The future of Australian property prices

[farmerge]

Even derelict dumps between the foreshore and the forum are selling in days, a mate who is a RE agent says most are Eastern States buyers, picking them up sight unseen.
Another friend sold his place, the Victorian buyer asked for an inspection, which was done.
When the buyer asked for things remedied, my mate said get stuffed and they bought it anyway.

Well it was a Victorian he was replying to.
It's either them or US.

 

[wayneL]

@wayneL These aren't your average 1st home buyers looking at our end of the work, on the flats or in the Hills.
They know that our properties will be worth a lot more in 10-15 years then they too can kill the pig.

Compared to equivalent properties on the eastern seaboard, IMO they are still extraordinarily cheap (relatively).

The Ponderosa is only about 25km from the city. Not that I have any desire to go to the sh1thole commonly known at Perth, but for someone working some narcissistic role in the CBD and still wanting an expensive nag for the silicone enhanced trophy wife and a pony for the ADHD medicated daughter, it's inexpensive as.

 

[sptrawler]

Compared to equivalent properties on the eastern seaboard, IMO they are still extraordinarily cheap (relatively).

The Ponderosa is only about 25km from the city. Not that I have any desire to go to the sh1thole commonly known at Perth, but for someone working some narcissistic role in the CBD and still wanting an expensive nag for the silicone enhanced trophy wife and a pony for the ADHD medicated daughter, it's inexpensive as.

The prices are probably about right, it is just the prices over East are stupid, to try and take ours up to that level is in no ones best interest IMO.
I hope these investors crash and burn personally, all it is doing is driving the middle class into poverty.
In the end all the workers will be trying to get on disability, get the partner as a carer and put the kids on the NDIS then apply for social housing.

 

[wayneL]

The prices are probably about right, it is just the prices over East are stupid, to try and take ours up to that level is in no ones best interest IMO.
I hope these investors crash and burn personally, all it is doing is driving the middle class into poverty.

Well, just over in the far flung, drug and indigenous/migrant infested mortgage belt suburb of Ellenbrook, half decent piles are 750k and selling like hot cross buns. (And further from the CBD than us)

So I'm sticking to the thesis that the Swan Valley is extraordinarily cheap (relatively)

 

[wayneL]

(relatively)

Please note that what we might call intrinsic value, may be at odds with "market value".

 

[TimeISmoney]

The prices are probably about right, it is just the prices over East are stupid, to try and take ours up to that level is in no ones best interest IMO.
I hope these investors crash and burn personally, all it is doing is driving the middle class into poverty.
In the end all the workers will be trying to get on disability, get the partner as a carer and put the kids on the NDIS then apply for social housing.

They can't afford anything on the east coast any more, Perth is their next target and sadly for the locals who watch in disbelief, it will be the easiest money they've ever made. I stood aside and watched them buy piles of poo that no local would touch and most of them would have doubled or tripled their money in 10 years.

Well, just over in the far flung, drug and indigenous/migrant infested mortgage belt suburb of Ellenbrook, half decent piles are 750k and selling like hot cross buns. (And further from the CBD than us)

So I'm sticking to the thesis that the Swan Valley is extraordinarily cheap (relatively)

Swan Valley is a dream come true, they think Mandurah is a hot cake,

 

[Smurf1976]

We are getting notes in a letterbox trying to buy our property on spec.

Same here and mine's a completely unremarkable 60 year old house built to a volume builder's standard design.

Light orange-tan coloured bricks that are ubiquitous in SA. Tiled roof that's somewhat faded. Steel framed windows painted white. Concrete driveway with bricks in the middle. Etc. It's as generic as it gets.

Only notable feature is another room, a second living area, added on after the original construction although that's not visible from the street. That plus a carport enclosed on 3 sides but that's fairly common.

At the rate it's going though, it'll be worth $1 million before too much longer and I mean that literally.

 

[wayneL]

Same here and mine's a completely unremarkable 60 year old house built to a volume builder's standard design.

Light orange-tan coloured bricks that are ubiquitous in SA. Tiled roof that's somewhat faded. Steel framed windows painted white. Concrete driveway with bricks in the middle. Etc. It's as generic as it gets.

Only notable feature is another room, a second living area, added on after the original construction although that's not visible from the street. That plus a carport enclosed on 3 sides but that's fairly common.

At the rate it's going though, it'll be worth $1 million before too much longer and I mean that literally.

Notable for me is that none of this in my area at least, is coming from recent migrants; apart from the *very* occasional Safa or Pom... and usually they've been here for a little bit already.

It's mostly Aussies or very long term European immigrants. (And that's me for what it's worth). As far as I can tell, there is only one Chinese purchase in the whole Valley but which set vacant for two years and then resold to Aussies.

