I remember the comment about the jobs we are producing in this country are for dirt diggers, farm hands and chamber maids. Oh yeah and chippies and plumbers.

The strength of our economy in recent years has been one boomer selling their overpriced house to another, kicked off by the First Home owner grant designed to save the Fed Govt from a blder…[Read more]

Originally posted by dmichie:

Quote:
I attended a few auctions last Saturday and not only was the reserve not met, no-one made a bid at any of them.

AND that is one of the problems. When people beleive the market is going up you buy first and scamble to sell your place knowing that demand is there. Now people are waiting until they sell before…[Read more]

Marsden said it for me but got to agree that Dimichie and Foundation don’t appear to be selling anything and are attempting to read the data accuately.

A lot of lending is debt consolidation, don’t know how they extract that from the figures, but it is what Sydney brokers have been telling me for a while.

Not sure about Nth Beaches but I am…[Read more]

Originally posted by AUSPROP:

as for the smaller investor… there has been talk for some time now that an undersupply of new apartments in the pipeline may result in problems down the track. Developers are gettting scared of reports of a glut of apartments, so why build when there is no one to buy your product and your construction costs are…[Read more]

Originally posted by LeighK:
Hi Guy

Hyperthetical
What would you do with 5 acres of land and small 3 bedroom cottage on it and not subdivable for maybe 5 to 15 years, located approx 1hr from Sydney CBD (that’s normal in Sydney) to make it CF+?

Let’s here your creative thoughts.

Cheers
Leigh K

http://www.ldesignegallery.com

We bought one of these…[Read more]

So…you are willing to put up your time, effort and “zeal ” balanced by my capital….hmmmm how do I know how hard you will work to make my capital a winner and not a LOSER ?????

What part of your anatomy are you willing to offer as security ????

Originally posted by AUSPROP:

if BGC stopped selling homes completely it would take them 2 years to get on top of the situation!

Sorry John can you elaborate on above.
Thanks Terry

Yep and sentiment will shift as the stories become common.

A large amount of these new apartments are coming off their Rental Guarantees this year. A broker has passed on some stories on some Darling Harbor apartments which had a rent drop from $800 per week down to under $500 when the retal support finished.Some investors who were steered into…[Read more]

Originally posted by gmh454:

Quote:

Saw in a RE window last week a weathboard in Parramatta for around 580K. Polished floorboards new kitchen, bathroom, light fittings, curtains, shrubs in the yard BUT with a house that is still way small for Sydney, single garage (shed) with a large yard. It reminded me of the old saying can’t polish a…[Read more]

A general rule of thumb is that unless it has a special character, like a inner city terrace, older houses utilise too smaller % of available land.

PPl today simple want a larger living area than can be found in older houses.

I beleive next month in Kellyville they are giving away a free RE agent with each town house (the ones next to the mall )

Agree on Nth Parramatta.

I am amazed at how many Town houses Apartments are coming up for completion in next 18 mths in a area that has yet to absorb a huge number of those released at end of last year. Thank god for the 1000…[Read more]

Junkers, could not agree more.

Originally posted by Derek:
Hi all,

One isse that doesn’t seem to have been raised yet is that the Australian property market is not a single entity.

There are different states, different cities, different towns/shires and finally individual properties can and do perform differently to the broader market. They are not all at the same place at…[Read more]

Originally posted by ian_from_brisbane:
Originally posted by christobell:
…he said there are twice as many sellers as buyers at the moment..Hmmm..what does that tell us.

It tells me that now is a great time to buy.

WHY ?????

Yeah many people have said that the growth that would support the “never ending Boom” was not supported by fact.

Thing that interests me is the huge number of apartments and town houses that are completed or nearing completion in the Sydney NW (middle class suburb). Should be interesting.

In some cases whole blocks with only a couple sold, and…[Read more]

Timely post.

Have a client going out the back door. Draws down 150K per year and business has made 30K to 90K.
AND we now have problems, ….who would have thought.

Last year, owing ATO 100K, creditors 100K more than debtors, Overdraft maxed out, no equity left to borrow on house, bought 2 new 60k cars.
Go figure.

Originally posted by kaloni:

The index measuring whether now was a good time to buy a major household item fell by 18.2 per cent, Mr Evans said.

Australian consumers were also much less confidence about housing, with the index measuring whether now was a good time to buy a dwelling falling by 13.3 per cent.

”

It might not just be the effect…[Read more]

Originally posted by MichaelYardney:
“Some areas have dropped in value by 40%” says the article including Frankston South (a drop of 19%) an area mentioned in a number of posts in this forum.

We have discussed before how statistics lie and how these figures are skewed by the type of property sold.

Agreed about stats but it works both ways.…[Read more]

Originally posted by brisbanescouting:

Agree that human nature drives the economy. I think supply and demand is too simplistic.

A Russian economist, can’t remember his name came out with a theory in the 1920’s that there is a lifetime cycle (around 70 years for major crashes) and it has mini cycles within each macro cycle.

All cycles were based on human reaction to what people had…[Read more]