Property Hot Spots
- Thread starter sash
- Start date
Josko I think your property at face value is a good price. I dont know the market in Beenleigh too well but it is on a big block and within walking distance to the station.
I would have a look through if I had some money.
I will tell my girlfriend she is looking for a house
I would have a look through if I had some money.
I will tell my girlfriend she is looking for a house
Can SOMEONE put Tassie on the list for once!
According to the API Hot 100 List by state
TAS = 2
And
NT = 1
ACT = 2
WA = 2
SA = 13
VIC = 25
QLD = 25
NSW = 30
Here's how their 2007 Hot List fared
LMAO!! Thanks for that, excellent, kudos to you. These experts couldn't get it more wrong if they tried. Not saying I could pick better but I don't pretend to be able to.
On that note maybe the forum could come up with a hot list and we'll see if the collective wisdom here can do better?
I think you have read a different magazine - this is the Novermber Issue of API and it covers 100 suburbs not twenty; and is complete this month.
How can that be? we are only up to November issue and thats says top 100 not 20???
Please explain?
I think maybe you've conned yourself with all this dilly dallee
What magazine are you buying??
He's referring to Your Investment Property magazine. It's running a 2 Part Top 20 suburbs to invest in 2009 cover story in the, wait for it ... December 2008 issue, which hit the news stands on Thursday.
Ahh thanks Rob....got very confusing because the thread was commenting on API mag with no mention to YIP mag.
Thanks jesse,
It is a damn good price! This is what I have been trying to say to people. There are no buyers out there except FHB and they wouldn't know a good price if they fell over it. People are saying their properties haven't dropped in value...but if you actually have your property on the market, in most cases you practically have to give it away to sell it.
Open house went well this weekend. 4 FHB couples.
If your girlfriend is interested please PM me, I have an open listing.
Regards JO
Hi all, I'll have to start with a disclaimer that this is my opinion based on what I observed in Adelaide, not advice or expert data.
I found the API hotspots very very LATE. Koulizos was asked to come up with a list so he had to do something & by the time the list went to print, 6 months would have elapsed.
Property in SA lagged so far behind NSW & VIC that by 2003, we were still not up enough, even thought we'd doubled in price. I sold in 04, peak price then. Between 04-5, prices corrected somewhat, & were flat in places but cheaper suburbs continued merrily upwards, such as Christies Bch & Pt Noarlunga.
Other beachside suburbs like Semaphore & Tennyson went up a LOT in the 5 years 2000-05. They can't keep on going up 20% every year but they're thriving locations nonetheless.
The fact is across SA, every suburb would have registered at least 25% increase.
The same increase applied to rural SA. I know places like Peterborough, Balaklava etc. When I saw Penola & Mt Gambier on the list, I investigated a bit. I wouldn't buy AFTER the list came out. Because the prices had already caught up.
The list is compiled from data ALREADY captured. The time to buy in those places was before the list came out.
The list is good only if prices continue going up broadly otherwise some rural properties may be overpriced.
I'm not an expert. Sometimes we fall into the trap of relying on 'experts' & join the sheeple to the slaughter.
I do believe that property will flatten therefore look towards other asset classes.
Good luck,
KY
I found the API hotspots very very LATE. Koulizos was asked to come up with a list so he had to do something & by the time the list went to print, 6 months would have elapsed.
Property in SA lagged so far behind NSW & VIC that by 2003, we were still not up enough, even thought we'd doubled in price. I sold in 04, peak price then. Between 04-5, prices corrected somewhat, & were flat in places but cheaper suburbs continued merrily upwards, such as Christies Bch & Pt Noarlunga.
Other beachside suburbs like Semaphore & Tennyson went up a LOT in the 5 years 2000-05. They can't keep on going up 20% every year but they're thriving locations nonetheless.
The fact is across SA, every suburb would have registered at least 25% increase.
The same increase applied to rural SA. I know places like Peterborough, Balaklava etc. When I saw Penola & Mt Gambier on the list, I investigated a bit. I wouldn't buy AFTER the list came out. Because the prices had already caught up.
