What do you believe will happen to Australian property prices in the next 3 years?
- Thread starter Aceyducey
- Start date
Well, I've just refinanced three properties and two came back at exactly the same valuation as at September 2003 and the third - the one with the possums but without the asbestos - came back $30,000 more - 14% increase over nearly three years.
However, because of development potential it's 'real' value is now much higher but for mortgage security purposes the possums reduce market appeal!
Cheers
Kristine
However, because of development potential it's 'real' value is now much higher but for mortgage security purposes the possums reduce market appeal!
Cheers
Kristine
Blast from the Past Here!
I think I am with Christine and my prediction of 0%.
I can same my PPOR sold in March this year for $521k which was down from $580 valuation in SPetember 2003.
Since them we have had two rate rises so I assume no increase and more downside.
Again, it is very very hard to measure across the Board.
But worth trying, Peter 14.7
I think I am with Christine and my prediction of 0%.
I can same my PPOR sold in March this year for $521k which was down from $580 valuation in SPetember 2003.
Since them we have had two rate rises so I assume no increase and more downside.
Again, it is very very hard to measure across the Board.
But worth trying, Peter 14.7
Im not experienced in this feild at all - but I would think that things may drop in an effort in putting more first home buyers in the position of being able to purchase their own properties. At the moment most people are struggling just to get into the market, and some prices are just unrealistic.
Then again - I have no idea
RJ
Then again - I have no idea
RJ
yadreamin said:Kenneth certainly got a hell of a lot more than he bargained for.CG that is
++++++++++++++++++++++++++++++++++++++++
Dear Yadreamin,
1. You are right.
2. I was "lucky" to have invested all my funds into the Perth property market, achieving at least 26% pa. growth during the last 3 years.
3. All my properties have also almost doubled in values between 2003/2004 and 2006.
4. The land price for the Anchorage Estate at Rockingham, where I have invested my properties into, has actually grown at an average of 100%p.a. between 2003 and 2006. It is still growing, in fact.
5. For your kind update, please.
6. Thank you.
Cheers,
Kenneth KOH
Dear Steve,
1. I am both happy and glad that we have agreed to disagree regarding our own views on the various Australian property markets back then in Feb 2004, while attending one of your seminars in Brisbane.
2. Despite being in the minority then, I have acted on my own views and have greatly profited from my own investments in Perth, over the last 3 years.
3. Now, I am ready to explore into investing into the Sydney and Melbourne property markets, having cashed out my funds from the Perth property market.
4. Given the lastest round of interest rate increase and another further expected one at the end of 2006, to me, it will be more prudent and safer, to enter these 2 property markets during 2007/2008 period, not withstanding that the Melbourne property market has already consolidated this year ( and with some its inner CBD suburbs achieving double digits growth this year as reported by REIV) while the Sydney property market has also reportedly believed to have bottomed out during the said period;- if not for the latest round of the interest rate increase and their expected adverse impact on these 2 markets.
5. For your kind update and further comments/discussions, please.
6. Thank you.
Cheers,
Kenneth KOH
1. I am both happy and glad that we have agreed to disagree regarding our own views on the various Australian property markets back then in Feb 2004, while attending one of your seminars in Brisbane.
2. Despite being in the minority then, I have acted on my own views and have greatly profited from my own investments in Perth, over the last 3 years.
3. Now, I am ready to explore into investing into the Sydney and Melbourne property markets, having cashed out my funds from the Perth property market.
4. Given the lastest round of interest rate increase and another further expected one at the end of 2006, to me, it will be more prudent and safer, to enter these 2 property markets during 2007/2008 period, not withstanding that the Melbourne property market has already consolidated this year ( and with some its inner CBD suburbs achieving double digits growth this year as reported by REIV) while the Sydney property market has also reportedly believed to have bottomed out during the said period;- if not for the latest round of the interest rate increase and their expected adverse impact on these 2 markets.
5. For your kind update and further comments/discussions, please.
6. Thank you.
Cheers,
Kenneth KOH
Kennethkohsg said:
Kenneth , Not saying you're wrong , but I'm wondering where you have come to the conclusion that the Sydney Market has bottomed.
We spent looking around at properties in the local area last weekend , and whereas I normally find the majority of agents will give a similar story , on that day they were all over the place ( with their opinions ). Most agreed there had been about a 10 % pull back prior to recent months, but since then some felt it had clearly dropped further ,with the may rate rise, while some felt it hadn't changed at all .
I seem to recall some market commentator have said the market has consolidated , but personally I'm not convinced.
There is not a lot on the market at the moment and there are buyers around , but they're taking their time and looking for good deals.
Will be interesting to see what happens with spring which , traditionally , is when alot of listings occur . If there is another rate rise , or any adverse events in the economy , I see the potential for further decreases.
Also depends alot on how much elbow room people have factored in. Heard one couple being interviewed , complaining about the rate rise. They said they have factored in rate rises when they bought , but had only allowed for one....
See Change
Hi Aceyducey
"It's not so much what happens but how you react to what happens"
I propose another category for your poll.
"Who does not consider it important one way or another?"
That gets my vote
Regards
Simon
PS good here from you Steve. Cheers
"It's not so much what happens but how you react to what happens"
I propose another category for your poll.
"Who does not consider it important one way or another?"
That gets my vote
Regards
Simon
PS good here from you Steve. Cheers
Sorry about that Aceyducey
I thought it was hot off the press.
Seeing a post from Steve Navra should have twigged with me.
Regards
Simon
I thought it was hot off the press.
Seeing a post from Steve Navra should have twigged with me.
Regards
Simon
