WBP property outlook

[Bigtone]

http://www.wbpproperty.com/news-article.asp?id=82&t=Property+Outlook+Magazine+-+Q3+2010&cid=3&pid=3

Interesting take on the different capital cities around the country, what do the people on the ground in those cities think?

 

[Amadio]

Wha...?

The guy who writes for Brisbane is seeing a different market to the one I'm seeing which is pretty sluggish. His figures indicate a ripping boom happening.

 

[Aaron Sice]

Perth = spot on.

very soft here - but always is in Winter, except 2004-2007.

 

[craigb]

there canberra write up was crap?

 

[Player]

Under supply fairy tales:

http://www.hotspotting.com.au/index.php?act=viewArticle&productId=2077

 

[Rockstar]

An email from one of my local agents a few days ago. Should I be worried?

Still feels quiet so hopefully things pick up soon. I have never been amongst so many nervous and negative people as I was at the annual PRD real estate convention at the Hunter Valley on the weekend. If they are a snap shot of the public in general no wonder we are quiet? Until the bank tells me to shut the doors I promise I will stay positive for you.

 

[weg]

Cut and Paste from article.

Andrews Farm 2010 $275,000 2009 $273,000 0.7%
Ingle Farm 2010 $295,000 2009 $285,000 3.5%
Prospect 2010 $570,000 2009 $458,000 24.3%
Woodcroft 2010 $370,050 2009 $357,500 3.5%
Magill 2010 $573,500 2009 $452,500 18.8%

Adelaide like most places experienced a mini boom at the lower end of the market during the period of the FHOG (eg. Andrews Farm, Ingle Farm) while there was little activity at the high end.

In the last year that lower end has slowed but stayed steady while the higher end started moving again bringing the overall state median up.

In the more expensive suburbs like Prospect (up 24%) the lower end of the market, inc. many units, had more sales during the FHBG while again the more expensive homes weren't selling. The higher end started moving again in the last 12mths if not over priced. Again the lower end slowed significantly.

This movement of sales from different parts of the market at different times is imo what's given us a large rise in median both in some suburbs as well as the state in the last 12mths.

I didn't see drops but I didn't see rises either, although many houses are now sitting on the market for much longer especially in the first home buyers range.

What do other South Australians think?