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Prices expected to accelerate in Sydney’s Spring quarter; NOW OR NEVER FOR WORRIED BUYERS
Topic Started: 25 Sep 2016, 09:17 AM (7,492 Views)
Rufus
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John Frum
25 Sep 2016, 12:25 PM

but when I mentioned this in passing to a lot of the punters I bumped into (and yes they're generally a much friendlier bunch) they said that REAs have been calling am imminent boom in Brisbane for about 20 years, and prices have generally been pretty stable.

20 years is not correct. Maybe 7 years.
In 2004 median prices in Brisbane were equal to median prices in Melbourne.

I do agree that prices are more stable in Brisbane, probably rising at 4% to 6% until we get an event that changes it one way or another.
I can't see any reason for prices in Brisbane to boom. Unemployment is falling here, but under employment not so much.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Mick
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Simon_S
25 Sep 2016, 03:59 PM
Oh...So he had the money to cover his Mortgage but not the Rent? Funny that..........
He didnt have a mortgage thats the sad part, he bought his house in 1999 and had it paid off in 2010
Sold it in 2011 thinking prices were going to crash and banked the money but the interest he gets after tax on the savings doesnt cover the rent so his capitals getting eaten away
Cant buy back in now because he has less capital and the house prices near doubled since he sold
f***ed basically !

Quote:
 
hes made $223K in 5 years just in interest alone
Not even close and it gets less each year as the capital get eaten away :(
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herbie
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Rufus
25 Sep 2016, 04:33 PM
20 years is not correct. Maybe 7 years.
In 2004 median prices in Brisbane were equal to median prices in Melbourne.

I do agree that prices are more stable in Brisbane, probably rising at 4% to 6% until we get an event that changes it one way or another.
I can't see any reason for prices in Brisbane to boom. Unemployment is falling here, but under employment not so much.
With a bit of luck our looming inner city apartment oversupply just might help keep prices 'contained' - Well, here's hoping anyway ...

'Tho unless tha numptie Sydney investors get some sort of a kick in tha guts, they'll probably just all flock here 'n buy 'em?

Just pretty hard ta say all in all - For mine.
Edited by herbie, 25 Sep 2016, 04:42 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Rufus
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herbie
25 Sep 2016, 04:38 PM
With a bit of luck our looming inner city apartment oversupply just might help keep prices 'contained' - Well, here's hoping anyway ...

'Tho unless tha numptie Sydney investors get some sort of a kick in tha guts, they'll probably just all flock here 'n buy 'em?

Just pretty hard ta say all in all - For mine.
Yes I think it will. Mainly keep the price of units lower. There will be some rub off onto houses, although there are buyers who will only accept a detached house.

Very difficult to predict how much the oncoming supply will affect the market.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Jon Snow
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John Frum
25 Sep 2016, 12:25 PM
Also I'm looking at a couple of opportunities in I.T in the States (Amazon/eBay and the like are hoovering up aussie developers ATM) so I might just move there if the crash doesn't materialise soon.


Seattle real estate is a LOT cheaper than Bay area ... just sayin ... Bay Area makes Sydney RE look like a mildly warm market. I also like Seattle much more than SF. Parts of SF are downright dangerous. Plus, I like rain.
Speak when you are angry and you will make the best speech you will ever regret.
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Simon_S
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Mick
25 Sep 2016, 04:37 PM

Sold it in 2011 thinking prices were going to crash and banked the money but the interest he gets after tax on the savings doesnt cover the rent so his capitals getting eaten away
Cant buy back in now because he has less capital and the house prices near doubled since he sold
f***ed basically !


Not even close and it gets less each year as the capital get eaten away :(
I see your trying really hard Mick..

Quote:
 
He didn't have a mortgage that's the sad part, he bought his house in 1999 and had it paid off in 2010


So he could afford a Mortgage but couldn't afford the Rent................Really?

So hes unemployed Yeh........

And hes chosen a place with really high rent and hes out of a Job................

He can't buy back now because he has no job..............So who would give him a Mortgage?

Quote:
 
1999 and had it paid off in 2010

(This is the Part Mick where you say hes got a job but it pays so little he cant cover the rent with it either and the interest earned but somehow he managed to pay off a house in 11 years with this same job?)

Edited by Simon_S, 25 Sep 2016, 07:59 PM.
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Mick
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Simon_S
25 Sep 2016, 07:54 PM
So he could afford a Mortgage but couldn't afford the Rent................Really?
Yup, bought it in 1999 for 260k with a 200k loan, his mortgage repayents were sweet f*** all and he had it all paid off by 2010
His repayments at the start were like 250 bucks a week in 1999 and gradualy dropped to zero obviusly by 2010
Sold it for a million bucks in 2011 and rented a similar place, his rent was 750 a week in 2011 and I think its up to 840 a week now
Big jump from zero repayments on his mortgage to 840 a week on a similar house
Its been a hard lesson for him, his 1 million sale money is down to 800k now with all the rent coming out and a house like the one he sold now costs near 2 mil !
This is in inner west sydney
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Bardon
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herbie
25 Sep 2016, 04:38 PM
'Tho unless tha numptie Sydney investors get some sort of a kick in tha guts, they'll probably just all flock here 'n buy 'em?
The good ole ripple effect.
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John Frum
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Bardon
25 Sep 2016, 01:47 PM
It looks like you are heading stateside then and good luck with that.


Huh? Oh yeah, you're one of those elliot wave/cycle wack-jobs, right?

Guess it gets boring living in a backwater swamp like Brisbane. Crazy charts can help pass the time.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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Simon_S
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Mick
25 Sep 2016, 08:28 PM
Yup, bought it in 1999 for 260k with a 200k loan, his mortgage repayents were sweet f*** all and he had it all paid off by 2010
His repayments at the start were like 250 bucks a week in 1999 and gradualy dropped to zero obviusly by 2010
Sold it for a million bucks in 2011 and rented a similar place, his rent was 750 a week in 2011 and I think its up to 840 a week now
Big jump from zero repayments on his mortgage to 840 a week on a similar house
Its been a hard lesson for him, his 1 million sale money is down to 800k now with all the rent coming out and a house like the one he sold now costs near 2 mil !
This is in inner west sydney
Is he Or is he not working...................
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