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Affordability is the key. Folk can argue all day long about a shortage of houses, but if the younger folks can't afford to buy them they will live at home longer, rent, share accomodation or squat.

Oh... what happens if a property is advertised for sale...doesn't sell, but then gets taken to auction. If the bidder actually first saw it as a For Sale rather than an Auction should it still count as an auction....see what I mean, it's unregulated and the results are hence unreliable..Under...

http://www.rs.realestate.com.au/cgi-bin/rsearch?a=ars Why not use RP Data results at 57.5% ? This is what I mean..different results from different sources on supposedly the same events (auctions). If there is a discrepancy then which source do you use? For such an important indicator I would...

Would be nice if common folk could afford to buy in some suburbs :( A house is not a luxury item (read Ferrari) it is somewhere to live (read Mazda). Why shouldn't all be able to afford a Mazda? Isn't this the guts of the article I linked to :confused: If the average punter cannot afford...

Auction reporting figures are unregulated and as such an unreliable method of deeming market conditions. Wait a week when the actual figure is revised down (as per every other week) and maybe try to chase up the unreported results :) I can't understand why if you didn't sell a property you...

http://theage.domain.com.au/real-estate-news/most-homes-fail-affordability-test-for-households-on-median-income-20121025-288b2.html Or maybe when common folk can afford the loan repayments even :confused:

Waaaal, firstly for a start, if there's a bounce then it's not the bottom is it? A seasoned picker would note this. Secondly, if you are pretending to know where the bottom is you obviously don't know where the bottom is. I agree with you if you are pretending to know where the bottom is you...

Sure: This is impossible. I earlier explained to you I would rather pay an additional 5% from the bottom. You need hindsight to actually recognise when you have transpired the bottom of the cycle. I believe we earlier agreed neither of us could pick the bottom. If it will help you out i'm happy...

Whats the point of even mentioning it then? I'm afraid im still not clear. This is your theory not mine...

Happy to help 7smurfs :D

Let me get this clear..you claim that the drop in average prices we are seeing in Melbourne is the result of an increase in value of lower end properties but a decrease in top end property values hence a lower average? While the maths sticks up how does this play out with the increasing number...

Hi Turk :) If you theory is correct then we are in a happy place... this must explain why interest rates keep dropping on the back of record low loan transactions. Imagine how much better off we would be at 0% rates :)

I can't pick the bottom, no one can, but....I 'd rather pay and additional 5% in purchase cost from a proven bottom than buy in say 10% prior to the actual bottom of a cycle. We are not there yet and talk of rushing should not be bandied about in this market :)

Hi Jake, no need to be sorry, apology accepted :) While some areas drop in value others rise, I get that. What I don't get is the fact that if on average the value of property in an area (say Melbourne) is in decline doesn't this mean that of the total number of properties sold in this period...

From Property Observer 25-10-2012: Would you consider a $24k drop in 12 months a bit of cooling? I would not rush in here!