Welcome Guest [Log In] [Register]


Reply
  • Pages:
  • 1
  • 3
QLD house prices rise for the first time in 18 months; Brisbane market recovering (again)
Topic Started: 19 May 2012, 07:16 AM (2,369 Views)
zaph
Default APF Avatar


Quote:
 
QLD house prices rise for the first time in 18 months

QUEENSLAND'S property market is starting to emerge from the doldrums, posting positive results for the first time in 18 months.

Sales are up, and property prices across much of the state are increasing.

Brisbane's median house price has tipped over the $500,000 barrier again, rising 1.2 per cent during the quarter to hit $505,000.

The latest Real Estate Institute of Queensland median house price data has also revealed the number of homes selling during the quarter is 6 per cent higher than at the same time last year.

While many medians throughout the state are still down on 12 months ago, the quarterly results are the first signs the market is starting to recover, says REIQ chief Anton Kardash.

Bahrs Scrub at Logan broke all records, posting a massive median house price of $2,113,475 for the quarter.


Michelle deserves an award for this well researched and balanced article!

Profile "REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


zaph
19 May 2012, 07:16 AM
Quote:
 
QLD house prices rise for the first time in 18 months

QUEENSLAND'S property market is starting to emerge from the doldrums, posting positive results for the first time in 18 months.

Sales are up, and property prices across much of the state are increasing.

Brisbane's median house price has tipped over the $500,000 barrier again, rising 1.2 per cent during the quarter to hit $505,000.

The latest Real Estate Institute of Queensland median house price data has also revealed the number of homes selling during the quarter is 6 per cent higher than at the same time last year.

While many medians throughout the state are still down on 12 months ago, the quarterly results are the first signs the market is starting to recover, says REIQ chief Anton Kardash.

Bahrs Scrub at Logan broke all records, posting a massive median house price of $2,113,475 for the quarter.


Michelle deserves an award for this well researched and balanced article!

I'm pretty sure that the REIQ use "Pricefinder" which is also known as PDS as the source of their information, so it differs from RPData information.

Brisbane prices did start to show some increases in the last quarter but they have edged down very slightly since then, but not by much.

The information that I think is a standout is that in the quarter ending 31/03/2012 sales on the gold coast virtually doubled. The price didn't change appreciably, but the velocity did.

Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
zaph
Default APF Avatar


peter fraser
20 May 2012, 08:02 AM
I'm pretty sure that the REIQ use "Pricefinder" which is also known as PDS as the source of their information, so it differs from RPData information.

Brisbane prices did start to show some increases in the last quarter but they have edged down very slightly since then, but not by much.

The information that I think is a standout is that in the quarter ending 31/03/2012 sales on the gold coast virtually doubled. The price didn't change appreciably, but the velocity did.
i just checked the lift out in yesterday's paper, you are correct they use price finder. do you know if the median is raw or adjusted? i always thought REIQ was raw, but am happy to be corrected.
Profile "REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


zaph
20 May 2012, 08:59 AM
peter fraser
20 May 2012, 08:02 AM
I'm pretty sure that the REIQ use "Pricefinder" which is also known as PDS as the source of their information, so it differs from RPData information.

Brisbane prices did start to show some increases in the last quarter but they have edged down very slightly since then, but not by much.

The information that I think is a standout is that in the quarter ending 31/03/2012 sales on the gold coast virtually doubled. The price didn't change appreciably, but the velocity did.
i just checked the lift out in yesterday's paper, you are correct they use price finder. do you know if the median is raw or adjusted? i always thought REIQ was raw, but am happy to be corrected.
I can't find any information on methodology on their site. They do provide a raw trend line as well as a 12 month moving average or for short term searches they provide a 3 month moving average.

I suspect that the newspapers quote the raw data which is much more volatile. For example the raw data in the first quarter in 2012 for the all sales index for the Brisbane LGA prices fell from $450,000 down to $427,000, but so far in the current quarter the prices have jumped up to $570,000 which is a huge leap. That leap isn't reflected in the RPData daily index.

The 12 month moving average has risen from about $470,000 to about $480,000 this quarter. I'll try to post the graph tomorrow if I get time.
Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
Frank Castle
Member Avatar
Business As Usual

The bears have left this thread alone haven't they :to:

Posted Image
Angry Bear say's NO
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
Profile "REPLY WITH QUOTE" Go to top
 
Mr Griffin
Member Avatar


I just love it how when the stock market falls, then has a small uptick it is reported as a 'dead cat bounce' or 'suckers rally'

When property ticks up after falling it is 'Without a doubt the start of a massive surge in property prices'

Note: I have exaggerated to make my point...don't jump on and tell me that the article doesn't actually say that.
Profile "REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


Frank Castle
21 May 2012, 08:16 AM
The bears have left this thread alone haven't they :to:

Posted Image
Angry Bear say's NO
Let me check the data and post the correct graphs Frank. The first graph that I printed out (which I haven't yet posted) contained all properties so houses and units may not be heading in the same direction as commercial property. I'll put up the Gold Coast as well seeing that area affects Brisbane in the RPData daily index.

Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
themoops
Member Avatar
Ruby Member
It's just a very small, very temporary boost in confidence because of the new Liberal party. Assuming that it's even true.
Edited by themoops, 21 May 2012, 11:34 AM.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
Profile "REPLY WITH QUOTE" Go to top
 
Elastic
Member Avatar


We had Chris Joye trumpeting the improving nationwide house prices a few months ago just before it started turning down again.
Only a rat can win a rat race.

Profile "REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


peter fraser
21 May 2012, 10:52 AM
Let me check the data and post the correct graphs Frank. The first graph that I printed out (which I haven't yet posted) contained all properties so houses and units may not be heading in the same direction as commercial property. I'll put up the Gold Coast as well seeing that area affects Brisbane in the RPData daily index.

As promised I have finally got around to posting the PriceFinder graphs for Brisbane and the Gold Coast.
Firstly I should say that sales volumes for Q1 will improve a good bit more as sales are registered on title. Volumes for Q2 are way under reported at this moment and they really should be disregarded for now as being too unreliable.

Brisbane House:
You can see that the median prices are quite different to the RPData median prices. This is for the LGA so it may be more concentrated around the UBD - I'm not sure on that. the trend though is similar to the other indices with an increase in prices evident in Q4 2011 but the turning down again in Q1 2012, with perhaps a hint of an upturn at the end of Q1 2012.

Brisbane Units:
Sales volumes are growing strongly from the low of Q1 2011, but prices are falling.

Gold Coast House:
Falling sales volumes appear to have bottomed, and prices are increasing.

Gold Coast Units:
Easily the most bullish graph. Sales in the last three quarters have been close to double what was recorded in the three quarters prior to that. Q1 in 2012 has seen the strongest sales volumes for 3 years with not all sales yet recorded. Clearly prices have grown quite strongly during Q1 2012 The Gold Coast is ground zero due to the effect of the $AUD so it is interesting. I have seen a report recently suggesting that tourism was gaining strength, although I don't see why that would be so. It has also been suggested that Chinese buyers are interested in the Gold Coast, so there are a number of possible explanations.

Draw your own conclusions.


Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply
  • Pages:
  • 1
  • 3



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