I am seeing similar in Melbourne bayside area which is a better area. Houses that were 1.3 1.4 are starting to touch 1.0 now and units / apartments are at 500-600 which they were for 700-800 a year ago.Well, I inquired about this place just before christmas as it was listed without a price: https://www.realestate.com.au/property-house-qld-woodwark-140882696
And I was told that I had to beat an offer of 2.6 mostly cash and do so within ~48 hours as they were about to pull the trigger on acceptance and they've since sent me an unsolicited special email with a "price update", brochure etc, put the price on the ad, and dropped the price by 200k (assuming it was 2.6 previously and they weren't bullshitting me).
This one here by comparison has been up for sale at "offers over 1.9" for aaaaages: https://www.realestate.com.au/property-house-qld-woodwark-139739875
And is still listed the same but has "under offer" attached so I suspect someone's lowballed them by a good 100k+ as well.
Meanwhile there's a virgin block literally two blocks over from the first one for 620k: https://www.realestate.com.au/property-residential+land-qld-woodwark-203487820 and a waterfront one just in front of it for 800: https://www.realestate.com.au/property-residential+land-qld-woodwark-203464703
Even this villa further along that they do expensive asian new money weddings at is up for sale: https://www.realestate.com.au/property-acreage+semi-rural-qld-woodwark-141167480 and with an asian real estate agent that couldn't possibly have any potential overseas buyers in hong kong or whatever, nope.
So yeah, depends where you're looking. Inflation squeezes cost of living so when money gets tight then superior goods go on the chopping block first and this is no less true of holiday houses vs living in houses. Econ 101.
It's public record...Because you know the immigration numbers for the past few years?
Money gets tight = no money for holidays.I am seeing similar in Melbourne bayside area which is a better area. Houses that were 1.3 1.4 are starting to touch 1.0 now and units / apartments are at 500-600 which they were for 700-800 a year ago.
Perhaps this area has been oversold a bit, or the smart money is being deployed in Tas/Sa/Qld
Also renovations/materials are expensive so I think people do their maths before buying rather then yep 1.5m mate whats a lick of paint worth these days... throw a pineapple at it should be rightMoney gets tight = no money for holidays.
It's public record...
Yeah, because of covid. Then the floodgates opened again. In fact, the politicians even said we'd "missed out" on so many people when the borders were closed and now need even more to make up the difference.Yes I know, I always keep an eye on the numbers. There was a massive drop not long ago.
I am seeing similar in Melbourne bayside area which is a better area. Houses that were 1.3 1.4 are starting to touch 1.0 now and units / apartments are at 500-600 which they were for 700-800 a year ago.
Perhaps this area has been oversold a bit, or the smart money is being deployed in Tas/Sa/Qld
Yes it definately is... if you have the meansSounds like a good time to look at investment opportunities.
Yeah, because of covid. Then the floodgates opened again. In fact, the politicians even said we'd "missed out" on so many people when the borders were closed and now need even more to make up the difference.
Not necessarily, but even if so, is that supposed to be a problem?Without immigration, there would be no Australia as we know it. Without immigration the Australia we have become would shrivel up.
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Not necessarily, but even if so, is that supposed to be a problem?
Doesn't have to thoughNo, though the number of people permanently entering and leaving always fluctuates.
Doesn't have to though
kiss your ( consumer-driven ) economy goodbye ???
Why are you stating this?No, and people don't have to buy a new car but they do. Circumstances change, countries offer incentives and people see opportunity, some people go to one country, others to another.No one can predict the future but some can do the maths and have an educated guess.
I'm wondering where everyone is going to live?
International students enrolments considerably higher than pre pandemic levels and mass immigration.
I'm not sure we will see a much cheaper housing market, as what has been touted... probably more a consolidation moving into slightly rising again.
From where I'm sitting, we are going to see a population increase of at least 1.5% a year for the next 3 years, and that figure only includes immigration and international students. Hello...
Australia: 11% rise in new commencement predicted in 2023
Australia is set to see increased international enrolments in 2023, with expectations reckoning on overall growth of between 8% and 12%, according to marketing intelligence platform Studymove.thepienews.com
How many empty bedrooms in your house?
Why are you stating this?
We were talking about immigration's effect on housing affordability/prices. It's a very simple supply & demand equation.
Stating, not starting.Starting what? I’m just conversing with you, you say something to me and I respond.
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