House prices to stagnate for 'years'

[Tysonboss1]

Yes I agree slow land release contributes massively, quite humourous considering the vast tracks of land we have, ?

what is humourous is you keep mentioning that Australia has all this empty land as if that should be some how keeping prices down in the capital cities

It doesn't really matter how much spare land Australia has, There is not enough spare land where we need it.

I mean all the spare land in Australia isn't going to help prices in the capital cities,... Forget about Australia being the most sparsely populated country in the world,... unless we force thousands of people out of the capital cities and into the regions for all intents and purposes Australias capitol cities may as well be islands.

 

[numbercruncher]

Ok thats the excuse for the capital cities, whats the excuse for regional areas where average wages are even lower and properties are on atleast that 7x pe multiple ?

If youve ever flown across oz you surely would of noticed we have land coming out our spinkter, should give the stuff away to spur a building boom.

 

[explod]

what is humourous is you keep mentioning that Australia has all this empty land as if that should be some how keeping prices down in the capital cities

It doesn't really matter how much spare land Australia has, There is not enough spare land where we need it.

I mean all the spare land in Australia isn't going to help prices in the capital cities,... Forget about Australia being the most sparsely populated country in the world,... unless we force thousands of people out of the capital cities and into the regions for all intents and purposes Australias capitol cities may as well be islands.

Absolutely, anyone living (and most do) more than 30 k's out of Melbourne CBD have to sit in their cars for 4 hours per day to get to work. Unless of course they like to leave at 6.30am and leave work at 3.pm or 7pm. The Monash freeway, completed only a few years ago is a grid locked car park. And they wonder at road rage.

 

[explod]

Ok thats the excuse for the capital cities, whats the excuse for regional areas where average wages are even lower and properties are on atleast that 7x pe multiple ?

If youve ever flown across oz you surely would of noticed we have land coming out our spinkter, should give the stuff away to spur a building boom.

Yes and many of them are running out of water every summer. Driest most arid continent in the world.

From 1970, sheep numbers down 110% as just an aside

 

[Julia]

Thanks Julia - Good tip from what i Just read ....

I read a lil while back you broke a bone in you hand? All come better?

Nice of you to ask, N.Cruncher. Thank you.
No, the wrist is broken. I have six weeks in plaster from my knuckles to the elbow. Trying to do everything with my left hand which is pretty hard.

 

[chops_a_must]

what is humourous is you keep mentioning that Australia has all this empty land as if that should be some how keeping prices down in the capital cities

It doesn't really matter how much spare land Australia has, There is not enough spare land where we need it.

Pretty much. Our cities suffer from some of the most massive sprawl that can be seen on the planet (people per km within a metropolitan area).

Our cities border on geographical dysfunction because of their size, and therefore any further expansion is very problematic.

But despite all this, my most recent urban design data says that (including apartments) blocks of land have increased in size by about 33% in the last 15 years (published 2004 from memory). Which really is insane when you look at the problem...

P.S. - which I know is actually contrary to what someone suggested previously...

 

[Tysonboss1]

Brisbane House prices have increased by more than 20% in the last 12 months today's paper said.

I Hope not many people took this thread to seriously when it was first posted.

 

[KIWIKARLOS]

Sydney councils have massive planns for urban consolidation. Along every existing rail line there is a 20 year plan to install thousands of units / dense residential.

I was speaking to one of the planners for the North Shore of sydney they are building tens of thousands of units along that line. They expect alot of older couples to move from large family homes into these units as they are less maintainance and close to amenities. I believe in urbn consolidation rather than land release as all i think land release does is create more transport and service problems and destroys what little remaining east coast habitate there is this side of the blue mountains.

look at all the European cities they were built before the motor vehicle was around and they are perfectly set up for mass transit they will be the ones laughing in 10 years time when petrol is $300 a barrel. We should move away from growing outwards and grow upwards with more emphasis on doing away with vehicles.

Personally i don't know how anyone can handle travelling 3-4 hours a day to work just to live

 

[robots]

hElLo,

another great year for RE,

some favourites around melbourne, st kilda east up 44%, caulfield up 48%, malvern similar,

superb effort to all those involved,

thankyou and happy new year

RoBoTs

 

[explod]

hElLo,

another great year for RE,

some favourites around melbourne, st kilda east up 44%, caulfield up 48%, malvern similar,

superb effort to all those involved,

thankyou and happy new year

RoBoTs

Thads goood, wad about Dandenong, Cranbourne, Werribee, Melton, big parts of Geelong etc.., where most of the people live pal

Happy new year for you and I but some are feeling the pinch

 

[robots]

hello,

happy new year to those in cranbourne, dandenong, hallam, werribee, melton and any others I missed

spend less and save more

thankyou

robots

 

[numbercruncher]

Pretty good advice Robots, that mantra might actually be forced upon people this year, well the spend less part anyways .....

