The future of Australian property prices

Agentm · 2 December 2010

i read the age article this morning

a 32% decrease on south yarra and 38% in middle park. but the outer burbs, are holdin the fort well..

i guess all those lamp posts and neighbours cats false bids had some impact.. the RBA said there was no bubble.. so a 3 month fall of this magnitude is of course "a softening"

i guess like blowing a bubble gum bubble, and it gets that hole, it tends to soften.. lol australia is experiencing population growth and economic growth and we have a softening in RE prices? this is madness? it the RBA telling pork pies to me .. they said no bubble and buy buy buy.. i mean baa baa baa

i guess this minor softening will mean there is a rebound of 64% to come in the coming weeks?

how much hot air is going to be released in the coming weeks as the fake 61% clearance rates continue to be posted, and the actual number of private sales dont increase.. the glut of properties will of course stay buoyant and bubbly,,

happy dreams for the RE bulls, happy days for the upcoming 1000 winning bidders this weekend in melbourne, shadow boxing and pumping themselves up for a massive bidding onslaught.. U2 is going to send them into a frenzy..

back to sipping lattes and being a developa maaatee

nukz · 2 December 2010

robots said:
hello,

my weekly payments havent gone up yet plenty of cash sitting in it,

no, still on the mega large, if you near richmond get into 7gms the finest around town i reckon Nukz

they open 6am, always have 3 people working on coffee department

and i reckon if you go to a coffee shop and only 1 person working the coffee you in for a dud, what you reckon?

thankyou
professor robots

I'm in the area around South Yarra/Toorak i suggest you try out Ganache at 250 Toorak rd, great coffee and nice atmosphere. :

By the way didn't somebody post the stages of the property collapse a while back and it outlined that the first propertys to slump are always the more expensive ones then the middle class are hit next.

againsthegrain · 2 December 2010

I am very curious what is going through the heads of all those poor misinformed who bought up properties for 450 - 550 k in dead end places such as cranbourne point cook etc (30 + kms from the city) on close to minimum wages.

There is already alot of noise coming about families struggling in the outer suburbs, give them 2 more interest raises and they will have to fold. sell out at 40% loss?

The question is once all the fools rush in where will more foolish fools come from to bail them out?

Maybye cyborg should start bailing them out

explod · 2 December 2010

againsthegrain said:
I am very curious what is going through the heads of all those poor misinformed who bought up properties for 450 - 550 k in dead end places such as cranbourne point cook etc (30 + kms from the city) on close to minimum wages.

There is already alot of noise coming about families struggling in the outer suburbs, give them 2 more interest raises and they will have to fold. sell out at 40% loss?

The question is once all the fools rush in where will more foolish fools come from to bail them out?

Maybye cyborg should start bailing them out

You have hit the nail on the head.

have a Son selling at Werribee at the moment, he almost owns his home but can see the writing on the wall from talking to his mates in the area. Hopes to rent for awhile. Has 2 young kids.

But once the mail really get through the stampede will be jammed at the gate.

This is they type of reason I have been bearish the propaganda on these threads for a few years now.

nukz · 2 December 2010

againsthegrain said:
I am very curious what is going through the heads of all those poor misinformed who bought up properties for 450 - 550 k in dead end places such as cranbourne point cook etc (30 + kms from the city) on close to minimum wages.

There is already alot of noise coming about families struggling in the outer suburbs, give them 2 more interest raises and they will have to fold. sell out at 40% loss?

The question is once all the fools rush in where will more foolish fools come from to bail them out?

Maybye cyborg should start bailing them out

This may be something to work what your saying

Rates pressure forces house sales

* Maurice Dunlevy
* From: The Australian
* December 01, 2010 12:00AM

One in 10 home buyers believes the latest round of interest rises could force them to sell up.

The figure comes from a survey commissioned by one of Australia's largest mortgage brokers.

The Mortgage Choice survey, completed before the Reserve Bank's Melbourne Cup day decision to lift the cash rate, found 9per cent of mortgage holders could not afford any increases to the repayments on their loans.

The survey found that the two further 25-basis-point increases widely tipped for next year would be enough for about 18 per cent of home buyers to consider selling.

I have a super accurate prediction for 2011 ...

There will be lots of story's on Today Tonight & Current Affair about home-owners who are forced to sell and are now blaming the banks for lending them the money.

nukz · 2 December 2010

explod said:
You have hit the nail on the head.

have a Son selling at Werribee at the moment, he almost owns his home but can see the writing on the wall from talking to his mates in the area. Hopes to rent for awhile. Has 2 young kids.

But once the mail really get through the stampede will be jammed at the gate.

This is they type of reason I have been bearish the propaganda on these threads for a few years now.

Yea its deffinetly good timing i would say, i rent myself and dont have any problems with it lol i dont understand why theres this stigma in Aus that owning a house is so important lol

That stampede is deffinetly a worry in the future because when that starts it will be a huge problem.

MR. · 2 December 2010

May his sole RIP.

Time to be moving on …...

