View Poll Results: Aussie Property prices over the next 6-12 months ?
fall 20% +
68
22.01%
fall 10-20%
65
21.04%
fall 0-10%
72
23.30%
same the same
55
17.80%
rise 0-10%
36
11.65%
rise 10-20%
6
1.94%
rise 20% +
7
2.27%
Voters: 309. You may not vote on this poll
Aussie house prices...a poll
Oct 26th 2008, 12:49 am
#47
pink 'n' bouncy
Thread Starter
Joined: Jul 2006
Location: Zombie nation
Posts: 6,087
Oct 26th 2008, 12:56 am
#48
Guest
Posts: n/a
Re: Aussie house prices...a poll
There was a TV program yesterday, about how the recent changes will affect First Home Buyers, with the $21,000 grant, and the 'reduced interest rates'.
It showed some typical first home buyers looking around the house they were about to buy. 4 beds, 2 baths, all mod cons etc etc. $450,000+. The type of house I had gradually worked up to after quite a few years.
In my area the developers are rapidly building more and more houses to satisfy this first home buyer demand at about $500,000 !!
Yet there are other properties starting at about $310,000 in the area. But only 3 beds, 1 bathroom, single garage etc. Not really good enough for todays first home buyer !! And this is near enough a water front area.
Go inland to Ipswich, for example, and there are 990 properties under $300,000, 355 of these are under $250,000, with 93 under $200,000.
(Average FULL TIME wage in Feb 2008 was $61,022, = 990 properties in one area (Ipswich) at 5x salary or 355 at 4x salary)
But no, many FHB'rs are heading to water front properties at about $500,000 (or 8 x salary).
It showed some typical first home buyers looking around the house they were about to buy. 4 beds, 2 baths, all mod cons etc etc. $450,000+. The type of house I had gradually worked up to after quite a few years.
In my area the developers are rapidly building more and more houses to satisfy this first home buyer demand at about $500,000 !!
Yet there are other properties starting at about $310,000 in the area. But only 3 beds, 1 bathroom, single garage etc. Not really good enough for todays first home buyer !! And this is near enough a water front area.
Go inland to Ipswich, for example, and there are 990 properties under $300,000, 355 of these are under $250,000, with 93 under $200,000.
(Average FULL TIME wage in Feb 2008 was $61,022, = 990 properties in one area (Ipswich) at 5x salary or 355 at 4x salary)
But no, many FHB'rs are heading to water front properties at about $500,000 (or 8 x salary).
Oct 26th 2008, 1:07 am
#49
Has left the building
Joined: Mar 2007
Posts: 4,079
Re: Aussie house prices...a poll
Let me be more specific
My point is in regard people using "house purchase with a long term view", but in the buying process jumping for the first property they see. (Chasing short term satisfaction)
Instead of investing with sufficient research and judgement, they are governed by short term motivations ie living in own house versus rental, New build fresh paint versus location. Keeping up with the jones versus within their means. No thought about education or future employment opportunities.
Long term viewpoint to me is being used by the masses as a cop out to make them feel safe in their misguided purchases.
Over 20 years why buy a house that will only increase 3 times when you could buy one that increases 5 times. Oh because you buy a house as a home? So why are you all so interested in its current market value week by week?
Lastly if rent is dead money? - so what is interest?
My point is in regard people using "house purchase with a long term view", but in the buying process jumping for the first property they see. (Chasing short term satisfaction)
Instead of investing with sufficient research and judgement, they are governed by short term motivations ie living in own house versus rental, New build fresh paint versus location. Keeping up with the jones versus within their means. No thought about education or future employment opportunities.
Long term viewpoint to me is being used by the masses as a cop out to make them feel safe in their misguided purchases.
Over 20 years why buy a house that will only increase 3 times when you could buy one that increases 5 times. Oh because you buy a house as a home? So why are you all so interested in its current market value week by week?
Lastly if rent is dead money? - so what is interest?
Oct 26th 2008, 1:08 am
#50
Just Joined
Joined: Apr 2008
Posts: 10
Re: Aussie house prices...a poll
There was a TV program yesterday, about how the recent changes will affect First Home Buyers, with the $21,000 grant, and the 'reduced interest rates'.
It showed some typical first home buyers looking around the house they were about to buy. 4 beds, 2 baths, all mod cons etc etc. $450,000+. The type of house I had gradually worked up to after quite a few years.
In my area the developers are rapidly building more and more houses to satisfy this first home buyer demand at about $500,000 !!
Yet there are other properties starting at about $310,000 in the area. But only 3 beds, 1 bathroom, single garage etc. Not really good enough for todays first home buyer !! And this is near enough a water front area.
Go inland to Ipswich, for example, and there are 990 properties under $300,000, 355 of these are under $250,000, with 93 under $200,000.
(Average FULL TIME wage in Feb 2008 was $61,022, = 990 properties in one area (Ipswich) at 5x salary or 355 at 4x salary)
But no, many FHB'rs are heading to water front properties at about $500,000 (or 8 x salary).
It showed some typical first home buyers looking around the house they were about to buy. 4 beds, 2 baths, all mod cons etc etc. $450,000+. The type of house I had gradually worked up to after quite a few years.
In my area the developers are rapidly building more and more houses to satisfy this first home buyer demand at about $500,000 !!
