The future of Australian property prices

[kincella]

well I know posters who sold at what they thought was the top back in 2000, they are still waiting to buy back cheaper now..
10 years later...
and see my post today...could have bought a house for 200k's in year 2000...now same house is 900k's

the way some of you are going, you will end up like my elderly neighbour...he ended up renting for over 50 years....he was always waiting for the price to come down....

property investors love 'good' renters....we dont want everyone to be an owner, we would be out of business....but since that is highly unlikely...with all the immigrants coming in...the ratio may turn back to owners 60% renters 40%

don't worry...just make a choice, and be happy with it....

 

[leedskalnin]

I sold just prior to the GFC. pure luck maybe. but I would have preferred to sell 6 months before. but hey can't complain.

 

[MR.]

Those who dont, look for every reason why you shouldnt buy property and have and will most likely do so for their entire life.

The real reason of course for those who cant bring themselves to buy property is FEAR.
The greatest enemy of human growth.

Thanks for dropping in wise old man! Drop in again in another 3 months.

agree tech/a
....some of us have been thinking about Oaklands in regional NSW where the Coalworks black coal mine may be a goer....and invigorate the locals in the surrounding towns....big opportunites there for anyone interested in housing and providing accommodation for the 650 expected workers

the other town is in Mortlake in regional Vic...with a planned resources project......

No worries, we have China

don't worry...just make a choice, and be happy with it....

Who isn't happy

I sold just prior to the GFC. pure luck maybe. but I would have preferred to sell 6 months before. but hey can't complain.

Or 6 months after. But hey, we under estimated how stupid people can be with low interest rates!

 

[leedskalnin]

Thanks for dropping in wise old man! Drop in again in another 3 months.







Who isn't happy



Or 6 months after. But hey, we under estimated how stupid people can be with low interest rates!

MR , i have just joined this forum , why do you call me stupid.

 

[nunthewiser]

MR , i have just joined this forum , why do you call me stupid.

READ the contexts of the posts he has neither called you wise NOR stupid.

 

[leedskalnin]

READ the contexts of the posts he has neither called you wise NOR stupid.

I have re read his or her posts , I'm nun the wiser . ??? I will have to sit back , play a few tunes on my guitar and see where I have missed the plot, but up until now I am still on the same path.

 

[explod]

READ the contexts of the posts he has neither called you wise NOR stupid.

In the literal sense yes, but leaning a bit to sacastic insinuation IMHO; and on which one could surmise that one is being projected, to other passive observers, as stupid.

cheers explod

 

[nunthewiser]

I have re read his or her posts , I'm nun the wiser . ??? I will have to sit back , play a few tunes on my guitar and see where I have missed the plot, but up until now I am still on the same path.

you a nun too ? ...... all cool enjoy the forums , just pointing out that he wasnt insulting ya .

In the literal sense yes, but leaning a bit to sacastic insinuation IMHO; and on which one could surmise that one is being projected, to other passive observers, as stupid.

cheers explod

Geez explod i failed first grade engrish and i can still work it out ......

Nothing indepth about it.

 

[leedskalnin]

Thanks for dropping in wise old man! Drop in again in another 3 months.







Who isn't happy



Or 6 months after. But hey, we under estimated how stupid people can be with low interest rates!

MR do you think the property market will return to levels seen in 2007 ?? that is my underlying question.??

 

[cudderbean]

Not sure if this is the appropriate thread for this question, but you are all interested in property prices so maybe one of you will know. I'll start a new thread elsewhere if you think i would get better response.

One's own home is just about the biggest investment most people make and yet there is so little computer data available compared with the stock market.

I wrote to Personal Investment magazine about 15 years ago requesting perhaps 10 years of monthly back data for the median price in all the capitals (suburb by suburb would have been nicer), and thereafter an update in the monthly mag. The letter was published and a reply from the editor.. they'd see what they could do, but nothing ever came of it.

I'd just love to run some of my stock market indicators over even the rawest of median prices and volumes.... what an edge you'd have, because there's a much longer time lag for market tops and bottoms than there is trading shares. Real Estate agents have all the very latest sales in databases they guard jealously... the land titles office info is usually only published quarterly retrospectively.

These figures are often published every month or so in newspapers, but I'm interested in back data and ease of import in say .csv format to a spreadsheet

2 questions:

1. Does anyone know a source (would willingly pay for data) for up to date computer importable figures on house prices that are published regularly.

