HTW December 2007 Month in Review

[Rixter]

Heron Todd White Month in Review for December.

 

[stumunro]

quite a good review, thanks for the post

 

[MichaelW]

Interesting...

According to HTW, the state of the market in each city (for both houses and units) are:

Sydney: Start of recovery
Melbourne: Peak of market
Brisbane: Rising market

So, if you haven't bought Melbourne already then its too late. Move on to one of the rising or about to rise markets! I know where my money is...

Cheers,
Michael

 

[Rixter]

Sydney: Start of recovery
Melbourne: Peak of market
Brisbane: Rising market

So, if you haven't bought Melbourne already then its too late. Move on to one of the rising or about to rise markets! I know where my money is...l

It works for me also.

BTW according to HTW Brisbane's been a rising market for the last 12 months.

 

[stumunro]

It works for me also.

BTW according to HTW Brisbane's been a rising market for the last 12 months.

And this to me sounds quite spot on in terms of property prices over the last 12 months, I personally think the brisbane market has alot of room to do some damage, even more so than the boom perth had. Can't wait to see what happens.

 

[stumunro]

I know where my money is...

Cheers,
Michael

My strategy at the moment is to get one more purchase before the end of the year or end of jan in Brisbane, and then look into the Sydney market which by then will hopefully be still nice and cheap in relative terms. I believe, like others, that the next 2 interest rate rises will cause rife in the sydney mortgage belt.

 

[ozi]

So, if you haven't bought Melbourne already then its too late. Move on to one of the rising or about to rise markets! I know where my money is...

Melbourne is a very big market! Some areas have boomed, some are just starting, some haven't moved at all and others have gone backwards.

Ozi

 

[traveller]

Melbourne is a very big market! Some areas have boomed, some are just starting, some haven't moved at all and others have gone backwards.

Ozi

Hi Ozi,

Care to share which suburbs you think havent moved at all or have even gone backwards in mlebourne.

I have now been looking for last few months and even the most unlikely of suburbs(like some of the outer SE suburbs) have gone up atleast 20%...

 

[ozi]

Hi traveller,

Take a look at the REIV market data for each suburb here:

http://realestateview.com.au/median/

Just be mindful that the median isn't always indicative of what is happening in a particular area. For example, sometimes a larger number of "higher end" property sales will skew the results. But anyway, its good to use as a guide and may help you target a particular suburb.

Cheers,
Ozi

 

[tubs]

Plenty of the western parts of Melb are still cheap. Around the outskirts (Keilor way) houses are low 300s. And I'm talking nice new houses. Similar to ones that are selling in the E and SE suburbs for 800-900k in average suburbs! I'm planning to look more closely out there.

 

[traveller]

Thanks ozi. Yes there a few western suburbs out there. I guess the ripple is reaching there as well.

 

[Ausprop]

Plenty of the western parts of Melb are still cheap. Around the outskirts (Keilor way) houses are low 300s. And I'm talking nice new houses. Similar to ones that are selling in the E and SE suburbs for 800-900k in average suburbs! I'm planning to look more closely out there.

if you look at the booms that occurred in Sydney and Perth, it is interesting to note that the ripple worked its way out and then the market split, with the upper end properties being the real prize winners. Premium property in Perth is still doing 30% and well above in many cases, I understand Sydney is similar.

 

[hagel]

Thanks for posting Rixter .

 

[stumunro]

if you look at the booms that occurred in Sydney and Perth, it is interesting to note that the ripple worked its way out and then the market split, with the upper end properties being the real prize winners. Premium property in Perth is still doing 30% and well above in many cases, I understand Sydney is similar.

I don't think the gap will continue to get bigger, there will be a balancing out eventually

 

[Nth Brisbanite]

And this to me sounds quite spot on in terms of property prices over the last 12 months, I personally think the brisbane market has alot of room to do some damage, even more so than the boom perth had. Can't wait to see what happens.

I've got a property in Kallangur (24kms north of Brisbane CBD). House will be built by March 2008. Can't make up my mind whether to sell now or wait another 12 months for Brisbane to (hopefully) get to its peak. Someone mentioned that it's been rising for the last 12 months.

Anyone willing to give a prediction on how much (%) Brisbane outer suburbs will rise in the next year?

 

[pi2012]

Not so happy news for the Outer Suburbs of Melbourne:

"The outer suburbs of Melbourne show stable prices with marginal increases over the past year. New housing growth areas such as Epping (4.5%), South Morang (1.1%) in the outer North and Cranbourne (2.7%), Narre Warren
(2.5%), and Berwick (1.1%) in the outer South East, have shown only small increases in the median house price over the past year."

 

[ffc1883_1996]

Not so happy news for the Outer Suburbs of Melbourne:

Don't you mean: "NOW is great time to invest in the Outer Suburbs of Melbourne" ??