The future of Australian property prices

[dyna]

Yeah I've had copper pipe develop a pin sized hole and it was near- new pipe, too!
The PLV at the mains didn't save me that time, either. Must have been the crap ( chinese ? ) copper.
Better turn off the mains every time I leave the damned joint now , to be sure , to be sure.

By the way , I think Flexi hose only has a 10 year "guarantee" in any case. Hadn't thought of that.

 

[qldfrog]

Yeah I've had copper pipe develop a pin sized hole and it was near- new pipe, too!
The PLV at the mains didn't save me that time, either. Must have been the crap ( chinese ? ) copper.
Better turn of the mains every time I leave the damned joint, to be sure , to be sure.

By the way , I think Flexi hose only has a 10 year "guarantee" in any case. Hadn't thought of that.

if I remember well last time I installed one, you had a label you could not miss saying replace every 10y..I assume worth complying especially for hot water ...

 

[qldfrog]

back to property price, I know I do not live in the most cookie cutter part of Oz and we have a lot of cash payers but i have the feeling price of new high end properties are coming up again and reaching 22 tops; anything above 2m is 2.5m..and even dumps places imho are getting the 1.5m when over 10 acres...
remember we are 2h drive from good job concentrations, so these are not white collar purchases by engineers or PM/corporate suits

 

[orr]

How's the old saying go?.... ten years in the future what happens in the States happens here...
From the NYT

'Published March 23, 2023Updated March 25, 2023
3 MIN READ
Millionaire home sellers are slashing prices and sweetening deals this week in Los Angeles, eager to move their properties off the market before a new real estate tax aimed squarely at the rich goes into effect on April 1.
In November, Los Angeles voters backed Measure ULA, a transfer tax on big-ticket property sales that the city says will generate a new revenue stream for affordable housing projects and homelessness prevention. Known colloquially as the “mansion tax,” Measure ULA will impose a 4 percent tax on property sales above $5 million, and a 5.5 percent tax on properties above the $10 million mark.'

my bolds.... and lets all hope a little sooner...

 

[wayneL]

How's the old saying go?.... ten years in the future what happens in the States happens here...
From the NYT

'Published March 23, 2023Updated March 25, 2023
3 MIN READ
Millionaire home sellers are slashing prices and sweetening deals this week in Los Angeles, eager to move their properties off the market before a new real estate tax aimed squarely at the rich goes into effect on April 1.
In November, Los Angeles voters backed Measure ULA, a transfer tax on big-ticket property sales that the city says will generate a new revenue stream for affordable housing projects and homelessness prevention. Known colloquially as the “mansion tax,” Measure ULA will impose a 4 percent tax on property sales above $5 million, and a 5.5 percent tax on properties above the $10 million mark.'

my bolds.... and lets all hope a little sooner...

A Jealousy tax eh?

 

[orr]

In the miserable distopic exsistance you inhabit Aynel; no doubt you'd see it that way.
but as 'one' looks out on the water view at the at the hundreds of million$ lining onlong the opposing peninsular the adjective I'd use would be Empathy. eh?

 

[finicky]

I empathise with the millionaires

 

[qldfrog]

I empathise with the millionaires

View attachment 155017

I would bet absolutely anything that 90% of the people on this forum will be classed as "rich" and taxed /punished accordingly within 20y by the creeping socialism taking this country over..
do not rejoice too much, the riches are just anyone richer than 51% of the others..this is the way communism/pseudo democracies works, always...
Sadly many, as I am now will be tied and will be unable to flee: family, work, liquidity if not law preventing you to..

 

[finicky]

I got a taste of what it's like for the minor rich through my tax bill this year - 74 grand.
This was because I liquidated a major chunk of my performing shares in preparation for the crash - a very atypical year for me. Then I bought a new car by force, V.W electrics went at 46kms, and paid stamp duty and GST of around $3,500. They GST'd the dealer delivery and the stamp duty, a tax on a tax.
The push is on anew to remove franking credits and neg gearing could be a target again with 'Labor' in control everywhere. Unbelievable that Labor was returned in NSW, QLD and even Vic after what the premiers did to their populaces over Covid and Vax. I feel alienated from the Australian political mind, do they like being flogged?