Stumbled here a few years ago after being lured here under false pretences but ASF soon rectified that problem and have maintained fair ethics. While I feel a little sad in departing the family I do have to concentrate on the task at hand of the new engineering business. Money much better spent than buying property, but what do I know, even the machinery salesman just bought another IP. Neither venture is without their risks….. If it’s any consolation I’m already down the tubes due to the importer “deposit, what deposit” and I have an empty factory clocking $200- a day with months of extra waiting……

Waited for the all mighty property correction “which didn’t happen”. No blood on the streets except mine. It’s going to be the slow painful way by the looks of it, so decisions were made. Last ABS figures stilled showed house price increases and on that note and without further a due time to humbly depart…..

Not a share trader or really a share investor and naturally question my membership here. It’s been a valued education and the money markets await my return if I come calling.

regards
MR.

MR. · 2 December 2010

Joe Blow said:
Thanks for maintaining ASF ethics wishing you well.
You know you shouldn’t be doing what you are doing with the posts!

Just this one time. Will not happen again……

Go Nuke said:
See you

See ya Nuke. All the best with your decision.

Uncle Festivus said:
Remember all I have written.

Treating it like gold UF. You know how it is you gotta sometimes try to make a break!

Timmy said:
good luck

thanks

medicowallet said:
Cheers and good wishes

thanks

robots said:
No, not another one of the 12 disciples of god! Man, there will be none left soon!

Just evening up the numbers bro. Plenty you have in the kitty, renters in abundance, make the repayments. Keep on, keepin on.

Mr Z said:
What’s happening I just took you all off ignore and no one here!

Ha ha…….

SusanW said:
I’m going too, all the best MR.

The same to you. See ya in Brissy one day perhaps.

explod said:
Have a good one.

Thanks explode you are one of the 12 disciples…..

MR. said:
You are truly the best

Thanks MR.

nunthewiser said:
You got that from me! You will not be missed.

Thanks Nun, All the best. Humour is the true remedy…….

trainspotter said:
cheers MR.

All the best. Keep up the oyster irritating and choice developments

Aussiejeff said:
The world is going down the tubes

We know but gotta move forward. The sun will rise again tomorrow.

prawn_86 said:
All the best

Thanks Prawn. All the best coming out of uni and all that and hope you find the job you seek.

satanoperca said:
Bye

Yes satanoperca, many posts I enjoyed reading

Dangerous said:
catch you later

sure thing!

kincella said:
Can I come back now?

You didn’t have to leave, think you left on your own accord.

medicowallet said:
bye

bye

drsmith said:
MR. nice to have had you here

Thanks Doc, nice to have read your posts

tech/a said:
You got the counts wrong on that last post count

I knew it! I tried and I tried! Thanks anyway teach.
Continue to keep it positive….. and don’t forget to run that multinational of yours from time to time!

Merry Christmas all.

Bye.....

trainspotter · 2 December 2010

Peace out MR. All the best for XMAS and the rest of the festive season. Nice knowing you in this cyber world. Remember one thing ....... see piccy below.

MR. · 2 December 2010

ts looks like me factory!

Guys, gather round, gather round...., "group photo"

bye bye....

Agentm · 2 December 2010

lets just dedicate the next few pages to saying good bye..

MR. · 2 December 2010

Agentm said:
lets just dedicate the next few pages to saying good bye..

Agentm, don't ya go popping me bubble 'cause we know of no others!

Weren't you on the list or sumting?
Sorry, not intentional just can't list everyone..... :xmaswave

trainspotter · 2 December 2010

More like this group photo !!! You still here MR. ????

MR. · 2 December 2010

No.... :goodnight

OK2 · 2 December 2010

explod said:
You have hit the nail on the head.

have a Son selling at Werribee at the moment, he almost owns his home but can see the writing on the wall from talking to his mates in the area. Hopes to rent for awhile. Has 2 young kids.

But once the mail really get through the stampede will be jammed at the gate.

This is they type of reason I have been bearish the propaganda on these threads for a few years now.

Good idea. I thought the same until you calculate the real estate agent's commission, stamp duty to buy back in to the market and costs associated with renting or moving that average 100k for an average person. I decided to stay put.

explod · 2 December 2010

OK2 said:
Good idea. I thought the same until you calculate the real estate agent's commission, stamp duty to buy back in to the market and costs associated with renting or moving that average 100k for an average person. I decided to stay put.

He is only doing it for family. Kids growing and current home too small.

robots · 3 December 2010

hello,

oh gidday everyone, great day in melbourne

looks as though a bit of natural selection has hit ASF, oh well, good clean out always good, only the strong survive

well great figures out from the ABS the other day, a few ups and a few downs with the median just plodding along

looks as though the auction results dont mean anything there Medicowallet, hopefully we get some more posts on the thread about property now

thankyou
professor robots

sinner · 3 December 2010

OK2 said:
Good idea. I thought the same until you calculate the real estate agent's commission, stamp duty to buy back in to the market and costs associated with renting or moving that average 100k for an average person. I decided to stay put.

All premised on the assumption that you have an orderly market with fair or high demand to sell into. If the above is bad, what would it be like selling into a distressed market?

electronicmaster · 3 December 2010

Is Robots is selling?

Ive been wondering why he is uplifted all this time?

Mr Z · 3 December 2010

trainspotter said:
More like this group photo !!! You still here MR. ????

You are the big guy to the left of the crowd, on the right of the photo... I just know it!

I'm still here Bot's, just yawning too much to post.

The future of Australian property prices

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