Hiya
For your reading pleasure
http://www.news.com.au/money/proper...mid-winter-chill/story-e6frfmd0-1226101104435
For your reading pleasure
http://www.news.com.au/money/proper...mid-winter-chill/story-e6frfmd0-1226101104435
Where is market heading?
- Thread starter virgo
- Start date
Hiya
For your reading pleasure
http://www.news.com.au/money/proper...mid-winter-chill/story-e6frfmd0-1226101104435
Spruik it up. Real Estate Institute of Australia president Pamela Bennett looks after the interest of only real estate agents. She has a vested interest in trying to prop up the market.
I dont know about Sydney, but this story is the complete opposite of the reality in Melbourne.
Melbourne went up well over the past couple of years. Too far in some locations from what I read.
Time for another capital/state to cycle up.
Spread your eggs around.
Time for another capital/state to cycle up.
Spread your eggs around.
You may have not seen the comments published by The Chamber of Commerce and Industry Western Australia that they have revised its gross state product from 5.7 per cent to 6.25 per cent and the chamber expects the growth rate to accelerate to a whopping 7 per cent by 2012-2013, boosted by the resource sectors strong export sales.
So is it time to get into the market and start looking for a residential property rental investment? Many rental property investors will say, it’s the time invested, not the timing. But could now relate to the timing? What about looking in Karratha or South Hedland?
So is it time to get into the market and start looking for a residential property rental investment? Many rental property investors will say, it’s the time invested, not the timing. But could now relate to the timing? What about looking in Karratha or South Hedland?
In the outer Sydney suburbs where I'm looking, good stock sells very quick.
I did pickup a unit the other day yielding 8% but in general the vendors aren't very negotiable so I haven't been very succesful with my offers.
I haven't looked at Melbourne for a few months but I think if interest rates look like they will go down, Melbourne prices could start going up again.
You may have not seen the comments published by The Chamber of Commerce and Industry Western Australia that they have revised its gross state product from 5.7 per cent to 6.25 per cent and the chamber expects the growth rate to accelerate to a whopping 7 per cent by 2012-2013, boosted by the resource sectors strong export sales.
So is it time to get into the market and start looking for a residential property rental investment? Many rental property investors will say, it’s the time invested, not the timing. But could now relate to the timing? What about looking in Karratha or South Hedland?
Yup, WA is on my radar for sure. As is QLD.
Not Karratha or South Hedland for me, the entry price is too high. Would result in too much of my risk in one location. I will be lookign elsewhere in WA. Probably boring places that most folks aren't interested in.
One high result and the spruikers are in full-on party mode.
Lets give it a few weeks and see if auction results don't fall back to earth.
Lets give it a few weeks and see if auction results don't fall back to earth.
BINGO. Same response everytime. Spruik,ponzi,specufest, etc etc
It wasnt even a high result. 6 - 12 months ago, this would have been labelled a bad weekend of auction results, now it a high? Really shows how bad the market in Melbourne is at the moment.
Buyers market in Perth, has been for some time. Who knows a couple of interest rates and perhaps things may improve.
On another note, NZ is looking very good, investors are starting to jump in. It is not a rising market however there has been some positive reports regarding their economy and their $ has been doing OK of late.
Cheers, MTR
On another note, NZ is looking very good, investors are starting to jump in. It is not a rising market however there has been some positive reports regarding their economy and their $ has been doing OK of late.
Cheers, MTR
To quote AMP Capital chief economist Shane Oliver: "Victoria will avoid a US-style property crash which saw prices plunge by 30 per cent. Instead, house prices will continue their single-digit slide into 2012 before stagnating for five to 10 years as wages catch up with a median house price which has climbed 133 per cent since 2000."
Couldnt agree more with this statement. I guess at least this will get rid of the pseudo investors that made money on every dud property the bought over the last few years.
Heh good ol' Shane Oliver....He said the ASX would reach 8000 by 2008
Well his opinion agrees with the principle that property moves in cycles, albeit his cycle is a bit longer than the 7 - 10 years most people agree with. Roughly speaking, you are looking at a couple years of decline, a couple of stagnation and a couple years increase. How much of a decline and increase varies.
We are only 6 months into the couple years of decline. I think that, considering the extended rise Melbourne has had, we are in for an extended decline, to compensate.
He might be right in this case. In a slow market such as this the people who suffer are those that buy:
a) On the outer-fringe of the metropolitan areas
b) People who purchased properties off the plan in the middle of the boom to access the FHOG boost etc
If you purchase property in good locations you won't have a problem. I don't see my properties dropping in value because they are all landed inner-city blocks.
a) On the outer-fringe of the metropolitan areas
b) People who purchased properties off the plan in the middle of the boom to access the FHOG boost etc
If you purchase property in good locations you won't have a problem. I don't see my properties dropping in value because they are all landed inner-city blocks.
