The future of Australian property prices

[Dowdy]

http://au.news.yahoo.com/thewest/a/-/mp/8222496/perth-house-prices-drop-another-1pc/

Sunshine and lollipops

or whisky and denial for some instead ?

geez that nun fella sure picked that top a bewty!

Wait a minute!!!

Does that mean RPData is now a CFD manager since he's bad mouthing property!

 

[Beej]

Oh so are you referring to this post?



I particularly like the bit about no holiday etc.

ROSE
COLOURED
GLASSES

So what? Have a few holidays then and take an extra year to pay off the loan? It's all about choices - but those that make more sacrifices early will be the winners financially down the track, and it has always been so.

Cheers,

Beej

 

[medicowallet]

So what? Have a few holidays then and take an extra year to pay off the loan? It's all about choices - but those that make more sacrifices early will be the winners financially down the track, and it has always been so.

Cheers,

Beej

The difference is that in my generation, it was a choice, and now it is necessary.

I don't really care, I own property.

It is just that, unfortunately unlike others of my generation, I am not greedy, and would like to see government implement SUSTAINABLE policies which improve affordability and lifestyle for current and future younger generations.

By that I do not mean narrow sighted strategies such as first home buyers grants etc.

How about

1. Release truck loads of land
2. Cheap to developers
3. Cheap access to council infrastructure ( eg sewerage )
4. Very limited time for the developers to offload said parcels.
5. Removal of FHBG.
6. Removal of stamp duty concessions.
7. Import 5000-10000 builders on work permits from america on good pay (while our dollar is so strong)

and build some bloody houses, instead of being held to ransom by labourers, electricians etc.

But then again, this would make my generation feel "hard done by" as house prices moderate to values we had access to.

Selfish older generations, yes I am ashamed of us.

 

[againsthegrain]

This is right about time that cyborg would usually say gidday coming to you from the sunny race track sipping a late, beautiful day at the races even better day to buy property

 

[nunthewiser]

This is right about time that cyborg would usually say gidday coming to you from the sunny race track sipping a late, beautiful day at the races even better day to buy property

your obsession with doctor bots is bordering on unhealthy

please seek medication or professional help

thankyou.

 

[medicowallet]

your obsession with doctor bots is bordering on unhealthy

it is PROFESSOR bots.

Please don't insult him by referring to him as a mere doctor.

He deserves the title, as one cannot fault him. He was only one of 2-3 people who correctly predicted exactly what would happen over the GFC.

 

[medicowallet]

Clearance rate: 67%

Don't know what this means, but just posting it, as the usual poster is unusually quiet about it atm.

Next 3 weeks have 2600 auctions.

Anyone have any predictions of the clearance rates?

I do not profess to have any knowledge of such things, just posting the facts.

Top end of the market looks quite flat, I wonder if the value is falling, or if the market is stagnant.


This weekend last year saw 338 auctions reported and a clearance rate of 83 per cent.



Just keeping it real for the good folks of ASF

Sunshine and fluffy rainbows and lollipops and sprinkles and bubbles

 

[robots]

hello,

thanks for posting up that data Medicowallet, fantastic

watch out though, here at AussieSF you will get called a slumlord, specuvestor, money renter, permabull and all other sorts of words for posting up that data

RBA will enjoy seeing those figures

what a great weekend so far, heaps of rain, the plants which are coming alive around our neighbourhood is amazing, all creatures are going to really enjoy it

thankyou
professor robots

 

[explod]

He was only one of 2-3 people who correctly predicted exactly what would happen over the GFC.

Yeh, great stuff, was it the good confessor who informed you of that.

It's good to keep up with all the sources, makes for sound investments.

 

[electronicmaster]

Clearance rate: 67%

Don't know what this means, but just posting it, as the usual poster is unusually quiet about it atm.

Next 3 weeks have 2600 auctions.

Anyone have any predictions of the clearance rates?

I do not profess to have any knowledge of such things, just posting the facts.

