poll results here sort of close to that poll..
brissy, outer melb and melb leading the charge
Which areas do you think will experience strong (>15%) growth in 2008?
- Thread starter Perp
- Start date
poll results here sort of close to that poll..
brissy, outer melb and melb leading the charge
hi willair
looking for something in the kingscliff, tweed coast area that would be good
mermaid beach and palm beach,
and in the salt development.
just checking if my data is right and there potential growth and what they have done last 12 months my data is heron todd white I think 2007 but doesn't say and to big to uplink.
but thanks for the links
looking for something in the kingscliff, tweed coast area that would be good
mermaid beach and palm beach,
and in the salt development.
just checking if my data is right and there potential growth and what they have done last 12 months my data is heron todd white I think 2007 but doesn't say and to big to uplink.
but thanks for the links
I voted for Cairns...particular suburbs starting with "M" have been touted as having quite a bit of growth in them for 2008. We still have increasing tourism and with it the people who need to be housed. The university is expanding and so areas around the northern beaches and Smithfield are good there. And of course Machans Beach seems to have skyrocketed over the past couple of years, with more houses coming onto the market at even higher prices.
It would have been nice if the the 10% and 15% gains lasted forever but we all know that it's not possible.
Also, if the recession in the US worsens their appetite for Chinese goods will be reduced and China won't need to import as much raw materials from us.
A slowdown in our mining at this stage of the investment cycle could mean trouble because many miners who have been spending big for years buying IP's and shares could find themselves with little or no employment and could be forced to sell.
Also, considering the recent and potential further damage to our share market, many investors will undoubtedly lose money and I am guessing that some of us will be forced to sell 1 or more IP's to fund our margin calls.
IMHO
Cheers
Also, if the recession in the US worsens their appetite for Chinese goods will be reduced and China won't need to import as much raw materials from us.
A slowdown in our mining at this stage of the investment cycle could mean trouble because many miners who have been spending big for years buying IP's and shares could find themselves with little or no employment and could be forced to sell.
Also, considering the recent and potential further damage to our share market, many investors will undoubtedly lose money and I am guessing that some of us will be forced to sell 1 or more IP's to fund our margin calls.
IMHO
Cheers
Mmmm, I wasn't going to post my opinion because I own property in the area and didn't want to be accused of being biased; but I think the coastal regions from Bundaberg ( Bargara, Innes Park, Burnett Heads) will show at least 10-12% growth in 2008 (see http://www.somersoft.com/forums/showthread.php?t=36875)
Many of the residents in the area are comfortably retired are are not concerned with interest rate fluctuations. It is close to beaches and an emerging 'cafe and upmarket pub culture', and compared to similar areas just to the South, ocean-front properties are relatively affordable. It has three nice golf clubs as well as good schools and with even more infrastructure being put in place, I think the area has a good future.
Phil
Many of the residents in the area are comfortably retired are are not concerned with interest rate fluctuations. It is close to beaches and an emerging 'cafe and upmarket pub culture', and compared to similar areas just to the South, ocean-front properties are relatively affordable. It has three nice golf clubs as well as good schools and with even more infrastructure being put in place, I think the area has a good future.
Phil
Thanks for that, Sailor. I was wondering how we went in 07. I big heap happy chappy.
In reference to another post re the M suburbs, it would appear to hold some truth going by these figures.
I have been looking at some properties with development potential in the Res 2/3 areas of Manoora for a while now. It would seem that one is able to get a 1000sq m allotment with an old, but habitable, house for around the $300K mark.
Just need to do the sums now to make a decision.
A far as your castle is concerned, I reckon that you would still be sipping champers after the 44% plus the value add after that WOW reno.
Cheers Chrisv
Ps. Hows that new drill treating you??
Yes, I was thinking you would be v happy with your Cairns property. Are you celebrating too?Thanks for that, Sailor. I was wondering how we went in 07. I big heap happy chappy.
A far as your castle is concerned, I reckon that you would still be sipping champers after the 44% plus the value add after that WOW reno.
Cheers Chrisv
Ps. Hows that new drill treating you??
Champers flowed last night...that's for sure.
Ryobi has a new mate...Little Ryobi, who is an orbital sander. (I really should buy shares in Bunnings to get some return on my investment with them.
)
I'm surprised no one is ticking Hobart, any reasons??
I'm surprised no one is ticking Hobart, any reasons??
Unless there has been a change in the population movement patterns in Tassy recently, I think you'll find that any cap growth there will be short-lived and probably mainly investor driven. Like in 2001-02.
Which means that the prices will either return to back to where they were after the investors leave, or simply stop growing for a decent while.
Check with the local Council or the ABS to find out the movements of the population in the last 5-10 years.
I agree with Daz ... Perth is definately still on the radar.
The mining industry needs to employ an additional 42,000 workers over the next 12 years (Straight from the mining industry spokesman's mouth at a recent marketing forum) add to this the subsidiary businesses that feed the mining companies and even the growers who feed everyone and you have a continuing housing boom.
Builders are telling me their display home traffic and leads since Jan 1st are very strong (Don't believe everything the "West Australian" writes)
"Thar's gold in tham thar bricks" ...
The mining industry needs to employ an additional 42,000 workers over the next 12 years (Straight from the mining industry spokesman's mouth at a recent marketing forum) add to this the subsidiary businesses that feed the mining companies and even the growers who feed everyone and you have a continuing housing boom.
Builders are telling me their display home traffic and leads since Jan 1st are very strong (Don't believe everything the "West Australian" writes)
"Thar's gold in tham thar bricks" ...
Just read in one of Brisbane's local papers that annual price increases are expected to hit 25% by middle of this year. For the year ended December 2007, preliminary figures indicate that growth will be in the order of 23%.
