Yeah. It wasn't bad. Sep 2011 wasn't quite the bottom for Brisbane, but it only fell another couple of percent.
Mind you, BNE is probably only just back up to Sep 2011 levels now and some markets are still below that level.
Sooner or later I had to be right. It's hardly science.
A few years ago it seemed inconceivable to some that house prices could go up anywhere, but now in the USA, UK, Ireland, here, NZ, and a stack of other countries the prices are rising, strongly in some instances. They might fall again in a few years.
If you believe they can fall you have to believe they can rise and vice versa,
Any expressed market opinion is my own and is not to be taken as financial advice
Sooner or later I had to be right. It's hardly science.
A few years ago it seemed inconceivable to some that house prices could go up anywhere, but now in the USA, UK, Ireland, here, NZ, and a stack of other countries the prices are rising, strongly in some instances. They might fall again in a few years.
If you believe they can fall you have to believe they can rise and vice versa,
I don't need to own gold or bonds or shares - but I do need a house.
I think that statement puts a line under houses as an investment. I hate to follow Skamy's tune, but given a decent length of time, generally houses will perform well as an investment.
Sooner or later every bear needs to become a bull. It's a hobby, not a profession. I would like to see how the QE unwind goes first, but I can see myself becoming bullish again in the not too distant future. I am certainly bullish in the SE UK.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
1) Supply and demand 2) Housing is a net loss making exercise. You will work this out one day. 3) Interest rates at these levels may not last for ever. 4) Australia's "luck" may need a rest for a while. (I hope not)
I will give you a hint on the housing being a loss making exercise, if you bought a house and you lived in it till the day you die, Did it cost you money to be in that house?? Did the capital cost you anything, did the repairs rates, water rates, rubbish collection and repairs cost you anything?? Or did it all just happen for free? Now i own my house. I would not sell it. AND i know it cost's me money to own it every day i am in it. I wish it made me money. Peter from Gnarabup. :pop:
mike and skamy must be due in this thread soon... with quotes from sunday times and an irrelevant chart postings to derail OP ...
to be fair though... its not that downward from what ive heard.. friends home just sold for $1m+ in a middle class suburb... he had bought it for 400k 7 or 8 years ago so he's laughing....
perth market is a bit of a joke all things considered though
I don't need to own gold or bonds or shares - but I do need a house.
I think that statement puts a line under houses as an investment. I hate to follow Skamy's tune, but given a decent length of time, generally houses will perform well as an investment.
Sooner or later every bear needs to become a bull. It's a hobby, not a profession. I would like to see how the QE unwind goes first, but I can see myself becoming bullish again in the not too distant future. I am certainly bullish in the SE UK.
Yes I agree that while we continue to have a rapidly growing population with high migrant intake, the supply of new housing will constantly be under pressure, and as our cities expand geographically the demand for close to the CBD suburbs with good transport will be the highest of all.
Eventually our population will peak, but it won't be in my our lifetime.
Here is an animated chart up until 2007 that is worth a quick look. Note that we have grown by a further 10% since 2007.
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