real estate experts expect the list to continue to grow.
No shit Sherlock?
Every year we add new Suburbs to the ever expanding urban sprawl that is Perth and every year, some people build some bloody big houses in those suburbs. So of course, in five or six years when they sell the house that cost them a million dollars to build for a million dollars, REIWA will claim that these new areas are now "miilion dollar suburbs".
Rockingham and Mandurah are million dollar suburbs according to REIWA. Meanwhile they have medians of 435k and 330k respectively.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Get it straight, Mining boom is over dickheads. Low interest rates are making interest servicing costs almost free. Buy a $400,000 unit and pay $20,000 p.a. in interest. $400 per week. The bank has become the landlord. They get the rent with no costs. 0 costs, you pay to play. Every time. If the tenant destroys the property it hurts the tenant not the bank. The indépendant landlord is only going to get the real shit to rent from him. So landlords here is a tip for free, you are going to have to handle the tenants no one wants. The tenants that can get up in the morning, wash themselves get on the bus to work and carry out their duties at work will "buy" their own place. Then pay "interest" (rent) to the bank for the next 35 years. So "private" landlords are going to need thick pvc gloves to handle the shit. Good luck. Your future has been cast. So on your knees bitches.
More data the Bears say is wrong as it disagrees with their world view.
My take on it is this.
I don't think so many sales above normal levels have been happening at the higher end it is the construction of new large houses that is driving this trend. Construction of new million dollar homes all over the place is what is pushing suburbs into the million dollar price bracket.
I said this a few weeks ago, construction of large houses in the more expensive range $800-$1.5 million is very strong. Upgraders tend to build as they cannot find what they want in the right locations. Buy a subdivided blocked in a location you like and stick a massive modern home on it.
If Jimbo looked around outside of Rockingham it might notice it.
More data the Bears say is wrong as it disagrees with their world view.
My take on it is this.
I don't think so many sales above normal levels have been happening at the higher end it is the construction of new large houses that is driving this trend. Construction of new million dollar homes all over the place is what is pushing suburbs into the million dollar price bracket.
I said this a few weeks ago, construction of large houses in the more expensive range $800-$1.5 million is very strong. Upgraders tend to build as they cannot find what they want in the right locations. Buy a subdivided blocked in a location you like and stick a massive modern home on it.
If Jimbo looked around outside of Rockingham it might notice it.
Being a twat again Mike. As usual.
Read my post. I said..
Quote:
Since the early 2000's, there have been a lot of big bucks properties being built along the coast all the way from Burns Beach to Avalon. Our stock of high value properties increased dramatically. Now, according to REIWA, if one house in a suburb sells for a million plus, the whole suburb is branded as a "million dollar suburb".
I also said..
Quote:
Every year we add new Suburbs to the ever expanding urban sprawl that is Perth and every year, some people build some bloody big houses in those suburbs. So of course, in five or six years when they sell the house that cost them a million dollars to build for a million dollars, REIWA will claim that these new areas are now "miilion dollar suburbs".
You don't have to be genius to work out that if you build more houses, some of those houses will be worth over a million dollars. It doesn't mean that all the houses in the suburb are suddenly worth more money?
For REIWA to try and spin the idea that a suburb becomes a "million dollar suburb" as soon as one house in the area sells for over a million bucks smacks of total desperation.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
You don't have to be genius to work out that if you build more houses, some of those houses will be worth over a million dollars. It doesn't mean that all the houses in the suburb are suddenly worth more money?
For REIWA to try and spin the idea that a suburb becomes a "million dollar suburb" as soon as one house in the area sells for over a million bucks smacks of total desperation.
Reiwa did not say all houses in a suburb become million dollar properties.
Seems you are very desperate to try and talk down any one, any organisation or official data source which paints a positive picture of the future, why is that? Why are you so desperate?
The data is what it is, you try and talk down everything.
If I was a betting man it would appear you sold you're house thinking prices would fall, but if prices rise again it means you rent longer and need to buy in at a higher price costing you a great deal of money.
For some one who claims to have made a lot of money in recent weeks you don't sound like it.
Not a Freo supporter are you as that would explain a lot.
You don't have to be genius to work out that if you build more houses, some of those houses will be worth over a million dollars. It doesn't mean that all the houses in the suburb are suddenly worth more money?
For REIWA to try and spin the idea that a suburb becomes a "million dollar suburb" as soon as one house in the area sells for over a million bucks smacks of total desperation.
Its like many areas of Australia, they knock down an old weatherboard and built a double story mcmansion on credit. And then all of a sudden a few of these sell down the track and it looks like prices in the area haverisen, when all that's really happened is, people have just borrowed more money to build much bigger and more expensive homes, but that same shitbox that has not been touched has gone nowhere or even down in value, yet the median is still showing a rise because of surrounding mcmansions built on credit
No rocket science going on here, just a shitload more debt distorting the overall figures.Some bulls see the latest stats in their area and think that shitbox weatherboard they bought has surged in value, even though the reality is , it has gone nowhere or even backwards. This is also the reason prices seem to go up everywhere year after year, because shitboxes are always being knocked down and replaced with overleveraged mcmansions.
Reiwa did not say all houses in a suburb become million dollar properties.
No, they just implied it. For the gullible.
Quote:
Seems you are very desperate to try and talk down any one, any organisation or official data source which paints a positive picture of the future, why is that? Why are you so desperate?
I am not desperate. The mid to high end price range that I want to buy into is doing zilch at the moment. Every week the list of properties that I could buy is growing longer and they are not selling.
Quote:
The data is what it is, you try and talk down everything.
It isn't data though Mike. It is spin. If you add new suburbs to Perth every year and you build more houses, you are going to see an increase in the number of suburbs containing properties worth over a million. This is a "Bear shits in woods" story. Totally meaningless.
Quote:
If I was a betting man it would appear you sold you're house thinking prices would fall, but if prices rise again it means you rent longer and need to buy in at a higher price costing you a great deal of money.
Officially they have across the board. According to RP data, 0.75% since I sold. Meanwhile, my target market is doing worse than that.
Quote:
Not a Freo supporter are you as that would explain a lot.
Being local and having grown up as a regular attendee at South Fremantle WAFL matches, I naturally support the Dockers and I am a fully paid up member. I was there last night and I was at the GF last year. WTF has that got to do with the price of eggs (or houses)?
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
A new home is built and the higher costs of contruction puts it over a million. A home under a million gets a revamp and a pool and goes over a million. A sap nuvo landlord buys dog boxes in the eastern burbs and the price of them go NOWHERE in 7 years.
He feels cheated but he's trapped with decades worthd of debt, so he sticks with the 2005 rhetoric and jawbones endlessly about how great an investment property is. 7 years and where are perth property prices? 100% higher? 50% higher? Sorry, not even close.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
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.
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