Fwiw

 

[sptrawler]

Well it will be interesting to see how the middle class respond and how the politiians deal with it, Labor appears to be in panic mode and the Libs are a joke, so the Greens may be the ultimate winners.
They are the only ones giving any pushback for middle Australia.

 

[mullokintyre]

Well it will be interesting to see how the middle class respond and how the politiians deal with it, Labor appears to be in panic mode and the Libs are a joke, so the Greens may be the ultimate winners.
They are the only ones giving any pushback for middle Australia.

Perhaps this might be a clue.
The plebs are leaving the great metropolis for greener pastures.
I wonder how Sydney property prices may have fared had the immigration numbers been cut back.Mick

 

[farmerge]

Perhaps this might be a clue.
The plebs are leaving the great metropolis for greener pastures.
I wonder how Sydney property prices may have fared had the immigration numbers been cut back.Mick
View attachment 173446

The grass is always greener on the other side of the fence.

 

[qldfrog]

Well it will be interesting to see how the middle class respond and how the politiians deal with it, Labor appears to be in panic mode and the Libs are a joke, so the Greens may be the ultimate winners.
They are the only ones giving any pushback for middle Australia.

Greens(party) pushback for middle Australia? Are you ironic?
The housing crisis with migration, the power bill with renewables , the jobs going with net zero and taxes...they are indeed always here to ensure the small push to keep the workers heads under the water.
In my opinion, these illiterate radical marxists are the extra push worsening labour policies to the point of making Australia unviable. The rot in our society.

 

[Prepper Pete]

Greens(party) pushback for middle Australia? Are you ironic?
The housing crisis with migration, the power bill with renewables , the jobs going with net zero and taxes...they are indeed always here to ensure the small push to keep the workers heads under the water.
In my opinion, these illiterate radical marxists are the extra push worsening labour policies to the point of making Australia unviable. The rot in our society.

Understand Australian house prices is like understanding why a desk lamp looks like a UFO

 

[Prepper Pete]

The grass is always greener on the other side of the fence.

Well at least cows do jump over the MOON

 

[sptrawler]

Greens(party) pushback for middle Australia? Are you ironic?
The housing crisis with migration, the power bill with renewables , the jobs going with net zero and taxes...they are indeed always here to ensure the small push to keep the workers heads under the water.
In my opinion, these illiterate radical marxists are the extra push worsening labour policies to the point of making Australia unviable. The rot in our society.

The thing is the greens are the only party talking about rent caps, renters rights, reducing property tax breaks and with voters it is all about the optics. Labor are nervous, that's for sure.

 

[mullokintyre]

All the political hot air from the greens, labor, Coalition etc etc are mere bits of theatre.
Have a look at this chart of building approvals over time.
If we are increasing population at an ever increasing rate, the building approvals show we are completely Fu#$%ed.
Current levels are where they were in 2010 and have been falling since2021.
Mick

 

[sptrawler]

All the political hot air from the greens, labor, Coalition etc etc are mere bits of theatre.
Have a look at this chart of building approvals over time.
If we are increasing population at an ever increasing rate, the building approvals show we are completely Fu#$%ed.
Current levels are where they were in 2010 and have been falling since2021.
Mick
View attachment 173483

Yes it is a sure way to improve productivity, get all the workers stiched up to the eyeballs in mortgage or rent payments, then they have to beg for extra work.
Funny how the premise for increasing immigration, was to bring in skilled workers and after adding a couple of million we are still short of skilled tradesmen, but have plenty of uber drivers.
Magic the new norm.

 

[qldfrog]

The thing is the greens are the only party talking about rent caps, renters rights, reducing property tax breaks and with voters it is all about the optics. Labor are nervous, that's for sure.

But we know they are all causing rental shortages, the more the worst..but yes the talk is pleasant, the situation worsens, and more votes at the next elections

 

[mullokintyre]

The latest ABS figures out today further highlight the fall in owner occupier housing.
Why on earth someone from the opposition or cross benchers does not just put these charts into hansard and ask one the genii in the Govenment to explain it it all is just beyond me.
it makes the opposition and cross benchers just as big a bunch of morons as the government.
Mick

 

[TimeISmoney]

Labour and the Greens are dreaming, if you cap rents you'll have to cap everything related to a rental or you'll end up with poor quality rentals. It's been a proven fact in many studies.

As for their commitment to building public housing that's another dream, the costs will blow out to something huge.

Builder's dire warning for Aussie industry on brink of 'national disaster'

Scott Challen said a 'perfect storm' is brewing and they're only seeing the 'tip of the iceberg'.

au.finance.yahoo.com