The list is compiled from data ALREADY captured. The time to buy in those places was before the list came out.
The list is good only if prices continue going up broadly otherwise some rural properties may be overpriced.
I'm not an expert. Sometimes we fall into the trap of relying on 'experts' & join the sheeple to the slaughter.
I do believe that property will flatten therefore look towards other asset classes.
Good luck,
KY
Hi kum yin lau,
Evan and I have been trying to tell this to people for a while now. That data is not to be relied upon when actually in the market to buy or sell.
I have also found the data in YIP mag even worse and way behind at times. I stopped buying it unless there is some article in there that tweeks my interest.
In reagrds to the hotspots, I don't know about all the suburbs but the areas I do know, Beenleigh and redcliffe, I will agree are hot spots to buy in NOW. yes they have already booomed , but they will go again for many reasons. So in that instance, I agree with API.
Has Adelaide not flattened yet? I have no idea of this market.
Regards JO
Evan and I have been trying to tell this to people for a while now. That data is not to be relied upon when actually in the market to buy or sell.
I have also found the data in YIP mag even worse and way behind at times. I stopped buying it unless there is some article in there that tweeks my interest.
In reagrds to the hotspots, I don't know about all the suburbs but the areas I do know, Beenleigh and redcliffe, I will agree are hot spots to buy in NOW. yes they have already booomed , but they will go again for many reasons. So in that instance, I agree with API.
Has Adelaide not flattened yet? I have no idea of this market.
Regards JO
Hi Josko, re Adelaide. Prices are very resilient - haven't really come off. I think it's because sellers price in the discount factor therefore have asking prices 5-10% higher than what they'd accept.
The number of properties for sale has gone up appreciably. For nearly 3 years, the local newspaper had only between 750-1400 opens. Now it's 2400.
Number of properties actually sold has dropped. But auctions have dropped too with more properties private treaty.
New houses or off the plan subdivisions should do well in the next 6 months because we're still short re 1st homeowners. I have one on the market - $325000 don't know whether will sell but I don't really care. I only have 2 left. The rest are commercial.
This is my opinion for whatever it's worth. High end properties will come down sharply because they went up so much in 2008.
The next thing we should watch is building cost. Heaven knows what builders will take when they have no projects to build.
Thanks for the info on Beenleigh. Good luck,
KY
The number of properties for sale has gone up appreciably. For nearly 3 years, the local newspaper had only between 750-1400 opens. Now it's 2400.
Number of properties actually sold has dropped. But auctions have dropped too with more properties private treaty.
New houses or off the plan subdivisions should do well in the next 6 months because we're still short re 1st homeowners. I have one on the market - $325000 don't know whether will sell but I don't really care. I only have 2 left. The rest are commercial.
This is my opinion for whatever it's worth. High end properties will come down sharply because they went up so much in 2008.
The next thing we should watch is building cost. Heaven knows what builders will take when they have no projects to build.
Thanks for the info on Beenleigh. Good luck,
KY
Adelaide's auction market came off the boil well before the current prices. New laws have created confusion amongst the market; they were supposed to instal confidence but they have actually done the opposite. House prices here did not hit the totally stupid highs seen interstate - much more stable here; plus we have a few good things on our side here, our economy is not expected to be impacted on as much as NSW, which might be into recession, but we are expecting growth. Or at least not a negative trend. We hope!
Puska...I agree with oyur assessment of Adelaide. The high end suburbs have come off...but mid to low end suurbs are okay. They are still moving.
Adelaide also has a lot of Defence related work heading its way. Also, the mining there is also got high value products like silver and Uranium.
Unfortunately, I live in NSW...the basket case of OZ.
Cheers
Sash
Adelaide also has a lot of Defence related work heading its way. Also, the mining there is also got high value products like silver and Uranium.
Unfortunately, I live in NSW...the basket case of OZ.
Cheers
Sash
