House prices to stagnate for 'years'

[robots]

hello,

great news today with the RBA leaving interest rates on hold, one extra ruski with dinner tonite

outlook is for fed banks across the world to drop rates commentators are reporting (thanks to the credit crunch), awesome stuff

hold on

thankyou

robots

 

[Flying Fish]

hello,

great news today with the RBA leaving interest rates on hold, one extra ruski with dinner tonite

outlook is for fed banks across the world to drop rates commentators are reporting (thanks to the credit crunch), awesome stuff

hold on

thankyou

robots

great so i can borrow up to the hilt again

 

[robots]

hello,

borrow what you like,

thankyou

robots

 

[numbercruncher]

Hello,


Youve surely sold every available House by now ?

It must be time for your Government mates to release some more land and your developer mates to build some more is it not ?

 

[Flying Fish]

So this means houses will rocket !!

 

[robots]

hello,

who know's flying fish, your guess is as good as mine

all I know is, if rates stay the same then mortgage payment stays the same

thankyou

robots

 

[Flying Fish]

hello,

who know's flying fish, your guess is as good as mine

all I know is, if rates stay the same then mortgage payment stays the same

thankyou

robots

mmm but in real terms mortgage rates are not staying the same.....
think about it

 

[robots]

hello,

sorry, thats right there getting lower

thankyou

robots

 

[Flying Fish]

hello,

sorry, thats right there getting lower

thankyou

robots

 

[wayneL]

Oh please!!!!

It's "that's" & "they're"!

Thank You!

 

[Flying Fish]

give robots a break.

he's been through the ringer lately lol

 

[Kimosabi]

hello,

great news today with the RBA leaving interest rates on hold, one extra ruski with dinner tonite

outlook is for fed banks across the world to drop rates commentators are reporting (thanks to the credit crunch), awesome stuff

hold on

thankyou

robots

hahaha, you are such a Spruiker Robots.

The RBA might be leaving interest rates on hold, but banks and Mortgage Lenders are increasing rates and lending requirements regardless of what the RBA is doing because of the Global Credit Crunch.

The Reserve Banks are soon to be irrelevant when the next lot of shockwaves hits Global Credit Markets.

The Reserve Banks are just prolonging the ineviatable...

 

[Flying Fish]

hahaha, you are such a Spruiker Robots.

The RBA might be leaving interest rates on hold, but banks and Mortgage Lenders are increasing rates and lending requirements regardless of what the RBA is doing because of the Global Credit Crunch.

The Reserve Banks are soon to be irrelevant when the next lot of shockwaves hits Global Credit Markets.

The Reserve Banks are just prolonging the ineviatable...

Oh no money for nothing and my cheques for free lol

 

[numbercruncher]

The Reserve Bank left the official interest rate on hold yesterday, but in the real world, with the rates that matter, it's a different story.

Key money market interest rates that determine the cost of finance for households and companies are soaring.

Leading economists say the resulting crunch is "unprecedented in modern times".


"So even though the RBA's only increased interest rates by 25 basis points a month ago, there's a much more substantial increase in interest rates awaiting the economy over the month ahead."

http://www.abc.net.au/news/stories/2007/09/05/2025287.htm


Ouchers ....

 

[tech/a]

Well I just bought another one.

Esplanade.
Land value $460,000
House 360 square meters.
Cost to build this quality $1500/ meter.$540,000.

Thats a Mill.
Purchase price $690,000.

No brainer!

 

[BentRod]

Which esplanade Tech?

Largs Bay area?

 

[tech/a]

Moana.

Its a forgotten Esplanade---keep it quiet.

 

[Kathmandu]

Moana.

Its a forgotten Esplanade---keep it quiet.

Got to be happy with that, even if it did nothing, after looking at RE.com, it still looks like a nice bit of beach to play on.

Bit of new stuff getting built around there and closer in as well.

Hard to imagine doing nothing though,quiet little Yeppoon close to me has $400k places 5 years ago going for $2mill+ now.



Dave

 

[Kathmandu]

When do you all reckon those house prices are going to stagnate again?



http://www.news.com.au/couriermail/story/0,23739,22383886-5011140,00.html




PROPERTY prices are skyrocketing in the state's most exclusive suburbs as cashed-up Queenslanders splash out for lifestyle locations.

