The future of Australian property prices

[sptrawler]

Oooo yeah... A nice little detached cottage near the Wimbledon Common and the Hand in Hand pub to live out our dotage.

Count me in too!

Well we have certainly served our apprenticeships, of dealing with wombles, so it should be easy to fit in. ?

 

[Smurf1976]

the building industry for smaller businesses is getting harder and harder to turn a coin. There are that many leech industries attached to it that the implosion would be epic when we see a downturn.

I know a few tradies who've lost interest in it simply because of what they see as too much nonsense.

I don't mean safety and sensible things like that. I mean things like not being allowed to drill a hole in the box because the manufacturer's instructions haven't specified that a hole is to be drilled and government regulations say thou shalt follow the manufacturer's instructions, which were written by their marketing department not anyone technical, to the letter or else you'll be fined.

The basic complaint is about "dumbing down" and trade skills not being allowed to be applied because it doesn't say on the page to do x therefore x cannot be done even though it's the most sensible and effective way to approach the task.

They became tradies in the first place because they didn't want to work with that sort of nonsense.

 

[Smurf1976]

A nice little detached cottage near the Wimbledon Common and the Hand in Hand pub to live out our dotage.

If we're going to Commons, Parks or Heaths in London then I'll pick Hampstead Heath.

It has the Stone of Free Speech in it. Nothing special about the stone, actually it looks like it's just painted concrete, but I like the name at least.

The Wombles and tennis are between them probably more fun though.

A 70% fall though. Well that would make London property ridiculously cheap compared to Sydney or Melbourne, indeed it would be cheap compared to Adelaide or Hobart. The UK might end up flooded with Aussie immigrants looking for somewhere they can afford to buy a house with a backyard. Oh the irony.....

 

[JamesBrown89]

I think that the Labour government destroyed the Australian economy, allowing China to control our country's real estate from 2008 to 2013. Julia Gillard and Kevin Rudd welcomed CCP. When destruction and war come our country needs its citizens, not these foreign investors. Australians during WW1 and WW2 fought well, so this generation can live in joy and peace, but these politicians have ruined our nation just for the sake of money.

 

[sptrawler]

I hope you have a thick flack jacket @JamesBrown89, you will cop some serious comments, talking down our magnificent Labor Party.

 

[wayneL]

"Australia ‘will pay foreigners up to $50,000’ to buy a new home as Perth market set to boom".

The WA government should f*** right off. And when they have f***** right off they should f*** off some more.

After that I am sure there is plenty more they can f*** right off again.

Because that is the message they are giving local home buyers

 

[againsthegrain]

"Australia ‘will pay foreigners up to $50,000’ to buy a new home as Perth market set to boom".

The WA government should f*** right off. And when they have f***** right off they should f*** off some more.

After that I am sure there is plenty more they can f*** right off again.

Because that is the message they are giving local home buyers

So how come locals don't get the same amount?

 

[wayneL]

So how come locals don't get the same amount?

The mind boggles, mate.

It's a question that all but the complicit proles are asking.

 

[Dona Ferentes]

I am resting in the Northern Rivers of NSW and Coolangatta.

It is a good time to be selling RE. The agents are often just asking for expressions of interest as the prices rise daily and buyers are flying in to Cooly Airport with wads of money from Melbourne.

Gawd help them when the bank foreclosures begin in April and mortgagee in possession sales begin. Locals in the know expect a 20% drop.

Brother at Tweed Heads; there's always been a Southern Premium at the Goldie. Local sport, it would seem.

 

[sptrawler]

Interesting that the property prices have remained buoyant, obviously the housing stimulus money did its job, will this mean the big 4 banks will have dodged a bullet? The next reporting season should be interesting, we may see a bank bounce so to speak IMO.

Property prices defy coronavirus pandemic

Capital city property values increased 2 per cent over the year, while country home prices increased 6.9 per cent.

www.smh.com.au

From the article:
The coronavirus pandemic also changed when people were willing and able to sell, and when the virus hit sales volumes dropped 40 per cent. But by the end of the year there were more sales than 12 months ago, CoreLogic research director Tim Lawless said.
"Record low interest rates played a key role in supporting housing market activity, along with a spectacular rise in consumer confidence as COVID-related restrictions were lifted and forecasts for economic conditions turned out to be overly pessimistic," Mr Lawless said.

