The future of Australian property prices

[MovingAverage]

Funny, can not see either so must be in my blocked list.and... i am no boomer..

We are in great company frog ?

 

[MovingAverage]

ultracrepidarian .

That's a big word...had to look that up

 

[Dona Ferentes]

I can't see who you're responding too as he has blocked me. But, I'm pretty certain I know who it is and his constant criticisms of boomers and blaming them for his lack of whatever it is he wants is boring to say the least.

Shucks, me too. This is a movement? Or, maybe not, doesn't blocked mean constipated?

Two more words : prolix and discursive.

 

[MovingAverage]

doesn't blocked mean constipated?

maybe, i'll ring my plumber and ask him to fix my constipated drain pipe

 

[qldfrog]

maybe, i'll ring my plumber and ask him to fix my constipated drain pipe

A boomer issue i am sure ?

 

[Warr87]

Let me guess, arts degree?

what's wrong with my B.A.?

 

[Gunnerguy]

what's wrong with my B.A.?

Nothing wrong with BA. It was probably my first ever share purchase in the early ‘90’s. Ops, that means I’m a boomer.
Gunnerguy

 

[sptrawler]

This article shows how ridiculously out of step Sydney and Melbourne are, when compared to the rest of Australia. To try and use them as an example as to the unfairness of the property market, shows a lack of common sense, blind Freddy can see there is a problem with the price to income in both Sydney and Melbourne..

The places in Australia where it's currently cheaper to buy than rent a house

Record low interest rates and work from home have pushed up rents across regional Australia and that has made mortgage repayments cheaper than renting across much of the country especially in regional Northern Territory and Western Australia.

www.abc.net.au

From the article:

 

[greggles]

Even in this hot market there are still plenty of bargains out there for those willing to get their hands dirty and pick up a hammer and a paint brush... at least near Brisbane.

3 Bedroom house at Dinmore near Ipswich on 909m2 for $299,000: https://www.realestate.com.au/property-house-qld-dinmore-136804830

It's no Buckingham Palace, but it's very livable has has a huge back yard. Set back off the street too.

A tidy looking 3 Bedroom brick home at Dinmore on 594m2 with two sheds for $289,000+: https://www.realestate.com.au/property-house-qld-dinmore-136792998

 

[sptrawler]

Why people would want to live in Sydney/Melbourne, when they could live in Perth for a fraction of the cost is beyond me.
Perth better climate, better job prospects, better value for money housing.
Sydney/Melbourne, great place to visit, but who would want to live there? $600 return airfare from Perth.
Keep the ponzi East Coast scheme running IMO, the last thing W.A needs is runaway house prices.

This city has the most affordable capital city homes in Australia, but desperate buyers can't crack the market

Susannah Morcombe has spent almost a year trying to find a home to buy in Perth without success, and is finding little relief in the fact Perth now has the lowest median house price of all capital cities for the first time in 28 years.

www.abc.net.au

 

[sptrawler]

It looks as though owner occupiers are still the ones driving the market.

Australian mortgage growth launches

The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of June. Quarterly mortgage credit growth continued to firm, rising for the 11th consecutive month to 1.8% – the highest rate of growth since 2015: Owner-occupiers continue to drive mortgage...

www.macrobusiness.com.au

From the article:
Again, this growth is being driven by owner-occupiers, whose annual mortgage growth was 7.2% in the year to May 2021, versus only 2.0% growth in investor mortgages:

 

[MovingAverage]

It looks as though owner occupiers are still the ones driving the market.

Australian mortgage growth launches

The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of June. Quarterly mortgage credit growth continued to firm, rising for the 11th consecutive month to 1.8% – the highest rate of growth since 2015: Owner-occupiers continue to drive mortgage...

www.macrobusiness.com.au

From the article:
Again, this growth is being driven by owner-occupiers, whose annual mortgage growth was 7.2% in the year to May 2021, versus only 2.0% growth in investor mortgages:

No wonder the ALP recently walked away from their position on NG--investors just aren't driving the recent market surge. Probably explains why all those folks who've been blaming investors and OS investment as the cause of our capital city real-estate woes are being very quiet. Hopefully people are waking up to the fact that cheap money is the cause

 

[divs4ever]

It looks as though owner occupiers are still the ones driving the market.