Brisbane is going to the one of the standout performers for 2008.
Brisbane is going to the one of the standout performers for 2008.
what about Sandy Beach NSW?
isn;t there another bypass headed thru that area?
isn;t there another bypass headed thru that area?
MELBOURNE is caught up in a property boom reminiscent of the Sydney market five years ago, with house values in the Victorian city surging 25 per cent last year.
The average value of a house in Melbourne jumped from $370,059 in December 2006 to $463,488 in December 2007, according to data just released by Australian Property Monitors.
APM’s managing director Michael McNamara said if that trajectory continues, by 2009 Melbourne could overtake Sydney as Australia’s most expensive city to buy a house. But he thinks the current level of growth is unsustainable.
“I mean 25 per cent growth in house values is almost becoming ridiculous. People can only afford so much.”
Melbourne’s boom compared to a rise of just 4.8 per cent over the same period in Sydney, where house values rose to $553,357.
Melbourne’s units also did well, rising 14.7 per cent in 2007, compared to a 1.7 per cent rise in Sydney’s units.
“Sydney apartment values are now $370,000 and Melbourne unit values are barely 10 per cent cheaper at $335,000. Melbourne properties have never been within 10 per cent of Sydney,” Mr McNamara said.
Brisbane and Adelaide also recorded stellar years. Brisbane’s house values rose 20.1 per cent to $425,368, while its units rose 11.3 per cent to $322,127.
Adelaide’s houses rose 20 per cent to $400,649, while its units jumped 24.1 per cent to $261,964.
Mr McNamara said it’s easy for property markets to get caught in upward spirals.
“If vendors start to get more money for properties than they expect then they generally plough that money back into their next purchase – and so the cycle goes.”
Confidence to wane
Broader economic and financial conditions – such as uncertainty in the stock market, global economic volatility, rising interest rates and record petrol prices – are likely to have a dampening effect on buyer confidence this year.
“We should see the Melbourne property market start to slow and reach its peak towards the end of this calendar year.”
Perth is also likely to experience a slowdown in 2008 after proving to be quite resilient in 2007.
“Property markets are like great big cruise liners, they take a long time to slow up and stop. They don’t have the same kind of responsive volatility that stock markets have,” Mr McNamara said.
The Perth market started to slow in 2007 with house values rising just 1.7 per cent to $508,776 and units up 0.7 per cent at $348,464. APM expects Perth values will fall by up to 10 per cent this year.
The stagnant Sydney market, on the other hand, should see some growth in 2008. After several years of almost no growth at all, Sydney is starting to look cheap compared to other capital cities.
APM is tipping Sydney units will rise by 5 to 10 per cent this year.
Other centres
Canberra house values rose 14.6 per cent in 2007, to $506,570, with unit values up 11.4 per cent to $346,901.
Darwin house values were up 5.3 per cent for the year to $443,917, while units fell 2.1 per cent to $283,726.
House values in Hobart jumped 11.3 per cent to $280,853, and the city’s units rose 18.9 per cent to $246,361.
The average value of a house in Melbourne jumped from $370,059 in December 2006 to $463,488 in December 2007, according to data just released by Australian Property Monitors.
APM’s managing director Michael McNamara said if that trajectory continues, by 2009 Melbourne could overtake Sydney as Australia’s most expensive city to buy a house. But he thinks the current level of growth is unsustainable.
“I mean 25 per cent growth in house values is almost becoming ridiculous. People can only afford so much.”
Melbourne’s boom compared to a rise of just 4.8 per cent over the same period in Sydney, where house values rose to $553,357.
Melbourne’s units also did well, rising 14.7 per cent in 2007, compared to a 1.7 per cent rise in Sydney’s units.
“Sydney apartment values are now $370,000 and Melbourne unit values are barely 10 per cent cheaper at $335,000. Melbourne properties have never been within 10 per cent of Sydney,” Mr McNamara said.
Brisbane and Adelaide also recorded stellar years. Brisbane’s house values rose 20.1 per cent to $425,368, while its units rose 11.3 per cent to $322,127.
Adelaide’s houses rose 20 per cent to $400,649, while its units jumped 24.1 per cent to $261,964.
Mr McNamara said it’s easy for property markets to get caught in upward spirals.
“If vendors start to get more money for properties than they expect then they generally plough that money back into their next purchase – and so the cycle goes.”
Confidence to wane
Broader economic and financial conditions – such as uncertainty in the stock market, global economic volatility, rising interest rates and record petrol prices – are likely to have a dampening effect on buyer confidence this year.
“We should see the Melbourne property market start to slow and reach its peak towards the end of this calendar year.”
Perth is also likely to experience a slowdown in 2008 after proving to be quite resilient in 2007.
“Property markets are like great big cruise liners, they take a long time to slow up and stop. They don’t have the same kind of responsive volatility that stock markets have,” Mr McNamara said.
The Perth market started to slow in 2007 with house values rising just 1.7 per cent to $508,776 and units up 0.7 per cent at $348,464. APM expects Perth values will fall by up to 10 per cent this year.
The stagnant Sydney market, on the other hand, should see some growth in 2008. After several years of almost no growth at all, Sydney is starting to look cheap compared to other capital cities.
APM is tipping Sydney units will rise by 5 to 10 per cent this year.
Other centres
Canberra house values rose 14.6 per cent in 2007, to $506,570, with unit values up 11.4 per cent to $346,901.
Darwin house values were up 5.3 per cent for the year to $443,917, while units fell 2.1 per cent to $283,726.
House values in Hobart jumped 11.3 per cent to $280,853, and the city’s units rose 18.9 per cent to $246,361.
