Oz property boom deflating
Mar 7th 2004, 10:23 am
#76
BE Forum Addict
Joined: May 2003
Location: GC
Posts: 3,353
Interesting reading ABC. By the way, is that you in the avatar piccie?
Mar 7th 2004, 10:27 am
#77
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Originally posted by bondipom
Thats a big market. Would you include Ipswich and other areas away from the coast?
Thats a big market. Would you include Ipswich and other areas away from the coast?
In my area, nearer the water, the cheapest I can find is $225,000 with the cheapest rental being $ 210pw
Looking at that, i think that Ipswich still has room to move up.
Debsy, Yes, but, many years ago
When I was young and good looking
I think i had better change the avatar again, get back to my anonimity
Mar 7th 2004, 10:34 am
#78
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Joined: May 2003
Location: GC
Posts: 3,353
ABC - dont worry it is so small you can hardly see it
Mar 7th 2004, 10:35 am
#79
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Originally posted by debsy
ABC - dont worry it is so small you can hardly see it
ABC - dont worry it is so small you can hardly see it
Mar 7th 2004, 10:42 am
#80
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Originally posted by WBB
i bet this is not the first time he has heard that.
i bet this is not the first time he has heard that.
Mar 7th 2004, 7:05 pm
#82
Rocket Scientist
Joined: Aug 2003
Location: Dreamland AKA Brisbane which is a different country to the UK
Posts: 6,911
I spoke to an agent from Raine & Horne at Wynnum today who confirmed that the market in this area had cooled off since xmas & properties werent being sold anywhere near as quickly as that have been up until xmas. Average time on the market now for newly listed properties he says is about 6-8 weeks, unlike last year where most properties sold within a week or so of going on the market (personal experience - we sold 2 properties in June & Oct last year, both full asking price within 24 hrs). He said prices havent dropped, but enquiries have fallen dramatically & vendors who are keen to sell are now considering offers below the asking price whereas they wouldnt have done 6 months ago.
He says he has had more enquiries on properties in the last 2 weeks than he has in the whole time since xmas. His opinion is that the market will pick up again in the next few weeks & continue to climb steadily again. Perhaps hes just talking through his hat trying to get me to buy the property I was looking at today LOL, but I dont think so, I tend to agree that it will probably pick back up heading towards the middle of the year (as much as Im hoping for a huge crash, I dont think its gonna happen).
BTW, I am talking about the Wynnum/Manly area, I think some parts of Brisbane will probably not go up too much further, the lower priced areas in particular ie. I dont think Ipswich will make any huge increases, IMO what increases there are in the next couple of years will be much smaller than the expected 30%.
Cant even comment on the rest of Oz, Im certainly no expert
He says he has had more enquiries on properties in the last 2 weeks than he has in the whole time since xmas. His opinion is that the market will pick up again in the next few weeks & continue to climb steadily again. Perhaps hes just talking through his hat trying to get me to buy the property I was looking at today LOL, but I dont think so, I tend to agree that it will probably pick back up heading towards the middle of the year (as much as Im hoping for a huge crash, I dont think its gonna happen).
BTW, I am talking about the Wynnum/Manly area, I think some parts of Brisbane will probably not go up too much further, the lower priced areas in particular ie. I dont think Ipswich will make any huge increases, IMO what increases there are in the next couple of years will be much smaller than the expected 30%.
Cant even comment on the rest of Oz, Im certainly no expert
