The future of Australian property prices

explod · 22 June 2010

UBIQUITOUS said:
Toorak is soulless and doesn't even look nice. Any of the suburbs next door are head and shoulders above Toorak when it comes to vibrancy and looks - especially Malvern and Hawthorn.

Dunno, give me a couple blocks in Lansell Road anytime.

But Armadale is well worth considering.

robots · 22 June 2010

hello,

check this guy out brothers:

http://www.unconventionaleconomist.com/2010/05/debunking-australian-housing-shortage.html

got a whole section on vacant homes! like lets lay claim to someone else's property and in most cases hard work

someone might enjoy just driving past their PROPERTY each day enjoying the particular style of architecture or the garden

putting the key in the door anytime they please, sleeping there one night a year, letting others use it now and again, hands off freeloaders

thankyou
professor robots

satanoperca · 22 June 2010

Robots,

What the above linked article states may be correct but the reality is property prices have increased.....due to myth, legend, fundamentals, lies truths.

Why they have increased to me is of far greater significance and it isn't because there is a shortage. Expansion of debt, maybe on 17% increase in mortgage debt in the last year. Then the question needs to be asked, how much debt can be absorbed by the market for it to max. out, no more growth?

Cheers

PS there will always be people who take without consideration

robots · 22 June 2010

hello,

they havent gone up by astronomical rates though, its just around 8-9% per annum, nothing

replacement cost maybe, the opportunities still exist for everybody out in society, just carry on,

15 minutes of fame for the likes of GMO Fund, right at the time when he lands in Australia looking for new takers to send him $

yeah all interesting stuff, storm in a tea cup

thankyou
professor robots

kincella · 23 June 2010

as far as conspiracy theories encompassing the whole property market.....
if you really did your research, why is the current govnuts, paying $$$$ of dollars per week, housing the new arrivals, in 4 and 5 star motels, hotels....at taxpayers expense.....if there really were hundreds of thousands of vacant houses available to the govnuts, to house them......

or is every RE agent a liar, dishonest etc.....and not one out there honest enough for you to deal with, to get that house.....
even your other hero Jenman, makes money, earns his income, from signing up RE agents to his sytem.....earning money, his income from the sale of houses.......
I love it, when these unknown stock market crappers, need recognition for their australian tour....instant PR success is easily provided....just mention the housing boom myth...and voila....

comment from another site............which may help some of you, although I doubt it....
"Some food for thought,

I saw on the news the other night some land for sale in Bentleigh East which is about 20km sth east of melbourne, it was an old factory site knocked down and there was 100+ blocks auctioned off in a local scout hall.

All were snapped up and the que was out the door, $800-900k for small housing blocks.

They panned the camera's around the room and i couldn't help notice that not one person in the crowd was anglo saxon or first generation Aussies, going by looks anyway.

Most were Asian and many looked to be Indian/Sri lankan descent. Your typical migrant countries accepted into Australia."

http://www.hotcopper.com.au/post_single.asp?fid=273&tid=1196158&msgid=6717462

UBIQUITOUS · 23 June 2010

kincella said:
comment from another site............which may help some of you, although I doubt it....
"Some food for thought,

http://www.hotcopper.com.au/post_single.asp?fid=273&tid=1196158&msgid=6717462

You've helped me out Kincy...with some bellyaching laughter!!
Haha..a random post on Hotcopper as your source? You come out with some classic 'research' but this really takes the cake Kincy. Keep it up

kincella · 23 June 2010

not research....just another board with similar type mania comments about wishing a 40% drop....
however sometimes there are snippets of infor, that you wont find in lame stream media, about facts out on main street....
bit like Dandenong is called Asia...and Broady is now the new Pakistan...

UBIQUITOUS · 23 June 2010

kincella said:
not research....just another board with similar type mania comments about wishing a 40% drop....
however sometimes there are snippets of infor, that you wont find in lame stream media, about facts out on main street....
bit like Dandenong is called Asia...and Broady is now the new Pakistan...

snippets of INFO? You're hilarious mate. Any chance of something relevant for a change?

Finding titbits of anecdotal gossip from another forum and extrapolating it to support your view on the entire Australian property market is ridiculous. :screwy:

Keep them coming Kincy:jump:

robots · 23 June 2010

hello,

great posts Kincella,

more real life than the tidbits that come from the likes of S.Keen, Grantham GMO, unconventional economist (not much unconventional actually, typical cliche commentary)

great day

thankyou
professor robots

nunthewiser · 23 June 2010

robots said:
hello,

great posts Kincella,

more real life than the tidbits
thankyou
professor robots

I,m currently in Carnarvon WA.......... you dont wanna hear any of the "real life tidbits" from here. no sunshine and lollipops on the housing front ( goverment or private ).

A lot of waste of resources and lack of communication between those that have influence on these matters.

Nice place tho and could be the star of the gasgoyne, investment wise if one could change the world.

