The future of Australian property prices

[Smurf1976]

If you are in your twenties, Melbourne is the ultimate party town.Free Festivals wirh live bands over summer, (now) at different locations every weekend, Brunswick festival last week, St Kilda festival tomorrow. Moomba, comedy festival, many others.

Amazing live scene, clubs scene in the many lanes, theatre scene -way bigger than anywhere else in Australia.

Tennis, international tourists everywhere, Grand Prix, cricket, AussiecRules, Melbourne Cup. Huge crowds everywhere.

No doubting any of that.

I've always thought crowds were more lively, better atmosphere, at rock concerts in Sydney though and bands tend to play harder as a result.

Just an observation having travelled to see many gigs over the years and much the same happened two weeks ago. Friday 3rd in Melbourne and Saturday 4th in Sydney saw the same band play live. Sydney definitely had the more energetic crowd and I was up the front both times. Also weather - Melbourne was cold and drizzling outside, Sydney warm and sunny.

I can see arguments in favour of both of the big two cities and the others as well. For outdoor things in summer Adelaide has a definite advantage of being warm with minimal chance of rain. And not humid unlike Sydney.

On the issue of prices well I think variation between the states will be significant, any decline won't be universal, and in that regard Perth in particular has already had a substantial decline whilst having a reasonable economic base. It probably has less to lose from here going forward than do the other capitals.

 

[sptrawler]

I much prefer Adelaide, but I'm a small town guy.
Adelaide to me is like Perth, a great place to live but a bit boring to visit.
Sydney exactly opposite a $hit place to live IMO, but a great place to visit.
Everyone to their own.
Personally I would rather live in a quiet and reasonably priced place, earning great money and be able to visit anywhere.
Than be a wage slave on struggle street, in an expensive city, but have no money to do anything other than make ends meet.
Life choices, everyone makes them.

 

[farmerge]

@wayneL when people ask me what's Perth like, I say a great place to live, but you wouldnt want to visit, as boring as bat$hit as you would say.lol
With regard bushfires, we should be ok now that Scomo can give us his undivided attention and the East Coast doesnt need him for bushfire and flood mitigation. Lol
What a bunch of babies, now they have Lowe letting them down on interest rates, OMG what next.
Best move you ever did coming over here to the West.lol

Ah God's own country anything West of the SA/WA border and the big plus is a defunct Lib/Nat set up and a big and with magnificent mark in the wheelhouse in control for whatever time frame he wants.

 

[Warr87]

@wayneL when people ask me what's Perth like, I say a great place to live, but you wouldnt want to visit, as boring as bat$hit as you would say.lol
With regard bushfires, we should be ok now that Scomo can give us his undivided attention and the East Coast doesnt need him for bushfire and flood mitigation. Lol
What a bunch of babies, now they have Lowe letting them down on interest rates, OMG what next.
Best move you ever did coming over here to the West.lol

I lived in Perth for a little bit. I liked it. Great place IMO. Far more affordable to live as well. My complaint, though, is that its so far removed that it makes it difficult to come back to the East coast for a visit (family).

 

[sptrawler]

I lived in Perth for a little bit. I liked it. Great place IMO. Far more affordable to live as well. My complaint, though, is that its so far removed that it makes it difficult to come back to the East coast for a visit (family).

Yes but that is a blessing in a lot of ways, one you only go to see them when you want to and two the only ones who visit you, are the ones that really want to see you. ?
Works great unless you are the needy type. ?

 

[Warr87]

Yes but that is a blessing in a lot of ways, one you only go to see them when you want to and two the only ones who visit you, are the ones that really want to see you. ?
Works great unless you are the needy type. ?

hahaha yes! I agree. It can be a blessing if you like that removed presence. I am looking to go back soon to see friends, but it's the cost that has held me back a little. Flights post-covid got a little silly. Should be able to visit this year though and looking forward to it. It's a great lifestyle out there too if you like taking a boat out, beaches, or 4WD/camping.

I an a fan of Melbourne myself, and one of the rare few that also likes Canberra. Feel like my preferences put me in the minority around this place, hahaha.

 

[farmerge]

I lived in Perth for a little bit. I liked it. Great place IMO. Far more affordable to live as well. My complaint, though, is that its so far removed that it makes it difficult to come back to the East coast for a visit (family).

If choosing to travel back East, rather walking or riding a sweat machine, there has always been car, train and air to travel on.

 

[Smurf1976]

I an a fan of Melbourne myself, and one of the rare few that also likes Canberra.

Personally I don't mind Canberra.

A former colleague now lives and works there however and suffice to say they've told me a fair bit and it's fine on the living side but not encouraging on the working side.

 

[wayneL]

Many moons go when we were thinking of places to move to, we thought Canberra looked very good on paper.