AUSTRALIAN households are about to be swept up in the global credit crunch, with the major banks raising interest rates across the board to protect their profits.

http://www.news.com.au/heraldsun/story/0,21985,22994037-664,00.html

 

[YChromozome]

I was speaking to one of the planners for the North Shore of sydney they are building tens of thousands of units along that line.

I have no doubt. Below is a photo of the Chatswood Transport Interchange. What you see now is the lower floors of the retail complex. When complete there will be three residential towers built on the site, 40 stories/168m, 36 stories/155m and 30stories/116m.

No less than 100 metres up the track, you have Mirvac's Pacific Place Residential Developments.

The building in the foreground is Mirvac's recently opened Cambridge Apartments. Residents have only been in for a couple of weeks. Just behind it is Mirvac's EPICA and Altura towers. (The Altura is hidden). Up a little further is some of Mirvac's Medium density apartments. (Couple of floors)

And that concrete slab over the rail line, that is Mirvac's next tower.

But it is not much different to St Leonard's two stations into the City on the Northern Line. They have built the forum towers on the St Leonard's Train Station, comprising of 782 apartments complete with supermarket & retail stops. They also have some medium density apartments behind the towers.

And this is only two stations on the North Shore Line.

 

[ithatheekret]

I think it's great , if prices fall even better , interest rates are spooky yeah , but ...... after my last visit to Sydney I noted we could have dispensed with the driver and caught a train from the airport . That impressed me , I thought , it was looking like a semi-London . Tenants / owners could walk out the door , shop , get on a train to catch a flight etc. , I can't stand trains and buses , but would use them in that circumstance , because I hate driving period and only do it under protest .

Those are prime renters too , perfect for overseas students $$$$$

 

[YChromozome]

Couldn't agree more. Those photos are taken from my loungeroom window.

I frequently travel interstate, so I catch the train to central then to domestic. Beats the day parking rate and the tolls. If I go down to the 2nd floor, there is a walkway over the road into a smaller shopping center, then a walkway from that shopping center into Westfield. In the wet there is no need to venture outside.

As Kiwikarlos says, even better for the elderly too. Most of these style developments also have 24 hour security and concierge.

 

[robots]

hello,

not to sure if I would want to be the first buyer though, with that many to be built in the vicinity,

ychromosome, the one's that are just are open are they reaonably well occupied?

thankyou

robots

 

[YChromozome]

I never thought I would see the day that I was telling Robots that property was selling like hot cakes. The Cambridge was sold out prior to completion and they don't exactly come cheap.

Your right Robots, I wouldn't be a buyer. I can't see how my landlord can make any money on rent, and that's before the huge strata levies and rest of the outgoings. Obviously, they must be investing for capital appreciation only. Two walls of my lounge room is glass, so I have reasonable views in quite a radius, but come a couple of years that could be a different thing.

Interesting the CRI towers will be build subject to "Market Conditions" . .

 

[Tysonboss1]

I can't see how my landlord can make any money on rent, and that's before the huge strata levies and rest of the outgoings. Obviously, they must be investing for capital appreciation only. Two walls of my lounge room is glass, so I have reasonable views in quite a radius, but come a couple of years that could be a different thing.

Interesting the CRI towers will be build subject to "Market Conditions" . .

I wouldn't be investing in the building's you are taking about either,... Unless you are investing in the actual developer.

I think as far as chatswood goes the best investments would be those two and three story walk up apartment buidings around chatswood for the simple fact the body corp fees are cheaper and there is a much higher land content.

 

[robots]

hello,

not to sure if I would want to be the first buyer though, with that many to be built in the vicinity,

thankyou

robots

hello,

huge developer profit most likely tysonBOSS,

this is the catch for people though, who will buy, oversea's investors, locals, maybe developer hold like meriton

thankyou

robots

 

[numbercruncher]

More supply + rising Interest rates + credit crunch = downward pressure on prices.

Developers might be wise to bring new projects to market asap.

Australia most unaffordable RE market on the planet, cant stay that way for ever, pay your employees more, solve's problem make min wage 50k and average wage 100k and alls good :