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The future of Australian property prices

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robots said:
i just reported the auction results and the likes of you and others extrapolated that to mean i am a property perma bull, got banned for it too. better watch out MW your account may be in trouble
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Nothing useful can ever be "extrapolated" from the ramblings of a crackpot poster. You revel in the misfortunes of others, calling them turkeys and laughing at their losses. Just more despicable trash from someone who adds nothing to the debate here and deserves to be banned.

even with the GFC people got smashed, that was all by rogue's (advisors) as well?
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Never implied anything of the kind oh moronic one. BTW, Australia is one of the very few property markets that has not been "smashed" post GFC. Consider yourself lucky and thank the Chinese for your good fortune. Investor of the year. LOL

Keep on smoking that wacky tobacci, get back on your new bike and watch out for the freight train heading your way.
 

lol I thought my brain was fried with the choof, but this robots dude takes the cake. I bet he even drinks the bong water lol What a legend in his own lunch time.
 

So what you are saying is that basically the ASX has returned to its average norm from the overinflated values that it was? Big deal everything goes up and down, but never property right? Property can never take a bit hit like that Sir Professor. BTW why are you living in Ballarat now? What happened to the high life in St Kilda? How's the caravan park goin dude lol
 
hello,

hehehehehehe, great afternoon

man i wouldnt have a clue about property or shares and have expressed that opinion on this blog,

looks like i'm a legend right here at ASF bro as people want to keep writing about me, i keep the advertisers coming, the peace in all other threads, the creators are very thankful for my service

i like buckets though choofer, just goes whhhoooooooosh

thankyou

professor robots
 
Robots stand by there will be money to be made of of RE, spraying painting dead grass green, emptying swimming pools, trash outs, forced evictions, boarding up windows for banks and as the depression get worse more jobs will be created.
 
median price decline for houses at auction in melbourne in the September quarter

= 5.1%

that is not so small, I wonder if some of the more fragile investors might start to worry at this.

Awaiting the december quarter results.. however, auction clearance rates have fallen further than from the september quarter over the last couple of weekends, not that it means anything

MW
 
Mass exodus of Cairns property market. Very worrying. Can now buy an apartment in Port Douglas for under 100 gorillas. Bring it on
 
choofer said:
Mass exodus of Cairns property market. Very worrying. Can now buy an apartment in Port Douglas for under 100 gorillas. Bring it on
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Yeh i am watching Cairns with interest. Would love a little holiday unit there.
 
prawn_86 said:
Yeh i am watching Cairns with interest. Would love a little holiday unit there.
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Too hot for my liking.

I just can't see anything that can prop Cairns up, with tourism so devastated by lack of Japanese tourists and the high Aussie dollar.

Perhaps it will just become a retirement/social security city.

MW
 
choofer said:
http://www.realestate.com.au/buy/between-0-100000-in-manoora/list-1?preferredState=qld

I like the way they say, "owner says sell my unit", or "must be sold yesterday" lol

Wait another year and should be half the price ;-)
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Mate I like Cairns too but there is always a price to pay. I noted one nice unit at $79,000 but it had a $10,000 body corp fee p/a. I wouldn't touch that with a barge pole. That's 2/3rds of your rent on body corp.

This one:http://www.realestate.com.au/property-unit-qld-cairns-108251796

The reason why it won't sell is the ridiculous body corp fees, I don't pay anywhere near that in Sydney.
 

I think that is management fee, electricty rates etc. But yes too expensive lots of better places round justr wait a year
 
choofer said:
Mass exodus of Cairns property market. Very worrying. Can now buy an apartment in Port Douglas for under 100 gorillas. Bring it on
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Mass exodus of workers too? I'm in Townsville plumber came around the other day to do some work on place I rent he was from Cairns moved here few months earlier said work was hard to find so packed up and left.

Will do some trips up there early next year and take a look always liked Cairns.
 

Hmm, a little Melbourne property price bashing with selective statistical analysis and biased interpretation by van Onselen.

Let's look at a different take on the stats shall we...

