Hi Rixter,
I am waiting patiently for your pearls.
MC
I am waiting patiently for your pearls.
MC
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Hi Rixter,
I am waiting patiently for your pearls.
MC
A flash in the pan perhaps or I call them pockets, in the last 12 months Mt Isa has increased 40% but not many we're talking about that.On balance it doesn't look like a sustained boom. A mini boom perhaps, aka a flash in the pan?
I just don't buy the population growth explanation.Maybe I dont like pearls
Not even a week's gone by - Keep thinking.
But I'll give you a tiny wincy hint - check out population growth and new construction levels!
G'day Michael,
It's good to see you back here again, mate.
So right - particularly in parts of Logan. My PPOR cost $45k in 84, worth $95k in 89, then $75k in 92. Stayed in the doldrums until 2002.
By the end of the boom (early 2004 in this area) it was worth $200k and would rent for ~$230pw. Good enough, I thought - won't be much more growth in this place for the next several years..... (7% CG over 20 years)
WRONG !!! Kingston has gone crazy yet again, and I'm dumb-founded. Beggar all houses with 3bdr available today under $260k - and most everything is "Under Contract" when checking re.com.au
I know Bne is enjoying +ve population growth, and was under-supplied with houses, but hey - today, Kingston properties (25Km from CBD) are pushing to values that are getting close to Bayside suburbs, or 15Km properties. I can't see it lasting (but then, I also didn't see it coming either). I'm concerned this might end up as a repeat of 92 (dropping back to $200k or thereabouts this time). A false boom perhaps? But then, maybe it'll hit $300k then settle back to $240k while the rest of Bne goes nuts !!! Who's really to know?
Regards,
The markets got me puzzled too atm. Lousy affordability, and yet prices climbing in what used to be considered the also ran areas. Have three income families entered the market (joking here I think)?
Brisbane rent prices are a bit insane IMHO (I rent myself). We have 2 IP's.I understand that at $200k in 2004 there was room to move, particularly when compared to the other capitals, it was cheap. Even the RR at 5.25% was above the national average. But a run now, starting at 260-280k? And I bet the rents haven't moved by the same %. Got me beat - for the moment
5 years ago, for me to work in Brisbane (instead of Sydney) would mean a pay cut of $10-20k or more. Now I'm earning the same if not more in Brisbane than I'd expect in Sydney. And this is in the IT industry not resources.It's Queensland QLD born and bred, but have to agree with this sentiment... But things are getting better slowly I think.
A half a percent before years end will sort a few out. Prices up and interest rates up = affordability down even more. Not fire sale territory, but a bucket of water for sure.
MC
On balance it doesn't look like a sustained boom. A mini boom perhaps, aka a flash in the pan?
MC
Perth and Tas have had periods of 8 to 10 years of zero growth, and when inflation is taken into account, they fell in real terms
Perhaps Melb. has had it's correction, maybe not, it's all in the numbers.
MC
CashflowPlus,If everyones so worried about the prices going up in brisbane/logan then why not look to buy out ipswich. Prices still quite cheap (personally I haven't seen this kind of price increases there). If the price rises in brisbane are a boom then the ripple effect will eventually hit ipswich. But if increases are a bubble and it bursts then price falls wouldn't really affect ipswich much coz they did not experience this frenzy.
Just a risk management plan and my 2 1/2 cents