The future of Australian property prices

[divs4ever]

i am surprised they aren't sneaking out now in dinghies , canoes and other small craft ( especially if they are crypto fans a couple of USB sticks can carry a lot )

there are hint's several super-rich have already retreated to their yachts and the open ocean

 

[qldfrog]

i am surprised they aren't sneaking out now in dinghies , canoes and other small craft ( especially if they are crypto fans a couple of USB sticks can carry a lot )

there are hint's several super-rich have already retreated to their yachts and the open ocean

Only the peons are stuck here, every uber person is jetting in and mostly out, i could probably tweak the system via my company too but not so easy for Frogette?

 

[divs4ever]

don't want to leave but would very happy if you took most of the state and federal parliament on a one way trip ( and confiscated their passports )

 

[qldfrog]

don't want to leave but would very happy if you took most of the state and federal parliament on a one way trip ( and confiscated their passports )

No thanks, not interested to carry the problem with me ?

 

[divs4ever]

you can always leave them along the way

 

[qldfrog]

you can always leave them along the way

mid air....

 

[divs4ever]

as long as the parachutes are NOT golden

 

[wayneL]

Since moving back to WA we got lucky to be able to rent an ideal property for a year, (at vast expense mind you).

I always thought that property may cool a bit but have been increasingly nervous that that I might have been wrong. We have a few things coming to fruition later this year so we are buying a property come what may... Have done sufficiently well in other stuff to compensate anyway.

But... I think starting to change? Easter cantillon effect starting to come to an end? Are people slowly starting to realise that this is insane?

Whadaya think?

 

[sptrawler]

W.A is always boom and bust, as it follows the mining employment, this time the house price run has been supported by the State and Federal housing handouts plus the FIFO's relocating here.
Once the mining boom is over and the interstate FIFO recommences, 100,000 people move back to Sydney/ Melbourne and Perth's property market dives again.
After the last mining boom, 60,000 people moved back over East. While the boom was on, Perth median price was higher than Sydney.
Wash, rinse, repeat.

 

[wayneL]

W.A is always boom and bust, as it follows the mining employment, this time the house price run has been supported by the State and Federal housing handouts plus the FIFO's relocating here.
Once the mining boom is over and the interstate FIFO recommences, 100,000 people move back to Sydney/ Melbourne and Perth's property market dives again.
After the last mining boom, 60,000 people moved back over East. While the boom was on, Perth median price was higher than Sydney.
Wash, rinse, repeat.

Quite a few of the client's I've picked up over here invested in the FOMO boom of the last decade. They say they are still under water (one of which is bro in law).

It still seems pretty damned expensive over here in my opinion. The house we are in is on the market for 1.7 million... A tad aspirational in my opinion, but still.

 

[sptrawler]

Quite a few of the client's I've picked up over here invested in the FOMO boom of the last decade. They say they are still under water (one of which is bro in law).

It still seems pretty damned expensive over here in my opinion. The house we are in is on the market for 1.7 million... A tad aspirational in my opinion, but still.

20 year old caravans are selling for what they were new, when people can fly again, they will be worth FA. It is what it is unfortunately, ATM isn't a great time to be buying in Perth, but it is a magic time to be selling a house or a caravan.
I'll put it another way, go for a drive from the top end of the freeway, down to Mandurah and come back up the coastal route, check out how many new land releases and houses are being built. There was a glut pre covid, IMO there will be a bigger glut, post covid.
Just my opinion.

 

[wayneL]

20 year old caravans are selling for what they were new, when people can fly again, they will be worth FA. It is what it is unfortunately, ATM isn't a great time to be buying in Perth, but it is a magic time to be selling a house or a caravan.
I'll put it another way, go for a drive from the top end of the freeway, down to Mandurah and come back up the coastal route, check out how many new land releases and houses are being built. There was a glut pre covid, IMO there will be a bigger glut, post covid.
Just my opinion.

Second hand cars are the same.

We picked up a 2003 defender 90 in April 2020... It is a great specimen and we paid 25 grand for it. It was a bit of nostalgia because Mrs grew up in Kenya and spent almost half her childhood in one of those damn things... I thought we have a paid but it was a bit of a nostalgia buy.... and **** it, we've done pretty well recently and you can't take the money with you. (IOW I had no choice in the matter LOL)

Just before we came over here we were offered 40K for it and most recently 50k.

WTF?