We drove in and though underwhelmed initially, we thought we would give it a go for a few days.

The first night we went to a well regarded restaurant in "Civic". The first thing we noticed that almost all of the customers were dressed in white shirts and ties (and female equivalent thereof)

Throughout the night we were chatting and bantering with the waiter, as we usually do. As he came for our dessert order, he suddenly paused and said, you're not from around here are you?



It was precisely at that point that we decided that Canberra wasn't for us... LMAO

 

[farmerge]

Many moons go when we were thinking of places to move to, we thought Canberra looked very good on paper.

We drove in and though underwhelmed initially, we thought we would give it a go for a few days.

The first night we went to a well regarded restaurant in "Civic". The first thing we noticed that almost all of the customers were dressed in white shirts and ties (and female equivalent thereof)

Throughout the night we were chatting and bantering with the waiter, as we usually do. As he came for our dessert order, he suddenly paused and said, you're not from around here are you?



It was precisely at that point that we decided that Canberra wasn't for us... LMAO

Therein lies the answer Foreigners always stand out and sometimes out of place !!!!!!

 

[Warr87]

Many moons go when we were thinking of places to move to, we thought Canberra looked very good on paper.

We drove in and though underwhelmed initially, we thought we would give it a go for a few days.

The first night we went to a well regarded restaurant in "Civic". The first thing we noticed that almost all of the customers were dressed in white shirts and ties (and female equivalent thereof)

Throughout the night we were chatting and bantering with the waiter, as we usually do. As he came for our dessert order, he suddenly paused and said, you're not from around here are you?



It was precisely at that point that we decided that Canberra wasn't for us... LMAO

haha. I'm not sure I've noticed that (everyone in white shirts and ties), though it depends when you're walking around. Canberra is definitely a town full of gov workers, with a few defence, or firms supporting them. Good news is that you can live outside of the ACT border and can still get to work relatively quickly due to main roads. I know a few people who live about 45min away from the canberra centre in 'rural NSW' on a large property. They have their gov job but get to live with a lot of space.

It's not for everyone, but I don't think its that bad haha.

 

[qldfrog]

https://www.news.com.au/finance/economy/australian-economy/real-reason-australias-rental-crisis-is-out-of-control/news-story/d435a7940726955ddff197d5b55a2e02

The worst is that the (lower) quality of migrants we are attracting now will directly compete with our own in trouble renters.more nightmare and crime ahead.don't worry,you will get used to ghettos and crime.western Europe did.
Just be wise where you purchase ppor and investment properties

 

[farmerge]

https://www.news.com.au/finance/economy/australian-economy/real-reason-australias-rental-crisis-is-out-of-control/news-story/d435a7940726955ddff197d5b55a2e02

The worst is that the (lower) quality of migrants we are attracting now will directly compete with our own in trouble renters.more nightmare and crime ahead.don't worry,you will get used to ghettos and crime.western Europe did.
Just be wise where you purchase ppor and investment properties

We have in my lowly estimation exactly that happening just out of Midland. Hundreds of houses being built on a swampy couple of hundred acres. Perhaps in 50 or so years it will be a slum. Hardly a hand span between the houses.

 

[againsthegrain]

RBA all but confirms March rate rise as households struggle with record mortgage payments​

https://www.news.com.au/finance/economy/interest-rates/rba-all-but-confirms-march-rate-rise-as-households-struggle-with-record-mortgage-payments/news-story/fc7086f5ae2bd4599aad0e914f90cde8

 

[againsthegrain]

RBA all but confirms March rate rise as households struggle with record mortgage payments​

https://www.news.com.au/finance/economy/interest-rates/rba-all-but-confirms-march-rate-rise-as-households-struggle-with-record-mortgage-payments/news-story/fc7086f5ae2bd4599aad0e914f90cde8

The media and the public have been bashing Lowe lets just hope for their sake it doesn't back fire and they create a mini putin of banking who could have the last laugh ultimately ?

 

[Belli]

haha. I'm not sure I've noticed that (everyone in white shirts and ties), though it depends when you're walking around. Canberra is definitely a town full of gov workers, with a few defence, or firms supporting them. Good news is that you can live outside of the ACT border and can still get to work relatively quickly due to main roads. I know a few people who live about 45min away from the canberra centre in 'rural NSW' on a large property. They have their gov job but get to live with a lot of space.

It's not for everyone, but I don't think its that bad haha.

It isn't because that is where I live.

Many are surprised at the number of people in supporting industries such as trades and health. On the health side it is central to many who live at places such as Bega, Cooma and even Wagga Wagga, as Canberaa is where they attend for services not readily available in those areas. Heck, 25% of Orthopaedic patients attending Canberra Hospital come from outside the ACT. Same with maternity.

 

[sptrawler]

The joys of renting and not keeping up the maintenance.

