Is the Aus housing market crashing & is this a decent forum?

[see_change]

Ohh ... Three weeks

Gee better sell of my portfolio pretty quickly then

See Change

 

[TTRTR]

Investment U.

Where all roads lead to the subscription page....

 

[thefirstbruce]

here's my rap from the last few weeks trudging the footpaths:

- lots of interest in middle northern burbs of Brisbane for homes under 250k.
this was born out in 6x public trustee auctions and 3x private agent auctions- 7x homes passed in at auction under reserve, but sold later above valuation. 2x homes knocked down presumably below original reserve.

- lots of heat down on the trendy bayside burbs still. houses for sale still getting multiple offers up to 5% under list price at Sandgate, Brighton, Woody Pt.

- lots of sub 250k homes under contract in the outer northern burbs of Brisbane. ie pine rivers.

- list prices creeeping back up to December 2003 in all areas.


to sum, the market seems to have a little more vigour than Apr- July period. though now is a seasonally strong time of buyer interest..nevertheless, still many more listings than December 2003.

from my constant noseying into other ppl's business at auctions, seems there are still a lot of novice investors stuck back in 2003 thinking they are going to make great gains. the savy investors aren't bidding, just watching the property get passed in, then making an offer afterwards. the novices fight against each other and drive the prices up beyond what similar non auctioned properties are demanding. interesting phenomenon.

rents aren't up much...... maybe 5-7% there is still a real glass ceiling on rents......has anyone seen wages go up?????? me neither......

 

[Rachelk]

UK property website

Hi,

I'm also an aussie landlord in London and in my opinion, the following UK website has the best forum for property:

www.singingpig.co.uk


There are a lot of experienced UK property investors (although not as many as there used to be) posting on this forum.

 

[TTRTR]

Thanks Rachel,

I've seen the site, it seems to be like this one.

I like HPC for the mental challenge of dealing with so many negative posters.

Just out of interest, what area are you in? I'm in Wandsworth.

 

[Phil_H]

Investment U.

Where all roads lead to the subscription page....

Bit cynical there TTRTR, the steak knives are great

Cheers

Phil

 

[qaz]

He's got some great comments!



So booms are really, really bad things....therefore busts must be GOOD things...therefore by definition this guy, by predicting a total bust, is an absolute optimist!

Cheers,

Aceyducey

I dunno bout you or anyone else in this forum, but I'd sure like the property market to crash to LBernham levels

Does LB post here anymore?

 

[geoffw]

I dunno bout you or anyone else in this forum, but I'd sure like the property market to crash to LBernham levels

Does LB post here anymore?

Yes, but if you had properties, would you want that crash ?

 

[TTRTR]

IMO people who want a crash don't realise how hard it might affect them.

Imagine wanting to buy at new lower prices, but no banks willing to lend unless you have a 25% deposit (for example).

So a crash won't necessarily make it any easier to buy a place.

 

[Rachelk]

Answer to your question

Hi TTRTR,

I'm not far from you in Wimbledon. I actually own an investment flat in your borough (Southfields).

I'll have to check out the website you mention although I may need body armour?

Rachel

 

[TTRTR]

My places are in Clapham Junction. So not far at all.

You need more that body armour on HPC, it's a regular bear party over there.

I didn't realise how many ways the world could end and how soon it would be before HPC!

 

[agent001]

Great sentiments expressed about the current property market. I have just finished a quarterly sales report that I compile for clients and sales volume compared to the same period last year (june, july, august) is 50% down across the entire area- Central Coast NSW. Draw your own conclusions.