Recent content by Wibbly Pig

The market definitely is starting to cool in Melbourne. In some areas it is downright cold! Marked change in sentiment past few weeks. Clearance rates dropping. Noticed REIV becoming more ambigous with numbers stating clearance rates of somewhere between mid and high 70s for this weekend.

Interesting article. http://www.dailytelegraph.com.au/news/sunday-telegraph/home-dreams-turn-sour-in-the-southwest/story-e6frewt0-1225864001029

I'm glad to hear other people's opinions and am certainly receptive to all your ideas and thoughts. Keep it going!

OK, happy to concede 30-50% may be an overstatement for ALL houses in these suburbs, but I have definitely seen an increase of at least 30% in many of the high end ($1.5 million+) homes in these areas.

No unfortunately this is true, for suburbs like Camberwell, Kew and Balwyn in Melbourne.

I think Melbourne has been affected the most due to the high number of overseas students studying here. Education of overseas students is a major industry in Melbourne (perhaps more so than any other city in Australia) and I believe many cashed up parents of these overseas students have been...

Finally Common Sense Prevails! (And not before time!)

The tightening of FIRB rules applies to the whole of Australia, however is likely to have the greatest impact in Melbourne and to a lesser extent Sydney where prices in blue ribbon suburbs (the target suburbs) of foreign investors have increased by 30-50% since the initial relaxation of the...

Interesting times indeed. I am glad the government has finally come to its senses and reversed the insane relaxation of FIRB rules for foreign buyers. I believe this will have a MAJOR impact on house prices, particularly in Melbourne's Eastern suburbs and we will see a definite plateau or more...

Not long to go now....

This statement sums up EXACTLY what is going on at the moment. Pure rampant SPECULATION. No one knows how it will end. The market may double again in the next 12-24 months, but believe me it will end and when it does, Australia will be facing a massive economic disaster, similar to Ireland, US...

The current Melbourne real estate market has gone crazy. The frenzied buying and ridiculously high prices we are seeing are no longer based on fundamentals and are the result of an importation of a speculative credit fuelled bubble in real estate from Mainland China. The 50-60% price rises we...

Excellent post Graemsay. I posted a similar graph previously on another thread. I strongly believe we are in the 'Return to normal' part of the Blow off phase and people are likely to get a massive shock/wake up call in the next 6-24 months. I believe the peak of the 'return to normal' phase has...

http://www.theage.com.au/business/rba-rate-rises-hit-home-20100112-m3lu.html

Hi BV, I think it is data for the whole of Australia. I'm not sure whether it includes all lenders. You make a good point regarding December traditionally being a quieter month (along with January) which may account for the sharper drop off in the last month or so. Will be interesting to see the...