Bubble or not - List your disc findings !

[The Fence]

No...I think it's great thread...it will prove, once and for all, that the Oz housing market is made up of many many markets and markets within markets...

The arguments will come down to dates on comparisons.....

Answer...easy...cycles and dates around the Oz housing markets will be many and varied but overall you will see a stagnating and even backward market from 2004 to now in various amounts across the whole Oz market...but you will also see rising markets in that period too....

Great thread and can't wait to see the facts coming from real life experiences, not just what people get emailed to them by REA's..

 

[evand]

Lame cheap shot there mate, what was your point? If there was one at least be a man and not make cheap shot implications as you do.

And what do you mean by 'real life experiences? Oh you must mean the listings people are finding on re.com.au or links to SMH articles.......how silly of me to not realise they are real life.

Are you serious?

And the markets in markets in markets excuse is a crock. You only ever hear this in reference to a falling market. If its a rising market, they all go up together. Every property owned by forumites has risen.

Great thread and can't wait to see the facts coming from real life experiences, not just what people get emailed to them by REA's..

As for the SMH article, all the description of the property dont mean a thing. What does matter is they are asking too much for the current market, which has fallen. Thats it. It takes a while for most vendors to get realistic about price and realise the market has fallen.

 

[Success]

And the markets in markets in markets excuse is a crock. You only ever hear this in reference to a falling market. If its a rising market, they all go up together.

So true !!!

 

[Deltaberry]

Surrey Hills, Hawthorn and Kew are all Blue chip suburbs - great results.

That's why I always advocate blue chip suburbs. It's not about being 'snobby' contrary to some forum members' beliefs.

 

[Wunderbar]

They only call it snobby because they simply can't afford it. But people are too proud to admit that.

 

[Melbournian]

I want to sell my apartment for $1m but I will accept $750k, therefore having a discount of 25%...any takers?

u moved in yet? 750K i believe should not be a problem. elite sold something similar for that price.

 

[Wunderbar]

Haven't moved in. Looking for tenants atm. You still want to come have a look?

 

[Melbournian]

yeah man of course - this 2 weeks i tied up in frankston (doing cutovers) but will have definitely come have a look.

 

[Aaron Sice]

So something is happening ... but thought this thread would highlight this 'something' as others here always say it's one area or state.

are you arguing for or against that notion?

because i'd love to sink my teeth into someone posting up dribble about the Sydney markey being the nation's indicator etc...

Sydney is now MARKEDLY different to Melbourne. Most Eastenders will agree, yet fail to draw the same comparison between Perth/Adelaide or feel that Darwin prices can be linked to Brisbane etc.

ANYONE trying to extrapolate fundamentals across state borders should be shot on sight.

 

[The Fence]

Lame cheap shot there mate, what was your point? If there was one at least be a man and not make cheap shot implications as you do.

In your words in many posts lately...."what are you on about....???"

I meant real life experiences....you know... real prices people actually paid and the discount they received on the asking price.....you need to relax Evan, you are getting paranoid about all this...

Maybe I'm asking too much...real price discounts actually achieved....? That's the data I'm interested in.

 

[Bigtone]

Are you serious?

And the markets in markets in markets excuse is a crock. You only ever hear this in reference to a falling market. If its a rising market, they all go up together. Every property owned by forumites has risen.

can't agree with you there evand.

my personal experience certainly validates the markets within markets theory. I have had properties in a 5 year period basically show no growth at all and during the same 5 year period had other properties more than triple.

I am a big believer in timing the market and diversifying for these reasons.

The market i am watching closely at the moment is bayside melb as i am trying to upgrade PPOR. This market is very inconsistent and probably down slightly on last year. many properties are passing in without a bid and then others are going way over reserve. I bid for one last week and it went $225K over reserve, i went $25k over what i thought is was worth because it was for PPOR and i really liked it but the guy who bought it was bloody determined to win it!!

 

[Aaron Sice]

And the markets in markets in markets excuse is a crock. You only ever hear this in reference to a falling market. If its a rising market, they all go up together. E

....no they don't - WA 05-07 is a perfect example.

 

[el caballo]

BT,

Curious to know if you went into the auction with a pre-determined upper limit eg. 25k over?

 

[Melbournian]

can't agree with you there evand.

my personal experience certainly validates the markets within markets theory. I have had properties in a 5 year period basically show no growth at all and during the same 5 year period had other properties more than triple.

I am a big believer in timing the market and diversifying for these reasons.

agree - timing is crucial and demographics and suburb appeal factors play a part too.

 

[BayView]

Here is a start ...

http://www.realestate.com.au/property-apartment-sa-port+adelaide-106143694

Attractive; buy for $400k, rent for $330p/w.

Now that's what I call a really bad return.

They are kidding, right?

 

[Bigtone]

BT,

Curious to know if you went into the auction with a pre-determined upper limit eg. 25k over?

yeah i did.

it was for a ppor so happy to pay slightly over rather than if investment would just have a max and that would be it.

also with a IP i normally buy in a day or two, things are a lot more complicated and time consuming when the missus wants her say (way) as well.

$25k is a small price to pay really to free up my time and sanity

found out later buyer would have paid just about anything for property as he was buying so his daughter can move into the area and grandkids can be close by.

my emotional add on was $25k his was probably $250-$300k

if u got it why not, obviously built up lots of wealth and now has the grandkids close by, good luck to him its why we invest isn't it, so we have options we would otherwise not have

 

[Ms Jade]

The market i am watching closely at the moment is bayside melb as i am trying to upgrade PPOR. This market is very inconsistent and probably down slightly on last year. many properties are passing in without a bid and then others are going way over reserve. I bid for one last week and it went $225K over reserve, i went $25k over what i thought is was worth because it was for PPOR and i really liked it but the guy who bought it was bloody determined to win it!!

Good time to be upgrading the PPOR, I reckon. Some places are falling through the cracks and there are always motivated sellers if you can get in early enough & give them what they want (e.g. divorce). We were devastated in '09 when we missed out on a PPOR purchase & were told the same thing: the people who bought it "would have paid whatever it took." It was an unusual house & they fell in love with it. Of course, an even better house turned up a month or so later & it was ours! I'm sure yours is not far away; I'm a bit fatalistic about these things.

 

[imonmyway]

I thought this graph was relevant Graph

 

[Bigtone]

Good time to be upgrading the PPOR, I reckon. Some places are falling through the cracks and there are always motivated sellers if you can get in early enough & give them what they want (e.g. divorce). We were devastated in '09 when we missed out on a PPOR purchase & were told the same thing: the people who bought it "would have paid whatever it took." It was an unusual house & they fell in love with it. Of course, an even better house turned up a month or so later & it was ours! I'm sure yours is not far away; I'm a bit fatalistic about these things.

yeah i agree unfortunately the one's slipping through the cracks have not been want i am looking for!

i also think it will work out for the best just need to convince 'her indoors' of that

 

[evand]

The 'what are you on about' was in response to one post by a poster raving on about stuff not related to the thread topic.

Can you point out any 'real life experience' posts in the thread?

Thanks

In your words in many posts lately...."what are you on about....???"

I meant real life experiences....you know... real prices people actually paid and the discount they received on the asking price.....you need to relax Evan, you are getting paranoid about all this...

Maybe I'm asking too much...real price discounts actually achieved....? That's the data I'm interested in.