I’ve been speaking to many real estate agents and developers around the country and many of them think the market might be coming back a little. Does anyone agree that its bottomed out and might be slowly coming back to life?
Hi Yorker,
Anecdotal evidence I have seen and experienced would suggest that is the case. Whether or not it (the coming back to life) is sustainable is another matter as another interest rate rise (if in fact it comes) will surely send the remainder of the herd back into something else.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
There’s a simple explanation Yorker, and it’s not rocket science……it’s called SPRING!!! [sunny] People will venture out more in the warmer climates, sunny days categorically point to lifting of spirits and people are inclined to be more relaxed about spending their money!!!
Winter, or colder months, have the reverse effect!!!
There are studies with facts/stats to prove this, I am happy to dig some out if you like, just let me know, plus I have a colleague who did a paper on same, and I’m sure he can provide more detailed information.
Cheers, [biggrin]
Jo
I agree with you that Spring is indeed a very active time in the market place. Do you think it can be sustained into the new year? I really don’t see interest rates rising more than 1%, and really if you can’t afford this you shouldn’t be in the game.
Yes, yes and finally, yes!!!!
Spring will turn into Summer, hence carry on into the new year.
Although my crystal ball is currently in for repairs, my GUESS (and note it is only an assumption) is that interest rates will not (if they are to rise) exceed the 1% mark!!!
And finally, absolutely in agreeance….however IMHO if you cannot afford to weather a 2% increase you should not be looking at committing to any housing loan ATM.
Jo
yorker,
I just wrote a post in ToughDeal’s post about units in sydney. I wrote that I have read that the sydney market is thought to rise 3% – 5% over the next year, but I can’t find the source article. So the pundits suggest there’ll be some growth, but obviously not as significant as the 14% average over the past few years.
kay henry
Hi Yorker
Certainly things in Sunny Tasmania are moving again NW Tasmania median price moved upwards 3% in the last 3 months to August( comm bank property stats) the enquiry level has certainly increased, and sales in the mid- high price range are now happening Yes Spring is in the air!!
BTW haven`t been to Rosebery for a while, but I would imagine the biggest problem there would be the lack of an on site property manager for selection and monitering of tenants. certainly cheap though!
Regards
Garrytas[email protected] Always have cashflow positive Tasmanian commercial properties
availableWhenever I want an unbiased objective opinion on the property market I always ask a real estate agent. Sorry forgot to mention honest.
ABC news 30/09 1.05pm “lending for August for property x%, the lowest since January 2003.”
Wonder what your real estate agents know that the reserve bank does not.
Originally posted by gmh454:Whenever I want an unbiased objective opinion on the property market I always ask a real estate agent. Sorry forgot to mention honest.
ABC news 30/09 1.05pm “lending for August for property x%, the lowest since January 2003.”
Wonder what your real estate agents know that the reserve bank does not.
Ah yes, but does that reflect the market in August ? or purchases made asy, 60 days prior ???
You may know the cost of everything…. but what about the value ????
True, it does represent loans closed not contracts exchanged, but at least it is statistical, and gives an idea on volume of total loans for property purchased.
Last time I checked, agents in January were telling us that the market was good for another 10% per year for X years, 15% for 2004, was still a sellers market etc etc etc.
It’s coming round to spring which does get more people out but they are usually first home buyers.
I don’t see any real growth for a while (a long while). It looks like values are rising just with inflation. Certainly nothing like what we’ve had.
As for Roseberry garrytas I would say no, mainly because of the already massive price rises and a large % of your market is in the employment of being unemployed.
Rgds.
Lucifer_auGuys,
just released our quarterly economic report, anyone want a copy? (Free of charge for forumites of course)Yes Please !!!
You may know the cost of everything…. but what about the value ????
Couild I please grab one Yorker?
Anyone else having problems bringing up the PM and Add Reply screens? I have to resort to Fast Reply.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Thanks Yorker can I have one as well, with regard to Rosebery I wasnt recommending a purchase, just pointing out the difficulty with managing a property there! No we don`t manage properties in Rosebery or sell them, with regard to RE agents comments, The facts can be checked,what has happened over the last 4/5 months in Tasmania is the volume of sales has dropped considerably, however the prices have not yet. Yes you are right the fantastic growth over the past 2/3 years will not be repeated untill the next cycle commences. When you consider that the median price of property here is less than $200,000 I dont think there is a great downside compared to other markets in Australia
Regards Garrytas[thumbsupanim][email protected] Always have cashflow positive Tasmanian commercial properties
available
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