The future of Australian property prices

[MACCA350]

hello,

what you mean, my posts are full of substance, show me one thats not

yes, sorry back in Mornington next week so it will be on man, new cafe at the village isnt there

thankyou
robots

This one for starters perhaps:

cheers

 

[Dowdy]

hello,

what you mean, my posts are full of substance, show me one thats not

yes, sorry back in Mornington next week so it will be on man, new cafe at the village isnt there

thankyou
robots

Try these 2 for starters.

hello,

gee, whats happening?

oh well everybody must be consumed with other things

thankyou
robots

hello,

oops,

sorry, dinner and neighbours

thankyou
robots

1/3 of your post are praising other members on their post, 1/3 is telling everyone it's Sunshine and lollipops and how great Australia is and the other 1/3 is you talking about your mediocre adventures - having coffee, retail outlets etc etc

 

[robots]

hello,

oh come on,

gee what a day now in melbourne with the temperature heating up, grab a 5x weekend ticket and hit the trains

any predictions on the clearance rate this weekend, post them up,

thankyou
robots

 

[satanoperca]

hello,

oh come on,

gee what a day now in melbourne with the temperature heating up, grab a 5x weekend ticket and hit the trains

any predictions on the clearance rate this weekend, post them up,

thankyou
robots

I agree, it is a magnificent day in Melbourne, just returning from Jnr Soccer.

Clearance rate will be less than last week, that is my prediction, however sunshine makes people do silly things, so who knows.

Cheers

 

[nunthewiser]

Bucketting Down in Geraldton today ......

Makes it hard to do anything on the block.

Great day for Bourbon and countermeals later.

The real estate listings section of the local paper sure getting a lot thicker these days .. in fact nearly twice as thick as 6 months ago....Quite a few properties sitting stagnant on the market up here over the last 6 months/year.

But yes a countermeal sounds like a great idea whilst i ponder how to create a kick ass BMX track for the young bloke and his seedy feral friends.

 

[satanoperca]

Ah, something with some substance to debate about the future of Australian house prices.

http://www.scribd.com/doc/29520921/How-to-Profit-From-the-Coming-Aussie-Property-Crash-and-Banking-Crisis

In his book, Prof. Garnaut stridently argues against the typical hype surrounding our housing market. 1. He is unequivocal in his view that Australian house prices have been driven primarily by speculation; and
2. Garnaut is skeptical that there is any actual shortage of housing

From Glen - RBA :

“ 16 How is it that in a country this big in area and this small in numbers of
people we can't manage to make the marginal price of a dwelling lower
than it is? It seems to me quite high.

Just another side of the story. Some statements correct, some stretch the truth.

Some fishing looks on the cards today.

Cheers

 

[MACCA350]

hello,
gee what a day now in melbourne with the temperature heating up

After the cold morning it's turned out quite nice

any predictions on the clearance rate this weekend, post them up,

UBIQUITOUS is predicting 73%

A friend of a friend knows Enzo quite well. Anyway, to cut a long story short, the final draft of tomorrow's REIV clearance rate report states that the rate will be down to 73%.

You heard it here first.

One question, How would they know what the report states when it's based on auctions that hadn't taken place yet

cheers

 

[medicowallet]

1/3 of your post are praising other members on their post, 1/3 is telling everyone it's Sunshine and lollipops and how great Australia is and the other 1/3 is you talking about your mediocre adventures - having coffee, retail outlets etc etc

I am only new, but at least it seems he is consistent.

It seems he is a property bull, and proud to be so! I find the posts funny, and it is nice to have a light hearted side to somewhat polarising posts.

 

[robots]

hello,

going to be a huge night on ASF i reckon based on my adventures today,

went passed 2, both passed in, and an open for inspection where agent was standing out the front constantly

my estimate is under 70%, just all good news for the wider community though as the RBA will be delighted with its efforts,

great outing to the city, there is a guy running a marathon in the city square as part of the Next Wave Festival:

http://2010.nextwave.org.au/festival/projects/102-fun-run

massive dance tracks getting pumped out all afternoon. goes til around 6.30pm

thankyou
robots

 

[robots]

hello,

good evening all, i thought long and hard today when i went out and will try to improve my substance in posts,

OH YEAH:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=1226&nav2=162

a fantastic effort 75%, just amazing, the week when GFC2 hit the world, the double dip recession, the end of the world, unemployment to hit 5000%, Interest rates to 0%

mass lines at the local CBA, soup kitchen at the church, Marc Faber giving us usual false prophecies

well done to Enzo getting the data together

thankyou
professor robots

 

[So_Cynical]

hello,

good evening all, i thought long and hard today when i went out and will try to improve my substance in posts,

OH YEAH:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=1226&nav2=162

a fantastic effort 75%, just amazing, the week when GFC2 hit the world, the double dip recession, the end of the world, unemployment to hit 5000%, Interest rates to 0%

mass lines at the local CBA, soup kitchen at the church, Marc Faber giving us usual false prophecies

well done to Enzo getting the data together

thankyou
professor robots

Following the link to look at the results and interested in bargains .. couldn't help but notice in the TOP 5 BARGAIN HOUSES list.

