Sellers Walking Away From Hot Market = More Upward Price Pressure

Hi one-world - I don't think Melbourne has lagged...we've had a boom in 2008/09...so it's only been about 4-5 years which is a pretty normal cycle, albeit a shorter one.
 
Yeah as much as I’d like to agree with you one world I have to agree with Aaron. Melbourne peaked in 2010 so it hasn’t been lagging that long, also oversupply of stupid tinny apartments in all the nice areas. /rant
 
Aaron_C said:
Hi one-world - I don't think Melbourne has lagged...we've had a boom in 2008/09...so it's only been about 4-5 years which is a pretty normal cycle, albeit a shorter one.
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That's right, I would say it is Sydney that has lagged behind and it is now playing catch up big time, there is some serious money to made in this market.

Generally speaking when Syd booms, Melb and Bris follow, I am hoping this will happen
 
Ausprop said:
melb is unlikely to follow this time because it broke sequence when it had a bizarre break out in the middle of the GFC
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All the Melbourne agents I speak to would beg to differ. Things are bubbling along very nicely in Melbourne's suburbs.

Auction clearance rates are at all time highs.
 
one world said:
All the Melbourne agents I speak to would beg to differ. Things are bubbling along very nicely in Melbourne's suburbs.

Auction clearance rates are at all time highs.
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Indeed but it is winter.....so not much stock around. If the market can sustain momentum this Spring then we know we are in boom times.
 
Aaron_C said:
Indeed but it is winter.....so not much stock around. If the market can sustain momentum this Spring then we know we are in boom times.
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According to Louis Christopher's SQM research, supply of houses on the market is falling.

This is very positive for Melbourne property.
 
one world said:
According to Louis Christopher's SQM research, supply of houses on the market is falling.

This is very positive for Melbourne property.
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Yes but winter is always low supply....spring is when the market is flooded with many more properties and if the market can absorb that - then we are all headed to make a lot of money.
 
I must say I thought Perth RE Agents were bad however Melb RE agents I take my hat off to them, they are some of the most brilliant BS artists.

Just make sure you phone at least 7 and ask the same question then work it out from here, time consuming I know but it just has to be done;)
 
Aaron_C said:
Yes but winter is always low supply....spring is when the market is flooded with many more properties and if the market can absorb that - then we are all headed to make a lot of money.
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Had an interesting conversation with and Adelaide agent (principal) who has sold over 100 houses this year.

Saying similar things, that houses are flying out at the moment as there isn't much supply. He said that he's been selling things for such big prices in the first few weeks well above what he believe market value is just because people don't have that much choice currently.

He had said even listings that have been sitting for along time are now selling just because of low supply.

He wasnt too sure if this will continue once spring arrive and alot more competition.
 
Aaron_C said:
Yes but winter is always low supply....spring is when the market is flooded with many more properties and if the market can absorb that - then we are all headed to make a lot of money.
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I hear some of your clients already making lots of money in winter. Imagine if it continued in spring :eek:
 
Aaron_C said:
Yes but winter is always low supply....spring is when the market is flooded with many more properties and if the market can absorb that - then we are all headed to make a lot of money.
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dont bet on it.

WA is record low stock and still little interest at anything over $600k.
 
Aaron Sice said:
dont bet on it.

WA is record low stock and still little interest at anything over $600k.
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I misunderstand your post Aaron.

So WA has record low stock and yet, nobody is buying anything over $600,000?

Is that what you are trying to say?

My understanding was that WA is bubbling away nicely.
 
WesternRat said:
anything under or around median getting snapped up first week
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Crikey, that does not leave much room for bottom fishers like me who insist on buying into the cheapest decile of an area's assets.

I feel a bit silly for selling my Perth portfolio ages ago. I've shifted the funds to Melbourne and although Bayside Melb (Seaford, Frankston) is improving it has yet to rocket (although it surely must, given some of the bargains that abound).
 
one world said:
I've shifted the funds to Melbourne and although Bayside Melb (Seaford, Frankston) is improving it has yet to rocket (although it surely must, given some of the bargains that abound).
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Sorry, you're saying the local area is improving, but the price has gone down (thus bargains around), and because of this, therefore it will surely rocket up?

I've got to say, there are lots of titles in this world, so specifically choosing to be a bottom-picker is questionable at best. I've caught enough falling swords in the sharemarket to now regularly remind myself to avoid picking bottoms.
 
Well that might've been a slight exaggeration and there are no doubt bargains or diamonds in the rough out there, just have to find them and beat the others!
 
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