The future of Australian property prices

[satanoperca]

The title of above linked article :

McMansions out of favour after grant slashed

So FHB are looking at buying less expensive property because they are smart?

The title says it all, grant slashed and interest rates increasing, result: lending capacity reduced so have to look for cheaper properties.

Pretty much a no brainer.

Also, I think you will find that the average FHB mortgage increased this year which was the direct result of the increase of the FHBG.

When are govnuts going to govern and stop wasting tax payers money propping up industries. Better schools, health care, public infrastructure is what is required not artificially inflated home prices.

Beautiful day in Melbourne today. Everyone enjoy.

 

[Gerkin]

I would just like to thank the Federal Labor & Victorian Labor Government for paying m $32K for me to build a property.

 

[wayneL]

I would just like to thank the Federal Labor & Victorian Labor Government for paying m $32K for me to build a property.

You are thanking the wrong people.

Thank the taxpayer, it is they who have paid you.

 

[joeyr46]

I would just like to thank the Federal Labor & Victorian Labor Government for paying m $32K for me to build a property.

Your thanking the wrong people it's not their money, it's the taxpayers money and I certainly have never given them the right to waste it (not that your to blame) And at some point we will want it back so be prepared to pay it back in one way or another

 

[wayneL]

Your thanking the wrong people it's not their money, it's the taxpayers money and I certainly have never given them the right to waste it (not that your to blame) And at some point we will want it back so be prepared to pay it back in one way or another

SNAP!

 

[noirua]

Australia needs new cities instead of expanding the present ones. At some stage a city needs to be built inland with all the necessary desalination plants. More money should be spent on upgrading South Australia and the towns served by the Ghan.

 

[Nyden]

Australia needs new cities instead of expanding the present ones. At some stage a city needs to be built inland with all the necessary desalination plants. More money should be spent on upgrading South Australia and the towns served by the Ghan.

How far inland though? Nobody really wants to live in the desert. And, I simply can't envision any city being built out there. Las Vegas, you say? Well, it's my understanding that irrigation allowed that city to prosper, but we have such a shortage of water in Australia ... surely what little we have couldn't be pumped out there?

 

[cutz]

I would just like to thank the Federal Labor & Victorian Labor Government for paying m $32K for me to build a property.

Actually it was a disservice,

That 32K was capitilized into a higher property price so it's the banks that will be thanking you, in particular the big four.

 

[Gerkin]

Actually it was a disservice,

That 32K was capitilized into a higher property price so it's the banks that will be thanking you, in particular the big four.

Your wrong.

I already had the land.

I just ad to find a builder. And after pricing for 2 years, i can tell you prices actually came down due to competition.

 

[Gerkin]

Your thanking the wrong people it's not their money, it's the taxpayers money and I certainly have never given them the right to waste it (not that your to blame) And at some point we will want it back so be prepared to pay it back in one way or another

Okay. I will thank you. Please pass on my thanks to your extended family for allowing me 32K to fund my home.

What a great country we live in, not even means tested

We are all going to love paying this back via taxes, me, you, your next door neighbour.

 

[Gerkin]

Also, on another note, all my tradie mates are hapy as pigs in sh*t.. They are on track for a 150K year.

 

[prawn_86]

What was the payment/subsidy you got? Do you have a link for it?

 

[Gerkin]

Prawn.
21K from Federal Government as FHOG & Boost due to Recession for building contract up until 30 Sept.
11K from Victorian State Govt for building a new house.

Sorry no links, try respective SRO,

interrsting enough if you built in rural Vic, your grant was 36K

 

[jancha]

How far inland though? Nobody really wants to live in the desert. And, I simply can't envision any city being built out there. Las Vegas, you say? Well, it's my understanding that irrigation allowed that city to prosper, but we have such a shortage of water in Australia ... surely what little we have couldn't be pumped out there?

There certainly isn't shortage of water at the top end.
Was thinking about buying a property up in Darwin as i'm currently renting atm & if anyone who has lived or stayed here would know it is one of the most expensive cities to live in. Rent & house prices go hand in hand.
An average unit is around 500k - 600k ( 2-3 bedrooms ) with a rental return of between $650 - $750 per week.
Anyway i was reading an article in the paper that the local Governments aim is to make Darwin the most affordable city within a decade.
Part of that criteria would be making housing more affordable true?
My question is so why would you want to buy an apartment or unit at the current prices when the government is taking steps in making them more affordable.
It's a bit like buying a share at it's peak. Any thoughts.
By the way wasn't one of the governments sweeteners for the introduction of the GST to scrap stamp duty? 4.5%

 

[noirua]

How far inland though? Nobody really wants to live in the desert. And, I simply can't envision any city being built out there. Las Vegas, you say? Well, it's my understanding that irrigation allowed that city to prosper, but we have such a shortage of water in Australia ... surely what little we have couldn't be pumped out there?

Not correct though. There is a lot of water in South Australia's sub-bitumous coal, about 16%. Several desalination plants would be needed. Though there is Lake Phillipson that indicates just how much water is available in the outback.
Unfortunately it is a longway from Canberra and SA is seen more for future diesel from coal plants.

At the moment there is the new railway, listed as one of the wonders of the world in 2004. It needs to be taken more seriously by Rudd and co who appear, at times, to think Australia has only three States.

 

[joeyr46]

Prawn.
21K from Federal Government as FHOG & Boost due to Recession for building contract up until 30 Sept.
11K from Victorian State Govt for building a new house.

Sorry no links, try respective SRO,

interrsting enough if you built in rural Vic, your grant was 36K

Well so glad we only had to fork up 21 and the victorians shouted the rest

 

[Nyden]

Not correct though. There is a lot of water in South Australia's sub-bitumous coal, about 16%. Several desalination plants would be needed. Though there is Lake Phillipson that indicates just how much water is available in the outback.
Unfortunately it is a longway from Canberra and SA is seen more for future diesel from coal plants.

At the moment there is the new railway, listed as one of the wonders of the world in 2004. It needs to be taken more seriously by Rudd and co who appear, at times, to think Australia has only three States.

That would make for some very expensive water, though - wouldn't it? I could be wrong, but at least from my perspective - you couldn't pay me enough to live out there. Depending on where the city was, just imagine the heat. Certainly not for me, and perhaps certainly not for any sort of real non-mining business?

Most folk want to be near the coast, perhaps an unrealistic expectation? You bet - but that doesn't mean it's going to change any time soon.

 

[prawn_86]

Most folk want to be near the coast, perhaps an unrealistic expectation? You bet - but that doesn't mean it's going to change any time soon.

I think you mean most city folk. I know thousands of people who are happy living inland near a river/lake/other body of water.

 

[Gerkin]

Well so glad we only had to fork up 21 and the victorians shouted the rest

Well thats partly true, the state gov revenue is made up of a mixture of things inclding state land taxes, stamp duties and GST revenues it recieves from the Federal Government.
So you did infact help me out.

 

[joeyr46]

Well thats partly true, the state gov revenue is made up of a mixture of things inclding state land taxes, stamp duties and GST revenues it recieves from the Federal Government.
So you did infact help me out.

I knew that, just glad we could help
As someone else said I also thought Stamp duty supposed to be scrapped after GST can you recall if that was correct or not