Plenny fish

medicowallet · 24 June 2010

http://www.theage.com.au/business/big-rise-in-the-number-of-australias-megarich-20100623-yz7w.html

"AUSTRALIA'S mega-rich are shunning the real estate market for equities, believing property prices are too high and no longer have much bang for buck, a study shows"

Is the smart money leaving the bubble?

robots · 24 June 2010

medicowallet said:
http://www.theage.com.au/business/big-rise-in-the-number-of-australias-megarich-20100623-yz7w.html

"AUSTRALIA'S mega-rich are shunning the real estate market for equities, believing property prices are too high and no longer have much bang for buck, a study shows"

Is the smart money leaving the bubble?

hello,

good arvo Kincella, hows this news article above hey man?

more spruiking from a fund manager, looks as though they overtaking real estate agents and the REIV

and with MacBank talking about "trading conditions" today they all giving it a good go, get $ from people, no responsibility for up or down movements in capital (actually no guarantee you get any money back!)

oh yeah they all picked it though

thankyou
professor robots

kincella · 24 June 2010

Hi Robots....
heady days...or it was today with the PM coup....I got a bit sidetracked there...
I saw the article, but did not bother to read it....I just guessed it was coming from the gamblers....they are like 'ad-editorials' where its really an advertisement, made to look like news.....
am finding it harder to access the truth these days, so much spruiking from the media,,,,
best to just follow some of the individuals, or at least the industry groups, or failing that, just keep watch on main street and sum it up yourself...
most of us property people buy and hold anyway, so we dont need a daily update of the market movements, nor the predictions from all and sundry...
most economists and analyists get it wrong constantly...so why bother with them...
I note the local builders here have new homes starting around 350k's, which is higher than the city....interesting....
wonder how the new pm will say thank you to her building union mates....either embark on massive public housing or encourage fhb;s, to keep her mates in work,,,,got nothing to do with any of the housing issues...should be good for the kids...not sure how long she will last though
cheers

MR. · 26 June 2010

satanoperca said:
Expansion of debt, maybe on 17% increase in mortgage debt in the last year. Then the question needs to be asked, how much debt can be absorbed by the market for it to max. out, no more growth?

Updated the chart.

View attachment Investment loans as a % of Total Housing Loans $ pdf.pdf

Are housing investment loans as a percentage of total housing loans in Australia the highest ever?

Investment loans for housing are still increasing at an alarming rate. The rise in "Total Housing Loans" on the above chart in April was purely from the increase in "Investment Loans" for housing. In fact finance for owner occupied housing still decreased.

lioness · 26 June 2010

Robots,

Any link yet? I am sweating on a few results and look forward to your usual prompt link for results.

Enjoy the cranskies.

robots · 26 June 2010

hello,

no worries man, about 7-7.30pm they will come in

takes a bit of time for the real estate agents to collate the days action, get it on a piece of paper and bang in the facsimile,

great day, plenty at the sth melbourne market, picked up a 300g bag of mixed bullets for $3 and two slices of pizza for $5

thankyou
professor robots

Aussiejeff · 26 June 2010

robots said:
hello,

no worries man, about 7-7.30pm they will come in

takes a bit of time for the real estate agents to collate the days action, get it on a piece of paper and bang in the facsimile,

great day, plenty at the sth melbourne market, picked up a 300g bag of mixed bullets for $3 and two slices of pizza for $5

thankyou
professor robots

Full metal jackets for your urban Uzi?

robots · 26 June 2010

hello,

yes because i fear for my life if I run into this again:

http://sa.org.au/melbourne/details/223

concerned, as last time a member of the Socialist crew put me in the submission hold and slammed me into the pavement

they cant have normal discussion and debate, bullies

thankyou
professor robots

robots · 26 June 2010

hello,

OH YEAH:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=1226&nav2=162

here they are, 65% which is a fantastic result, great prices

the rba will be pleased,

thankyou
professor robots

UBIQUITOUS · 26 June 2010

robots said:
hello,

OH YEAH:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=1226&nav2=162

here they are, 65% which is a fantastic result, great prices

the rba will be pleased,

thankyou
professor robots

Awful result, even with fudged numbers. At this rate, we'll be down to 50% by the end of next month (with the true clearance rate being MUCH lower)

Anyways Robots, it looks like even your mentor sees the writing on the wall;

Open letter on stamp duty and first home buyers from REIV CEO

23-Jun-2010

Victoria has one of the strongest economies in the nation and we should take advantage of that by helping first home buyers in the same way as four other states: give first home buyers a 100 per cent discount on stamp duty for an average home.

There is a direct link between the assistance offered to first home buyers and their ability to get a start in the market. Since the stimulus was withdrawn, first home buyers in Victoria have dropped from 30 per cent of the market to around 18 per cent.

Abolishing stamp duty for first home buyers does not need to cost as much as has been suggested. The intergovernmental agreement that established the $7,000 grant allows stamp duty to be offset with the grant.

Given the importance of promoting home ownership and improving affordability for first home buyers, this debate should not be left to the state election; the Treasurer should disclose how much it will cost so Victorians can compare the costs, benefits and options.

Yours sincerely

Enzo Raimondo
CEO REIV
http://reiv.com.au/news/details.asp?NewsID=953

The future of Australian property prices

explod

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