Browse Forums Real Estate 1 Apr 28, 2008 8:33 am wow...how dead has it become. Only 6 months ago it was going through the roof.
Buyers now have stopped bidding cos of interest rates and waiting for prices to drop even further. Sellers have stopped listing cos they know value has gone down. And an agent tells me it's a good time to buy. Yeah...only if they're something TO buy. Re: Current property market 2Apr 28, 2008 8:58 am d@n wow...how dead has it become. Only 6 months ago it was going through the roof. d@n Sellers have stopped listing cos they know value has gone down. And an agent tells me it's a good time to buy. Yeah...only if they're something TO buy. However factoring in on less sellers, and the same amount or more 'opportunist' buyers - and that ratio could see supply & demand pricing come into play again, with minor value increases due to less supply. Re: Current property market 3Apr 28, 2008 9:48 am Dan Sold my block after 1 day on the market for asking price, houses are being snapped up in my area at the moment (some high prices).
So not all doom and gloom. (better not be still have to get this house on the market!) Paula Re: Current property market 4Apr 28, 2008 9:54 am We sold our house last week with the settlement time frame we wanted, 200 days and for the price we were after and set a new record for the area - Cranbourne West.
We were wrapped, even got the money back for no advertising, never got the chance for it to be advertised.... The agent bought through a few couples, families that were already on their books looking for something like our house or of similar requiements and bingo.... Sometimes you can be lucky too.... I think the market will be dropping a little in about 2 - 3 weeks time in our area..... Hopefully the house will be finished before we have to move out.... Gav & Vanessa Building In Melbourne (Sth East Suburbs) http://www.arkraider.blogspot.com/ Rawdon Hill Construction - Canterbury Heritage Re: Current property market 6Apr 28, 2008 11:06 am I heard on the radio that it was coming back more in the inner Melb surburbs then the outer.
Theory being that people are more reluctant to carry ""huge"" mortgages and looking to move further out for a more affordable home. Berwick apparently rose over the last 3 months... good to hear for us. Not sure if it will continue, guess if depends on if there are a lot of mortgagee auctions. Re: Current property market 7Apr 28, 2008 11:09 am mudtrilogy I heard on the radio that it was coming back more in the inner Melb surburbs then the outer. Theory being that people are more reluctant to carry ""huge"" mortgages and looking to move further out for a more affordable home. Berwick apparently rose over the last 3 months... good to hear for us. Not sure if it will continue, guess if depends on if there are a lot of mortgagee auctions. It maybe my position on the totem pole but if I was looking for a house now it would definately be inner not outer - with fuel and transport set to rise 50% or so in the coming years...public transport and proximety to work and schools is a must. Re: Current property market 9Apr 28, 2008 11:17 am I agree but remember not everyone works in the city and the projection is for more offices to move out to box hill/ dandenong/ scorbesy etc
Anyway its just what I heard on the radio. Re: Current property market 10Apr 28, 2008 11:20 am Also more and more private schools are expanding into the outer suburbs eg. Haileybury at Beaconfield is expanding rapidly, there is another huge one in Lilydale, and Bayswater (not haileybury but can't remember name) Re: Current property market 11Apr 28, 2008 11:55 am mudtrilogy Also more and more private schools are expanding into the outer suburbs eg. Haileybury at Beaconfield is expanding rapidly, there is another huge one in Lilydale, and Bayswater (not haileybury but can't remember name) I'm a bit puzzled by this sort of situation - most people are moving out to be more affordable, yet so are the elite and very expensive private schools... Most of the people who would go to those said private schools tend to be in the upper crusts of society, tending to work in the city and tending to live in the city... Re: Current property market 12Apr 28, 2008 12:14 pm I bought a house in Pakenham on Thursday (on behalf of my folks who were away) and we offered a full $10K less than the offered sale price and got it!
They listed their house on the previous Thursday and sold it on the tuesday for the full amount. The agent showed me his sale board for the month and there is no signs of slowing in Pakenham at all! Re: Current property market 13Apr 28, 2008 12:26 pm Perhaps people are choosing to have smaller mortgages so they can afford better schools????
I think private schools in general are experiencing huge demand at the moment ...... Re: Current property market 14Apr 28, 2008 12:37 pm mudtrilogy Perhaps people are choosing to have smaller mortgages so they can afford better schools???? I think private schools in general are experiencing huge demand at the moment ...... Only because the quality of education in other places is really sliding... I'm still shocked when some of my students come to me and tell me about what they (or rather don't) know about a particular subject. Parents just don't trust the state education system anymore - unless it is one of the more famous like MacRob or MelbBoys. Re: Current property market 15Apr 28, 2008 1:04 pm mudtrilogy Perhaps people are choosing to have smaller mortgages so they can afford better schools???? Good point mudtrilogy. Joeygbh seems be making a great deal of generalizations. eimaj[/quote] Re: Current property market 16Apr 28, 2008 1:49 pm eimaj mudtrilogy Perhaps people are choosing to have smaller mortgages so they can afford better schools???? Good point mudtrilogy. Joeygbh seems be making a great deal of generalizations. eimaj I admit it was possibly a strong generalisation, but after 13 years dealing with students I have seen the quality of knowledge change, whether it be from themselves or the teaching standards (probably both) I can see why there is a drive towards more private schools with their stricter curriculum. But that is neither here or there... on this topic - sorry for the thread steal (if you didn't guess teaching is a passion of mine). Re: Current property market 17Apr 28, 2008 1:53 pm joeygbh I admit it was possibly a strong generalisation, but after 13 years dealing with students I have seen the quality of knowledge change, whether it be from themselves or the teaching standards (probably both) I can see why there is a drive towards more private schools with their stricter curriculum. But that is neither here or there... on this topic - sorry for the thread steal (if you didn't guess teaching is a passion of mine). that'd be an even stronger generalisation.......... Built Porter Davis "Dromana" 2007. Re: Current property market 18Apr 28, 2008 2:11 pm I remember reading an article about the price of housing in the western Sydney suburbs continuing to rise after the rest of Sydney prices stalled. Eventually the western Sydney prices basically crashed while the rest of Sydneys prices stagnated.
Maybe the same thing is happening in Melbourne. Re: Current property market 19Apr 28, 2008 2:57 pm Yep - western Sydney prices are not moving at all.
We sold in Nov 07, settled the week before Xmas. It was just after the 1st rate increase but before all of the other ones - we were very lucky. Got a record price for the area. Now - even the asking prices are less than what we got - and no nibbles. After 4 years - we're in! Re: Current property market 20May 15, 2008 3:53 pm Fair to say that the RBA is the biggest congregation of idiots on the planet - and that is an accurate generalization. Higher IR have only hurt one group of people - those that can least afford to be hurt. Look around the World (aside from NZ, Argentina etc), and low IR are the norm, and they should be the norm here. Eventually suppy / demand slows an economy , and that's what we should be letting happen. The more you try to engineer an outcome with property growth, the worst the outcome becomes.
Back to the topic, its still about location. Some parts have slowed, but some are still cooking, even at these ridiculous rates. The most beautiful doors and furniture in the World isn't a garage level with the rest of the house a given? pretty sure they 'came around' long time ago. if you have a flat block, the garage is usually level with the rest… 1 17528 2 5966 Hi Everyone, wondering if anyone has done a prestart lately with summit homes in WA and what kind of costs were associated with adding gpo's and downlights? we are also… 0 3867 |