Top end of the market looks quite flat, I wonder if the value is falling, or if the market is stagnant.


This weekend last year saw 338 auctions reported and a clearance rate of 83 per cent.



Just keeping it real for the good folks of ASF

Sunshine and fluffy rainbows and lollipops and sprinkles and bubbles

What I'd like to know is who is Selling, Who is Buying and who is lending the Money?

I'm very suspect on the clearance rate numbers. They seem too consistent.

Investors? Or Home buyers?

The numbers are not making any sense for normal Home Buyers considering the high interest rates with Australian Banks.

Or is the money coming from overseas?

EDIT: Could it be possible the BANKS (Australian or overseas) are buying it all up?

 

[Quincy]

electronicmaster - Today, 08:35 AM #3190

Or is the money coming from overseas?

In my region - north western Sydney - the Chinese are continuing to buy up anything that they can get their hands on.

A Chinese friend of mine tells me that many don't need to borrow and just pay cash (including + $ Million properties).

 

[medicowallet]

In my region - north western Sydney - the Chinese are continuing to buy up anything that they can get their hands on.

A Chinese friend of mine tells me that many don't need to borrow and just pay cash (including + $ Million properties).

A policy disaster which will not become apparent to the general public (read dimwits) for another 20-30 years. Another in the long list of stuff ups of the Rudd Government, which will be his legacy, as one of the most useless PMs Australia has ever seen.

 

[Mofra]

How about

1. Release truck loads of land
2. Cheap to developers
3. Cheap access to council infrastructure ( eg sewerage )
4. Very limited time for the developers to offload said parcels.
5. Removal of FHBG.
6. Removal of stamp duty concessions.
7. Import 5000-10000 builders on work permits from america on good pay (while our dollar is so strong)

"Truckload of land" will be a disaster for capital cities - Melbourne is one of the largest cities in the world by geographic area, and all for a population of 4 million. Infrastructure costs rise exponentially in outer suburbs with low population density.

Increasing employment opporunities in rural areas which still have affordable housing would be a much better policy - house prices would be a secondary conern in this agenda as well. As the baby boomers retire and move to less populated areas this should ease demand as well.

 

[electronicmaster]

A policy disaster which will not become apparent to the general public (read dimwits) for another 20-30 years. Another in the long list of stuff ups of the Rudd Government, which will be his legacy, as one of the most useless PMs Australia has ever seen.

Then it appears we are in really big trouble, sooner than I was expecting.

The USA is going to be in that stage soon (or more so) too. This should become apparent after they have the next big Bailout.

You all seen the mortgage fraud going on over there. I wonder if it is true for Australia as well. Well, in relation to the Chinese anyway.

Funny how no one seems to confront the issue (not even the media).

very strange (But not surprised)

 

[medicowallet]

"Truckload of land" will be a disaster for capital cities - Melbourne is one of the largest cities in the world by geographic area, and all for a population of 4 million. Infrastructure costs rise exponentially in outer suburbs with low population density.

Increasing employment opporunities in rural areas which still have affordable housing would be a much better policy - house prices would be a secondary conern in this agenda as well. As the baby boomers retire and move to less populated areas this should ease demand as well.

ok an edit

0.5 = Competent town planning (but this will probably never happen!)

Plus I agree totally with the rural area opportunities so

1. Govt departments move from cities (well we are wasting $43 billion on faster pr0n.. oh I mean internet capabilities) to rural areas

2. Lower taxation for businesses to relocate a certain proportion of their business to regional/rural areas.

Problem is that these kinds of policies would cost votes, so even though they would be AWESOME, they will never, ever happen.

 

[explod]

Then it appears we are in really big trouble, sooner than I was expecting.

The USA is going to be in that stage soon (or more so) too. This should become apparent after they have the next big Bailout.

You all seen the mortgage fraud going on over there. I wonder if it is true for Australia as well. Well, in relation to the Chinese anyway.

Funny how no one seems to confront the issue (not even the media).

very strange (But not surprised)

You will be aware that a number on ASF are aware.