2. It's easy of course to enter data into Excel to produce a chart. Does anyone know of any software that does the opposite i.e. scan a chart from a newspaper and have the software deconstruct the middle/darkest pixels from the chart and convert it however crudely into real figures for each axis, that one could import into Excel, and thereafter update manually if necessary. One might have to run a cursor roughly over the chart to help the software recognize what it is you want it to convert, then it snaps to the middle darkest pixels, and perhaps manually enter one or two key data points on the chart so that it could translate the chart and scale.

I notice there is software around that will help you make a phone wire vanish from a favourite snapshot, so surely such sort of dark pixel recognition software is technically possible. If it has already been developed, I'd certainly buy it. Any ideas please.

Thanks for your help.

:bier:

 

[MACCA350]

MR do you think the property market will return to levels seen in 2007 ?? that is my underlying question.??

Past that........

REIV

cheers

 

[leedskalnin]

Past that........

REIV

cheers

looks like a natural gas graph, sooner or later , pressures will drop , and pressure will drop to zero

 

[MR.]

Thanks Macca, needed that!

MR , i have just joined this forum , why do you call me stupid.

Didn't call you any such thing. Prices are now higher on average than when you sold. I was just saying that I (and perhaps you) under estimated the growth in property prices in the past 12 months when interest rates became so low.

you a nun too ?

Still making me laugh!

 

[leedskalnin]

Thanks Macca, needed that!



Didn't call you any such thing. Prices are now higher on average than when you sold. I was just saying that I (and perhaps you) under estimated the growth in property prices in the past 12 months when interest rates became so low.


Still making me laugh!

my apologies MR ,

 

[tech/a]

more like, there could well be a bargain to be made in months to come by holding off buying now. my guess only.

If you have a look at the first posts on this thread (Property Thread the big one) back in 2003 the feeling was just the same as it is today.

The best time to buy property is NOW.

It was in 2003,2004,2005,2006,2007,2008,2009, and NOW.
Now I'm not saying EVERY property DYOR

 

[MR.]

The best time to buy property is NOW.

It was in 2003,2004,2005,2006,2007,2008,2009, and NOW.
Now I'm not saying EVERY property DYOR

"Past performance is no indication of future returns"

 

[cutz]

The way eveybody is banging on, property seems to be a sure bet ATM, time to jump on board,

Gotta luv it, a country as huge as oz, yet there is a property shortage, talk about being taken for a ride.

 

[tech/a]

"Past performance is no indication of future returns"

Really.
Has been throughout my Father and my lives--86 yrs.
If you look at the majority of people with serious wealth they WILL have a background of Property.

But hey I'm not here to convince you if your happy with your lot and that doesnt include a property portfolio---then thats all that matters.

Back in 3 mths---or so.

 

[kincella]

cutz....lets be clear on the shortage....

The shortage of houses, is confined to the cities, where due to state and local govt policies, govnuts have been restricting the release of land available for new housing for decades. That situation is not about to change soon. Brumby and Madden made a big noise about releasing land more than a year ago, but that project has now been stopped.

There is no shortage of houses outside of the cities.

The majority of people want to live in the city.

There is a news article out today regarding the release of land for housing in NSW, it is the first release in over a decade....people camped on the site for days, to buy a block of land for between 185-250 k's...young ones expect the finished house and land package will cost them a minimum of 600K's...
cannot find the article now...an old car racing circuit in Sydney's west.

It seems no one wants to make the change and move out of the city, where there is really affordable and cheap housing, and a wonderful lifestyle available for all.

Last year on this forum I suggested Euroa in Vic would be a great investment, and a lifestyle change. The Lindsay Park Stud from SA was moving to that town. There would be increased interest in the town, from the visitors to the stud, and the tourism etc. All the really cheap houses have gone, some have been renovated and are back on the market at double the original price. There is still plenty of affordeable houses, there...its only 1.5 hours from Melb.
With the drought breaking in inland Nsw and Vic, there will be a resurgence of jobs and opportunites there again.

The regional areas have a lot to offer...no more public transport that does not work, not stuck in traffic for hours each day, clean air, plenty of jobs for the tradies and those willing to have a go etc
Just a move to the outer suburbs, could make you very rich, by the huge saving from not paying half your wage into a mortgage, freeing up the money for what ever you like.


Melbournes growth today, is an increase of about 325 people a day, over 2200 pw, 9000 + pm....almost 119000 people per year.

 

[UBIQUITOUS]

Melbournes growth today, is an increase of about 325 people a day, over 2200 pw, 9000 + pm....almost 119000 people per year.

Yeh, and none of them are students, children or people who don't want to/can't afford to buy property.