Welcome Guest [Log In] [Register]


Reply
Will the Sydney median house price reach $1 million by the end of 2015?
Topic Started: 4 Sep 2014, 03:48 PM (22,843 Views)
Bardon
Default APF Avatar


Trojan
8 Sep 2014, 01:13 AM
+1

I's only because Shadow's prediction actually has a chance of being right that the bears are being so pedantic.
You don't hear people arguing whether 40% crash includes 39.9% or 40.1%. :lol
Arguing with a bear around here is akin to shooting fish in a barrel.
Profile "REPLY WITH QUOTE" Go to top
 
Shadow
Member Avatar
Evil Mouzealot Specufestor

Shadow
4 Sep 2014, 03:48 PM
The Sydney median house price hit $840K in July as measured by the Residex index.

With 17 months to go (from July), will the Sydney median house price hit one million dollars by the end of 2015, as measured by the Residex index?
Now up to $852.5K in August...
Edited by Shadow, 10 Oct 2014, 11:45 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
Profile "REPLY WITH QUOTE" Go to top
 
newjez
Member Avatar


Shadow
10 Oct 2014, 11:44 AM
Now up to $852.5K in August...
Just to save me going through a thousand odd posts, where are you getting your median from?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Profile "REPLY WITH QUOTE" Go to top
 
Shadow
Member Avatar
Evil Mouzealot Specufestor

newjez
10 Oct 2014, 05:02 PM
Just to save me going through a thousand odd posts, where are you getting your median from?
Try reading post #1 of this thread.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
Profile "REPLY WITH QUOTE" Go to top
 
Guest
Unregistered

Shadow
10 Oct 2014, 11:44 AM
Now up to $852.5K in August...

On the news last week, they mentioned it was around 690k.



"REPLY WITH QUOTE" Go to top
 
Sydneyite
Member Avatar


Guest
10 Oct 2014, 05:15 PM
Shadow
10 Oct 2014, 11:44 AM
Now up to $852.5K in August...

On the news last week, they mentioned it was around 690k.



Look up: http://australianpropertyforum.com/single/?p=8512718&t=10165488 :re:
For Aussie property bears, "denial", is not just a long river in North Africa.....
Profile "REPLY WITH QUOTE" Go to top
 
Shadow
Member Avatar
Evil Mouzealot Specufestor

Guest
10 Oct 2014, 05:15 PM
On the news last week, they mentioned it was around 690k.
Which index... ABS, RP Data, APM or REINSW? Units, houses, or all dwellings?

The data I'm referencing in the OP is the Residex index for houses only.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
Profile "REPLY WITH QUOTE" Go to top
 
Guest
Unregistered

Shadow
10 Oct 2014, 06:10 PM
Which index... ABS, RP Data, APM or REINSW? Units, houses, or all dwellings?

The data I'm referencing in the OP is the Residex index for houses only.
Eeiny meiny myni mo, which one...is the go.... Whatever was highest I assume.

They did not say , just what they reported to the millions watching it.


"REPLY WITH QUOTE" Go to top
 
Shadow
Member Avatar
Evil Mouzealot Specufestor

Drgonzo
7 Sep 2014, 07:59 PM
shadow
 
you see it going from the current $840K to no more than $878K by the end of next year?

I expect it to reach that figure by December this year (meaning the data for December itself, not the November data).
Well, we will see but I think you will be disappointed.
Now $875.5K in October 2014... http://australianpropertyforum.com/topic/10228939

Posted Image
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
Profile "REPLY WITH QUOTE" Go to top
 
Admin
Member Avatar
Administrator

Quote:
 
A quarter of Sydney suburbs now in million-dollar club

February 8, 2015
Sue Williams, Stephen Nicholls

The property boom in 2014 has bumped the median house price of one in every four Sydney suburbs over the million-dollar mark.

With Domain Group data showing the median house for the city overall leaping 14 per cent to $837,786 over the past year, now a total of 204 suburbs out of the more than 800 Sydney suburbs (including the Central Coast and Blue Mountains) are members of the formerly much more exclusive million-dollar club.

That's an incredible 25.5 per cent leap from just six months ago when only 173 had met the magic million mark.

"It's an extraordinary development in Sydney's fortunes," says Domain Group's senior economist, Dr Andrew Wilson.

"Sydney has not just broken through the 200th suburb barrier, it's absolutely smashed it.

"It's another astonishing indication of how expensive the Sydney market is and how prices have blown out in the middle price ring regions.

"Perhaps even more surprisingly, we're now also seeing a number of suburbs in the Shire and in the south having medians over $1 million and becoming relatively expensive places, so prices are being pushed up from the bottom, rather than being dragged up from the top."

Most of the inner west, a region that's seen prices rise by 18 per cent over 2014 to a median, generally, of $1,275,000, are now members of the millionaires' club. New entrants include Erskineville, Newtown, Enmore, Leichhardt, Croydon Park, Dulwich Hill and Chiswick.

Belle Property Newtown agent Prue Halcombe says the inner west's relative affordability has helped push up prices.

"We've now caught up to certain suburbs of the east," she said.

"People are buying here out of preference because they can afford it.

Helping the rise of these inner west suburbs into the million-dollar club has been the transformation of many of the houses from share-house dumps full of students to designer homes for growing families with expensive tastes.

The numbers are in stark contrast with the rest of Australia. Melbourne has only 49 million-dollar suburbs, up from 43 six months ago, Perth 24, down from 26, Adelaide seven – up only one from June 2014 – and Brisbane just five, a figure that didn't change in the second half of last year.

Associate professor Stephen Whelan of the school of economics at the University of Sydney, and a spokesman for the Australian Housing and Urban Research Institute, says the rise has come about as the result of several factors. "It's about relatively low interest rates which makes borrowing more affordable, increasing investor activity taking advantage of negative gearing and, on a more fundamental level, high demand and constraints on supply.

"But I've been a bit surprised that prices have risen at such a rate over the last two years. But I'd be even more surprised if it continued at that rate much into the future.

There is more construction going on, increasing supply and interest rates will go up at some point."

Real Estate Institute of NSW CEO Tim McKibbin, however, has recently revised his forecasts that price rises won't continue strongly after an explosive start to the year.

"It would be unrealistic to say there'll be another 25 per cent jump in the number of million-dollar suburbs this next six months or year," he says. "But I suspect we will continue down that path of strong growth in numbers."

Yet while the latest revelation is good news for home owners in those suburbs, it does drive property even further out of the reach of those least able to afford it.

Read more: http://news.domain.com.au/domain/real-estate-news/a-quarter-of-sydney-suburbs-now-in-milliondollar-club-20150207-1388if.html
Follow OzPropertyForum on Twitter | Like APF on Facebook | Circle APF on Google+
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Enjoy forums? Start your own community for free.
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy