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Housing bubble in Australia

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Old Feb 7th 2010, 9:29 am
  #106  
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Default Re: Housing bubble in Australia
Worth posting again, in it's full glory ......




http://www.marketoracle.co.uk/Article16958.html
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Old Feb 7th 2010, 9:38 am
  #107  
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Default Re: Housing bubble in Australia
Originally Posted by ABCDiamond
In that case, I repeat "You don't read many of my posts do you"
Nothing much to read I suppose that's why...plenty to look at though. It's a bit like picking up a copy of Dandy! A bit less fun though
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Old Feb 7th 2010, 10:07 am
  #108  
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Default Re: Housing bubble in Australia
Originally Posted by swigski
Nothing much to read I suppose that's why...plenty to look at though. It's a bit like picking up a copy of Dandy! A bit less fun though
Come on mate. It was more interesting when you used to challenge the arguments rather than the man.

How do we determine who's won at the end of March?
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Old Feb 7th 2010, 11:27 am
  #109  
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Default Re: Housing bubble in Australia
Originally Posted by MartinLuther
Come on mate. It was more interesting when you used to challenge the arguments rather than the man.

How do we determine who's won at the end of March?
Whatever the situation at the end of March, you can bet there will be a set of statistics to prove otherwise so who cares??
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Old Feb 7th 2010, 11:34 am
  #110  
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Default Re: Housing bubble in Australia
Originally Posted by swigski
Whatever the situation at the end of March, you can bet there will be a set of statistics to prove otherwise so who cares??
I think we need a group hug ((((())))))
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Old Feb 7th 2010, 9:21 pm
  #111  
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Default Re: Housing bubble in Australia
Originally Posted by MartinLuther
I think we need a group hug ((((())))))
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Old Feb 7th 2010, 9:34 pm
  #112  
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Default Re: Housing bubble in Australia
Originally Posted by MartinLuther
I think we need a group hug ((((())))))
do you mean gang bang ? if so i will stick with the graphs.
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Old Feb 7th 2010, 10:04 pm
  #113  
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Default Re: Housing bubble in Australia
Originally Posted by eugene43
do you mean gang bang ? if so i will stick with the graphs.
No.

Just a group hug. ((((()))))
Last edited by MartinLuther; Feb 7th 2010 at 10:07 pm.
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Old Feb 7th 2010, 10:27 pm
  #114  
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Default Re: Housing bubble in Australia
Originally Posted by pomtastic
But what does that actually mean ?

Take Sydney for example with 26,000 new mortgage holders having to spend 57% of the median average wage of all workers over 15 part time and full time, on their mortgage.

The question though is what percentage of the median income of those 26,000 gets spent on the mortgage repayments ?

There will be very few 15 year olds with a part time job getting a mortgage, yet they compare their incomes in those figures.

Most mortgage holders, with full time jobs, will be earning more than the average $922 per week.

The actual percentage comes out closer to 25% when looking at the real figures.

Average New Mortgages in Australia January 2010

$397,888 NSW
Repayments would be $2607.56 per month
That repayment is 57% of an annual wage of $54,850

The average annual income for a couple in NSW is: $127,743 with both working full time.

The repayments for this average couple would therefore be 24.5%
 
Old Feb 7th 2010, 10:43 pm
  #115  
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Default Re: Housing bubble in Australia
Originally Posted by ABCDiamond
But what does that actually mean ?

Take Sydney for example with 26,000 new mortgage holders having to spend 57% of the median average wage of all workers over 15 part time and full time, on their mortgage.

The question though is what percentage of the median income of those 26,000 gets spent on the mortgage repayments ?

There will be very few 15 year olds with a part time job getting a mortgage, yet they compare their incomes in those figures.

Most mortgage holders, with full time jobs, will be earning more than the average $922 per week.

The actual percentage comes out closer to 25% when looking at the real figures.
To some extent. There is also the issue of investment buyers and their mortgages, which they expect to be paid for by rental income: ie the people on the lowest end of the income bracket.
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Old Feb 7th 2010, 10:54 pm
  #116  
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Default Re: Housing bubble in Australia
Originally Posted by Burbage
To some extent. There is also the issue of investment buyers and their mortgages, which they expect to be paid for by rental income: ie the people on the lowest end of the income bracket.
And looking at the 3 numbers quoted for the mortgage split in January 2010:

33.7% to Property Investors
12.9% to First time buyers
36.2% for refinancing purposes

It appears that investors are taking a fair chunk.

Some of the "experts" are predicting that rents will now be rising faster than mortgage rates, in the catch up mode.
 
Old Feb 7th 2010, 11:14 pm
  #117  
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Default Re: Housing bubble in Australia


Perfectly sustainable.

The average income in Australia is around $78k. This takes into consideration all the benefits such as family tax benefit etc...

Median house prices are expected to topple the $1Million barrier within 10 years.

http://au.pfinance.yahoo.com/b/peter...o-buy-a-house/
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Old Feb 7th 2010, 11:24 pm
  #118  
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Default Re: Housing bubble in Australia
Originally Posted by coolshadows
http://img194.imageshack.us/img194/3834/rpdata.jpg



Median house prices are expected to topple the $1Million barrier within 10 years.

http://au.pfinance.yahoo.com/b/peter...o-buy-a-house/
They churn out this kind of rubbish out every now and then to frighten the punters into buying, .....

How about this one, house prices to hit $1 million in 2012, written in 2003. Ahhhh, the memories.

Median house price to hit $1m by 2012
EXCLUSIVE | By Hannah Edwards, Property Writer
July 6 2003
The Sun-Herald


If you are already staggered by Sydney's booming real estate market you'd better sit down - the median house price has been tipped to reach $1 million by 2012.
http://www.smh.com.au/articles/2003/...179204746.html
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Old Feb 7th 2010, 11:37 pm
  #119  
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Default Re: Housing bubble in Australia
Originally Posted by pomtastic
They churn out this kind of rubbish out every now and then to frighten the punters into buying, .....

How about this one, house prices to hit $1 million in 2012, written in 2003. Ahhhh, the memories.



http://www.smh.com.au/articles/2003/...179204746.html
From that July 6th 2003 report..
The next Sydney suburbs to join traditionally affluent areas such as Mosman and Vaucluse in the million-dollar club included Collaroy (which has a median house price of $972,500), Lindfield ($962,000), Narrabeen ($950,000), Roseville ($940,000) and Cronulla ($911,000).

Long-time Cronulla residents Marjorie and Allan Kalloway hardly care that their suburb will soon have a $1 million median house price.
From current figures:
Dec 09 Median Price
Cronulla $1,050,000
 
Old Feb 8th 2010, 12:20 am
  #120  
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Default Re: Housing bubble in Australia
Originally Posted by ABCDiamond
From that July 6th 2003 report..


From current figures:
Dec 09 Median Price
Cronulla $1,050,000
All very good but will wages increase at such a rate. If not, the bubble just got even bigger!
Last edited by swigski; Feb 8th 2010 at 12:20 am. Reason: l
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