Yes, the USA is broke to say the least. Our story has in the last couple of years been China. China are now having their own difficulties and a number of these are USA related, the moneys owed and the falling value of the US$.

Although there has been some asserted restraint since the GFC there are a large number of home mortgages since 2002 to 2008 that have been low doc with and without FHBG's.

The financial industry as a whole encompases the whole gambit of investing and they as a group cromprise the banks, real estate industry and financial services ie. AMP, Stockbrokers etc, and the media which rises or falls on advertising to us sheeple. So there will be little real truth coming from this quarter.

The very big and complexing question that no-one is game to ponder, publicly yet that is, is our system of adding fuel to the fire by what we have come to know as quantitative easing. In a sense Krudd did it with the insulation thingo and the GFC around the planet was said to be cured by it. The only problem, and why eyebrows are lifting now, is that it does not seem to be cured. So the US is about to do some more of it, the last time to the tune of some 350 billion this time they say from 2 to 4 trillion of it. So we can see we must be fast approaching the brick wall here. But getting back to the press (which is the lot intoto described above), they suddenly see the keynesian system is breaking down (as Marx and more recently Von Misers) said it would. The debts are finally so big over the planet that we can no longer continue to expand enough to pay it all back.

If anyone thinks that we are going to be immune in the good old Aus., then I say (as in "The Castle" Cations said) "ya gotta be dreamin"

My reading of the current situation says that property prices are at best moving sideways towards a very big hole in the ground.

Time will tell.

 

[electronicmaster]

If anyone thinks that we are going to be immune in the good old Aus., then I say (as in "The Castle" Cations said) "ya gotta be dreamin"

My reading of the current situation says that property prices are at best moving sideways towards a very big hole in the ground.

Time will tell.

I just got a email talking about the new National Consumer Credit Protection Act rules.

Hi Everyone,



For some of you this email is very , very important.



I have been talking for some time about the possible upcoming changes to property finance due to the new responsible lending obligations under the National Consumer Credit Protection Act coming into effect on Jan 1st 2011.



These new regulations will result in all lenders reviewing all the loan products they offer but until now we had not seen any major changes.



One of the biggest banks in Australia late Friday afternoon(as they often do) made two huge announcements !!



1. All low doc loans for self employed clients will now require 12 months statements(previously not needed)

2. Servicing guarantors(another party) will no longer be accepted where the applicant cannot service the loan themselves



These policy changes will come into effect in one week and I expect other lenders to follow suit shortly.



If you are one of our low doc self employed clients and you have been considering accessing equity from your property then the time to do it is now as the opportunity to do so is quickly closing.



I’m not generally an alarmist but these changes will affect a lot of people and due to the uncertainty we don’t know how far the lenders will go.



If you would like to discuss your particular situation don’t hesitate to give me a call.



Good luck for those who are having a bet on the Melbourne Cup tomorrow,





Best Regards



Tony Height

Finance Strategist

Investor Loans Network

And the Banks are reporting record profits?

Something is going on, and it is not looking good on the surface

 

[bellenuit]

House price growth cools: ABS

http://www.theaustralian.com.au/bus...growth-cools-abs/story-e6frg9gx-1225946098300

 

[Mofra]

I just got a email talking about the new National Consumer Credit Protection Act rules.

The second one you've highlighted wont effect too much of the Australian market - ~95% of lenders (by market volume) wouldn't accept servicing guarantors anyway.

The statement requirement for Low Doc is interesting - will this apply to No Docs too?
No Docs traditionally maxed at 70% LVRs (80% for Low Doc) but the odd lender was going for 80%.

Thanks for sharing.

 

[robots]

hello,

Gidday, great day brothers

Just a reminder with all the posts, please keep in mind the title of the thread, i think we need to get some action on those posts referencing China or the USA

Yeah, give the regional towns a boost i reckon, Ballarat, Bendigo, Moe and plenty others

Good infrastructure around already

Thankyou
Professor robots