Yet there are other properties starting at about $310,000 in the area. But only 3 beds, 1 bathroom, single garage etc. Not really good enough for todays first home buyer !! And this is near enough a water front area.
Go inland to Ipswich, for example, and there are 990 properties under $300,000, 355 of these are under $250,000, with 93 under $200,000.
(Average FULL TIME wage in Feb 2008 was $61,022, = 990 properties in one area (Ipswich) at 5x salary or 355 at 4x salary)
But no, many FHB'rs are heading to water front properties at about $500,000 (or 8 x salary).
People need a margin of comfort - for when say, we are about to go in to a recession !!! It is not just outright unemployment that bites, it is reduced overtime, loss of shift allowances etc as demand diminishes.
Oct 26th 2008, 1:32 am
#52
Joined: Jun 2006
Posts: 4,555
Re: Aussie house prices...a poll
There was a TV program yesterday, about how the recent changes will affect First Home Buyers, with the $21,000 grant, and the 'reduced interest rates'.
It showed some typical first home buyers looking around the house they were about to buy. 4 beds, 2 baths, all mod cons etc etc. $450,000+. The type of house I had gradually worked up to after quite a few years.
In my area the developers are rapidly building more and more houses to satisfy this first home buyer demand at about $500,000 !!
Yet there are other properties starting at about $310,000 in the area. But only 3 beds, 1 bathroom, single garage etc. Not really good enough for todays first home buyer !! And this is near enough a water front area.
Go inland to Ipswich, for example, and there are 990 properties under $300,000, 355 of these are under $250,000, with 93 under $200,000.
(Average FULL TIME wage in Feb 2008 was $61,022, = 990 properties in one area (Ipswich) at 5x salary or 355 at 4x salary)
But no, many FHB'rs are heading to water front properties at about $500,000 (or 8 x salary).
It showed some typical first home buyers looking around the house they were about to buy. 4 beds, 2 baths, all mod cons etc etc. $450,000+. The type of house I had gradually worked up to after quite a few years.
In my area the developers are rapidly building more and more houses to satisfy this first home buyer demand at about $500,000 !!
Yet there are other properties starting at about $310,000 in the area. But only 3 beds, 1 bathroom, single garage etc. Not really good enough for todays first home buyer !! And this is near enough a water front area.
Go inland to Ipswich, for example, and there are 990 properties under $300,000, 355 of these are under $250,000, with 93 under $200,000.
(Average FULL TIME wage in Feb 2008 was $61,022, = 990 properties in one area (Ipswich) at 5x salary or 355 at 4x salary)
But no, many FHB'rs are heading to water front properties at about $500,000 (or 8 x salary).
Oct 26th 2008, 1:39 am
#53
pink 'n' bouncy
Thread Starter
Joined: Jul 2006
Location: Zombie nation
Posts: 6,087
Oct 26th 2008, 1:41 am
#54
Timelord
Joined: May 2006
Location: Lost in space...
Posts: 2,834
Re: Aussie house prices...a poll
Exactly... and ultimately that is what will do for the bubble... something's only worth what you can get someone to pay for it, and there ain't many cash only buyers out there...
Oct 26th 2008, 1:44 am
#55
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Aussie house prices...a poll
Oct 26th 2008, 1:47 am
#56
pink 'n' bouncy
Thread Starter
Joined: Jul 2006
Location: Zombie nation
Posts: 6,087
Re: Aussie house prices...a poll
I dont mind renting at the mo ....saves me doing all the poxy DIY jobs around the house 
Oct 26th 2008, 2:07 am
#57
Australia's Doorman
Joined: Jan 2005
Location: The Shoalhaven, New South Wales, Australia
Posts: 11,056
Re: Aussie house prices...a poll
Not all of us are. I bought a home - as long as I can keep up the mortgage repayments (which believe me, is not a given in this current climate) then I couldn't give a monkeys what it's worth.
)
Oct 26th 2008, 2:15 am
#59
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Aussie house prices...a poll
Solutions are only necessary if you see a problem.
I think a drastic fall in house prices is well overdue.
I have the money to buy another house but I have absolutely no intention of doing so unless prices fall a lot more.
This may compound some people's problems but that is really no concern of mine.
I bet I am not alone in thinking this way.
G
I think a drastic fall in house prices is well overdue.
I have the money to buy another house but I have absolutely no intention of doing so unless prices fall a lot more.
This may compound some people's problems but that is really no concern of mine.
I bet I am not alone in thinking this way.
G
Oct 26th 2008, 2:30 am
#60
Timelord
Joined: May 2006
Location: Lost in space...
Posts: 2,834
Re: Aussie house prices...a poll
Solutions are only necessary if you see a problem.
I think a drastic fall in house prices is well overdue.
I have the money to buy another house but I have absolutely no intention of doing so unless prices fall a lot more.
This may compound some people's problems but that is really no concern of mine.
I bet I am not alone in thinking this way.
G
I think a drastic fall in house prices is well overdue.
I have the money to buy another house but I have absolutely no intention of doing so unless prices fall a lot more.
This may compound some people's problems but that is really no concern of mine.
I bet I am not alone in thinking this way.
G
I sold in the UK in early 2004 and rented for 2 years before moving over here because I couldn't believe that my house was worth well over double what I paid for it in late 1996. I'm quite sure that what we're seeing in the UK will be over here shortly...