Follow, retweet @dailypinster




Post new topic Reply to topic  [ 2480 posts ]  Go to page 1, 2, 3, 4, 5 ... 166  Next
Author Message
 Post subject: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 4:42 am 
Offline
Under CAB Investigation

Joined: Feb 24, 2008
Posts: 1606
Third interest rate hike...
http://www.news.com.au/business/money/s ... 10,00.html
Offers from developers...
http://www.dailytelegraph.com.au/news/h ... 5804948858


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 4:50 am 
Offline
Under CAB Investigation

Joined: Nov 9, 2009
Posts: 1503
Location: Doorway of an old Hotel
DSE3Br wrote:


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 4:58 am 
Offline
Of Systemic Importance
User avatar

Joined: Sep 18, 2007
Posts: 5561
Melbourne is going feckin mad

Quote:
$910m property boom hits home

Jubilant vendors watched as buyers paid millions of dollars more than asking prices for the 775 homes that sold at auction.

Pundits dubbed the day Supersonic Saturday.

Real estate agents are celebrating today, having earned more than $27 million in commission payments in the past week.

Stunned bystanders watched the price of a three-bedroom terrace house in Albert Park soar to $1.45 million, more than 70 per cent above reserve. Auctioneer David Evans was "staggered" by the result

Real Estate Institute of Victoria chief executive Enzo Raimondo said median house prices could rise as high as $530,000 next year. And the median would hit $1 million by 2020, Mr Raimondo said.


It's all very 2006 isnt it.


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 6:24 am 
Offline
Under CAB Investigation

Joined: Feb 24, 2008
Posts: 1606
Correct me if I'm wrong but the developers in my second link won't get finance if they can't sell off plans? I'd be mighty p1ssed if my $600,000 shoe box in the Westies just dropped 10% when it's already a guaranteed cashflow loss on completion. My girlfriend's friend just put down a deposit on and off plans apartment mileage from Brisbane CBD to get a "foot on the ladder". Scary stuff.


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 8:54 am 
Offline
IMF'd

Joined: Sep 13, 2007
Posts: 31334
Location: Tullamore
Quote:
Real Estate Institute of Victoria chief executive Enzo Raimondo said median house prices could rise as high as $530,000 next year. And the median would hit $1 million by 2020, Mr Raimondo said.

Ah, straight line economic forcasting gets another mental-I'm an utter gobshite spokesman.

_________________
"It is impossible to design a system so perfect that no one needs to be good."

So long and thanks for all the fish.


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 9:08 am 
Offline
Nationalised
User avatar

Joined: Jun 24, 2008
Posts: 10232
Location: South of the Border (Down Mexico Way)
yoganmahew wrote:
Quote:
Real Estate Institute of Victoria chief executive Enzo Raimondo said median house prices could rise as high as $530,000 next year. And the median would hit $1 million by 2020, Mr Raimondo said.

Ah, straight line economic forcasting gets another mental-I'm an utter gobshite spokesman.

Next up - demographics.


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 12:06 pm 
Offline
Under CAB Investigation

Joined: Oct 29, 2007
Posts: 1678
Location: ENGLAND
Signal of a commodities top?

_________________
IT'S DIFFERENT THIS TIME


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 12:23 pm 
Offline
First Time Buyer

Joined: Nov 9, 2008
Posts: 91
As long as China keeps growing, Oz will keep booming.


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 2:02 pm 
Offline
Under CAB Investigation
User avatar

Joined: Apr 23, 2008
Posts: 2965
Location: In exile
Everyone's a little sheepish about calling Oz I notice.

I say bubble but the China point is valid.

_________________
Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.- JK Galbraith

Taxes are what we pay for civilized society. -- Oliver Wendell Homes.


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 2:06 pm 
Offline
Under CAB Investigation

Joined: Nov 13, 2006
Posts: 1919
Location: Stuck in Ahernistan
How do I short oz property?


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 4:23 pm 
Offline
IMF'd

Joined: Sep 13, 2007
Posts: 31334
Location: Tullamore
jcsmith wrote:
How do I short oz property?

Same way as you short property anywhere else. Short those holding the mortgages, selling houses, arranging credit etc.

_________________
"It is impossible to design a system so perfect that no one needs to be good."

So long and thanks for all the fish.


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 4:44 pm 
Offline
Under CAB Investigation

Joined: Nov 9, 2009
Posts: 1503
Location: Doorway of an old Hotel
Melbourne is a difficult call . Lots of sub prime lending , Tabloid media scaring people with talk of ' getting on the ladder ' mainstream media at it as well with talk of the average house costing 1 million in 10 years time .
Economy is doing well and rents are going up . All banks fine with no bailouts .

Interest rates are on the rise , almost by the month . There was an economist on TV saying he could not understand how prices wee going up along with interest rates . He advised people not to buy but to rent and save instead as and I quote ' House prices always come back to affordability at some stage '

I would say a small bubble which will burst when the first time buyers grant runs out and interest rates hikes kick in .
We can't all be as dramatic as Ireland .


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 4:49 pm 
Offline
Nationalised
User avatar

Joined: Jun 24, 2008
Posts: 10232
Location: South of the Border (Down Mexico Way)
everybody knows wrote:
.....
We can't all be as dramatic as Ireland .

How about Japan or California or Dubai or Spain or Bulgaria or Florida?


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 5:15 pm 
Offline
Under CAB Investigation

Joined: Nov 9, 2009
Posts: 1503
Location: Doorway of an old Hotel
What Goes Up... wrote:
everybody knows wrote:
.....
We can't all be as dramatic as Ireland .

How about Japan or California or Dubai or Spain or Bulgaria or Florida?



Nope , none of the above . Average house prices in Melbourne are not that much over heated . Could always move up a couple of gears but unlikely given interest rate rises .


Top
 Profile  
 
 Post subject: Re: Ominous signs in Australia
PostPosted: Sun Nov 29, 2009 5:23 pm 
Offline
Nationalised
User avatar

Joined: Jun 24, 2008
Posts: 10232
Location: South of the Border (Down Mexico Way)
everybody knows wrote:
Nope , none of the above . Average house prices in Melbourne are not that much over heated . Could always move up a couple of gears but unlikely given interest rate rises .

Image

http://www.myrp.com.au/melbourne_house_prices.do


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 2480 posts ]  Go to page 1, 2, 3, 4, 5 ... 166  Next


Who is online

Users browsing this forum: Yahoo [Bot] and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Follow, Retweet @dailypinster



Pyramid Built, Is Better Built! - Latest Property Discussions www.thepropertypin.com