to hold what they got. With less funds available in Aust (30% of loaned money has come from overseas sources currently drying up and more to come over the next 12 months plus).
As an investor I do not want to believe the stock market will go down when it is rising, but @#&^ it does. Why do you think it would be different for other investments, house prices of property in the UK, US are going down. No one wants to buy right now as they can see things ain't right.
(eg. if that dealer has 100 BMW's and 10 customers the price is going down dude)
hello,
last I looked the world hasn't ended, transactions of all sorts are still going on,
cars are still on the roads, the newsagent is still open, father christmas is going to turn up next week, the bank is still creaming it
thankyou
robots
last I looked the world hasn't ended, transactions of all sorts are still going on,
cars are still on the roads, the newsagent is still open, father christmas is going to turn up next week, the bank is still creaming it
thankyou
robots
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Never said the contrary....just saying that maybe the economic conditions are changing, does appear that way, things will progress as they always will, it ain't the end of the world, just damn interesting.....
numbercruncher
Beware of Dropbears
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Cost doesnt matter when the punters cant borrow money, Just ask Centro, sitting on about 70pc leverage and can remain solvent until about Feb.
- Once the " Download an ABN and tell me some lies" financing is out of the game, ouchers. This credit crunch is rapidly morphing into a credit crisis. As the previous poster mentioned 30pc of Credit here comes from OS sources, just take that out of the system and its game over.
People are surely taking notice, slowly edging up out of there seats and walking towards the door, wait till someone yells fire and theres a stampede.
All this easy credit has done is allow the masses to borrow from the future, now the future is catching with the now.
The new CEO of ANZ gave investors a briefing today ....
http://www.abc.net.au/news/stories/2007/12/18/2121846.htm
Holes appearing in the fractional banking system perhaps ?
If I was the manager I would tell my salesman to get the 10 customers fixed up at the normal price and make sure they were happy. (who wouldn't be happy with a beamer) I would ask him to ask them to recommend the dealership to their friends and work hard to sell the other 90. Life wasn't meant to be easy. Where there is a will there is a way.
wayneL
VIVA LA LIBERTAD, CARAJO!
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The Austrian bust in a nutshell.
numbercruncher
Beware of Dropbears
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Average income of your suburb x4 -2.5pc for some realestate shark to spend 6 hours selling it.
Thankyou.
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Yes campbells make a really nice vegetable soup. fat free
wayneL
VIVA LA LIBERTAD, CARAJO!
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Don't really have to go to the soup kitchen at all, just stand around any High Street queue (British people love to queue) and eavesdrop for a bit, you'll hear them.
Used to hear the same things in Oz.
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