• 1. 55 Daisy Street, Essendon $245,000
• 2. 25 Olive Road, Eumemmerring $291,500
• 3. 9 Windoo Street, Frankston North $300,000
• 4. 18 Crossley Crescent, Coolaroo $330,000
• 5. 14 Sunlander Way, Doreen $335,000

realestate .com has it as "Price Guide: $880,000 - $950,000" is it a simple typo ? i would of though Enzo or someone there would of picked up on something as obvious a blunder as that...or am i missing something??

http://www.realestate.com.au/property-house-vic-essendon-106486549

 

[UBIQUITOUS]

..and the carnage continues.

Last Saturday's REIV reported clearance rate - 76.06%
Today's REIV reported clearance rate - 74.57%

It's funny how the rounding up and down masks what is really going on.

Anyways, has anybody seen anything like this? It looks like those who asked for auctions a few weeks ago are finally getting their day. I would expect next month's figures to be even more shocking.

Vendors will have plenty of opportunity and choice in the next two weekends with just over 1860 auctions scheduled, an unprecedented number for this time of the year.

Opportunity for vendors? Don't you mean 'buyers'? Hahaha. Looks like Enzo is so under pressure, he's spun himself into a knot.

 

[UBIQUITOUS]

i would of though Enzo or someone there would of picked up on something as obvious a blunder as that...or am i missing something??

As I just wrote SC, Enzo is under severe pressure to keep on spinning. Each week, expect to find more and more 'mistakes'. Of course, it's not his fault, it's the RE agents who 'accidentally' supply the wrong figures. The Melbourne RE market is suffering badly. Pity anybody who believes these figures and goes and buys a unit based on them.

 

[Dowdy]

hello,

good evening all, i thought long and hard today when i went out and will try to improve my substance in posts,

OH YEAH:

http://www.reiv.com.au/home/inside.asp?ID=162&nav1=1226&nav2=162

a fantastic effort 75%, just amazing, the week when GFC2 hit the world, the double dip recession, the end of the world, unemployment to hit 5000%, Interest rates to 0%

mass lines at the local CBA, soup kitchen at the church, Marc Faber giving us usual false prophecies

well done to Enzo getting the data together

thankyou
professor robots

75%. Down on last week but I never pay too much attention to that on a week to week basis. Look at it on a month to month basis for a more accurate indication on the housing market.

As with Faber's predictions, earlier this year he said the AUD/USD dollar would peak around April/May and have a look on how that prediction is going - nearly 10c down in 2 weeks! You should listen to him more/once if you actually want to have a go at the guy

Also, you're not a professor. Remember how that ended up last time - you got banned for a few months

 

[MACCA350]

As I just wrote SC, Enzo is under severe pressure to keep on spinning. Each week, expect to find more and more 'mistakes'. Of course, it's not his fault, it's the RE agents who 'accidentally' supply the wrong figures. The Melbourne RE market is suffering badly. Pity anybody who believes these figures and goes and buys a unit based on them.

No doubt. Here's a few in this weeks report:

There were 704 auctions reported today, of which 525 sold

S Sold at Auction: 431
SB Sold before Auction: 192
SA Sold after Auction: 2
TOTAL SOLD = 625.........which would put the calculated clearance rate at 88.78%

Last weekend: 703
Actually reported last weekend and showing on the website as late as this afternoon = 701

With mistakes like that, and the many more I've found over the last year, I wonder whether the whole report and stated clearance rates are just a complete fudge. I mean for a report to be respected the numbers contained within it should at least compute.............don't tell me..........fat fingers right

cheers

 

[robots]

hello,

what Faber has actually called something, amazing 20000 predictions in the newletters, get one

oh well, another great day, hows the bmx track coming along Nunthewiser? photos?

thankyou
professor robots

 

[nunthewiser]

But yes a countermeal sounds like a great idea whilst i ponder how to create a kick ass BMX track for the young bloke and his seedy feral friends.

hello,


oh well, another great day, hows the bmx track coming along Nunthewiser? photos?

thankyou
professor robots

You want photo,s of me eating and pondering ?

 

[robots]

hello,

yes,

oh well good night brothers, pleasant dreams

cant wait to see the sun in the morning

thankyou
professor robots

 

[cutz]

yes Robots....the other posters dont get it either....charts I saw earlier this year show the average debt on housing is below 30% of the value, on average it was 20%....so its 70-80% equity....or an asset for those who dont understand

Hi kincella,

Appreciate it if you can throw up those charts for curiosities sake, averages can be manipulated to whatever you like. For instance, as an average, what does the total population of Australia owe per person on housing ?? Not much at all.

If anyone is interested, search” HOUSEHOLD DEBT 2009” on the ABS site, makes for interesting reading.

BTW watch out for those outliers.

 

[UBIQUITOUS]

With mistakes like that, and the many more I've found over the last year, I wonder whether the whole report and stated clearance rates are just a complete fudge. I mean for a report to be respected the numbers contained within it should at least compute.............don't tell me..........fat fingers right

cheers

Macca, what will happen is that last week's clearance rates will be revised downwards. However, this will not happen until the the data becomes old and people are no longer looking at this information. It's the same old trick over and over again.

As time passes, the illusion becomes harder to maintain especially when more and more people question those figures.