Woman crushed while sleeping as ceiling of rental property collapses

A real estate agency and a Queensland landlord are in hot water after a woman was injured when the bedroom ceiling caved in as she slept.

au.news.yahoo.com

A woman says she’s now too afraid to sleep after the ceiling collapsed on her in the middle of the night in a rental property on the Gold Coast in a shocking case that has raised questions around the neglect and responsibility of landlords.
Since the incident in October, which left Ms Ware with head, neck and back injuries requiring pain medication and physiotherapy, the New Zealander says she’s suffered mentally.

“I’ve had terrible anxiety, nightmares, hypervigilance and sleeplessness,” she explained. “I’m constantly waiting for something else bad to happen.. I revisit that night every time I close my eyes.”

Tragically it’s not the first time a ceiling had collapsed in the property with an elderly relative narrowly missing being hit when the roof collapsed in another bedroom. Ms Ware’s sister said she had raised issues with the property manager around cracking and sagging in the ceilings at every inspection over the last “three or four years”, the Courier Mail reported.

“I kept contacting Ray White and asking them what was happening with it but they kept saying they were waiting for a response from the landlord,” she told the publication.

 

[Dona Ferentes]

The joys of renting and not keeping up the maintenance.

Woman crushed while sleeping as ceiling of rental property collapses

A real estate agency and a Queensland landlord are in hot water after a woman was injured when the bedroom ceiling caved in as she slept.

au.news.yahoo.com

A woman says she’s now too afraid to sleep after the ceiling collapsed on her in the middle of the night in a rental property on the Gold Coast in a shocking case that has raised questions around the neglect and responsibility of landlords.
Since the incident in October, which left Ms Ware with head, neck and back injuries requiring pain medication and physiotherapy, the New Zealander says she’s suffered mentally.

“I’ve had terrible anxiety, nightmares, hypervigilance and sleeplessness,” she explained. “I’m constantly waiting for something else bad to happen.. I revisit that night every time I close my eyes.”

Tragically it’s not the first time a ceiling had collapsed in the property with an elderly relative narrowly missing being hit when the roof collapsed in another bedroom. Ms Ware’s sister said she had raised issues with the property manager around cracking and sagging in the ceilings at every inspection over the last “three or four years”, the Courier Mail reported.

“I kept contacting Ray White and asking them what was happening with it but they kept saying they were waiting for a response from the landlord,” she told the publication.

There's lawyers for this!

 

[Warr87]

The joys of renting and not keeping up the maintenance.

Woman crushed while sleeping as ceiling of rental property collapses

A real estate agency and a Queensland landlord are in hot water after a woman was injured when the bedroom ceiling caved in as she slept.

au.news.yahoo.com

A woman says she’s now too afraid to sleep after the ceiling collapsed on her in the middle of the night in a rental property on the Gold Coast in a shocking case that has raised questions around the neglect and responsibility of landlords.
Since the incident in October, which left Ms Ware with head, neck and back injuries requiring pain medication and physiotherapy, the New Zealander says she’s suffered mentally.

“I’ve had terrible anxiety, nightmares, hypervigilance and sleeplessness,” she explained. “I’m constantly waiting for something else bad to happen.. I revisit that night every time I close my eyes.”

Tragically it’s not the first time a ceiling had collapsed in the property with an elderly relative narrowly missing being hit when the roof collapsed in another bedroom. Ms Ware’s sister said she had raised issues with the property manager around cracking and sagging in the ceilings at every inspection over the last “three or four years”, the Courier Mail reported.

“I kept contacting Ray White and asking them what was happening with it but they kept saying they were waiting for a response from the landlord,” she told the publication.

I'm no lawyer, but there would have to be a case of negligence there for the property manager and the landlord. It'd be a hard sell to say that you were unaware, or couldn't reasonable believe, that their was a risk to the occupants. If I was them, I'd be lawyering up ASAP. With years of neglect and no expense put into reasonable maintainence, at some point the risk is going to be actualised. Those at a company are held to those standards, so I can't see why landlords aren't. In fact, if the property is owned through a corporation and they are a director or officer of said company, they could be held liable under the corporations act i would think. but again, i'm no lawyer so who knows.

My parents live on the GC and have been at their property for about 10yrs now. Maintenance hasn't been done on the property either and the property managers complain if anything is reported. They get told 'can't you just fix it yourself' kinda stuff. So stories like these don't surprise me; what surprises me is that you don't hear more. Needless to say, if the LL or PM try to hassle my parents I'd be going over the tenancy act with a fine tooth comb. I get rather annoyed with investors who take on the asset but refuse to take on any risk or costs associated with having the asset. Baffles me, personally.

 

[sptrawler]

There's lawyers for this!

Can the owner claim it as a deduction?