Browse Forums Building A New House 1 Oct 18, 2009 3:24 pm Hi, I bought a block of land a few months ago and since then have learnt a lot from reading this forum. Our land doesn't settle until next March at the earliest and I have been wondering what prices will do over the next 6-12 months. Do you think the prices for building a new house will increase, decrease or stay the same over the next year? I presume demand will drop with the reduction of the FHOG which I think will result in tougher competition amongst builders. Do you think the Builders will have as many promotions as they do now? their seems to be alot at the moment. Thanks in advance.. Re: House Prices 2Oct 18, 2009 4:53 pm barge27 Hi, I bought a block of land a few months ago and since then have learnt a lot from reading this forum. Our land doesn't settle until next March at the earliest and I have been wondering what prices will do over the next 6-12 months. Do you think the prices for building a new house will increase, decrease or stay the same over the next year? I presume demand will drop with the reduction of the FHOG which I think will result in tougher competition amongst builders. Do you think the Builders will have as many promotions as they do now? their seems to be alot at the moment. Thanks in advance.. Base prices will definitely increase. Promotions come and go.. I guess all the promotions of a builder are equally as good.. they ALWAYS have promos. Re: House Prices 3Oct 18, 2009 7:07 pm Hi Barge i agree with saltnpeppers comments i do also have to wait next year feb-march for land to settle and we signed the land contracts 3 months ago ... i saw the sales rep from our builder and they no longer have a rebate which we got and no fencing included and price has hiked for land 16k !! thats huge for 3 months and the builders base price on the house have hiked up 5k also with the promo being cut back too ... unbeliveble im very fortunate and happy we signed when we did ! Re: House Prices 4Oct 18, 2009 11:12 pm "Promotions" are a builder's way of saying "You have to include this stuff, if you don't we'll charge you for it anyway". In my experience of watching Big M, they have a few different promotions on offer, and they adjust them every 3 months. They also did a little trick where they listed some of the standard inclusions in the promotion brochure. Those things you actually still get even if you aren't taking the promotion. Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: House Prices 5Oct 19, 2009 11:24 am I brought land in June this year, and we are hoping to get the title in late Dec / early Jan, we had pretty much decided on a house which was $163,000 base price and paid a deposit to lock it in (thank goodness) - this particular builder just opened a new display home and one of the houses displayed was in a price list I received in June 09 and it was $169,000, when I asked the weekend before the display home opened how much it was I was quoted $171,000 but when the display home opened the next weekend it was $181,000 - I couldnt believe that it could jump this much and I am so pleased I locked in my price when we did. I have other family members building at the moment with 2 different builders and they also seem to have risen significantly. So I believe prices will continue to rise even though the First home buyers grants have decreased. So I think the sooner you can work out which builder and get a deposit down the better. Prices have never decreased, even when times are tough. Site Start: 10th September, 2010 PCI : Friday 27th January, 2011. Handover: 3rd February, 2011 Build Thread: viewtopic.php?f=31&t=37677 Re: House Prices 6Oct 19, 2009 11:49 am From my observations over the last 18 months, it appears that base prices are increasing by about 3% every 3 to 4 months. Steel, concrete and copper prices have varied greatly over that time too. So I would suggest that house prices will continue to increase. Re: House Prices 7Oct 19, 2009 12:11 pm The end of the FHOG/FHOB will be interesting, I'm guessing that a lot of the bigger builders will change their advertising and start including their own FHOG's or something otherwise I expect there will be a drop in sales for the first few months 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: House Prices 8Oct 20, 2009 10:48 am lisanne The end of the FHOG/FHOB will be interesting, I'm guessing that a lot of the bigger builders will change their advertising and start including their own FHOG's or something otherwise I expect there will be a drop in sales for the first few months or they'll just lower their over-inflated prices which shot up as a result of the grant, and then people will be in the same position as buyers who got the grant but had to pay more.... Re: House Prices 9Oct 20, 2009 10:57 am I've read that once the grants and bonuses tail off they expect the investors to move in. The government has already started talking deals to increase the number of rental properties. If that is the case builders might not drop prices by much. Gravity. Its the law. At lock-up stage(lock-up stage) https://forum.homeone.com.au/viewtopic.php?f=31&t=25438 Re: House Prices 10Oct 20, 2009 10:59 am I agree with JCjuice, I think if we were able to get our hands on price lists from 08, I think we would all die of shock to see the inflated prices we have paid because of the FHOG. Site Start: 10th September, 2010 PCI : Friday 27th January, 2011. Handover: 3rd February, 2011 Build Thread: viewtopic.php?f=31&t=37677 