more auctions in perth than ever, currently - especially for development sites.
auctions are not a common thing in WA, therefore i call top.
auctions are not a common thing in WA, therefore i call top.
Is Market Sentiment Changing
- Thread starter MTR
- Start date
more auctions in perth than ever, currently - especially for development sites.
auctions are not a common thing in WA, therefore i call 'toppy' - about Jan 2006.
auctions are not a common thing in WA, therefore i call 'toppy' - about Jan 2006.
Weekend clearance rates ( APM ) June 14th for Sydney
Now up to 76 % .
If it cracks 80 % I'll be interested if we get a " Sydney property market booming again ..... " headline from the papers again .
Cliff
Now up to 76 % .
If it cracks 80 % I'll be interested if we get a " Sydney property market booming again ..... " headline from the papers again .
Cliff
Who said anything about buying ? I'm sitting on the sidelines watching prices go up.
How's Cairns going ? How much has palm cove gone up and what sort of returns can you get for a nice 2-3 BR unit a block back from the beach ?
Cliff
Hi see_change
Sorry, not ignoring you. I actually got bogged down answering your question and subsequently distracted buying in Brisbane! I would not recommend Palm Cove for an investment, but Cairns suburbs are a different question. Will post a more detailed analysis when I get a chance. In the meantime, have you been checking out the Cairns threads?
Cheers
Jen
Too much coffee this morning Aaron??
always....
Sorry, I value my own opinion so much that I seldom feel the need to review the opinions of RANDOM STRANGERS who try to feed me cherry-picked information.
SORRY again - I am not one of your regular buddies on this forum. If you had checked your facts, rather than shooting squarely from the hip when you see negative data, you would have seen that our other friend was talking about a different series of clearance rates than you.
BTW . If you don't value , listen to or believe what people are saying , What's the point of being here
And my sincerest apologies about your confusion. I am always interested in finding new data sources and read well-reasoned analysis - no matter which way it falls. Sometimes that well-reasoned analysis comes from self-interested amateurs - thus my presence on this web-forum.
I am not a troll in disguise, although I might have a different opinion to you given I do agree somewhat with the sentiment of this thread - market sentiment could be changing as we write, and your optimism won't change that. At the end of the day, none of this is worthwhile without a well-considered exit strategy. Given my stage in life, I am looking to maintain higher levels of liquidity which means some have got to go - which ones I am yet to decide!
Yes, definitely more auctions in Perth for those deve sites.
I think auctions work well in a hot market.
I am attending one in July helping my niece purchase a deve site. I will keep you all posted, an agent told me that auctions do not work in this particular area, I hope so.
MTR
At the end of the day, none of this is worthwhile without a well-considered exit strategy. Given my stage in life, I am looking to maintain higher levels of liquidity which means some have got to go - which ones I am yet to decide!
This is what I have been preaching for a long long time, boring I know. However, since investing in the property game I have now been through at least 5 property cycles in 13 years
I am well aware of how important exit strategies are, and it does not matter how old one is, I always have an end plan to manage the risk, that's how I operate with all my buys... what if???. The first property boom taught me that hard lesson. If the market suddenly turns and I am stuck with a property that is going south I could end up with a property worth less than the actual home loan and negatively geared, its no fun waiting for the next boom cycle which could be as much as 7-10 years away. Missing out on other opportunities while my cash is tied up
Back to market sentiment, I just read the Herron Todd Report which was posted here early this week I think? Anyway they have all markets rising, except Tasmania and Canberra. I think their figures are lagging though. I certainly see markets in Perth changing, not dramatically, perhaps certain markets are going sideways.
I believe Melb is a mixed bag, some markets doing OK and some just going sideways. Lets see what happens later in Spring time, usually a good selling time??
OK , as I predicted ... though we didn't need to get up to 80 % clearance rates to get it . Clearance rates are around 75 % .
Now we had a headline in the papers saying the market is now hot again . From the Financial review so it must be true ...
Sydney, Melbourne real estate auctions run hot
PUBLISHED: 16 Jun 2014 00:05:00 | UPDATED: 16 Jun 2014 09:52:12
Property prices in Melbourne and *Sydney?s sprawling middle-class *suburbs are going gangbusters as the lower and top-end markets are in *danger of being busted by prices that are either too high, or not high enough, according to real estate specialists.