From http://theage.domain.com.au/real-estate-news/citys-population-explosion-20110331-1cng1.html

New figures from the Bureau of Statistics show that while the boom in overseas immigration cooled off all over Australia in 2009-10, Melbourne was again the centre of Australia's population growth. Melbourne's growth in the past 9 years equals roughly six Ballarats, three Hobarts and one Gold Coast.

Melbourne's growth in the past 9 years equals roughly six Ballarats, three Hobarts and one Gold Coast.

■ In the year to June 2010, Melbourne is estimated to have grown by 79,000 people, or more than 1500 a week. For the ninth consecutive year, Melbourne had the biggest growth of any city in Australia.

■ Since 2001, Melbourne has gained 605,000 new residents, up 17 per cent, rapidly pushing out the urban boundary in every growth corridor. That is far ahead of growth of 447,000 in Sydney, 380,000 in Brisbane, and 303,000 in Perth.

■ For the first time in almost 30 years, Melbourne's population is within 500,000 of Sydney's, and gaining. If the growth rates of 2001-10 continued, Melbourne would overtake Sydney in 2028, when each city would have roughly 5.6 million people. At June 30 last year Sydney had 4.575 million people to Melbourne's 4.077 million.

■No other city in Australia has ever recorded growth of this size. It has strained the city's infrastructure and services, adding to congestion on the roads, delays, overcrowding on public transport and waiting times in hospital emergency wards. Some believe it was a key factor in Labor's unexpected loss at the 2010 state election.

■The four fastest-growing municipalities in Australia in 2009-10 were all on Melbourne's fringe.

and this...

Projections for Melbourne
Melbourne is experiencing record population growth. It grew by 273,000 between the 2001 and 2006 censuses.

Overseas migration is the main contributor to Melbourne’s growth, with almost a quarter of migrants coming to Australia settling in Melbourne.

Melbourne’s share of Victoria’s population has been increasing reflecting a worldwide trend to urbanisation.

Melbourne is projected to grow from 3.744 million in 2006 to 5.525 million in 2036, an increase of 1.781 million.

The number of Melbourne households is projected to increase by 51 per cent between 2006 and 2036, compared with a 41 per cent increase in population.

The Next Twenty Years
To accommodate this increase, 600,000 extra households will be required in Melbourne over the next 20 years.

So even with the projected "slowing" of population growth (still robust) in Melbourne, we will still be bursting at the seams unless a lot more housing is constructed.

And finally there is this...

http://theage.domain.com.au/real-estate-news/home-construction-on-urban-fringe-excessive-20110501-1e364.html

MELBOURNE is building thousands more houses on its sprawling fringe than there is demand for - while at the same time the supply of houses in established suburbs is dramatically inadequate, a leaked confidential report reveals.

The VicUrban report also reveals Melbourne's building industry is failing to meet the need for housing for overseas migrants to Melbourne.

According to The Melbourne Residential Market: Demand & Supply Overview, new housing developments on the city's fringe are the only areas in Melbourne where building approvals outstrip demand, with a surplus of 4775 houses.

The October 2010 report says that despite a surplus of housing in the new greenfield developments, Melbourne overall has a housing shortfall of more than 6000 homes a year because of a shortage of housing in established suburbs.

The report highlights an overwhelming demand for ''family housing'' and recommends that government policy encourage the building of more family-friendly townhouses in existing suburbs.

Overseas migration to Melbourne was the main factor driving housing under-supply, the report showed.

It says that migration ''levels that exceed 56,000 persons per annum currently exceed the industry capacity to deliver new housing''.

Melbourne's migrant intake rose sharply from 40,000 a year in 2006 to 83,000 a year in 2009, and is now at 63,000, according to the report.

In summary then, the Melbourne property market is not as monolithic and easy to categorize as a whole as van Onselen leads one to believe. It's quite stratified with fringe development oversupplied and established areas under supplied and little prospect for improvement given strong community oppostion to higher density development in established areas.
 
I don't care anything for the article, except the graph ends so long ago, and I wonder why it happens.

As you point out, another point is stupid.

No wonder people cannot make informed decisions, with so much biased reporting out there


MW
 
hello,

any data yet on todays auctions? MW might of been banned for posting up the results just like I was, oh well life goes on

just make sure you do your research

great day for storm chasers in Ballarat, awesome what nature delivers us

thankyou

associate professor robots
 
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