The Australian property market

[tech/a]

Dave very similar in Adelaide.
Particular inner Adelaide.

Auctions bringing 50-100K above reserve.
I specialise in Southern Beach. Pricing here has risen 12% in the last year and Agents are reporting great clearence rates and high demand.
While not to the magnitude of Inner Adelaide I expect around a 30% increase in the next 2 yrs as we become more on par with Brisbane and Perth median pricing.

 

[robots]

hello,

cant see much changing when you have 70,000 people coming to Victoria only

no tent city has been erected yet

thats around 250 new residences a week, no way is that being built

thankyou

robots

 

[cutz]

Goodmorning all,

Does anybody know where to get accurate information regarding the state of play in the housing market around Melbourne, i.e vacancy rates, developments in the pipeline, price trends, expected housing requirements in the future ect. ect.

I’m doing a bit of preliminary research but all google brings up are figures which I suspect to be skewed one way published by real estate affiliates. ( i.e overly optimistic figures)

Basically what i'm getting at is whether the proliferation of multistory developments amongst heritage homes in the inner suburban area is justified, developments which should be confined to areas like the docklands or new released estates in former industrial areas.

Thanks in advance.

 

[kincella]

Cutz...interesting that you found this old thread .....last post 10.08.07
to direct the request to, rather than the very active thread on houses....
and funny to look back in hindsight at the doomsayers...in light of where we are at now...and they are still in the same mindset of nearly 2 years ago.

has it got anything to do with the proposed new high rise for Williamstown ??
and Ron Walker involved

the Vic govt's 2030 plan is the problem, although they recently released new land for development which goes against the 2030 plans...

theres been a stack of information in most news/media recently...but maybe its been more about QLD putting projects on hold...
try this link ...mainly related to ASX listed property companies
and Justin Madden may not be around too much longer
might be hard to get info thats not coming from those in the industry...

http://www.theaustralian.news.com.au/business/industrysectors/commercialproperty/

 

[robots]

Goodmorning all,

Does anybody know where to get accurate information regarding the state of play in the housing market around Melbourne, i.e vacancy rates, developments in the pipeline, price trends, expected housing requirements in the future ect. ect.

I’m doing a bit of preliminary research but all google brings up are figures which I suspect to be skewed one way published by real estate affiliates. ( i.e overly optimistic figures)

Basically what i'm getting at is whether the proliferation of multistory developments amongst heritage homes in the inner suburban area is justified, developments which should be confined to areas like the docklands or new released estates in former industrial areas.

Thanks in advance.

hello,

and if you want overly bearish figures go to GHPC, Keen, Grittens, Scott Pope any other anti-housing blogger

seriously, if you want to find out about developments you will need to walk the street and take notice of permit applications or get an "in" in the marketing/design companies that are compiling the brochures/advertising prior to launches

title searches, gossip press on RE (business, Age saturday)

for instance:

http://www.voguesouthyarra.com.au/

this development commenced prior to having permit, yet all advertising, signage etc completed well before

thankyou
associate professor robots

 

[kincella]

your right Robots...remember a month or so ago I saw 9 massive big developments going on in Glenferrie Rd, between Toorak Rd and Malvern Rd....well I have lost count of all the others I have seen since....
I guess considering they are taking over a year to get approvals from councils, its turned out perfectly for some...with the lower interest rates...

I looked at the development at the back of Chapel St last year, to buy off the plan, at the time they only had a few unsold at the higher end of the range....way above the 600k mark....just the same as years earlier I looked at the high profile building on the corner of Chapel and Malvern Rd....off the plan they were 310.000 and very smart....for a one bedder....
I was looking for an IP not for my own housing....

 

[cutz]

Cutz...interesting that you found this old thread .....last post 10.08.07
to direct the request to, rather than the very active thread on houses....
and funny to look back in hindsight at the doomsayers...in light of where we are at now...and they are still in the same mindset of nearly 2 years ago.

Thanks for the info guys,

I thought I’d tack on to this thread rather than start a new one, the active threads seem to be talking about the direction of property, I was just after general info.

The one near my area seems to have gone straight to VCAT due to the local council unable to make a decision,( I suspect the council wants it to go ahead due to extra revenue) I’m not able to find out anything about the developer, numerous searches reveal nothing.

Another thing I’ve just discovered is the developers have agreed to some sort of option with the existing owners which prevent them from selling up for a certain period of time, strange stuff indeed.

Anyway this matter had aroused quite a bit of suspicion, a reno I did several years ago was quite a process getting through the local council, I actually copped a hard time but on the other hand developers seem to get away with whatever they like, it really annoys me and the fact that I can’t get reliable research like you can with financial products really gets under my skin.

Bit like a fish out of water i am when it comes to property.

 

[Trevor_S]

any other anti-housing blogger

I don't think anyone is anti housing. Well, I have yet to come across anyone who is. I do see lot of people that see property, and residential property in Australia in particular as overpriced. So overpriced it's a burden on future generations to pay for it, so overpriced compared to the fundamentals, so overpriced that it consumes vast amounts of capital exchanging properties that are already built, leading to much less capital available for productive growth of the economy. I see lots of people that would like to see the housing price bubble popped (or deflate) (and any look at long term growth trends should show a bubble has formed, it has to deflate or pop but who the hell knows when ?) for lots of the above reasons, and a return to housing to be viewed as a domicile but I don't see anyone that is against "housing" per se ?

On the other hand, property spruikers do seem to have the ear of Government

 

[robots]

hello,

ah yes, but past performance is no indication of future performance

it may not go up 5000% but it may not revert to the average either(birth rite supposedly)

who knows, i dont

thankyou
associate professor robots

 

[cutz]

G’Day all you property gurus,

I have another question,

Anyone know were I can get hold of accurate unbiased inner city apartment ownership statistics, in particular the ratio of owner occupier verses investor living elsewhere.

I’ve trawled through the ABS site, heaps of great info but couldn’t get the above info.

Once again, thanks in advance.

 

[Stan 101]

Try BIS Shrapnel. You'll probably need to pay for it, though.

 

[cutz]

Try BIS Shrapnel. You'll probably need to pay for it, though.

Thanks Stan,

Yeah i found a report at BIS, it's just a tad expensive, about 10K.

I'll keep searching, see what else i can find.

 

[kincella]

just keep googling for it...
ages ago I had a link....but lost now...South yarra was about 70% investors...explains all the units down there....and I would believe a similar or higher number may be assumed for the city....although Docklands may have more owner occupiers...it appears more family friendly than the city itself
or I could be very wrong...
heres some bits...
By Bob Wilson, 26th October 2007 The trend might not yet be too obvious in official statistics of new dwelling types, but some of Australia's hottest residential markets are seeing a subtle shift in preference for apartments over houses.

Sydney's trend is clear cut - the ratio now between freestanding houses and attached homes is almost 1:1.

Brisbane's apartment market has also demonstrated a shift towards owner -occupiers in the past four years. Apartments and townhouses claimed almost 30% of the Queensland housing market in 2006-2007 and the trend is more marked in Brisbane, where buyers are bypassing the rental phase and investing in the apartment/townhouse market.

In 2003, owner-occupiers represented only 25% of the inner-city apartment market in suburbs like Fortitude Valley, the CBD, Newstead and West End. In the past financial year this proportion has jumped to more than 50%, which has caused a shortage of rental properties and ramped up prices.

Tight rental vacancy rates (1.3%) and a soaring median house price are the main factors driving the renewed interest in apartments.

http://www.hotspotting.com.au/index.php?act=viewArticle&productId=167

 

[cutz]

Thanks kincella,

I appreciate the info you've dug up.