Melbourne?s south-east suburban sprawl is maintaining clearance rates of nearly 90 per cent and Sydney?s mid-market remains very strong, according to the weekend auction results.
But buyers? agents complain about sellers sitting on high-end properties in the hope for better prices, particularly in Melbourne?s prestige market. Analysis also shows half of people renting claim they cannot afford a deposit.
Cliff
Now we had a headline in the papers saying the market is now hot again . From the Financial review so it must be true ...
Sydney, Melbourne real estate auctions run hot
PUBLISHED: 16 Jun 2014 00:05:00 | UPDATED: 16 Jun 2014 09:52:12
Property prices in Melbourne and *Sydney?s sprawling middle-class *suburbs are going gangbusters as the lower and top-end markets are in *danger of being busted by prices that are either too high, or not high enough, according to real estate specialists.
Melbourne?s south-east suburban sprawl is maintaining clearance rates of nearly 90 per cent and Sydney?s mid-market remains very strong, according to the weekend auction results.
But buyers? agents complain about sellers sitting on high-end properties in the hope for better prices, particularly in Melbourne?s prestige market. Analysis also shows half of people renting claim they cannot afford a deposit.
Cliff
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Thanks Seechange
very interesting.
Sydney
I am curious, apparently West Gosford is one of the fastest selling areas at the moment, so this market is rising? This is a very low entry level, would this be an area you would jump into in this stage of the cycle??
Perth
Well I believe Perth is actually starting to go sideways, more stock on the market, however development sites still rising but end value is not. Time to be cautious in Perth market.
Melb
I have been trying to secure another development site in Melb and nothing, its very difficult, have not seen anything decent for a while, this is pushing prices up.
MTR
very interesting.
Sydney
I am curious, apparently West Gosford is one of the fastest selling areas at the moment, so this market is rising? This is a very low entry level, would this be an area you would jump into in this stage of the cycle??
Perth
Well I believe Perth is actually starting to go sideways, more stock on the market, however development sites still rising but end value is not. Time to be cautious in Perth market.
Melb
I have been trying to secure another development site in Melb and nothing, its very difficult, have not seen anything decent for a while, this is pushing prices up.
MTR
Hi MTR,
Cliff will no doubt respond, but since this is nearby to me, I thought I'd offer my 2c worth.
All the same, I think you'd see some growth if you purchased now. (Better to have done so, 12 months ago just before it kicked on, but still not too late IMO).
Cliff will no doubt respond, but since this is nearby to me, I thought I'd offer my 2c worth.
The market is rising, yes. But so is the whole Central Coast as it picks up the ripple effect from Sydney.
I think from the data, you could exercise caution as the sales volume is low and therefore starts to become SNR.
All the same, I think you'd see some growth if you purchased now. (Better to have done so, 12 months ago just before it kicked on, but still not too late IMO).
Attachments
Thanks Seechange
very interesting.
Sydney
I am curious, apparently West Gosford is one of the fastest selling areas at the moment, so this market is rising? This is a very low entry level, would this be an area you would jump into in this stage of the cycle??
MTR
Not sure of the specifics re west Gosford , but we at central coast mid / end of last year . The lower coast had already moved to an extent at that stage whereas up around Toronto was just starting to wake up .
We decided to go to Brisbane instead , with the land tax being a significant factor . Ended up buying in manly wynnum and teneriffe ( OTP there ....
) .There was a looooong thread about the central coast at the time . I pm'ed a few people at the time for their thoughts and got recommended about every suburb in the area for different reasons .
Cliff
Hey Propertunity - interesting graphs I see you posting on threads. What software/site is that if you don't mind me asking?
Looks like it could have been a temporary dip .
Prices back up in June 1.7 % after a 1.1 drop in May . Personally I think the gloom around the budget had a lot to do with that .
Cliff
Prices back up in June 1.7 % after a 1.1 drop in May . Personally I think the gloom around the budget had a lot to do with that .
Cliff
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LOL. But Glenn has arms of steel. He can hold it there forever!
Happy to bet against you.
It was seasonal. The RP Data index always dips in April/May and then bounces in June - refer to highlighted sections in top right chart...
