Housing affordability

[bellenuit]

There's obviously a catch, otherwise the Chinese would have bought them all years ago.

Maintenance costs and possibly land tax and rates?

 

[SirRumpole]

Maintenance costs and possibly land tax and rates?

If they are like the English ones, they would be getting crumbly.

 

[basilio]

If they are like the English ones, they would be getting crumbly.

Indeed.. But what a character building opportunity to restore them..

 

[mullokintyre]

No comment needed.
Mick

 

[PZ99]

Nice pullback over the last two years...

 

[sptrawler]

It will be interesting to watch how this turns out, a new housing estate has uncovered aboriginal graves, what happens will probably set a precedent for handling similar situations and could add time and money to new developments. Life wasn't meant to be easy and it is certainly getting more complicated.

It looks like an oasis, but the Riverlea development has been harbouring a secret

On the one hand, is a $3 billion development to accommodate thousands of families. On the other, is a burial site that is of immeasurable cultural significance. The problem? They are both on the same ground.

www.abc.net.au

 

[mullokintyre]

The latest ABS data .
Despite bit of a collapse due to interest rates increases , the value of loans is marching up again.
Housing is seen as a very desirable investment vehicle.
While the owner occupier total value has not yet reached its previous records, Investment loans have hit a new high.
Mick

 

[mullokintyre]

A deeper look into the data on Housing.
As some of the WA members have noted anecdotally, the big mover is WA.
The bigger states have not passed their previous Covid lows, but WA has nearly doubled, and both Queensland and South Australia have just passed the previous highs.
Victoria looks in trouble, it has been passed by Queensland to be pushed into third place in value.
Obviously people do not see the value in investing in Victoria.
Mick
Vic

toria

 

[Knobby22]

A deeper look into the data on Housing.
As some of the WA members have noted anecdotally, the big mover is WA.
The bigger states have not passed their previous Covid lows, but WA has nearly doubled, and both Queensland and South Australia have just passed the previous highs.
Victoria looks in trouble, it has been passed by Queensland to be pushed into third place in value.
Obviously people do not see the value in investing in Victoria.
Mick
VicView attachment 183812toria

I have a colleague looking to buy his first house (Melbourne) and he said that over the last two weeks a lot of houses have come into the market. The lower prices are really helping the first home buyers. I heard house prices are dearer in Qld now than in Vic?? I am pretty sure that is a first.

This article is interesting. All the high density development in Melbourne is keeping down prices.
I think it is also that investors are avoiding Melbourne for NSW and QLD because of the land tax. Explains SA very well.

https://www.realestatebusiness.com....ne-of-australias-cheapest-capitals-here-s-why

 

[Smurf1976]

I think it is also that investors are avoiding Melbourne for NSW and QLD because of the land tax. Explains SA very well.

There’s also a lot of rules placed on landlords in Vic that are unique to the state so far as I’m aware.

Plus I suspect some probably have some concerns about the future of the Vic economy more generally.

 

[Knobby22]

There’s also a lot of rules placed on landlords in Vic that are unique to the state so far as I’m aware.

Plus I suspect some probably have some concerns about the future of the Vic economy more generally.

If Melbourne becomes the first home buyers state then it will be a real positive in the long term. More families and a more dynamic future than say Sydney, which Melbourne is still outgrowing strongly, despite government incompetence.

Let the property moguls invest in Sydney till there is no hope for the unconnected without family wealth.

 

[mullokintyre]

BE tough buying your first house in this market.
mick

 

[macca]

BE tough buying your first house in this market.
mick
View attachment 184128

I notice they have mentioned the CGT discount, perhaps blaming that for the pricing pressure.

I do believe if they charted population growth it would tell a very interesting story

 

[mullokintyre]

Mick

 

[mullokintyre]

From ABC News
Proof positve that if you make life difficult for landlords, they leave.

memo to all those who think that by making things easier/cheaper for people who rent does not solver the rental crisis.
Taking even more of the rentals off the market is not going to help, no matter who puts the statements out.
Obviously the figures suggest that people are buying these houses to live in rather than rent out.
This is good for those who can buy, not so good for those seeking rental.
mick

 

[macca]

From ABC News
Proof positve that if you make life difficult for landlords, they leave.
View attachment 185795

memo to all those who think that by making things easier/cheaper for people who rent does not solver the rental crisis.
Taking even more of the rentals off the market is not going to help, no matter who puts the statements out.
Obviously the figures suggest that people are buying these houses to live in rather than rent out.
This is good for those who can buy, not so good for those seeking rental.
mick

The problem is simply that there are too many people looking for accommodation for the number of houses in total.

Stop bringing in More F 'ing people and it will sort itself out but at present it is a bubble created by incompetence and stupidity

 

[sptrawler]

View attachment 185540
Mick

Who wuda thought the price to build would sky rocket, when the Government say that are going to throw money at it ?

Maybe the Govt should consider taking social housing programmes in house again and then introduce a rent to buy plan, where the tenant has some skin in the game? Look after it and pay your rent eventually it's yours.

 

[mullokintyre]

Overheads always a killer.
Housing having to support Banks via mortgage interest rates, local Government in the form of rates , State Governments in the form of stamp duty on sales, and of course the huge number of real estate agents that need to be kept.
Mick

 

[Knobby22]

Overheads always a killer.
Housing having to support Banks via mortgage interest rates, local Government in the form of rates , State Governments in the form of stamp duty on sales, and of course the huge number of real estate agents that need to be kept.
Mick

View attachment 186151

More investors so they need agents to look after rentals?

 

[mullokintyre]

The RBA issued a research paper on housing and the rentl crisis.
In what will come as no great surprise to many, it concludes that excessive popu;ation growth is behind it.
from Macro business