Property ReSales

[Piston Broke]

Mount Druitt

13/08/2011 Residence $322,000
11/05/2006 Residence $415,000

29/07/2011 Residence $268,000
17/05/2003 Residence $250,000

14/07/2011 Residence $230,000
28/06/2001 Residence $172,800

13/07/2011 Residence $287,000
19/09/2002 Residence $288,000

01/07/2011 Residence $150,000
28/10/2001 Residence $180,000

01/07/2011 Residence $233,000
25/05/2003 Villa $207,000

27/06/2011 Residence $250,000
07/07/2004 Residence $270,000

19/06/2011 Residence $227,000
28/05/2009 Residence $207,750

10/06/2011 Residence $265,000
24/09/2003 Residence $225,000

Dont look very good, its called recession.

 

[Propertunity]

Mount Druitt
Dont look very good, its called recession.

I think it could also be called being selective about a few resales that support your bent on the situation and cherry picking a suburb that has not grown much since it peaked in 2005 (after Sydney's peak of 2003/4).

I could just as easily mount an argument that we are having a boom by selectively picking a few other suburbs closer to the CBD, like Summer Hill (not that I've ever mentioned it before ).

But if you are saying that Mt Druitt is having a recession, then OK, maybe ?? - skater would know, she lives close by.

 

[InnerWestie]

Mount Druitt


01/07/2011 Residence $150,000
28/10/2001 Residence $180,000


Dont look very good, its called recession.

A 20% gain in 4 months? That's my kind of recession

 

[alexlee]

A 20% gain in 4 months? That's my kind of recession

That's 10 YEARS and 4 months, IW.

 

[livewildcard]

This just reminds me of classic A Current Affairs style information.

No details where the stats come from, just random dates and numbers.

Here's my numbers of Newcastle, NSW

01/01/2010 - $245,000
15/06/2011 - $450,000

10/10/2010 - $365,000
14/03/2011 - $550,000

Not so bad a recession now............

 

[wobbycarly]

That's 10 YEARS and 4 months, IW.

AND it's negative!!

 

[alexlee]

Though I don't know what it tells us about the market now. Western Sydney did peak around 2001, bottomed around 2007 but has gone up a little since then (as have rents). I don't see much of a revelation in those numbers. Obviously this is only a specific Sydney area. Other Sydney areas will show very different numbers.

 

[Beorn]

Battelino

Ric Battellino recently said we all know there's no bubble because it's all supply and demand, and that this is evidenced by the fact that prices have only doubled and sometimes quadrupled in big cities where everyone is clamouring for homes.

However, my particular interest is rural housing, small lifestyle acreage and such. And I can assure you that no matter where I look in Oz, from sea to shining sea, I'm finding an identical run-up in prices all over the place. So Battellino is patently wrong, and by his own logic there is a bubble.

‘‘People feel that house prices in Australia are quite high and that’s quite often because the ratio of house prices to income that are published for Australia tend to focus mainly on prices in the cities, and they are quite elevated,’’ Mr Battellino said in response to a question at a business function in Sydney. ‘‘But, if you look across the whole country, the ratio of house prices to income is not that different from most other countries.’’

Read more: http://www.theage.com.au/business/no-house-price-bubble-rba-20100615-ycyc.html#ixzz1YNRBUY6U

I'm now patiently waiting for the hissing sound to grow louder, and watching these forums to see investor sentiment as the realisations dawn.

 

[Piston Broke]

Looking at those charts does not tell what's happening on the battlefield.
Just as in 2560 I looked at many pages and posted the last few resales.
The only ones i left out was a reno, and a subdivision.
And a sale of 50k which was either a buyout or related sale.
If you bought and held, you most likely lost money.

 

[InnerWestie]

AND it's negative!!

My bad, misread it