I'm pretty pleased with that but now misses think she's a hetrodox investing guru. LMAO

I want to flog it but of course she thinks it will go further. (And I don't think she would sell it anyway to be honest)

But I degress...

 

[sptrawler]

Second hand cars are the same.

We picked up a 2003 defender 90 in April 2020... It is a great specimen and we paid 25 grand for it. It was a bit of nostalgia because Mrs grew up in Kenya and spent almost half her childhood in one of those damn things... I thought we have a paid but it was a bit of a nostalgia buy.... and **** it, we've done pretty well recently and you can't take the money with you. (IOW I had no choice in the matter LOL)

Just before we came over here we were offered 40K for it and most recently 50k.

WTF?

I'm pretty pleased with that but now misses think she's a hetrodox investing guru. LMAO

I want to flog it but of course she thinks it will go further. (And I don't think she would sell it anyway to be honest)

But I degress...

Absolutely, a mate had a 9 year old Turbo Falcon really low K's, a year ago couldn't get $20k for it, sold it to a Ford dealership recently for well over $30k. Go figure.
It isn't the first time I've seen house prices do this in W.A and I'm sure it won't be the last, as long as I don't pop off in the next 10 years.

 

[Humid]

Absolutely, a mate had a 9 year old Turbo Falcon really low K's, a year ago couldn't get $20k for it, sold it to a Ford dealership recently for well over $30k. Go figure.
It isn't the first time I've seen house prices do this in W.A and I'm sure it won't be the last, as long as I don't pop off in the next 10 years.

If he could get 30k from a dealership he traded it or is stupid

 

[sptrawler]

If he could get 30k from a dealership he traded it

Not really, he just didn't use it and he tried selling it several times over the past few years, but there were only tyre kickers looking.
So last month he went to the dealership, said what will you give me, they said $x and he said magic.
The same guy when we were working together in 2009, came to work one night and said I've been offered $1.2m for my block of land what do you reckon, I said sell it.
Long story short he sold it and retired at the same time, he was 55, now the same block would be worth with the current boom about $800k.
So he ain't stupid.

 

[divs4ever]

Not really, he just didn't use it and he tried selling it several times over the past few years, but there were only tyre kickers looking.
So last month he went to the dealership, said what will you give me, they said $x and he said magic.
The same guy when we were working together in 2009, came to work one night and said I've been offered $1.2m for my block of land what do you reckon, I said sell it.
Long story short he sold it and retired at the same time, he was 55, now the same block would be worth with the current boom about $800k.
So he ain't stupid.

i would suggest $1.2mill isn't enough to retire on , if my prediction of inflation is correct

HOWEVER that nest egg is a great base to invest from

a little bit of learning and thinking now , it all might work out very well for him

 

[Humid]

Not really, he just didn't use it and he tried selling it several times over the past few years, but there were only tyre kickers looking.
So last month he went to the dealership, said what will you give me, they said $x and he said magic.
The same guy when we were working together in 2009, came to work one night and said I've been offered $1.2m for my block of land what do you reckon, I said sell it.
Long story short he sold it and retired at the same time, he was 55, now the same block would be worth with the current boom about $800k.
So he ain't stupid.

So you think the dealership are selling it for 30k
They need 40k to break even

 

[sptrawler]

i would suggest $1.2mill isn't enough to retire on , if my prediction of inflation is correct

HOWEVER that nest egg is a great base to invest from

a little bit of learning and thinking now , it all might work out very well for him

I would agree, but in 2009 you were getting 5 year 10% term deposits and he still doesn't qualify for any pension and isn't looking like he ever will.
The World has changed since then and $1m isn't what it was back then, but no one lives forever.

 

[Humid]

Not really, he just didn't use it and he tried selling it several times over the past few years, but there were only tyre kickers looking.
So last month he went to the dealership, said what will you give me, they said $x and he said magic.
The same guy when we were working together in 2009, came to work one night and said I've been offered $1.2m for my block of land what do you reckon, I said sell it.
Long story short he sold it and retired at the same time, he was 55, now the same block would be worth with the current boom about $800k.
So he ain't stupid.

So in 12 years the block went backwards $400k ......tell me more

 

[sptrawler]

So you think the dealership are selling it for 30k
They need 40k to break even

Well if you want I will PM you where it is and you can buy it, my mate was happy with the money he got. getting 60% return on a car after 9 years isn't bad IMO.
When the new speed limiting rules come in, it will be worth Jack $hit IMO.