What's Happening In YOUR City or Town ?

How's things looking in your neck of the woods in real estate?

I'm in MACKAY QLD, things are on the down here.
Lots of property for sale but not much selling. Some houses dropping by $50,000 in dribs and drabs over the last few months until they sell.

Two months ago ... Looked at a 5 bed/ 3 bath two story in a new area when it was $689,000 then dropped to 659,000 then $639,000 finally sold at $629,000. Another 4 bed/2 bath same area still on the market after months, originally $605,000 now $570,000

New houses in the Northern Beaches can't be moved according to one real estate I've talked to.

I know someone who works for a local solicitor, contracts are falling over day in day out. it's becomming the norm.

A lot of houses for sale out in the mining towns... Moranbah and Dysart.
Two years ago these were getting snapped up, now there are heaps for sale.

Units in the $300,000 range seem to be still moving but I'm seeing signs of a slow down here too with them taking longer to sell.
 
But Mackay had been HOT. Interesting that is dropping like that though.

I doubt Townsville flew quite so high and probably has better fundamentals. I hope so anyway. :) Million dollar properties are just so passe'.
 
Perth - lacking clear direction. Early in the week Westpac reckoned we were approachign a housing a shortage and the market will take off late next year. Then a report was released yesterday giving the Perth a glowing thumbs up head nod for 20 years, then BIS were reported today as saying at best we can hope for a flat market for a few years and at worst a 5-10% drop.

on the ground I can report high end sales flying out the door e.g. $55m of apartments sold in hours in Claremont a week ago. Pilbara and South West lifestyle locations still going off.

summary - 2 speed housing market. low end stagnant, top end alive and kicking.
 
Im in an middle ring suburb "Watsonia" in Melbourne and bought about 12 months ago.

We got a good sized property with a pool about 8 minutes walk to the train. The suburb is about 15km from the CBD and has seen good growth since we purchased. The median price has increased by 20% according to reiv and the weekend just gone saw a small unkept house on a small block in the least desirable area of Watsonia (accross road from the power station) sell for much more than we paid for our property in one of the most desirable areas.

Prices here are being affected by the upgrade to the train station to a premium station, the duplication of the line at Clifton hill. The $357 million town center and aquatic center work done in neighboring Greensborough and the fact that it was an affordable suburb ($300kish)

Surrounding suburbs of Greensborough and Macleod have had similar growth of 20% to the September quarter
 
Canberra (IMO):

Inverted Bell curve flattening out -- Low end ($300 - $350k) and top end($700k+) very active.
Mid range $350k - $700k picking up.

Rent: Very tight market - annual rent increases above 5%

Yield: 5% and higher very hard to find, average 4% - 5%

Outlook: As long as the government keeps on spending, prices will keep on increasing.
 
Redcliffe

The lower end of the market has gone through the roof in the past 12 mths. Bottem of the market 12 mths ago was about 220 now there is almost nothing under 300. The mid and upper end has moved also but no where near as much in percentage terms. Deception bay has the same story.

Its been a great year, just hope it continues
 
The local newspaper (Kingaroy) just had headline "Housing Boom Heaven or Hell"?
According to the report - the South Burnett property market has gone crazy since the announcement that Tarong Energy intend to mine the Kunioon site. Apparantly locals and investors from out of town & out of state are buying up everything under $200,000.
 
Hi Gang,

I'm in New Farm, Brisbane. I can't believe the strength of the market in all price categories. Yields were only just starting to somewhat catch up after the post 2003-04 boom but rents (despite increases) are being left behind again by steep price increases.

Cheers - Gordon
 
Article in the local paper saying the city of Manningham (Melbourne east - middle ring) has gone up 22% in the last 12 months. Interestingly, both the agents interviewed said that it was migrants pushing up prices. For those who don't know there is a strong Chinese presence from Balwyn outwards (Bulleen, Box Hill, Templestowe, Doncaster, Donvale).
 
Article in the local paper saying the city of Manningham (Melbourne east - middle ring) has gone up 22% in the last 12 months. Interestingly, both the agents interviewed said that it was migrants pushing up prices. For those who don't know there is a strong Chinese presence from Balwyn outwards (Bulleen, Box Hill, Templestowe, Doncaster, Donvale).

Yep, and that's why I only considered these places when I was looking for my 1st house.. and I bought mine in Glen Waverley.
 
Im in an middle ring suburb "Watsonia" in Melbourne and bought about 12 months ago.

We got a good sized property with a pool about 8 minutes walk to the train. The suburb is about 15km from the CBD and has seen good growth since we purchased. The median price has increased by 20% according to reiv and the weekend just gone saw a small unkept house on a small block in the least desirable area of Watsonia (accross road from the power station) sell for much more than we paid for our property in one of the most desirable areas.

Prices here are being affected by the upgrade to the train station to a premium station, the duplication of the line at Clifton hill. The $357 million town center and aquatic center work done in neighboring Greensborough and the fact that it was an affordable suburb ($300kish)

Surrounding suburbs of Greensborough and Macleod have had similar growth of 20% to the September quarter

I have been watching the movement of these suburbs (Watsonia, Mcleod, Bundoora, Reservoir) quite closely, and I have noticed strong upward movement in the last few months. I reckon there's still a long way to go for these suburbs, especially given that the ripple effect should be in full swing soon.
 
Prices increasing in Adelaide.

I bought in Enfield last month for $380k - 900+m2 block with good quality (but old) house on it. Whilst not saying anything obviously, I got the distinct impression the REA thought I was paying too much. I didn't believe so as the house suited our requirements for the next few years, and then can fit 3 dwellings on it.

Went to an auction this morning on the next street behind me. SA Housing Trust auction of an old run down house (a knock down job) on a corner block, but only 802m2 - big enough for 2 dwellings only. Sold for $405k.

I'm very happy! :D
 
It's absolutely going nuts in my hunting grounds, and has been for yonks.

Colliers International research director reports on average land growth of 65% since Jan 07, and 165% since Jan 06.

Rental growth also going through the roof as well. Tenants are trying to lock down properties with 10 year Leases with modest 4 or 5% annual increases, and Landlord's are countering with at market reviews every 2 years.

It's a lovely situation to be part of, and Owner Occupiers looking to avoid renting for their business premises will outbid most if not all investors....they are fantastic for pumping the market up.

The cat is definitely out of the bag.
 
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