Anyone read Money Morning prop' outlook !

[blaster]

I'm not trying to be a d&g here but we are looking right now for our own place and what the hell to do with the latest price spike due to FHG !
Where I am, Vic , cheaper brackets have definitely spiked in prices and movement all over again .

Money Morning don't give a very nice outlook , so if you were to rush in right now and they're right . Plus we hold two cheapies so combined if things take Money Morning's route and we go paying too much for our own place right now on top of that - could get fugly .

The thing is, they use an Oz housing price and movement chart, imposed over the US same and going back to the 1880's, not just some 20 yr garbage.
I'd put the chart in but it won't work so if anybody can get it into thread , appreciated .

But the problem is in buying anything right now, according to the chart it doesn't matter who or what you want to listen to it's all right there in black and white.

-The biggest Oz house spike rampage in our history - 4 fold any other , ever .

- Despite what anyone says our house prices have dropped nearly every time following most major previous spikes. Only this spike just like our stock market over recent yrs is no ordinary spike, it's massively out of proportion.
Which explains how you could say , buy a great house 8k from CBD Brissy , for 80k only 10 yrs ago yet the same now is 400 to 500k = 5x in only 10 yrs.

- Then, our stuff has basically followed the US , give or take , for 100 yrs only this time our spike was 'triple' theirs and our next movement is roughly two yrs behind theirs .

Has anybody seen the chart and ready Money Mornings outlook ?

Cheers [ I think ! ]

 

[Ausprop]

-The biggest Oz house spike rampage in our history - 4 fold any other , ever .

buy a great house 8k from CBD Brissy , for 80k only 10 yrs ago yet the same now is 400 to 500k = 5x in only 10 yrs.
[ I think ! ]

A 4 fold price rampage - what period did that occur over?

also could you really buy a great house 8kms from Bris for $80k in 1999? I am just thinkign that there is no way a $500k Perth house now sold for $80k in 1999.

 

[yorke]

A 4 fold price rampage - what period did that occur over?

also could you really buy a great house 8kms from Bris for $80k in 1999? I am just thinkign that there is no way a $500k Perth house now sold for $80k in 1999.

Unless you are talking about something with mostly land value then probably not, more like $140k-$150K.
Of course if you were to develop the backyard or even subdivide the place and sell the backyard then a 1999 $140K house on 900sqm+ block around the city would fetch $800k and over. Some fibro homes on corner blocks were subdivided into 3 blocks and sold for $350K+ each.
4 fold is not that much anyway, I have a block which cost me 90K in 2000 and in the past few months 2 of them sold across the road for $500K, at their peaks 2 years ago they were going for $100K more. Some land in country towns went up 10 fold and that's only since 2004.

As for Brisie in 1999-2000 you could get $120k brick house 5 km from the city on nice size blocks or $90K-$100K for old QLDers in need of repair but on even nicer sized blocks.

 

[jaycee]

A 4 fold price rampage - what period did that occur over?

also could you really buy a great house 8kms from Bris for $80k in 1999? I am just thinkign that there is no way a $500k Perth house now sold for $80k in 1999.

no but $320k t/houses 5kms from Perth were $70k back then

 

[blaster]

A 4 fold price rampage - what period did that occur over?

also could you really buy a great house 8kms from Bris for $80k in 1999? I am just thinkign that there is no way a $500k Perth house now sold for $80k in 1999.

Hi Guys.

Not sure what's happened with this thread but it seems to have doubled up somehow.

I've got the Money Morning link working to the reports and chart - in the original thread , check it out .

Brissy, yes I was living at Byron 98 , and late 98 and early 99 I knew two separate people in Brissy that bought great houses 8-10k CBD 79k and 82k.

Would you believe they both had pools ! Both houses did need tidy ups I remember but yep 79 and 82k and they weren't bad .

Have only spoken to one in the last few yrs , the 82k but he reckons it's valued 480 now.

But hey that's nothing really , I could give dozens of examples right down to NSW far sth Coast of 4 - 6 x gains within a few yrs during the boom.

But from Byron we moved upto the Sunshine Coast and in 2001 were looking at beautiful small acreage properties , 10-30 min's behind Noosa depending , for 80-120k .

I bought a 3 ac block at Coolum in 2001 for 75k and sold it for 120 4 mths later , it's now worth around 350 from what I can tell.

They had 2 ac blocks with whole sunny coast ocean views, for 60-80k in 2001-2 , dozens of them. 10 min's in and offering all sorts of deals just to sell them.

I was offered one stunning hilltop property, 40ac, Noosa hinterland - 25 mins Noosa , 130k , vendors terms.
Now worth at a guess from browsing realestate.com, around 700 I reckon.
The biggest mistake of my life not buying that place. Not for the money but for the property, it's location and the lifestyle we would have built and had from that day to now.

Cheers

 

[soyabean]

The same 320K house in Inala now costed 55K in 1999 I know this because I was to buy a few then, but did not as I was worried that they would never go up because Inala has always been labeled with a lot of bad names ..... (It is about 12 K from Brisbane CBD not 8km).

 

[Ausprop]

I thought a fold increase went, say

100 folds to 200
200 folds to 400
400 folds to 800
800 folds to 1600

?

otherwise it's a very hard way of saying it went up 4 times in value

 

[blaster]

I look at 2 x or whatever as in my outlay.

50 bucks x 2 and I've doubled my original 50 , x 4 - 200 I've 4 x my 50 bucks .

I saw land on the NSW Sth coast go 7 and 8 x too in around 2002 I think it was.
Some of it was 25 -30k , within 2 yrs they were getting 200 and 250 .

About 3 yrs later blocks they were getting 250 for started dropping back to the 150s - 170s before they'd move.
Actually I just took a look then and the prices seem to have held at this stage now even gone back up to where they were, how much is moving though I'm not sure .

Cheers

 

[VYBerlinaV8]

Some 1 BR units in Queanbeyan NSW near where I live were able to be bought for $28-30k in 1998, but are now selling for $120-140k. Shoulda bought 10.