sula

Those of you already in Oz, do you think that house prices will continue to rise, stay as they are or drop within the next year?

Ceri

Depends on where in Aus, what area, what state, what city etc etc
Personally, no I don't think they are going to drop, I'm still seeing house rise prices.

Have you got a crystal ball?

Here's a thread for you to read (below link) It's about the same subject, someone else asked the same thing less than two weeks ago - and the answers and personal opinions from a few of us.

http://britishexpats.com/forum/showt...hreadid=219016

cheers

MrsDagboy

My personal opinion is that they have started to plateau out & most places will only see a small rise for this year.

Problem is that all areas are different & opinions are something that everyone has & arent afraid to share most of the time .

Ceri

I tell you where I wish I'd bought - Bribie..
I was looking to buy there years ago - I can remember when absolute canal frontage homes on Bribie ( around 3 years , or maybe 4 yrs back I seem to recall) were going for around $700 thou (680/690) - unbelievable now to think that isn't it.

The reason why we didn't buy there was "traffic" too far to travel to work.. it would have put maybe another 25 minutes on a journey ( doesn't sound much .. but every morning and evening - that's a pain) .. but if the workshop was closer to Bribie, we would have bought there.

And now this "hot house" thing - I bet that has added value to the homes ( more interest in Bribie) .. I watched that programme for the very first time the other night - I was P8ssing myself! .. why do they get onto a boat to leave the island?? - I bet they go round the corner and then jump into a ute ( to all others who don't know Bribie - it's joined by a big road bridge) .

Oh gawd I'm losing it - me watching cr*ppy shows!! .. help get me out of this country now !!! , I'm becoming brainwashed.. anyway - hope that "biker looking" couple win , that will upset the locals

jayr

... and drive property prices down

Ceri

seriously though about 3 or it could have been four years back - absolute canal frontage there was around the high 6 hundred grand mark - cheap as chips ( now they recon this hot house thingy is 2 million) .

Got to laugh at that couple - they seem the only normal ones -.. well normal to me ( I hate snobs, or inverted snobs). Nothing worse than a jumped up snob - all real millionaires I know - you would not be able to tell. The poorest people are always the ones who go round with gold dripping from them ( ahhh so common!) The rich ones look like "tramps".

Megalania

Harry Triguboff, the developer of Sydney's 75-storey World Tower apartment block, said moves by the banks to tighten lending criteria for investment properties had made it more difficult for him to sell about 800 unsold units at developments in the eastern states.

Meriton to bankroll buyers

sula

Thanks for your replies.
Wouldn't it be great to have a crystal ball!!!!!!!!
It is looking more likely that if we do return to Oz we will rent our house out in UK until we know we are settled and feel confident enough to sell.

MrsDagboy

I wish to god we had bought in Bribie 2 years ago! Or Toorbul/Donnybrook. I still reckon that its an untouched growth area, commutable to Brisbane & close to the water. I'll get my fishing cottage there yet if I have my way .

dibrucewillis

Hi

We have recently been looking at real estate and land in Perths northern suburbs and we were told that land is forecast to go up approx $1000 per month and real estate approx 1% per month.
When we first started looking in April/ May last year you could buy a 600- 700sqm block of land the other side of Marmion Avenue( therefore not beachside ) for approx $95,000 compared to $130-150,000 now

Di

claireg3

We bought our land within a few weeks of getting here and we are glad we did as land around us is getting smaller in size but bigger in price.
We are in an area that has been tipped to rise quite dramatically though.

Claire

ABCDiamond

No one can be certain about prices, but I posted this info somewhere else yesterday, and it may be relevant to here, so:

In the last 10 years here in Australia, property has gone up by:

Sydney 166.2%
Melbourne 153.9%
Brisbane 144.8%
Adelaide 99.0%
Perth 96.2%
Canberra 90.3%

information calculated from: www.navra.com.au/

Make of the info what you will, but some areas haven't gone up as much as others.

bondipom

Sydney Auction Rate Lowest for March for 13 Years
http://www.smh.com.au/articles/2004/...017036684.html

Sydney has recorded the lowest auction clearance rate for March in 13 years, with more than half the properties listed failing to sell under the hammer.

The adjusted rate, which reflects changes in the way the rates have been calculated since last year, was 45.4 per cent last month, down from 51 per cent in February, Home Price Guide figures show. It was the lowest March figure since 1991, said Louis Christopher, research director at Australian Property Monitors.

"It is falling away at this time of year when, seasonally, it should be rising week to week."

Vendors who have relisted properties after they failed to sell last spring will be disappointed to find their chances of selling have not improved.

In Lewisham, the owners of a four-bedroom house knocked back a bid of $950,000 in October and put the property back on the market with an asking price of $995,000. It is now listed for $839,000 after it was passed in at $810,000 last month.

In Strathfield, a three-bedroom house in Nicholson Street was passed in at $1.06 million last month, after selling in November for $1.18 million.

While conditions are sluggish, the clearance rate would have to drop below 40 per cent before it was considered a sign of a crash, Mr Christopher said. The lowest clearance rate the Home Price Guide has recorded was 33 per cent, in June 1989.

Conditions for sellers improved slightly at the weekend, when the adjusted rate rose to 49.5 per cent. Many properties are still being withdrawn before auction. Thirty-four auctions at the weekend were postponed or cancelled.

Low clearance rates hid the fact that many properties were snapped up by buyers soon after auction, said Peter Kelaher, a buyers agent and managing director of PK Property Search and Negotiators.

bondipom

The headline is a bit dramatic but the story reflects a shift to negotiated sales rather than auctions.

Ceri

I've been advising people on here since I joined to look at Bribie for the Brissie region for affordable water front homes, and affordable beach environment ( since 2002 when I first joined this forum - I've been saying look at bribie)... coming from someone who's will speak my mind ( my rose glasses fell off somewhere along the line.. many moons ago - I think they dropped into the sewage at luggage point) . but alas nobody took any notice

ahh B8gger 'em.. they've missed the boat on that one ..
tough T*tty. ( so to speak... ages since I've said that saying "tough titty" ..lol, I haven't heard that saying for yonks (years.. and I haven't heard yonks for years!!!) )

cheers