 

[qldfrog]

I got a taste of what it's like for the minor rich through my tax bill this year - 74 grand.
This was because I liquidated a major chunk of my performing shares in preparation for the crash - a very atypical year for me. Then I bought a new car by force, V.W electrics went at 46kms, and paid stamp duty and GST of around $3,500. They GST'd the dealer delivery and the stamp duty, a tax on a tax.
The push is on anew to remove franking credits and neg gearing could be a target again with 'Labor' in control everywhere. Unbelievable that Labor was returned in NSW, QLD and even Vic after what the premiers did to their populaces over Covid and Vax. I feel alienated from the Australian political mind, do they like being flogged?

sadly, I feel the same, and by being a "new" Ozzie, I am feeling more easily removed from these sheeples, and under no allegiance anymore..I gave far too much receiving not that much, the feeling started after with covid travel bans throwing me out of work and the demonstration of such a narrow minded idiotic majority.Adding Victoria especially election result , the coming willingness to vote apartheid laws and people got what they deserve
Do not take me wrong, not better in birth country, but I thought it was better here..mateship etc
RE:
Still waiting for the sellers to sign the contract for our purchase of the new (overpriced) house..
if this collapses, might be the drop too much enabling me to convince my better half to buy a cheap base here and piss off overseas before we are too old

 

[rcw1]

sadly, I feel the same, and by being a "new" Ozzie, I am feeling more easily removed from these sheeples, and under no allegiance anymore..I gave far too much receiving not that much, the feeling started after with covid travel bans throwing me out of work and the demonstration of such a narrow minded idiotic majority.Adding Victoria especially election result , the coming willingness to vote apartheid laws and people got what they deserve
Do not take me wrong, not better in birth country, but I thought it was better here..mateship etc
RE:
Still waiting for the sellers to sign the contract for our purchase of the new (overpriced) house..
if this collapses, might be the drop too much enabling me to convince my better half to buy a cheap base here and piss off overseas before we are too old

Good evening qldfrog
There are still afew around that rcw1 would enter a field of battle with, sadly too few a number these days...
Hope the sellers sign off for ya, if not just let me know and will 'send the boys around' ha ha ha ha ha

Have a pleasant evening

Kind regards
rcw1

 

[qldfrog]

Good evening qldfrog
There are still afew around that rcw1 would enter a field of battle with, sadly too few a number these days...
Hope the sellers sign off for ya, if not just let me know and will 'send the boys around' ha ha ha ha ha

Have a pleasant evening

Kind regards
rcw1

There are indeed quite a few but mostly in the 40y + band and or resulting from a different education/youth from the mainstream; rural people, asian backgrounds, etc etc
but whole generation of suburbanites are just no hope anyway, probably what every generation says from the younger one but slightly different now imho;
This has actually impacts on the RE market: uniformity of taste, inability to do serious reno or and understand level of issues: just cosmetic or not, etc
Plus if you have no mate to give you a hand to do that shed slab, this is not the same cost..for you or them when the time comes
Which means people jumping on trends and giving up on good bones but work required..which I hope to turn tomy advantage especially if that contract falls apart and we target a smaller price range

 

[Belli]

This does not forebode well.

"A large Victorian-based home builder with more than 400 employees is teetering on the edge leaving dozens of subcontractors unpaid and potentially hundreds of aspiring homeowners in limbo.

Subcontractors working for Porter Davis Homes say they haven’t been paid for work done on the volume builder’s projects, leading to concerns the company is sliding towards administration."

Building industry ‘on the brink’ after two groups collapse in 24 hours

The collapse of home builder Porter Davis and civil construction group Lloyds Group has ignited fears the building industry is headed for economic crisis.

www.theage.com.au

 

[Knobby22]

This does not forebode well.

