goodfellauk

Hi everyone, spoke to an agent yesterday (go matilda) and feel they are the company to take us to oz.With my wife qualifications (staff nurse)etc we have 125 points, We are going for it!! a quick question about property prices in oz .Is the price that is advertised the price you pay? or is it like scotland where the asking price normally goes 15-20% over or is it like england where you offer under the asking price??

any help would be greatly appreciated!!

jim

biggy

Hi Jim

It all depends how desperate the people r to sell...what they will accept.....we put an offer in on a house....the estate agent came to us....we signed a contract saying that we were willing to pay $300,000 the asking price was $325,000 which we knew was way over priced, she then took the contract to the owner....he then writes on it what he expects to get for the house......she then came back to us, he has said nope $325,000 it is and not a penny less, so we thought....bloody sod u then, and I wrote on it...well u can keep it then...lol

We have since foind out that he should have taken our offer cos it took 5 months to sell it and he got $298,000 for it....serves him right.

Most of the properties over the last few months have sold for under the asking price.........as most folks put over the market value, just incaes they get some mug willing to pay it!!!!!

It also seems to be the thing here to just put ur house up for sale to see what the interest is....most peeps with no intention on selling which is a right pain in the arse for serious buyers....it is also seems to be a favourite activity at the weekends to drive round "open houses' just for something to do....strange

tracey.d

so we thought....bloody sod u then, and I wrote on it...well u can keep it then...lol

lmao

ABCDiamond

Both of your points are very true

We have had two experiences of this. One agent advised that we advertise one property at $485,000, then came back saying he had an offer of $435,000 which was a realistic price. (The agent hadn't mentioned this to us first, he led us to believe it was worth $485k)

Second time, a house worth $280,000, the agent said advertise at $309,000 and we will probably get the $280k, or we may be lucky and get "some mug" (your words) offering full price

Many houses have been on the market for $50k+ over the value, just in case

Kiwipaul

Got to agree in most suburbs in SE QLD the prices are falling and it's an ideal time for a cash buyer who can bargin hard. How long prices will fall I've no idea and so in some respects it's a gamble.

This from the Courier mail today:


House prices slump
Melissa Maugeri, property editor
07may05
HOUSE prices in Brisbane have suffered their biggest quarterly drop in median values in 10 years.

The 3 per cent fall in the March quarter equals the largest quarterly drop on record – which occurred during the last housing downturn in 1994-95.

Figures from the Real Estate Institute of Queensland reveal a pronounced slowdown in the southeast corner in price growth and number of house sales.

The REIQ recorded 2095 sales for the March quarter, 33 per cent down on the same period last year.

At the height of the boom in the 2003 September quarter, 3354 properties changed hands.

Adding to the bad news for Brisbane homeowners, the Reserve Bank warned that while rates were on hold "for the time being" it would be "surprising" if interest rates did not rise again

Full Story

ABCDiamond

People also have to watch out for the different areas, and types of property in each area.

I get my median prices data from http://www.homepriceguide.com.au/snapshot/

And this month it has the median prices for "Units" in Bayside South, as dropping in price from last month from $210k to $200k, a 4.8% drop in one month.
However, House prices stayed static at $325,000.

In my own area of Victoria Point -
Units dropped from $228k to $222k a 2.6% drop
but Houses increased from $365k to $369k a 1.1% increase.

JackTheLad

Thats a really odd way to phrase a price drop isn't it?

'Slow down in price growth' . Does that mean prices are rising slower, or are they euphamisitcally refering to a price drop. Or are they saying for march the price dropped, but for the year the prices rose, but because of the march figure its made the rise look smaller?

JTL

ABCDiamond

Yes

Kiwipaul

Got to agree Beachfront are still storming ahead, and Riverfront and Ocean front are not so badly affected as the average suburbs.

goodfellauk

i really appreciate all of your input on the subject people!! Still looks like a minefield all information greatly received..

many thanks

Jim