House prices up again

[Dry Rot]

Link to it ya bastard!

Sorry about that - fixed now.

 

[dmc333]

Sorry about that - fixed now.

Cheers DR.

 

[Marcel Proust]

Up 8.8%

Average price million

 

[Rotayjay]

It's like gravity. First home owners grant? Prices go up. Interest rates go down? Prices go up. Tax breaks for investors? Prices go up. Homebuilder Scheme? Prices go up. Australia has the Midas touch on its real estate. Every measure, everything you touch in the real estate world turns to gold - to higher house prices.

 

[Stan_Darsh72]

It's like gravity. First home owners grant? Prices go up. Interest rates go down? Prices go up. Tax breaks for investors? Prices go up. Homebuilder Scheme? Prices go up. Australia has the Midas touch on its real estate. Every measure, everything you touch in the real estate world turns to gold - to higher house prices.

It is right now a big issue facing the Anglo world, NZ house prices are ****ed, Canada the same and the US is also screwed.

Having soon to be 2 generations shut out of the property market is a recipe for disaster

 

[Baltimore Jack]

Mate of mine bought a house for $950k in December last year with a 6 month settlement date in May

Real Estate agent spoke to him on the weekend and said if he wanted to, he could get $1.25M for it on Settlement Day

 

[Messenger]

It's like gravity. First home owners grant? Prices go up. Interest rates go down? Prices go up. Tax breaks for investors? Prices go up. Homebuilder Scheme? Prices go up. Australia has the Midas touch on its real estate. Every measure, everything you touch in the real estate world turns to gold - to higher house prices.

Every measure you’ve described has done exactly what it was designed to do. The governments natural constituency are people who are already halfway up the ladder, not the people who can’t get on.

 

[QuietB]

Mate of mine bought a house for $950k in December last year with a 6 month settlement date in May

Real Estate agent spoke to him on the weekend and said if he wanted to, he could get $1.25M for it on Settlement Day

That is completely insane. I guess that is what happens when you pump a few hundred billion into an economy (stimulus, super withdraws, tax cuts, etc.)

 

[Ned_Flanders]

That is completely insane. I guess that is what happens when you pump a few hundred billion into an economy (stimulus, super withdraws, tax cuts, etc.)

its a VERY lopsided market

we attended two auctions on the weekend, one smashed the reserve price, and one was an epic fail. A place on our street has switched to rental after failing to sell at auction in February and then private sale in March.

also saw in our local area (walking the dogs) one development thats been effectively abandoned, one that is being slow walked, and another thats being put up for sale. Yet two properties near us have put up planning app notices over the weekend


my gut is this isnt a bubble, just a correction of the pent up demand (to sell and to buy) from 2020

 

[Messenger]

its a VERY lopsided market

we attended two auctions on the weekend, one smashed the reserve price, and one was an epic fail. A place on our street has switched to rental after failing to sell at auction in February and then private sale in March.

also saw in our local area (walking the dogs) one development thats been effectively abandoned, one that is being slow walked, and another thats being put up for sale. Yet two properties near us have put up planning app notices over the weekend


my gut is this isnt a bubble, just a correction of the pent up demand (to sell and to buy) from 2020

I don’t think those cookie cutter townhouses are going to hold their value. If you’ve got any land at all, that’s what is going to drive the price up.

 

[Ned_Flanders]

I don’t think those cookie cutter townhouses are going to hold their value. If you’ve got any land at all, that’s what is going to drive the price up.

what we are observing is if you have a pretty house, on the good street, in the good area - its a ****ing gold rush

if you have a compromised property (small rooms, bad layout, small block, only one bathroom, etc), they are struggling.

its why im not convinced this is a bubble, people arent throwing money at just any property

 

[Rad Roo]

Good news, appearance of market in the up boosts confidence, same can’t be said of certain sweet Jesus who is afraid of responding to me to debate issues man to man.