Looking at that graph posted earlier, the March Qrt in the last 5 years has been lower then the December Qrt before it. We had massive growth last year so of course we are going to have some sort of correction and historically March qrt seems to be a low point in Melbounrne each year.
Melb property prices slide 8.4%.
- Thread starter The_Bludger
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Actually, I'm a non-believer of decoupling theory, so I do expect softening of properties across Australia, but there's no way we can tell whether it's going to be a soft landing or hard landing. One thing I'm sure of though, is that if China's demand waned, QLD and WA will actually suffer even more than other states, as commodity boom goes both ways. Having said that, companies that are leveraged to oil and gas like Woodside, and regional centres that are leveraged to food production could further underpin Australia's growth, even if BHP and RIO suffers.
Agree.you need to be mindful of casting a net using these figures,If you look at places like Pakenham that have achieved 11%,it is purely due to the massive development that has occurred over the last year.100's of brand new properties in a location 55km from cbd.
I think the REIV like to play with their numbers a little. We were discussing this over at GHPC, as Foundation pointed out, they like to overstate the upside, then correct their numbers the following qtr with a decline:
In Feb they announced a 12.8% rise in the Dec 2007 qtr to $485k. But today they announce a 8.4% drop in the March qtr from $472,250. Either the rise was smaller, or the drop bigger. The trend is pretty clear, one qtr is great, the next is a decline. Either way average these numbers out and we may be somewhere around reality.
As GoAnna says, watch your areas and make up your own stats, they will probably be more accurate.
Now that's just funny....
i actually went to melbourne to buy an investment property[errr, we'll ignore the few days of holidaying too lol] .. specifically in the south yarra region.
As much I enjoyed the progress within the areas I was interested in from the last time I was there; there is just too much supply to see any sort of positive jump [ ie. 10%+ per year in the 2-3-4] from an investment standpoint. More importantly from an infrastructure standpoint, it doesn't appear to warrant a push from people looking to rush into melbourne because of x and y.
I'm sure it's a terrific place to live.. and considering you can get yourself a nice 1 bedroom place for 180-195k it'd be a terrific ppor for quality of life but that's about it.
Anyone purchase in docklands recently/thinking about buying there? Any feedback?
As much I enjoyed the progress within the areas I was interested in from the last time I was there; there is just too much supply to see any sort of positive jump [ ie. 10%+ per year in the 2-3-4] from an investment standpoint. More importantly from an infrastructure standpoint, it doesn't appear to warrant a push from people looking to rush into melbourne because of x and y.
I'm sure it's a terrific place to live.. and considering you can get yourself a nice 1 bedroom place for 180-195k it'd be a terrific ppor for quality of life but that's about it.
Anyone purchase in docklands recently/thinking about buying there? Any feedback?
Have a look at the March quarter for each year in the graph posted by FHB. Detect a trend?
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