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Sydney Construction Boom Nearly Here; Construction growth of 15% is forecast in NSW over next two years
Topic Started: 8 Aug 2011, 12:56 PM (51,182 Views)
Elastic
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Can you define what you mean by the word "nearly"?

Just kidding, like Steve Keen you will eventually be right.
Only a rat can win a rat race.

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raveswei
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Shadow
1 Mar 2012, 11:53 AM
Nobody wants to buy our new homes so let’s built even more

Sounds like a typical thinking of an Australian property speculator (aka property investor)
http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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Rastus2
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Shadow
1 Mar 2012, 11:53 AM
Thats a large change,

What percentage rise for Sydney ?

Is this seasonal ?
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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Admin
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Administrator

Quote:
 
Ratepayer levy urged to relieve developers

Matthew Moore
March 9, 2012

THE Planning Minister, Brad Hazzard, has agreed to consider proposals for a state or Sydney-wide levy on ratepayers to raise money for parks, libraries and other community facilities in new suburbs. Mr Hazzard said historically low rates of construction of homes meant it was imperative to find ways to fund community infrastructure in new housing developments and he would not rule out a broad-based tax.

''Desperate times demand desperate measures. We have the lowest housing starts in 50 years; it's time to look at alternative ways of raising necessary funds,'' he said.

Read more: http://www.smh.com.au/nsw/ratepayer-levy-urged-to-relieve-developers-20120308-1unak.html#ixzz1oZVJdRFq
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hoofarted
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Lol for stamp duty not paying the bills anymore....

Now all they need to do is allow house prices to drop a few %%% and the stamp duty will come back.... Surely it is that simple.... right?
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Admin
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Quote:
 
New home starts in 'shock' drop

March 14, 2012 - 12:18PM

A reading on the future pace of construction dived more than expected in the final three months of last year. Dwelling starts tumbled 6.9 per cent in the fourth quarter of 2011, accelerating on a revised 5.8 per cent drop in the third quarter, according to the Australian Bureau of Statistics. Economists polled by Bloomberg expected a 3 per cent fall for the December quarter.

“It was quite a shock drop, reflecting that residential construction is quite weak,” said St George Bank Economist Janu Chan. “It definitely remains one of the weak areas of the economy.”

“There has been a stabilisation in house prices but we need to see sustained recovery in them before we see residential construction pick up," she said.

New private sector houses dropped 2.7 per cent in the quarter, while new private sector residential units sank 13.9 per cent, seasonally adjusted, the ABS said. For the quarter, residential starts totalled 33,653 nationwide while down 13 per cent from a year earlier.

New home starts edged up 0.6 per cent in New South Wales after a 1.6 per cent fall in the previous quarter, on a seasonally adjusted basis.

Victoria's decline slowed to a 7.3 per cent fall in the December quarter, from a 14.2 per cent drop in the September quarter.

In Queensland, dwelling starts plunged 17.9 per cent in the quarter, in a sharp turnaround from the September quarter when they rose 9.1 per cent.

Western Australia's decline slowed to 3.3 per cent in the December quarter from a 6 per cent drop in the September quarter.

Read more: http://www.smh.com.au/business/new-home-starts-in-shock-drop-20120314-1uzi5.html#ixzz1p3LDJC2Q
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schooner
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Alex Barton
14 Mar 2012, 01:08 PM

“It was quite a shock drop, reflecting that residential construction is quite weak,” said St George Bank Economist Janu Chan. “It definitely remains one of the weak areas of the economy.”

One of the weak parts of the economy!.....Shadow says Sydney will have a construction boom in 2012.
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nofriends
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lol falls - this shows the original posters true colours.

embarrassing.
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jas
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Shadow
30 Jan 2012, 10:45 AM
Catweasel
30 Jan 2012, 10:43 AM
Catweasel laugh. Copy a link from beloved media and then the attribute predictive power to the itself is none the more than a empty self promote. It a guess of a a two outcome. Nothing the more, nothing the less.
How original. Yawn.
Hi Shadow,

Don't won't to sound like everyone else but here's one from the horses mouth.
I actually work sorry, casually work now in the booming building industry.
There is no amount of govn't stimulus that will boost levels seen since 2000.
Howard also did a great job of handing out apprentiships to everyone and wizzing them through in 2 yrs also, so a heap of very inexperienced carpenters, that guess what left the industry when it dried up. So much for under supply of housing. Any way back to subject matter.
In any state inc Syd Nsw. The whole market is overheated, investors and over capitalised owners are jumpping ship. My sister lives in melbourne, cousins in Sydney, uncles in Perth(Mines), and i,m in Brizzy and the housing is still going one way DOWN. Sure the RP Data graph my bounce a little as home owners sell there property only to buy a down graded version, or the speculators jump on thinking now is the lowest time.
I can tell you JOB SECURITY is key to a housing revival and at this stage all I am seeing is losses across most industries, so its still to get worse yet.

My two cents, PS I own a house and just sold one (ouch) but thats the economy!
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earthsta
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schooner
14 Mar 2012, 01:15 PM
Alex Barton
14 Mar 2012, 01:08 PM

“It was quite a shock drop, reflecting that residential construction is quite weak,” said St George Bank Economist Janu Chan. “It definitely remains one of the weak areas of the economy.”

One of the weak parts of the economy!.....Shadow says Sydney will have a construction boom in 2012.
He also said Sydney house prices would rise in 2011 and reckons they will rise 13%pa for the next three years.

Shadow gets very little right these days.

Hopefully, he'll get the departure gate right when he leaves :lol:
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