According to RP Data-Rismark, Australian capital city home values fell by -1.41% over the month, led by Melbourne, where prices crashed -2.66%, which is likely to represent a record monthly fall.
It's over bulls, better get out whilst you can still avoid bankruptcy.
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.
As expected we have seen the seasonal uptick in the March quarter fade away and falls have resumed. Melbourne looks set for a shocker this year unless IR cuts can soften the fall.
Interesting to see Perth still continue to drop despite what Mike has been telling us. I suspect that his alternate sources are using WA figures rather than just Perth.
I notice that where you live, and feel "entitled" to be able to buy a harbour-side house on the cheap - ie Sydney, that prices are basically flat for the year. And they are still 10-15% higher than they were in early 2009, the last time the crash was supposed to happen?
For Aussie property bears, "denial", is not just a long river in North Africa.....
I notice that where you live, and feel "entitled" to be able to buy a harbour-side house on the cheap - ie Sydney, that prices are basically flat for the year. And they are still 10-15% higher than they were in early 2009, the last time the crash was supposed to happen?
Sydney was the first to rise so will be the last to fall.
Yeah, more infantile propaganda. I don't even own an i-anything. So by your mind I deserve kirribilli house for $20.
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.
As expected we have seen the seasonal uptick in the March quarter fade away and falls have resumed. Melbourne looks set for a shocker this year unless IR cuts can soften the fall.
Interesting to see Perth still continue to drop despite what Mike has been telling us. I suspect that his alternate sources are using WA figures rather than just Perth.
I guess the 24% increase in sales along with 3.5% rise in prices in Perth in the last 2 months which is now widely reported.
Sales for May are up 40-50% also widely reported in the media. Sales are now greater than when we had the boost to first home buyers grant in 2010 which caused a mini boom. Just go look up WA treasury data which is more accurate than any other link you can provide as its based on actual sales and counts every sale, not a data set or sample size like most others.
It's over bulls, better get out whilst you can still avoid bankruptcy.
Melbourne is due for a correction. Prices there are up 56% since 2006.
The 2 properties I own in melbourne have more than doubled since 2005. Melbourne is set for a few slow years and prices should come down between 7-10%. Wait for the price declines and snapup some cheaper properties.
Keep an eye on the Federal Govt though, you can beat this Labour Govt is just itching to spends mountains of cash to win over voters. Is spain goes belly up there surplus is gone, so the Govt will give up the surplus game and go back to spending. If the Govt dose kick in with a large grant like last time, you wont see any price declines but large increases instead. That is out of our hands, but if spain and Europe get worse you can bank on the Govt stepping in.
I do not think it is good policy for the Govt to do this as it only brings forward demand and sends prices to high, but it does stimulate the economy quickly and keeps things ticking over until after the next election.
To be honest Mike I'm expecting Perth to do reasonably well this year compared to the other capitals. It may turn out to be a bull trap if China slows down however.
I totally disagree that the government is prepared for another stimulus if necessary. Not going to happen. IR cuts are the best you can hope for. And Melbourne is in for all kinds of problems. You should have sold your properties 18 months ago when the writing was on the wall. Prices have already fallen 10% and you can expect another 10% over the next 12-18 months. And on top of that you can expect rents to start falling there as well.
To be honest Mike I'm expecting Perth to do reasonably well this year compared to the other capitals. It may turn out to be a bull trap if China slows down however.
I totally disagree that the government is prepared for another stimulus if necessary. Not going to happen. IR cuts are the best you can hope for. And Melbourne is in for all kinds of problems. You should have sold your properties 18 months ago when the writing was on the wall. Prices have already fallen 10% and you can expect another 10% over the next 12-18 months. And on top of that you can expect rents to start falling there as well.
i'm open to the idea of prices falling a few % this year, but why would rents fall? all data points to the opposite happening.
moops why will we all be bankrupt? rates are going down, as long as the jobless rate stays where it is there won't be any massive sell offs.
I am the love child of Tony Abbott and Pauline Hanson
i'm open to the idea of prices falling a few % this year, but why would rents fall? all data points to the opposite happening.
moops why will we all be bankrupt? rates are going down, as long as the jobless rate stays where it is there won't be any massive sell offs.
The reason why rents will fall in Melbourne is because the rental vacancy rate is relatively high (3.1%). There is a massive glut of apartment building about to come on line. Victoria is heading into recession and the fall in IRs will mean that landlords will be prepared to accept lower rents to ensure their properties are rented out. We are also starting to see increases in no. of people per household which is probably a consequence of the more difficult economic times. It's just the way I see it.
The reason why rents will fall in Melbourne is because the rental vacancy rate is relatively high (3.1%). There is a massive glut of apartment building about to come on line. Victoria is heading into recession and the fall in IRs will mean that landlords will be prepared to accept lower rents to ensure their properties are rented out. We are also starting to see increases in no. of people per household which is probably a consequence of the more difficult economic times. It's just the way I see it.
ah sorry my mistake i thought he was talking about perth. yeah vic is in all kinds of problems, mostly self inflicted by years of ALP government.
I am the love child of Tony Abbott and Pauline Hanson
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