Australian Property Market
May 30th 2006, 11:08 am
#1
BE Enthusiast
Thread Starter
Joined: Jun 2003
Location: Melbourne, Victoria
Posts: 524
Australian Property Market
Houses are advertised at "$500k+" or "offers over $500k". If you make an offer of $530k it gets rejected outright. Which begs the question, why not make it offers over $530k? The answer seems to be to create more interest in the property from greedy fools thinking they can get a bargain. The house will sell for $650k.
I think the Australian property market is generally unhealthy.
I think the Australian property market is generally unhealthy.
May 30th 2006, 11:14 am
#2
Forum Regular
Joined: Oct 2005
Posts: 55
Re: Australian Property Market
Originally Posted by ossigeno
Houses are advertised at "$500k+" or "offers over $500k". If you make an offer of $530k it gets rejected outright. Which begs the question, why not make it offers over $530k? The answer seems to be to create more interest in the property from greedy fools thinking they can get a bargain. The house will sell for $650k.
I think the Australian property market is generally unhealthy.
I think the Australian property market is generally unhealthy.
May 30th 2006, 11:22 am
#3
BE Enthusiast
Thread Starter
Joined: Jun 2003
Location: Melbourne, Victoria
Posts: 524
Re: Australian Property Market
Originally Posted by dolly123
And i read another thread saying something like property rates are shown higher than actual to get a better bargain. So property generally gets sold at much lower prices than advt on net. I am so confused. Which city are u referring too and which site?
May 30th 2006, 11:25 am
#4
Account Closed
Joined: Mar 2006
Posts: 10,158
Re: Australian Property Market
Come to the Blue Mountains and pay $330 - $440 for a 4-5 bedroom house. And they take offers too. That's the problem, they know people want the beach so they're making people pay for it. 
It's perfectly stable here ... in fact, prices have fallen to attract buyers. I can show you properties that have been on the market for over 18 months...
It's perfectly stable here ... in fact, prices have fallen to attract buyers. I can show you properties that have been on the market for over 18 months...
May 30th 2006, 11:29 am
#5
Lost in BE Cyberspace
Joined: Nov 2003
Location: Scotland
Posts: 7,949
Re: Australian Property Market
Originally Posted by ossigeno
Houses are advertised at "$500k+" or "offers over $500k". If you make an offer of $530k it gets rejected outright. Which begs the question, why not make it offers over $530k? The answer seems to be to create more interest in the property from greedy fools thinking they can get a bargain. The house will sell for $650k.
I think the Australian property market is generally unhealthy.
I think the Australian property market is generally unhealthy.
At least when you have an offer accepted in Vic you can't be gazzumped like in other property markets.
OzTennis
May 30th 2006, 11:32 am
#6
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Australian Property Market
Originally Posted by ossigeno
Houses are advertised at "$500k+" or "offers over $500k". If you make an offer of $530k it gets rejected outright. Which begs the question, why not make it offers over $530k? The answer seems to be to create more interest in the property from greedy fools thinking they can get a bargain. The house will sell for $650k.
I think the Australian property market is generally unhealthy.
I think the Australian property market is generally unhealthy.
It used to happen a lot in SA but I thought is was now banned.
G
May 30th 2006, 11:40 am
#7
BE Enthusiast
Thread Starter
Joined: Jun 2003
Location: Melbourne, Victoria
Posts: 524
Re: Australian Property Market
Originally Posted by OzTennis
Perhaps you say what happened at the auction of Bob Ansett's old estate at Mt Eliza over the weekend? It set a record at auction in Victoria of $14.5 mill - reserve was set at $8 mill. :scared:
At least when you have an offer accepted in Vic you can't be gazzumped like in other property markets.
OzTennis
At least when you have an offer accepted in Vic you can't be gazzumped like in other property markets.
OzTennis
Instead of gazzumpers there are the fake bidders and the sealed bids.
Stamp duty is pretty hefty here as well.
May 31st 2006, 12:31 am
#8
(It's not my real name)
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: Australian Property Market
Or the latest thing I've seen in Perth, it's not "Offers over..." or "POA" or "Auction" but "Expressions of Interest"
I mean, FFS! it's a fairly standard Ocean Reef house, quite nice sure but nothing special and they want people to submit "Expressions of Interest"
http://www.eldersrealestate.com.au/l...list_id=214985
What's going on?
I mean, FFS! it's a fairly standard Ocean Reef house, quite nice sure but nothing special and they want people to submit "Expressions of Interest"
http://www.eldersrealestate.com.au/l...list_id=214985
What's going on?
