The future of Australian property prices

[sptrawler]

This article gives a good analysis of the Perth property situation, and probably why Perth people were scared to death of the proposed changes to negative gearing, most believed it would have made a bad situation catastrophic.

https://www.abc.net.au/news/2019-10...ate-cut-to-fix-perths-housing-market/11558586

 

[SirRumpole]

Not good news for apartment buyers in Sydney and Melbourne.

https://www.abc.net.au/news/2019-10...partments-worth-less-than-bought-for/11613256

 

[sptrawler]

Someone is going to be carrying some hefty on paper loses, I wonder how many companies will hit the wall, in the near to mid term until the structural issue saga becomes a distant memory. Once confidence is lost, it takes a long time to restore it.

 

[sptrawler]

It looks as though the pain is just beginning, this current up tick in prices in Sydney, Melbourne, may be just a bounce on the bottom.

https://www.smh.com.au/business/com...-in-sydney-and-melbourne-20191016-p5318u.html

 

[Bill M]

It looks as though the pain is just beginning, this current up tick in prices in Sydney, Melbourne, may be just a bounce on the bottom.

https://www.smh.com.au/business/com...-in-sydney-and-melbourne-20191016-p5318u.html

Not only do we have to contend with dodgy builders that go broke before your apartment is built but now you have dodgy builds as well. Look at the debacle of the Opal Tower in Sydney. Those flats they built 50 years ago are still standing strong, some of the new builds can not be occupied. Unbelievable, we are going backwards.
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In Sydney's Opal Tower, 169 apartments remain empty almost four months after evacuation.
https://www.abc.net.au/news/2019-04...l-tower-unoccupied-four-months-later/11002796
---

 

[SirRumpole]

Not only do we have to contend with dodgy builders that go broke before your apartment is built but now you have dodgy builds as well. Look at the debacle of the Opal Tower in Sydney. Those flats they built 50 years ago are still standing strong, some of the new builds can not be occupied. Unbelievable, we are going backwards.
---
In Sydney's Opal Tower, 169 apartments remain empty almost four months after evacuation.
https://www.abc.net.au/news/2019-04...l-tower-unoccupied-four-months-later/11002796
---

One explanation for this crisis perhaps.

https://www.theage.com.au/politics/...g-industry-privatisation-20190717-p5287b.html

 

[sptrawler]

Not only do we have to contend with dodgy builders that go broke before your apartment is built but now you have dodgy builds as well. Look at the debacle of the Opal Tower in Sydney. Those flats they built 50 years ago are still standing strong, some of the new builds can not be occupied. Unbelievable, we are going backwards.
---
In Sydney's Opal Tower, 169 apartments remain empty almost four months after evacuation.
https://www.abc.net.au/news/2019-04...l-tower-unoccupied-four-months-later/11002796
---

Self regulation at its finest.
Snap, Rumpy.

 

[SirRumpole]

Self regulation at its finest.
Snap, Rumpy.

Not being political sp, the LNP probably started the rot but Labor were too lazy to stop it.

 

[sptrawler]

Not being political sp, the LNP probably started the rot but Labor were too lazy to stop it.

It's the same old story, the more the pollies can offload, the less responsibility for the same or more money. Human nature.

 

[SirRumpole]

It's the same old story, the more the pollies can offload, the less responsibility for the same or more money. Human nature.

Yes, but the government gets the blame in the end.

That's probably not a concern for Jeff Kennet or Joan Kirner or Steve Bracks who got out before the manure hit the propellor.

 

[sptrawler]

Yes, but the government gets the blame in the end.

That's probably not a concern for Jeff Kennet or Joan Kirner or Steve Bracks who got out before the manure hit the propellor.

Yep, as we have said before, you can delegate responsibility, but not accountability. They make their lives easier by giving the responsibility to the private sector, but in the end they are responsible for making the sure the private sector maintain standards.
They will probably have to resurrect the technical sections of town planning and inspections, which wouldn't be a bad thing, as it would give jobs to engineering graduates.
I wonder in the end, if the Government will have to knock over these towers, fine the builders and have the towers re built.

 

[sptrawler]

Looks like the first step on the 'long road back', to reasonable building practices, still a shame for those caught up in the current debacle.

https://www.smh.com.au/politics/nsw...to-construction-industry-20191023-p533ev.html

 

[sptrawler]

A bit of stamp duty relief, to kickstart W.A's anemic property market, I wouldn't hold my breath on it working.

https://www.abc.net.au/news/2019-10...wa-apartment-buyers/11632164?section=business

 

[satanoperca]

A bit of stamp duty relief, to kickstart W.A's anemic property market, I wouldn't hold my breath on it working.

https://www.abc.net.au/news/2019-10...wa-apartment-buyers/11632164?section=business

So long as property can revive in Perth, everything we be OK?

 

[SirRumpole]

Property too expensive ?

Here's one that's dirt cheap.

https://www.abc.net.au/news/2019-11-14/earth-bag-dome-home-new-way-cost-sustainable-housing/11699840

 

[jbocker]

Property too expensive ?

Here's one that's dirt cheap.

https://www.abc.net.au/news/2019-11-14/earth-bag-dome-home-new-way-cost-sustainable-housing/11699840

Dirt bag vs brick. Fundamentally the same thing just one is a hell of a lot thicker.
I am not surprised it took 2 years to get council approval. Then 2 years to build. How is that sustainable?

 

[qldfrog]

I thought the same, on my own land, with no connection required to either water, power..already there and sewerage, there was 20k council fees, 12k sewerage treatment plus various related fees, fire rating and windows door to standard 10k
So 42k just to basically start building with bag bricks or whatever
The housing cost in australia is first and mostly a regulatory cost, and see after the bushfires how we will get another layer of the same

 

[Bill M]

Here's one I didn't know about. Watch out all you people who live overseas.

Thousands of Australian expats face tax slug under changes to CGT main residence exemption

https://www.abc.net.au/news/2020-01-02/australian-expats-face-tax-slug-cgt-main-residence-exemption/11836094?section=business

 

[qldfrog]

Here's one I didn't know about. Watch out all you people who live overseas.

Thousands of Australian expats face tax slug under changes to CGT main residence exemption

https://www.abc.net.au/news/2020-01-02/australian-expats-face-tax-slug-cgt-main-residence-exemption/11836094?section=business

Yes, aware of that one..so you need to sell all land assets before moving, and then the question will be why come back, but ehh i am sure the ato knows better

 

[fergee]

The housing cost in australia is first and mostly a regulatory cost, and see after the bushfires how we will get another layer of the same

It was a bit of a nightmare in NZ after the Christchurch EQ red tape slowed rebuilding, insurance pay outs took years, labour to rebuild was scarce.

Ironically this could end up being another boost to Aussie house prices People loose homes to fires ~ need new places to live ~ housing market tightens ~ need to build new houses labour tightens ~ need immigrants to support rebuild ~ immigrants need houses too ~ housing market tightens even more pushing prices up. Just saying as this is what happened in NZ after the EQ.