At the height of the virus, major bank economists were predicting a major city property price crash shaving more than 20 per cent of home values. These forecasts were largely made before the introduction of federal government stimulus measures, including the $100 billion wage subsidy program JobKeeper, and emergency assistance from lenders to allow repayment holidays.

"Containing the spread of the virus has been critical to Australia’s economic and housing market resilience," Mr Lawless said.

 

[Mrmagoo]

I think that the Labour government destroyed the Australian economy, allowing China to control our country's real estate from 2008 to 2013. Julia Gillard and Kevin Rudd welcomed CCP. When destruction and war come our country needs its citizens, not these foreign investors. Australians during WW1 and WW2 fought well, so this generation can live in joy and peace, but these politicians have ruined our nation just for the sake of money.

AS a long time ALP supporter I agree, they did and they are responsible. Least of all they had control back then and housing affordability was much worse than now. Wages were lower, rents were about the same depending on where you live but they weren't orders of magnitude different from today. It was a bad period in time.

 

[Mrmagoo]

That is a bit nasty and sounds like woe is me, why don't you man up take a spoon of cement get off your butt and go to where the money is, or maybe where the hard work is.
Rather than bitching about missing out on the Sydney - Melbourne gravy train, some of us live in areas that have gone down in value, grow a pair and get over yourself.
Mate I have worked bloody hard all my life and I now have sold a bloody good house to help my kids and my grandkids so don't shove that $hit in my face.

Tell me a number or a yearly salary how much should we earn ? What I observe is very hard working people on very high incomes buying very low end housing for huge sums of money.

 

[Mrmagoo]

Yeh I know, but it is so soul destroying when you have FFking lived in $hit conditions in tthe North of W.A with only ceiling fans, to save your butt off and now you are being screwed by the government, by the banks, and try like %hit to help your kids and some dick who cant buy a FFFking house in Sydney is whinnninng like a baby.
I just wish we could discuss it man to man.

Lol why can't your kids help themselves ?

 

[sptrawler]

Lol why can't your kids help themselves ?

Three of the four can, the fourth is disabled LOl.
But still trying to achieve as normal a life as possible, without government handouts, which seems to be fairly unique these days.

 

[qldfrog]

Three of the four can, the fourth is disabled LOl.
But still trying to achieve as normal a life as possible, without government handouts, which seems to be fairly unique these days.

Why reject gov hand-outs?
To then have your property super or assets seized at the next labour win or reset move?do not expect gratitude from either government or populace....
Philosophical issue i know but i made my mind

 

[Mrmagoo]

Three of the four can, the fourth is disabled LOl.
But still trying to achieve as normal a life as possible, without government handouts, which seems to be fairly unique these days.

..... but does expect handouts from a rich dad instead ? Wouldn't it make more sense.. for housing to be related to incomes. Imagine for a moment the plight of the disabled without rich folks to bail them out.

Also what is wrong with government handouts ? Property investors seem to get an awful lot of them each year so I don't see the issue to be honest !

 

[Mrmagoo]

To then have your property super or assets seized at the next labour win or reset move?

This is true, the next ALP government will almost certainly crash property prices. They will be smarter about it this time and not openly admit it...

 

[sptrawler]

..... but does expect handouts from a rich dad instead ? Wouldn't it make more sense.. for housing to be related to incomes. Imagine for a moment the plight of the disabled without rich folks to bail them out.

Also what is wrong with government handouts ? Property investors seem to get an awful lot of them each year so I don't see the issue to be honest !

Two things, first I've always promoted the Singapore model of public housing.
Secondly I'm not rich, lol always was a wage slave, just never had delusion s of grandeur and had beer tastes with beer money.

 

[Mrmagoo]

Two things, first I've always promoted the Singapore model of public housing.
Secondly I'm not rich, lol always was a wage slave, just never had delusion s of grandeur and had beer tastes with beer money.

eh the singapore model is pretty awful, i think having house prices track wage growth is a much better model.

If people want to get rich they should have to work hard for it not just sit on their lazy bums and buy houses.

 

[sptrawler]

eh the singapore model is pretty awful, i think having house prices track wage growth is a much better model.

If people want to get rich they should have to work hard for it not just sit on their lazy bums and buy houses.

I think the Singapore model is far better than ours, but only my opinion.
As you say people should have to work hard for a house, I did my time in the bush in mining and construction, the conditions were crap but the money was far better than in the city.
The problem is, you do your time, then the government and general public say your a fat cat.lol
No pleasing people.