Australian mortgage growth launches

The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of June. Quarterly mortgage credit growth continued to firm, rising for the 11th consecutive month to 1.8% – the highest rate of growth since 2015: Owner-occupiers continue to drive mortgage...

www.macrobusiness.com.au

From the article:
Again, this growth is being driven by owner-occupiers, whose annual mortgage growth was 7.2% in the year to May 2021, versus only 2.0% growth in investor mortgages:

that is an unfair comparison , given various interventions , in home lending ( either subtle pressures put on banks by the regulators ) or incentives give to certain home-buyers

and what is doesn't show are buyers ( investors or intending home-owners ) who do not need to take out a mortgage

the other game i am aware of are owner-occupiers that intend to shift residence in say 5 years converting the property into a rental or a property for sale ( 'fixer-upper' )

 

[MovingAverage]

Sydney/Melbourne, great place to visit, but who would want to live there?

This city has the most affordable capital city homes in Australia, but desperate buyers can't crack the market

Susannah Morcombe has spent almost a year trying to find a home to buy in Perth without success, and is finding little relief in the fact Perth now has the lowest median house price of all capital cities for the first time in 28 years.

www.abc.net.au

That's a bit harsh isn't it. I've lived in both Melb and Syd and both are great cities to live in with lots to offer. Not saying it's easy to get ahead, but have to admit I wouldn't live anywhere else. Like all big cities they have their problems, but having been fortunate enough to have also lived in a few big European and US cities--Melb and Syd are great places. Just glad I'm not young and trying to get ahead in those cities.

 

[over9k]

Yeah I'm pretty confident most of the programs only require you to live in the place for 12 months to get the free cash etc.

Pretty simple way of gaming the system really, and I think you can actually rent out the other rooms you're not personally living in during that period too (though not sure of that).

 

[sptrawler]

That's a bit harsh isn't it. I've lived in both Melb and Syd and both are great cities to live in with lots to offer. Not saying it's easy to get ahead, but have to admit I wouldn't live anywhere else. Like all big cities they have their problems, but having been fortunate enough to have also lived in a few big European and US cities--Melb and Syd are great places. Just glad I'm not young and trying to get ahead in those cities.

It was a bit tongue in cheek, I do love the amenity of both Melbourne and Sydney, but on balance the weather, the cost of housing and the availability of high paying jobs, always made Perth the choice for me.
I suppose if I was a multi millionaire I would live in Sydney or Melbourne, but life is all about compromises, unless you are born with a silver spoon in your mouth, or have extreme talent, or rich parents.
Unfortunately I don't fall into any of the above categories and I don't buy lotto. ?

 

[MovingAverage]

It was a bit tongue in cheek,

i know it was

 

[sptrawler]

that is an unfair comparison , given various interventions , in home lending ( either subtle pressures put on banks by the regulators ) or incentives give to certain home-buyers

and what is doesn't show are buyers ( investors or intending home-owners ) who do not need to take out a mortgage

the other game i am aware of are owner-occupiers that intend to shift residence in say 5 years converting the property into a rental or a property for sale ( 'fixer-upper' )

In W.A I'm seeing a lot of investors getting out of RE, I'm guessing the moratorium on rents and evictions last year, showed how easily a seemingly safe investment can be turned to mush.
Also as you say, there is a lot of incentives both Federal and State being pumped into RE, add to that boomers who will be cashing in on the recent surge and downsizer incentives.
As you say, there are a lot of issues, that will be skewing the figures ATM.

 

[wayneL]

In W.A I'm seeing a lot of investors getting out of RE, I'm guessing the moratorium on rents and evictions last year, showed how easily a seemingly safe investment can be turned to mush.
Also as you say, there is a lot of incentives both Federal and State being pumped into RE

Extremely small sample size but of the two property investors that I have currently on my books both are underwater still after many years of ownership and desperate to get out.

for both of them that is not just the capital loss but the hassle of being a landlord, damages and all that sort of thing.

Mrs has 7 figures lobbing into her bank account in the very near future and after examining everything, traditional RE investing is the last thing she is interested in.

about the only in real estate we are interested in is a cave as far away from any government bureaucrat as possible

 

[divs4ever]

COFFEE WITH LYNETTE ZANG & MARTIN NORTH