Whats Happining Around Your Way?

Just a note my re said things are hitting a wall in canberra about now and i don't know why , i am hoping our home exchanges asap as he seems to think i wouldn't get another offer for a year or two.
lots of stock and i see good buying opps already, so whats happening around your place ??
 
Hi Craig

I was speaking with an REA in Canberra on the w/end. I’m not sure how accurate his figures were but he said that there were currently twice as many listings on the market than normal.

Things certainly seemed to have slowed down following a bit of activity in January.

Best of luck with the exchange. I hope it all goes ahead with no hassle.

Cheers

Jamie
 
I don't think its a case of of "not getting an offer for a year or two". It will be case of a much lower offer.

But you'll have to lower the listing price to meet the market to get an offer. If you kept your initial price well then you probably wouldn't get an offer at all.

And so thats how the market falls.


Just a note my re said things are hitting a wall in canberra about now and i don't know why , i am hoping our home exchanges asap as he seems to think i wouldn't get another offer for a year or two.
lots of stock and i see good buying opps already, so whats happening around your place ??
 
Been trying to suss my area out a bit lately.
Great Ocean Road and Sth W Vic.
Most agents are saying it's quietened a lot , a few say they're still doing heaps.
Some things are still moving that's forsure but it does seem a lot slower .
Right now I personally put it at about the last few mths pre Stimulus period equivalent .
I've put one place on market but it's at 20% less than it would've easy gone for 18nths back , doubt it'll sell to be honest .
 
There was an article in the Weekend AFR a few weeks ago, stating that in all capital cities there is an increase of stock on the market of about 40 - 45%.

We are trying to sell our house at the moment, but with so much stock on the market, buyers can afford to take their time.

PS - We are selling, but it has nothing to do with Libya, Egypt, PIIGS, China, Obama, the price of oil, carbon tax or any other random event you can think of. We have simply bought another house.
 
PS - We are selling, but it has nothing to do with Libya, Egypt, PIIGS, China, Obama, the price of oil, carbon tax or any other random event you can think of. We have simply bought another house.

LOL. But the PIIGS and the solar flares and the... stuff, come on think about it man!

Craig, what do you mean ‘your way’? state? City? Suburb? PPOR or IPs?
 
Left the door wide open with this thread for the property crash pushers thats for sure.:eek:

My area Shoalhaven.
Yes it has slowed. Still moving the better properties. Sold signs still popping up.I would call it balanced as we havent had anything resembling a heated market since 2001-2003 so less chance of a significant correction.
Rents still on the increase and will probably continue to do so.
We had a slight kick up over the last year but prices still close to the 2001 boom.
 
I posted recently on my blog about an increase in properties in my local suburb of Brighton (upmarket beachside suburb in Adelaide):
http://www.bullionbaron.com/2011/02/adelaide-beachside-housing-market.html

Many stagnant on the market are $1M+, there's the potential for Adelaide to have their very own beachside house price crash IMO. There was an article that popped up a couple of days after I wrote the above pointing out it was similar in other beahcside markets (Adelaide):
http://www.adelaidenow.com.au/ipad/househunters-walk-the-golden-miles/story-fn6br97j-1226004664626

On the other side of the fence my Brother recently (last 6 weeks) sold his house in much more affordable Para Hills, took 1 house open to get 4 offers and they sold during the week following (sub $400k family home)... so clearly things aren't all bad in all areas.
 
LOL. But the PIIGS and the solar flares and the... stuff, come on think about it man!

Craig, what do you mean ‘your way’? state? City? Suburb? PPOR or IPs?
your way , state, street all or any of the above, its just a look at the market way prior the numbers a coalated in three months , when the news printed is all old news.
 
the home we offered on had 3 offers on it in the first week , and has sold , but another we have seen has gone from fair market value ( i would have thought) of 570 to 550 to 530, i believe he will take 500 to the owners,
 
Properties are slow above 400K.

In our subdivision there are a few properties over 400K that have been on the market for a while, I have had a look at a some of them and the main reasons IMHO that they haven't sold are:

1. Over priced by 120K, 50K etc.
2. Poor colour schemes eg. in kitchen; purple or almost black
3. Poor housekeeping eg. clutter and or not clean especially bathrooms

Now 2 have other properties have sold in the last 2 months, neat & tidy and priced right at 520K & 550K.


Our acid test will come shortly as we are putting our PPOR up for sale.


Regards
Sheryn
 
each area to its own but every thing is over 400k thisaway, and i don't care much for the property doomers they are likly to be sour inside for being wrong for so long , so they will give it when they can, but who care about those who beat the same drum for so long anyway,:eek:
 
Back
Top