St George identifies nations hotspots
- Thread starter Propertunity
- Start date
Yeah Collector I read that article yesterday afternoon too 
Last sentenance was interesting, I thought:
REA's do market property............ANY property. That does not make the particular property they are marketing, a 'hot spot'.
Last sentenance was interesting, I thought:
REA's do market property............ANY property. That does not make the particular property they are marketing, a 'hot spot'.
After you wasted so much powder last year convincing everybody that property market is about to crash - do you really think that anybody is interested in your opinion?
“The banks need to be careful what they support because they are regarded as being credible institutions,” REIA president David Airey told Real Estate Business.
lol that's funny, lets just leave it to the non credible BS institution like the REIA who told us there's only 700 properties to rent.
lol that's funny, lets just leave it to the non credible BS institution like the REIA who told us there's only 700 properties to rent.
Evan, you did...
majority of your posts in 2008 up until almost mid 2009 (when you saw the tide turning) were full of doom and gloom for resi properties... you forecasted massive drops and were of the opinion that 2008 will see massive falls, then changed it to 2009 (first half) and kept delaying your forecasts until you realised it wont happen.
Its ok to admit that one is wrong. I also get it wrong but dont take it personal when I am wrong. You had been wrong on majority of your assessments about prop market.
Harris
I have no problem admitting when i'm wrong.
I can't recall saying property prices were going to crash. That was non recourse and i'm on the record as saying his 40% crash prediction was too extreme.
I thought property prices would fall (and i still do) and i never expected the extent of recovery due the massive stimulus, low rates, etc.
I don't think anyone did, but they'll take the credit.
I can't recall saying property prices were going to crash. That was non recourse and i'm on the record as saying his 40% crash prediction was too extreme.
I thought property prices would fall (and i still do) and i never expected the extent of recovery due the massive stimulus, low rates, etc.
I don't think anyone did, but they'll take the credit.
All these surveys IMO just make those who have purchased or are considering purchasing feel good about themselves.
Does anyone ever go back and judge how accurate these predictions are?
I found an old Residex Top 100 report from 2005. From memory it had 5 and 8 year predictions.
If anyone is willing to check how accurate they were and post the results I'd give them the report.
I remember you saying prices in NSW Central Coast and Western Sydney will fall also.
BTW yes you are right about property prices will fall in the future, its all part of the property cycle but fortunately you were wrong in this instance as you predicted the prices to fall NOW but they are on the rise.
yes there is
All these surveys IMO just make those who have purchased or are considering purchasing feel good about themselves.
Does anyone ever go back and judge how accurate these predictions are?
There is nothing wrong with a pat on the back.
Over two years ago Jan Somers was telling everyone Beenleigh was a Hotspot. I had already bought in Beenleigh and one in neighboring Mt Warren Park.
1. It DID make me feel good about myself.
2. It DID boom (and will continue to gain steady growth.)
So when I see my IP Suburbs up in headlights as Hotspots - I praise the messenger and hope there is an almighty rush to buy in the area!
Regards JO
There is nothing wrong with a pat on the back.
Over two years ago Jan Somers was telling everyone Beenleigh was a Hotspot. I had already bought in Beenleigh and one in neighboring Mt Warren Park.
1. It DID make me feel good about myself.
2. It DID boom (and will continue to gain steady growth.)
So when I see my IP Suburbs up in headlights as Hotspots - I praise the messenger and hope there is an almighty rush to buy in the area!
Regards JO
I bought in Brunswick (Melbourne) a couple of weeks ago (before the release of the report) and I agree, it did make me feel good about myself. I also attended last week's Brunswick auctions, which I call a post-purchase property syndrome to reinforce that my purchase was indeed a correct one and judging by some of the prices fetched, I was quite relieved I did not pay too high. It was actually quite hilarious how the auctioneers spent more time babbling on about the St George report, and how they always knew Brunswick was the best suburb, and how RP Data was well respected etc.. more so than discussing about the property itself.
Hopefully such a report becomes a self-fulfilling prophecy (which it should because it is human nature that we suffer from the bandwagon effect) and everyone rushes in to buy in the area.
Btw, how on Earth did Fawkner make it in? Sure, it is all price relative and you get decent land etc... but Fawkner? Really?
Well that's the thing. if it's a self-fulfilling prophecy I'm all in for Fawkner. It's even undervalued if ppl don't believe it. GO FAWKNER!!! Will aim to buy a unit there next year.
I reckon it'll be the next Carlton easily. Give it a few centuries!!!!
I reckon it'll be the next Carlton easily. Give it a few centuries!!!!
You obviously didn't buy in any of those suburbs
You obviously didn't buy in any of those suburbs
Must be tall poppy syndrome Deltaberry!!!
Thanks for the great property link
great find with the link...
great find with the link...
I would say Lilyfield in Sydney Inner West is also a good value area worthy of a mention