Fluid36

Yep it takes no brains and it relies on luck so good for most people.

HUP

Previously I might have risen to the bait but not anymore. You sound a very bitter sort. All that picking at knits perhaps

Fluid36

I pointed out a fact, I've bought and sold properties for a profit in my time but made much more off the share market. Why not keep it on topic rather than getting sensitive and personal about a fact, it's not a good look for you.

HUP

I'm so sorry, there was me thinking you were trying to get a rise out of me. I'm a sensitive little soul me.

Fluid36

Sorry, I was trying to get my point in.

HUP

Perhaps by implying we had no idea of investments, no brains and relied upon luck was not the best way of achieving that?

Fluid36

I didn't say you personally, I said that investing in property in general. You chose to take it personally which is fine.

HUP

I'd have to disagree on that. I think property investment whilst there is luck involved you do have to;

1) Do your research to try and ensure your buying in the right area.
2) Ensure that you can add capital value to the property without major expense.
3) Source and implement the capital improvements at the best price.

Whilst both shares and property offer different methods of achieving a return on investment you cannot really compare them. There are spruikers on both the property and share side of the argument and generally they are the ones behind the bubbles in both markets

balkanghost

The real estate industry and mainstream media is twisting itself in knots trying to make property market appear healthy through fudged clearance rates (Melbourne was supposed to be having 800-900 auctions weekly, but figures provided show much fewer to come up with 60% clearance rates), planting population growth articles early in week e.g. 1500 new residents to Melbourne (old news based on old peak data) but new arrivals dropped significantly, extrapolating tiny increments, misleading headlines contradicted by body of article etc. etc.

Reliable property news is available from SQM Research e.g.:

The below is just some of the data that is presented in the SQM Home Discounts Report. Click here for the Full report or take a look at what the actual report looks like.

Address First Advertised Inital Asking Now Asking
St Kilda Rd Melbourne 4 Jul 2009 $440,000 $430,000
Collins St Melbourne 18 Aug 2009 $2,100,000 $2,000,000
Market St Melbourne 10 Jun 2008 $360,000 $300,000+
Market St Melbourne 19 Mar 2008 $325,000 $230,000.00

There are now 701 properties in the postcode of 3000 that have been on the market for two months or more. Click here to look at them.

Be in the know – Click here to see the full list of discounted properties and how long they have been on the market for.

Vash the Stampede

Only two of those properties have been significantly discounted. The others have barely moved. A prospective buyer would likely offer less than $430k for the $440k house anyway. Additionally, I'm not sure how three year old house prices are relevant to the 2011 market.

There's no doubt house prices have plateaued for some years. But the margins are not substantial. It's definitely cheaper to rent than to buy. But that was equally true 30 years ago.

ozzieeagle

Interesting as I've just looked on Realestate.com.au... and cannot find the properties for sale that you have quoted.

Can you point to links that show these prices quoted please ?

http://www.realestate.com.au/buy/pro...ic+3000/list-4

I can see some places in Market st asking 379,000 plus. ????

Got to admit there are a lot for sale... maybe this is the one ?

http://www.realestate.com.au/propert...urne-105583784

HUP

If you want to get an idea of how willing to sell your vendor may be this site is very useful

http://www.refindhouseprices.com

It will show you how long a property has been on the market and whether the price has been reduced (and by how much)

ozzieeagle

Thats one hell of a useful site !

Margaret3

am luvin this website

Margaret3

good innit, makes me think i may even buy a house one day