State Property Cycles

[digs75]

Hi All,

Just became a member of this site and hope to learn some good things from reading the different topics of conversation.

With the reports that Sydney then Melbourne are the next state's to develop a boom period of property price growth, where about's is the Brisbane property cycle and how far behind the two other states to developing a price growth boom of their own ?

I am a year away until I can buy my 2nd IP for which the Brisbane market might be a more attractive option if price growth in Sydney/Melbourne have taken off even more by then.

cheers.

G

 

[twobobsworth]

Hi digs,

In the back of the API magazine it has some stats done my Herron Todd White. As at July 09 it says brisbane is bottom of market. Might be worth picking up a copy at your local news agent.

 

[Ajax]

This link will give you more recent info from Herron Todd White. Next report will be September 2009 out in next few days.

http://www.htw.com.au/Downloads.aspx

 

[topcropper]

With the reports that Sydney then Melbourne are the next state's to develop a boom period of property price growth

G

Are Sydney and Melbourne now states..?? Well I'll be buggered! Gee's ya learn some good stuff on here. I suppose that means Newcastle is now my new state capital city? Maybe Williamtown will get an international airport now, and I won't have to go into Sydney at all?
What the hell will happen to 'state of origin' now..??



I'd say boom cycles have no bearing whatsoever on state boundaries. Sydney boomed up until 2003. Other areas then had their cycle later, and out in rural areas their boom didn't start till 2003, and then prices doubled in the next few years.

My town in rural NSW had a boom cycle exactly the same as Perth, possibly due to the commodity boom.


See ya's.

 

[digs75]

Thanks for the feedback gang... also good to see a good sense of humour flowing around the forums

 

[marg4000]

Melbourne prices have been booming for some time now. Some sources are describing it as a bubble.
Marg

 

[Ajax]

digs75,

Herron Todd White September 2009 month in review out now

http://www.htw.com.au/Downloads/Files/211_September_2009_Month_In_Review.pdf

Check out where in cycle capital cities are at bottom of document

 

[The_Bludger]

Yes, Melbourne is booming. Didn't realise Sydney is too. Maybe time to fly up North and pick up a good buy before it follows suite.

 

[Nth Brisbanite]

Brisbane definitely seems to be taking off. The agents that I talk to are complaining about a lack of stock. In immediate area (Aspley, Zillmere), houses in the sub $500,000 are selling days after being listed.

In my street, a 4 year old house on a small block was put on the market on Friday. The agent was going to have an open house 8 days later but because of the demand, he changed his mind and had an open house the following day. He told me that he'd never seen anything like it with crowds at both opens. His first contract was on the Friday with 4 more after the opens. The highest offer was $480,000 which was surprising in an area where the median is aroung $430,000.