Melbourne expected to lead big residential property price falls

[GoingDHfast]

A sign of things to come? Melbourne's spring of discontent? Turi Condon is usually a property bull with the best of us but certainly not today:

http://www.theaustralian.com.au/new...erty-price-falls/story-e6frg6nf-1225892981410

A SWAG of Melbourne houses are expected to be put on the market by the end of year.

This will push down prices in what has been Australia's most resilient housing market.

An estimated 35,000 Melbourne houses and apartments will be advertised for sale either privately or by auction in December, according to advisory and forecasting firm SQM Research.

SQM managing director Louis Christopher said ...................

 

[Propertunity]

So from the article, these big price falls are:

These, however, were only likely to be between 1 per cent and 1.5 per cent each quarter.

So we are talking about a possible 4-6% (av. 5%) fall across an entire year? So what?

This happened in Sydney too after its 2003/4 boom.

Even if I chose to sell 4 - 5 of my IPs, at an av. $400K a piece, for fear of a 5% fall, the $20K I'd lose by holding = $20K I'd lose by selling and re-purchasing again sometime later. I think I'll go back to bed, wake me if anything else exciting happens in terms of price falls in the next year or so.
This too shall pass.

 

[andrew_de_a]

Melbournes spring was brought forward to winter this year, we have record low numbers booked for spring as do many of our competitors. I don't think we will see a glut of properties hit the market.

 

[evand]

You wont see a glut of enquiries either.

Melbournes spring was brought forward to winter this year, we have record low numbers booked for spring as do many of our competitors. I don't think we will see a glut of properties hit the market.

 

[andrew_de_a]

Well there seems to be enough buyers at the moment in my areas to soak up the extra stock. Anything that isnt selling at auction is usually being snapped up wthin the week after. The only segment of the market this is not occuring in is the 2mil plus

 

[random]

It's a no brainer the brightest flame burns quickest !

Being a Vic myself though I hope we don't get hit too hard but then again if we do , well that's the beauty of property . One mans poison is anothers gain and all that stuff !

Cheers

 

[Aaron Sice]

coz melb's the centre of australia and all.....

 

[Jim Goose]

coz melb's the centre of australia and all.....

do I smell a little bit of small town syndrome, sniff, sniff......yep, there it is.
Poor old diddums all the way over there in Perf, there, there...

 

[DavidMc]

Oh no looks like we've got a few D&Ger's on the forums again.

Wonder how long these guys will last?

Guys - do a search for Hired Goon and Yieldmatters.

 

[Player]

coz melb's the centre of australia and all.....

Ahhh, that explains it............on some occasionally very early morning walks, when all is still, those things I thought were foxes, are actually dingoes

 

[random]

coz melb's the centre of australia and all.....

Uhhh , brightest flame meaning we had the biggest property spike last year from memory .

 

[zed_kid]

Good. Need a slow down to pick up more IPs without paying 20% over the advertised price just because of the hysteria.

 

[Ausprop]

do I smell a little bit of small town syndrome, sniff, sniff......yep, there it is.
Poor old diddums all the way over there in Perf, there, there...

I use to think a city was better as it got bigger, now I am not so sure. I spent a long time in London tho - now that is a fantastic city! should probbaly be its own country

back to the thread... the huge rises seemed to be counter to everything else going on in the country/world so it would make sense if the gains were reversed and some.

 

[Dazz]

Poor old diddums all the way over there in Perf, there, there...

Try not to bite the hand that feeds you.

One day we might pull the linch-pin that's propping you up. You'll all be left sitting there sipping your lattes on Lygon St chattering away about your self-importance, wondering what the hell happened.

Just a simple thank-you would suffice, rather than smarmy back-chat.

 

[buzzlightyear]

Headline's role is to attract people to read....I guess they were successful!

The content seemed relatively rational, although I guess the more detailed research would explain the swag of properties to be put onto the market in December. Never seen those projected forecasts before but SQM is a well respected property research& forecasting organisation.

But let's not get confused between the sub editor's role to have a headline which gets people to go and read the article and the content.

 

[oracle]

Try not to bite the hand that feeds you.

One day we might pull the linch-pin that's propping you up. You'll all be left sitting there sipping your lattes on Lygon St chattering away about your self-importance, wondering what the hell happened.

Just a simple thank-you would suffice, rather than smarmy back-chat.

Thank you

Cheers,
Oracle.

 

[zed_kid]

Try not to bite the hand that feeds you.

One day we might pull the linch-pin that's propping you up. You'll all be left sitting there sipping your lattes on Lygon St chattering away about your self-importance, wondering what the hell happened.

Just a simple thank-you would suffice, rather than smarmy back-chat.

HAHA yeah right. Viva la revolution!

 

[Sunfish]

Oh no looks like we've got a few D&Ger's on the forums again.

Wonder how long these guys will last?

Guys - do a search for Hired Goon and Yieldmatters.

You don't have to search for me, David. I'm still here and willing to tell you yadreamin if you want me too.

How long could your neg geared portfolios stand 1.5%/qtr drawdown? Why would you even try to find out?

 

[Aaron Sice]

melb's due for a correction - i called it about 2 months ago - running way too hot.

doesn't mean it's going to drag Sydney, Adelaide, Hobart, Darwin, Brisbane or "Perf" with it.

that's my point, numpty. it's no "east vs west" thing at all.

but hey - you wanna break out that argument, be my guest. i'm choking on ammo here.

 

[andrew_de_a]

high end melb has come back around 10% in the last 2-3 months