New figures released today by the Real Estate Institute of Queensland show huge growth in house prices around the state, especially in thriving regional centres.
Mining centre Mount Isa was up a massive 47 per cent on the previous year, Rockhampton 33 per cent, Gladstone 26.6 per cent, Townsville 20 per cent and neighbouring Thuringowa 15.1 per cent.

What your house is worth: Suburb-by-suburb liftout guide in The Sunday Mail

REIQ chairman Peter McGrath said the fast-growing economy had made a lot of people very wealthy and they were ready to spend up big to get what they wanted.

"The top end is just getting stronger and stronger and stronger – and not just in Brisbane and the Gold Coast," Mr McGrath said. "It's right up and down the coast from Cooktown to Coolangatta.

"Places like Yeppoon on the Capricorn Coast are booming. If it's overlooking the water, people want to be there and they are ready and willing to pay for it."

Brisbane has a new millionaire's row, with the median house price in the inner-city suburb of Newstead exploding by more than 50 per cent in the year to June to $1.137 million.

It pushed the riverside suburb past nearby Hamilton – traditionally the capital's priciest property area.

Hamilton recorded a median sale of $1.056 million in the 12 months, up 29 per cent, and neighbouring Ascot also edged closer to the magic million mark at $948,750.

Overall, the median price in the Queensland capital increased 9.5 per cent in the year to June to $405,000. It reached $434,000 in the last quarter – ahead of Melbourne ($420,000) and close behind Sydney ($525,000) and Perth ($446,500).

Nearly a third of Brisbane's suburbs, 43 of 151, now have a median price above half a million dollars. At the other end of the market, only five suburbs are now below $300,000.

On the Sunshine Coast, Minyama – with its riverside and canal frontage homes – saw the median price more than double from $454,250 to $956,000 within a year.

Steve Turner, from Ken Guy Real Estate agency, said he had sold $40 million worth of properties in the past 12 months. Most buyers were business owners upgrading from existing Sunshine Coast properties and many more families were moving in.

Other Sunshine Coast hotspots were Buddina, up 24.9 per cent to $585,000 and Alexandra Headland, up 24.5 per cent to $644,500.

At the Gold Coast, the median price of $420,000 was up 6.3 per cent. But demand for the most desirable beachfront suburbs pushed values up 19.8 per cent to $1.198 million at Mermaid Beach while Surfers Paradise rose 18.9 per cent to $1.44 million.

In Townsville, real estate agents said they had waiting lists of people wanting to get into the city's most prestigious addresses, such as Milton Hill and Castle Hill.

"Our problem is we don't have enough listings to meet the demand, especially at the upper end," said Janice Gallagher from North Ward Realty. "People realise big capital gains are being made and they are sitting on properties longer to make even more.

"For a house on Milton Hill, prices would start around $2 million and go up to about $5 million.

"For that, you get spectacular views of Cleveland Bay and Magnetic Island, probably a three-storey house, four or five bedrooms and study, a cinema and inground pool.

"We're selling properties without any view for $900,000."

Ms Gallagher said multimillion-dollar buyers included doctors and surgeons and self-employed tradespeople.

In Mackay, the median price for homes at Shoal Point on the northern beaches rose 20.9 per cent – double the average for the city – to $535,000. Glenella also broke the half-million-dollar mark.

"Queensland's lifestyle is one of the big factors that continues to draw people from all over the world," Mr McGrath said. "With the resources and infrastructure boom, companies have set up offices in Queensland and that's brought a lot of wealth.

"There are a huge number of firms and people who control those firms who are making very good incomes and profits on the stock exchange . . . It's mainly people supplying products or services to the mining industry of State Government and those associated with them: engineers, surveyors, architects, accountants, lawyers - and real estate agents."


Dave

 

[robots]

hello,

great article kathmandu,

in Melbourne we had clearance rate of 82% for saturday, down 2% from last weekend but still really good considering 100 more properties from last weekend and around 200 from same time last year

in my area (St Kilda) REIV reporting 29% increase for the year on houses and 9% on units, although some house and units have done a lot better

me to looking for the next round of property stagnation

thankyou

robots