"A large Victorian-based home builder with more than 400 employees is teetering on the edge leaving dozens of subcontractors unpaid and potentially hundreds of aspiring homeowners in limbo.

Subcontractors working for Porter Davis Homes say they haven’t been paid for work done on the volume builder’s projects, leading to concerns the company is sliding towards administration."

Building industry ‘on the brink’ after two groups collapse in 24 hours

The collapse of home builder Porter Davis and civil construction group Lloyds Group has ignited fears the building industry is headed for economic crisis.

www.theage.com.au

Yes, i was a little bit surprised. This group appeared highly successful.

 

[InsvestoBoy]

Building industry ‘on the brink’ after two groups collapse in 24 hours

The collapse of home builder Porter Davis and civil construction group Lloyds Group has ignited fears the building industry is headed for economic crisis.

www.theage.com.au

Quote of the week goes to John Goddad from Subbies United

“They’re another box-builder basket case.”

 

[Belli]

"A large Victorian-based home builder with more than 400 employees is teetering on the edge leaving dozens of subcontractors unpaid and potentially hundreds of aspiring homeowners in limbo.

Subcontractors working for Porter Davis Homes say they haven’t been paid for work done on the volume builder’s projects, leading to concerns the company is sliding towards administration."

Well dammit, if they can do it, so can we.

"A large construction firm specialising in building schools and other government infrastructure is in administration, the second firm within 24 hours to collapse as mounting pressures in Australia’s building industry reach a crisis point.

Civil design and building firm Lloyd Group, which has 59 projects under way and 200 staff, was placed into voluntary administration with Deloitte on Friday morning"

School builder Lloyd Group slumps into administration, dozens of projects affected

Civil design and building firm Lloyd Group has been placed into voluntary administration, the second construction company to collapse in 24 hours.

www.theage.com.au

 

[moXJO]

Big builders are struggling to get tradies to work for them. Years ago they would pay you sht money that would barely cover workers wages. However the builder would charge top dollar for what the subbies did. You could survive on the low pay before, but not now.

Plus builders are rip-off merchants. Majority will delay payment by 60-90 days if they get the chance. Most of the guys I know are saying "Not working for them again".
Then you have the delays on-site due to tradie shortages, material and too many builds. Stuff is blowing out two years. Also the architects are knocking up dodgy designs so builders then get caught up wasting more time fixing stuff.

Now all these Tradies have increased costs. Wages being one of them. You pay usually up to $50per hour for the better skilled employees. And honestly that's not that much considering you are breaking your body by the time you're 40.
A lot of guys are moving into easier industries. A lot of companies are also down by 50% of "on the tools" tradies.
I've noticed a huge drop in technical know how.

 

[qldfrog]

Fwiw, we just settled the sale of our coastal unit within 10% of peak.and 1 year on market.
And signed a contract on a new ppor yesterday after the collapse of a verbal agreement on a different place the week before.
The market is not dead...but indeed cooler with more bargaining possible.
Related but not in main thread, how do you ensure you are safe as a buyer when purchasing cash:
What if the conveyancing clerk run with the lot before settlement?
Feel free to pm?

 

[rcw1]

Fwiw, we just settled the sale of our coastal unit within 10% of peak.and 1 year on market.
And signed a contract on a new ppor yesterday after the collapse of a verbal agreement on a different place the week before.
The market is not dead...but indeed cooler with more bargaining possible.
Related but not in main thread, how do you ensure you are safe as a buyer when purchasing cash:
What if the conveyancing clerk run with the lot before settlement?
Feel free to pm?

great news then, for the qldfrog. Pardon rcw1 ignorance, may I be so bold as to inquire what Fwiw means please?

Kind regards
rcw1

 

[wayneL]

great news then, for the qldfrog. Pardon rcw1 ignorance, may I be so bold as to inquire what Fwiw means please?

Kind regards
rcw1

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