OZ BOOM is over?...house prices falling & rates might drop
#91
Re: OZ BOOM is over?...house prices falling & rates might drop
Friends place got passed in yesterday, they were hoping for 900k didnt get above 800k... Missed out by 3 months once more. They will probably manage 840k this week I would say.
http://www.realestate.com.au/propert...west-106503722
http://www.realestate.com.au/propert...west-106503722
#92
Banned
Joined: Feb 2009
Posts: 1,855
Re: OZ BOOM is over?...house prices falling & rates might drop
Anyone who thinks the boom is over should read this
http://au.news.yahoo.com/a/-/mp/7196...y-prices-soar/
http://au.news.yahoo.com/a/-/mp/7196...y-prices-soar/
#93
BE Forum Addict
Joined: Mar 2009
Posts: 1,412
Re: OZ BOOM is over?...house prices falling & rates might drop
Prices in Ireland have gone back ten years at least, or are heading that way. Transaction levels are minuscule.
#94
Re: OZ BOOM is over?...house prices falling & rates might drop
Anyone who thinks the boom is over should read this
http://au.news.yahoo.com/a/-/mp/7196...y-prices-soar/
http://au.news.yahoo.com/a/-/mp/7196...y-prices-soar/
"Also there's been a lot of foreign buyers," she says, citing the case of a Chinese man who paid 750,000 dollars cash for a two-bedroom home because it was cheaper than in Shanghai. "They outbid everyone."
#95
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Joined: Mar 2009
Posts: 1,412
Re: OZ BOOM is over?...house prices falling & rates might drop
Anyone who thinks the boom is over should read this
http://au.news.yahoo.com/a/-/mp/7196...y-prices-soar/
http://au.news.yahoo.com/a/-/mp/7196...y-prices-soar/
#96
Re: OZ BOOM is over?...house prices falling & rates might drop
That article basically says that property industry interests believe that their industry will continue to boom and they will continue to make vast amounts of money. The industry encourages people to no think about what they are spending or what they are buying and to 'continue' the frenzied buying. About the only impartial commentary in there is from the RBA.
#100
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Joined: Aug 2009
Posts: 2,733
Re: OZ BOOM is over?...house prices falling & rates might drop
#101
Re: OZ BOOM is over?...house prices falling & rates might drop
Short term gain....long term pain...
Arrears rise as rates climb
...and I thought it was the low end that was cooling?...
Market cools at the top end
"Data from Standard & Poor's Rating Services showed that the share of late-paying borrowers as a proportion of residential backed mortgage securities rose to 1.48 per cent in February from 1.39 per cent in January, and 1.25 per cent in December."
...and I thought it was the low end that was cooling?...
Market cools at the top end
#102
Re: OZ BOOM is over?...house prices falling & rates might drop
Totally different rental market now, to this time last year, a lot easier to get one, no more people in recent months that I've heard about, offering estate agents more money than the asking rate, which was almost the norm last year.
Also I can confirm that things have definitely gone of the boil in the Inner North in Melbourne. Properties passed in that definitely wouldnt have been 3 months ago.
People have suddenly turned cautious, and I beleive the Chinese have stopped buying at all costs.
Friends place got passed in yesterday, they were hoping for 900k didnt get above 800k... Missed out by 3 months once more. They will probably manage 840k this week I would say.
http://www.realestate.com.au/propert...west-106503722
Also I can confirm that things have definitely gone of the boil in the Inner North in Melbourne. Properties passed in that definitely wouldnt have been 3 months ago.
People have suddenly turned cautious, and I beleive the Chinese have stopped buying at all costs.
Friends place got passed in yesterday, they were hoping for 900k didnt get above 800k... Missed out by 3 months once more. They will probably manage 840k this week I would say.
http://www.realestate.com.au/propert...west-106503722
#103
Re: OZ BOOM is over?...house prices falling & rates might drop
Also I can confirm that things have definitely gone of the boil in the Inner North in Melbourne. Properties passed in that definitely wouldnt have been 3 months ago.
People have suddenly turned cautious, and I beleive the Chinese have stopped buying at all costs.
Friends place got passed in yesterday, they were hoping for 900k didnt get above 800k... Missed out by 3 months once more. They will probably manage 840k this week I would say.
http://www.realestate.com.au/propert...west-106503722
People have suddenly turned cautious, and I beleive the Chinese have stopped buying at all costs.
Friends place got passed in yesterday, they were hoping for 900k didnt get above 800k... Missed out by 3 months once more. They will probably manage 840k this week I would say.
http://www.realestate.com.au/propert...west-106503722
Went along to the auction of this place this morning - it was listed in the property paper at $650k - $715k.
http://www.realestate.com.au/propert...outh-106475150
Sold at $843k.
As with other places there's a good reason there's no pictures of the kitchen & bedrooms!
#104
Re: OZ BOOM is over?...house prices falling & rates might drop
I'm still seeing no sign of this slowdown you speak of.
Went along to the auction of this place this morning - it was listed in the property paper at $650k - $715k.
http://www.realestate.com.au/propert...outh-106475150
Sold at $843k.
As with other places there's a good reason there's no pictures of the kitchen & bedrooms!
Went along to the auction of this place this morning - it was listed in the property paper at $650k - $715k.
http://www.realestate.com.au/propert...outh-106475150
Sold at $843k.
As with other places there's a good reason there's no pictures of the kitchen & bedrooms!
My friends let their place go for 840,000K, There were hoping for 900K.... they had already bought another place.
Can't believe that someone would willingly move from Preston to South Morang though...... even if they are 250K in front.
#105
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Joined: Mar 2009
Posts: 1,412
Re: OZ BOOM is over?...house prices falling & rates might drop
One swallow does not a summer make. According to the ABS the uptake of finance is slowing down, so either people are buying with cash or the market seems to be cooling. Homebuyers seem to be fleeing the market while 'investors' are still piling in.