The state of the economy at the street level

satanoperca said:

Everyone still wants a place to call home.

Maybe Perth prices are fair value, maybe they are cheap, maybe they are still over priced.

Regardless, markets always have a way to sort themselves out, the only variable that few can calculate with accuracy is time.

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satanoperca said:

I personally think even country properties are overvalued, but I might be wrong, but then again there is some reason why everything is slowing down and a recession (a good thing for the long term longevity of this country) is on the horizon and just as the sun rises and sets, so do recessions.

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qldfrog said:

To stress this fact:
Completed yesterday relocation of small suburban queenslander onto already own land
Cost of actual building relocated rewired replumbered?
Around 95 to $100k inc 40k or so labour
Final cost 155k
55k in fees and mandatory compliance costs such as bushfire rating, environmental obligation
And that is using preexisting house capitalising on 1950s hourly rate and materials..hardwood not pine, etc
So by that example even with free land and labour, you need to pay 100k min for a 2/3 bedrooms in Oz
That is the min start price in Australia

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moXJO said:

My favourite ice-cream store shut down the other day. Terrible moment...

There are a lot of 'for lease' signs on shop fronts as well.

Bunnings was completely dead when I parked at the trade section today. I normally have to wait for a park. It was literally me and three other people in the whole store. Apparently they had ok trade on the weekend. People seem to be more selectively spending.

I am noticing the for lease signs though. But in my mind there are a lot of businesses that were just never going to make a tough cycle.

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Humid said:

https://reiwa.com.au/uploadedfiles/public/content/the_wa_market/house-prices-2013-web.pdf

It’s currently around 480k

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Junior said:

Whereabouts are you located? Bunnings around here (Inner SE Melbourne) seem to be busy most of the time.

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qldfrog said:

To stress this fact:
Completed yesterday relocation of small suburban queenslander onto already own land
Cost of actual building relocated rewired replumbered?
Around 95 to $100k inc 40k or so labour
Final cost 155k
55k in fees and mandatory compliance costs such as bushfire rating, environmental obligation
And that is using preexisting house capitalising on 1950s hourly rate and materials..hardwood not pine, etc
So by that example even with free land and labour, you need to pay 100k min for a 2/3 bedrooms in Oz
That is the min start price in Australia

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sptrawler said:

You are right, but when it is a hot property market, everyone thinks property, how to save for it, where to buy it, keep an eye on prices, put things off.
When the herd turns, it is all bad news, property prices crashing, apartments with problems etc.
Then the people on the side lines say, we will save a little longer, we will take that holiday we put off.
It takes a lot to stop the slide, people have to believe it has bottomed, I don't think they do.
The Sydney, Melbourne market was awash with, buyers, easy money and foreign investors.
All of the above has dried up.

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Smurf1976 said:

https://www.abc.net.au/news/program...7-02/a-nation-making-coffee-not-cars/11272684

It seems some are starting to wake up.

A bit late, it has only taken ~40 years after the problems with the "low value service economy" idea became all too apparent to anyone who gave the idea some thought, but at least they've worked it out eventually.

Now how do we fix it?

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