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Sydney and Melboune are the Meccas for most immigrants, until they wake up that there is other places in the country far better to be in !!!!!
The future of Australian property prices
- Thread starter Joe Blow
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So let's summarise, increase demand by half a million a year, increase new building cost by 15% with new red tape ( A new building code starting this week..) and expecting to reduce housing crisis by slamming landlords as they call ip owners and increasing renters and squatters rights.
If the RE market collapses, expect increased rents. And slums living conditions.yep sounds impossible isn't it until you actually think
If the RE market collapses, expect increased rents. And slums living conditions.yep sounds impossible isn't it until you actually think
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New housing/construction numbers will collapse (already happening/happened). It's hard to see prices for existing homes falling much at all though, given all of those factors!
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We have a semi retired home builder not far from us. Still builds a few homes each year and is not shy on setting his profit margin.
Given the number of home building firms which have gone down the toilet recently that is not at all surprising.
Supply and demand. Talking to my mechanic and he is the same. There's a years wait on buying a new car so people are repairing what they have. Even parts are getting hard to come by.
There's three big issues hitting at once:
*Supply chain breakdown.
* Number of workers available.
*Change in workers attitudes ( no one wants to do anything).
Then we are at the cusp of a new age as AI gets going.
But for now physical skill based work is at a premium. Nobody seems to want to do it though.
A lot of builders are over 90 days on debt to subcontractors. There's a lot more pain to come.
wayneL
VIVA LA LIBERTAD, CARAJO!
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Whenever a younger person has been silly enough to seek out my advice, I always suggested allowing for the possibility of 6-8% mortgage rates at the very least.
Always ignored BTW.
A least No1 nephew had the balls to admit recently that I was right.
Always ignored BTW.
A least No1 nephew had the balls to admit recently that I was right.
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From a couple of supply companies that I deal with for my contracting business availalble workers and supply are the big thing. Getting truck drivers who are competent to drive is one which also has a downer on supply.
Is the government money with fringe benefits too good and then the "Andy Capp" syndrome takes over.
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I think that the small family building companies are the ones that will survive. Overheads and anything else that can destroy the big companies are a lot less.Given the number of home building firms which have gone down the toilet recently that is not at all surprising.
Currently i am working for a small family building firm. Not suffering financial hardship, only taking on what they can achieve and not promising unobtainable finish times.
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But they suffer economy of scale and will be harshly done by the banks..not a given they will survive.
Heard a story yesterday where a big reno job ending being done now by the builder himself ,alone..well past deadlines and kuddos to the guy working 12h day all week and weekend to respect the contract and not go bankrupt..yet not efficient, at risk of accident, illness and not good for either customer or burnt out builder
This is being replicated through all the trades. No one wants the hassle of workers past a certain age.
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moXJO and then is what i do. Can be hard and strenuous work at times. I am in mid-70s and do what I do because I enjoy it and the main thing, not too many want to do this kind of agricutural work.
Dirty hands, cuts and blisters, and a few other bits and bobs to complete a days work.
Just spent two very hard days top dressing on some pretty ordinary paddocks, but the coin at the end more than makes up for the discomfort of an occassional head hitting the tractor cab roof.
Dirty hands, cuts and blisters, and a few other bits and bobs to complete a days work.
Just spent two very hard days top dressing on some pretty ordinary paddocks, but the coin at the end more than makes up for the discomfort of an occassional head hitting the tractor cab roof.
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Looks like the ponzi is alive and well and maybe the baby boomers are getting priced out of the market? Can't wait for the injection of new money from immigrants coming in. ?
Let's get it on. ?
www.smh.com.au
A young couple dropped $5.75 million on a four-bedroom, fixer-upper in Coogee, just a short walk from Coogee Beach.
They were one of four buyers – all young home owners – registered to bid on the tightly held home at 8 Arcadia Street, which was initially guided at $4.6 million but revised up to $5 million after a pre-auction offer of the same amount.
The latest rate rise did not seem to faze buyers on Saturday.
The NSW government sold eight empty blocks of land in Grantham Farm, previously a part of Riverstone 36 kilometres north-west of Sydney’s CBD. They sold for a total of $5,201,000 to a mix of small-scale builders.
Lot 122 at the corner of Sydney Street and Junction Road fetched the highest price at $794,000. The reserve was $770,000. The cheapest block sold for $591,000 – above the $575,000 reserve – at lot 123.
Let's get it on. ?
Young couple drop $5.75 million on Coogee fixer-upper
The run-down home, with much of the original features intact, was on the market for the first time in 43 years. It last sold in 1980 for $160,000.
A young couple dropped $5.75 million on a four-bedroom, fixer-upper in Coogee, just a short walk from Coogee Beach.
They were one of four buyers – all young home owners – registered to bid on the tightly held home at 8 Arcadia Street, which was initially guided at $4.6 million but revised up to $5 million after a pre-auction offer of the same amount.
The latest rate rise did not seem to faze buyers on Saturday.
The NSW government sold eight empty blocks of land in Grantham Farm, previously a part of Riverstone 36 kilometres north-west of Sydney’s CBD. They sold for a total of $5,201,000 to a mix of small-scale builders.
Lot 122 at the corner of Sydney Street and Junction Road fetched the highest price at $794,000. The reserve was $770,000. The cheapest block sold for $591,000 – above the $575,000 reserve – at lot 123.
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'relative wealth' ( spending power adjusted for real inflation NOT CPI ) would be an interesting stat after all most new 'modern' stuff is made with built-in obsolescenceyep because Australian wealth has didminshed over the past 30 years, as can be seen by comentators like you
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and obviously no cares about Tasmania ( again )Looks like the ponzi is alive and well and maybe the baby boomers are getting priced out of the market? Can't wait for the injection of new money from immigrants coming in. ?
Let's get it on. ?
Young couple drop $5.75 million on Coogee fixer-upper
The run-down home, with much of the original features intact, was on the market for the first time in 43 years. It last sold in 1980 for $160,000.
A young couple dropped $5.75 million on a four-bedroom, fixer-upper in Coogee, just a short walk from Coogee Beach.
They were one of four buyers – all young home owners – registered to bid on the tightly held home at 8 Arcadia Street, which was initially guided at $4.6 million but revised up to $5 million after a pre-auction offer of the same amount.
The latest rate rise did not seem to faze buyers on Saturday.
The NSW government sold eight empty blocks of land in Grantham Farm, previously a part of Riverstone 36 kilometres north-west of Sydney’s CBD. They sold for a total of $5,201,000 to a mix of small-scale builders.
Lot 122 at the corner of Sydney Street and Junction Road fetched the highest price at $794,000. The reserve was $770,000. The cheapest block sold for $591,000 – above the $575,000 reserve – at lot 123.
View attachment 156708
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Secret State. When the AFL team gets up watch out. Boom times.
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For some laughs and controversy, I wonder if the AFL team and the Nude Swim could be run as a combined event?