Re: House Prices 11Oct 20, 2009 11:36 am jcjuice lisanne The end of the FHOG/FHOB will be interesting, I'm guessing that a lot of the bigger builders will change their advertising and start including their own FHOG's or something otherwise I expect there will be a drop in sales for the first few months or they'll just lower their over-inflated prices which shot up as a result of the grant, and then people will be in the same position as buyers who got the grant but had to pay more.... ...who are still better off than people who DIDN'T get any grants, but had to pay the inflated prices as a result of them. Stupid, short-sighted, vote-catching government strategies. Demand will drop initially. I'm not betting on any big price decreases in the short term, but it will depend on how desperate the builders get. trepidman I've read that once the grants and bonuses tail off they expect the investors to move in. The government has already started talking deals to increase the number of rental properties. If that is the case builders might not drop prices by much. I've read some opinions along those lines too. I guess we'll have to wait and see. I'm interested to see what established properties do too. Anyone got a crystal ball? Re: House Prices 12Oct 20, 2009 11:58 am trepidman I've read that once the grants and bonuses tail off they expect the investors to move in. The government has already started talking deals to increase the number of rental properties. If that is the case builders might not drop prices by much. I've noticed that our builder, Scott Park Homes, has started advertising "Investor Packages" already. New beginnings. Re: House Prices 13Oct 20, 2009 12:16 pm We signed just over a month ago and since then the base price has gone up 7k and the inclusions have gone down...pretty happy in that regard. I have definitely noticed lately that base prices for most builders have gone up and the number of inclusions has dropped Re: House Prices 14Oct 20, 2009 12:59 pm My suggestion is to find at least 3-4 builders with the house plan that you like most then look at their current promotion. Ask about the procedure of purchase since Big M only include 150 days after you pay desposit, after that you'll pay 0.5% interest if you don't start building. Some other builder will give you 6 months to hold the price. Other builder will give 17 weeks before price increase, etc. Base price will definitely increase. Waiting for 2010 Land registration.... Re: House Prices 15Oct 21, 2009 2:03 pm Hi Guys, It is a difficult job knowing what builder to go with. Most people choose a builder based on a floorplan that they like or because the builder is well known as they spend loads on advertising. Can I suggest this is often not the best determining factor in choosing who to build with. I sub contract to a builder (****** Homes) who can design a home that you like. Many clients I have get a floorplan designed, sited and quoted before any deposit is paid. This is generally unheard of as most builders try and get you 'off the market' by taking a deposit. Kind regards, Jason Re: House Prices 16Oct 21, 2009 5:19 pm Hi Jason, That's really interesting and nice of you. I will PM you about this. Thanks. jasonashby Hi Guys, The worst case scenario is that your mind will be put to rest that you have been quoted a okay price. The best case is that you will save some dollars. Kind regards, Jason Waiting for 2010 Land registration....
Re: House Prices 17Oct 22, 2009 12:30 pm kek ...who are still better off than people who DIDN'T get any grants, but had to pay the inflated prices as a result of them. Stupid, short-sighted, vote-catching government strategies. umm - no-one HAD to pay inflated prices at all. It's just that some people were strangely prepared to do so. I didn't mind because I got the grant, but if I was ineligible for it, there's no way I would've bought in when I did. It's not like anyone forces you into a mortgage.... Re: House Prices 18Oct 22, 2009 1:04 pm Supply and Demand are powerful tools on the market when morons from the government do not intrude into the free markets. As far as I can see, the society is yet to understand all consequences of living beyond the means and the attitude is so positive that people do not believe anything can go down... DOW up, ASX up... unemployment up And this terrible Rudd's spending spree.... I do not really see that a deflation will happen. A deflation does not remove debt, an inflation is for this. And all acts done by the government, all this "spend your way out of recession" are the inflationary means. Accounting for this, I do not really believe that prices will go down - they set up (in fiat value, not in real). In 9 months the base price for the home I'm building went from 236 to 248 K.. According to real-estate media, the average home prices in Sydney went up by 22K.. ... built a Promenade with Clarendon. viewtopic.php?f=31&t=25104 20-10-09 - excavation and piering completed ... 12-04-10 - Basins fixed. Connecting to the electrical grid 23-04-10 - PCI 07-05-10 - HANDOVER! Tradie may sit at home but will need to get house plastered as well or will you sit it out? 6 9979 You’re on the right track, wire brush in a grinder then a zinc rich epoxy primer then a top coat of some sort, like a waterproofing membrane. Raising the concrete would… 1 7035 How good is Simeon?! Always taking time to help others out! Wish we were building in NSW and could work together. Thanks for all that you do! 7 6585 |