Your neighbourhood

[weg]

Thought it would be interesting to see how everyones individual neighbourhood is going in terms of no. of sales, price and the length of time on the market, compared to end of 07.

I live 5km north of the Adelaide CBD. There seem to be slightly more homes than usual on the market now, however I think this is because some of the older listing are not selling, rather than more people deciding to sell. Prices seem consistent with those a few months ago, so I'd say vendors are reluctant to drop price.

 

[Stella]

I've noticed 8 houses for sale in a around the corner from me - street is probably 1k long. All except 1 have come on in the last month or so & that 1 took around 3 months to sell. None of the others sold yet. Two more signs appeared today.
All on the high side of street overlooking golf course.

Cheers
Stella

 

[LynnH]

There's nothing for sale in our neighbourhood (acreage and part-acreage properties) - not surprising really, as it's a fairly tightly held patch, with activity usually only seen during the heights of booms.

Another part of our suburb comprises waterfront and canal-front properties - there are a lot of properties on the market in this area at the moment. A number of them have gone to auction and been passed in, one house has been to auction twice without being sold, and several properties are on their third or fourth agent. I've never seen anything like this in the 13+ years we've been living here!

Cheers
LynnH

 

[Dazz]

Why are most things for auction in Brisbane ??

I bought the Saturday paper with the RE section in it, but after thoroughly reading it, was no wiser as to the current market, as everything was for auction. Daunting unless you are a local and have your finger on the pulse in every little suburb.

 

[LynnH]

Daz

The trend in Brisbane used to be to auction only the higher-priced properties with most properties being sold by private treaty, but of late the local market seems to have caught Melbourne's 'auction fever', methinks.

Last weekend (if that is the newspaper you're referring to) was a 'mega-auction' weekend - from memory, about the second or third one we've had in the past 2 years. Unfortunately, the clearance rate was pretty low (less than 40%, I believe - bit hard to tell, as details of some properties that didn't sell never make it into the newspapers).

Can imagine that it could be a little daunting for interstate buyers - it's a bit daunting for some of the locals, too, with prices up and down and all over the place! Vendors' expectations still seem to be rather inflated and I think a lot of purchasers are being somewhat cautious.

Perhaps some other locals have a better handle on things ATM??? I'm looking at investing in Melbourne, so am not really up to date with things here.

Cheers
LynnH

 

[Minxdamanx]

Safety Bay, WA

Lots on the market around here. New signs popping up regularly just within our little area. Very few "under offer" signs appearing.

We recently bought a duplex half having watched it drop from 300K to 279K. Our offer of $270K was accepted.

There is a lovely little villa around the corner from our home that has been on the market since December. Started at $290K - down to $255K as of last weekend's paper.

A 3 bedder house in Warnbro has dropped also from $310K to $289K.

These are just the ones I've taken notice of.

 

[jsj]

I live in Bushland Beach, just out from Townsville. The prices here are still rising nicely. In 03 land in the new subdivisions was 56k, now 165k. Beachfront in 02 was 120k and now 515k. Houses which sold early last year have been re sold this year for 20% more. Still a fair bit left in it too with some big commercial developments coming to the area.

 

[wylie]

Why are most things for auction in Brisbane ??

I bought the Saturday paper with the RE section in it, but after thoroughly reading it, was no wiser as to the current market, as everything was for auction. Daunting unless you are a local and have your finger on the pulse in every little suburb.

Auctions seem to be more common as LynnH said, and it does make it hard to keep a "weather eye" on values. However, generally Brisbane is not really auction oriented like Melbourne, so maybe things are changing slowly towards more auctions, or perhaps it is just that in a quickly rising market, people are worried if they put a price on, they will have under priced, and an auction could be the best way to find the market value.

The first ten or thereabouts pages of last Saturday's paper was for Ray White, which seems to be very pro-auctions (my area anyway).

When my mum was selling real estate the company with the most number of adverts used to get the front pages of the real estate section of the paper, so Ray White seemed to be pushing for lots of dollars on advertising. This seems to still be the case, but I don't know if the same rules apply about who gets the front pages.

Things here in my local area (Coorparoo) seem to have slowed down a little, with houses being for sale for a bit longer than a few months ago. The same sentiment was made by the principal of one of the local agents in his letterbox drop today.