OZ BOOM is over?...house prices falling & rates might drop
May 7th 2010, 11:59 pm
#1
Pie Eater
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Joined: Sep 2007
Location: South Australia
Posts: 770
OZ BOOM is over?...house prices falling & rates might drop
First suggestion that rates might actually FALL!!!...
Rates to fall along with value of homes
I wonder if we'll see signs of 'profit taking', like we do with shares?
"There is now a small bias for a decrease in June," ASX derivatives markets manager Kristye van de Geer said yesterday.
Should the euro zone woes worsen "there would be the potential that we would see quarter-on-quarter falls at the end of the year", Mr Christopher said yesterday.
Residex CEO John Edwards also said price growth would moderate. He forecasts 5-8 per cent overall.
The top end of the market would do best, while some cheaper areas of southwestern Sydney were already going backwards.
"We have seen a fall in the value of assets in the assets in those markets of up to 3 per cent this year," Mr Edwards said.
"And the rate of that fall has been accelerating."
Residex CEO John Edwards also said price growth would moderate. He forecasts 5-8 per cent overall.
The top end of the market would do best, while some cheaper areas of southwestern Sydney were already going backwards.
"We have seen a fall in the value of assets in the assets in those markets of up to 3 per cent this year," Mr Edwards said.
"And the rate of that fall has been accelerating."
I wonder if we'll see signs of 'profit taking', like we do with shares?
May 8th 2010, 1:54 am
#2
Account Closed
Joined: May 2009
Posts: 2,708
Re: OZ BOOM is over?...house prices falling & rates might drop
First suggestion that rates might actually FALL!!!...
Rates to fall along with value of homes
I wonder if we'll see signs of 'profit taking', like we do with shares?
Rates to fall along with value of homes
I wonder if we'll see signs of 'profit taking', like we do with shares?
May 8th 2010, 3:18 am
#3
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Joined: Feb 2008
Location: Kawana, Sunshine Coast
Posts: 325
Re: OZ BOOM is over?...house prices falling & rates might drop
Rates won't fall unless Europe as a whole gets into trouble or China stalls.
May 8th 2010, 3:43 am
#4
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Joined: Apr 2008
Posts: 61
Re: OZ BOOM is over?...house prices falling & rates might drop
And then there's this:
http://au.news.yahoo.com/thewest/a/-...push-up-rates/
Really, no one knows what's going to happen. The day before the dollar was hit and started it's decline to .62 USD, I read an article saying it will hit parity in the next month. I've come to conclusion that even 'experts' can't say what's going to happen.
http://au.news.yahoo.com/thewest/a/-...push-up-rates/
Really, no one knows what's going to happen. The day before the dollar was hit and started it's decline to .62 USD, I read an article saying it will hit parity in the next month. I've come to conclusion that even 'experts' can't say what's going to happen.
May 8th 2010, 4:36 am
#5
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Posts: 1,157
Re: OZ BOOM is over?...house prices falling & rates might drop
Yeha I remember about 2 months back when one analysit predicted more than aprity.
May 8th 2010, 6:46 am
#7
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Re: OZ BOOM is over?...house prices falling & rates might drop
No way, especially with inflation is being unruly at present. The point of interest rates rising is to bring home prices under control amongst other things. It seems to be somehow ingrained in the Australian subconscious that house prices should go up quarterly or the sky will fall down.
It kinda shits me that so many people in this country have been brainwashed into thinking property property property. I don't think I know anyone who just owns one house
It kinda shits me that so many people in this country have been brainwashed into thinking property property property. I don't think I know anyone who just owns one house
May 8th 2010, 6:52 am
#8
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Posts: 50
Re: OZ BOOM is over?...house prices falling & rates might drop
No way, especially with inflation is being unruly at present. The point of interest rates rising is to bring home prices under control amongst other things. It seems to be somehow ingrained in the Australian subconscious that house prices should go up quarterly or the sky will fall down.
It kinda shits me that so many people in this country have been brainwashed into thinking property property property. I don't think I know anyone who just owns one house
It kinda shits me that so many people in this country have been brainwashed into thinking property property property. I don't think I know anyone who just owns one house
Same happend over in UK and USA...
May 8th 2010, 7:01 am
#9
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Re: OZ BOOM is over?...house prices falling & rates might drop
Last edited by soulrebel; May 8th 2010 at 7:41 am.
May 8th 2010, 7:44 am
#12
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Posts: 1,855
Re: OZ BOOM is over?...house prices falling & rates might drop
The housing boom won't end unless OZ goes into recession and that won't happen while China continues to buy up OZ's massive natural resources.
May 8th 2010, 7:46 am
#13
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Re: OZ BOOM is over?...house prices falling & rates might drop
Exactly the same thing happend in Ireland, everyone wanted to jump on the property bandwagon, (All the banks were telling them to BUY, BUY, BUY!!) and then look what happened, everyone was too greedy and it couldn't go on forever. I know people like that too Centurion, even some who have 3/4/5 properties and they are now f**ked!!!!!!!! I predict property prices will crash in Oz too but when I don't know??
May 8th 2010, 7:55 am
#14
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May 8th 2010, 8:48 am
#15
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Re: OZ BOOM is over?...house prices falling & rates might drop
I couldn't be happier for them
Last edited by IndieG; May 8th 2010 at 8:51 am.