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Aussiebird

House prices going up??

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Hi,

I have noticed that house prices to buy are going up in south west WA, particularly between Secret Harbour to Halls Head.

Has anyone else noticed or are we just missing out on the cheaper ones?

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Look up the term "dead cat bounce".


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The COVID prick that pops the bubble.


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I don't think house prices will do much but fall in the next 12 months. I could be wrong though as apparently the rental market is thriving....investors are buying but they don't want to pay decent prices....

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50 minutes ago, HappyHeart said:

I don't think house prices will do much but fall in the next 12 months. I could be wrong though as apparently the rental market is thriving....investors are buying but they don't want to pay decent prices....

I wouldn't believe anything you read in the West Australian about house prices.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.corelogic.com.au/research/daily-indices&ved=2ahUKEwiDxdKX4tPrAhUGDuwKHbhGBa8QFjAAegQICRAD&usg=AOvVaw2OUyil1RuitM_f_uuxuP6z&cshid=1599369113395

Will give you a good indication of what is happening.

Reiwa do give stats but I'm not sure how accurate they are. It's fine in a suburb like ellenbrook where all the housing stock is pretty much the same. But somewhere like applecross, where the housing stock can range between one and five million, in quiet times some of the stats can be very inaccurate. 

The west Australian had kallaroo rising 15% the other week. I would take that with a pinch of salt.

UK houses have jumped because the government dropped stamp duty. Unless the government in Australia does the same. But their incentive mostly involves building new property, which increases the housing stock, which will depress prices overall.

But in the long term without government intervention, I would expect the recession in Australia and England to depress house prices over the next couple of years.

Edited by newjez
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On 11/02/2020 at 09:01, Aussiebird said:

Hi,

I have noticed that house prices to buy are going up in south west WA, particularly between Secret Harbour to Halls Head.

Has anyone else noticed or are we just missing out on the cheaper ones?

In that specific area and lower, there is a new lithium mine being built near bunbury, so that could cause some short term pressure on housing when they build it, although mines take a lot more people to build them than run them.


Nearly there! Don't drop the ball now guys! Vaccines are weeks away. Stay safe!

 

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3 hours ago, newjez said:

I wouldn't believe anything you read in the West Australian about house prices.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.corelogic.com.au/research/daily-indices&ved=2ahUKEwiDxdKX4tPrAhUGDuwKHbhGBa8QFjAAegQICRAD&usg=AOvVaw2OUyil1RuitM_f_uuxuP6z&cshid=1599369113395

Will give you a good indication of what is happening.

Reiwa do give stats but I'm not sure how accurate they are. It's fine in a suburb like ellenbrook where all the housing stock is pretty much the same. But somewhere like applecross, where the housing stock can range between one and five million, in quiet times some of the stats can be very inaccurate. 

The west Australian had kallaroo rising 15% the other week. I would take that with a pinch of salt.

UK houses have jumped because the government dropped stamp duty. Unless the government in Australia does the same. But their incentive mostly involves building new property, which increases the housing stock, which will depress prices overall.

But in the long term without government intervention, I would expect the recession in Australia and England to depress house prices over the next couple of years.

We will be selling in about 3 years. Im a bit scared about what will happen. Our house is already worth about the same as what we paid 10 years ago....

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6 hours ago, HappyHeart said:

We will be selling in about 3 years. Im a bit scared about what will happen. Our house is already worth about the same as what we paid 10 years ago....

If you had bought less than ten years ago it would be worth less than what you paid. But Perth is like that. Nothing happens for years and then prices double or triple. If you are moving within Perth it doesn't matter whether your house price goes up or down. If you are coming back to the UK, at least the exchange rate is in your favour, and I can't see that changing much in three years with brexit, and unless china USA tiff really kicks off, the aud should stay strong. But what will be will be.


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We sold last year for less that what we paid 10 years previous. The estate agent told us prices in most suburbs were at pre-2008.

Just out of interest looked at realestate.com.au and there are houses still on there that were for sale in April 2019 when we moved.

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6 hours ago, s713 said:

We sold last year for less that what we paid 10 years previous. The estate agent told us prices in most suburbs were at pre-2008.

Just out of interest looked at realestate.com.au and there are houses still on there that were for sale in April 2019 when we moved.

This must just be Perth?  Even in Tassie (at least where we live) houses are still selling quickly and certainly the prices have risen hugely in the last 10 years.

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5 minutes ago, Toots said:

This must just be Perth?  Even in Tassie (at least where we live) houses are still selling quickly and certainly the prices have risen hugely in the last 10 years.

Yes it’s a Perth phenomenon. Sydney and Melbourne prices are out of this world compared to ten years ago. We got our of the market at the wrong time and I cannot see us affording our own home ever again


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3 minutes ago, Toots said:

This must just be Perth?  Even in Tassie (at least where we live) houses are still selling quickly and certainly the prices have risen hugely in the last 10 years.

Same here on the Sunshine Coast, my neighbour is an estate agent. A few weeks ago she had 4 open houses, 3 sold on the day, and the 4th went under offer a few days later. It seems that people who can now work from home are moving to the coast for the lifestyle.

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1 minute ago, Marisawright said:

Yes it’s a Perth phenomenon. Sydney and Melbourne prices are out of this world compared to ten years ago. We got our of the market at the wrong time and I cannot see us affording our own home ever again

A house in a nearby street has just been sold to a couple from NSW.  They haven't even seen it!!!   Only on the internet.  Our friends (NSW) bought a house in the south of Tassie last October.  They are still waiting for their G2G before travelling down here.  Their house in Nelson Bay sold in a couple of weeks for a very good price. 

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9 minutes ago, ramot said:

Same here on the Sunshine Coast, my neighbour is an estate agent. A few weeks ago she had 4 open houses, 3 sold on the day, and the 4th went under offer a few days later. It seems that people who can now work from home are moving to the coast for the lifestyle.

Same in Tassie.  Before Covid a lot of mainlanders were moving here including 6 of our very good NSW friends who love it here.  Another couple are moving very soon after their G2G is sorted out.  They are hoping they can isolate in their own home rather than in an hotel.

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4 hours ago, Toots said:

This must just be Perth?  Even in Tassie (at least where we live) houses are still selling quickly and certainly the prices have risen hugely in the last 10 years.

Houses are still selling well in the Perth Hills. If our early retirement plans work out we'll potentially be selling 3 properties in the next year (1 is a deceased estate) and buying in Tasmania!

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It sounds as though it is suburb specific. We lived in Perth far Northern suburbs (Joondalup) and the agent more or less stated that people aren't looking at the Metro extremities as much as they used to, I think buyer demographics have changed a lot. Your basic pom-by-the-sea type buyer is much less evident these days.

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22 hours ago, Marisawright said:

Yes it’s a Perth phenomenon. Sydney and Melbourne prices are out of this world compared to ten years ago. We got our of the market at the wrong time and I cannot see us affording our own home ever again

Perth prices were rivalling Sydney in the boom. That was never going to last. Like Tesla's share price. Reality was going to catch up sooner or later.


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Regional Queensland housing prices are currently on the rise as many from the south flood the markets. Rent are increasing sharply as well. This is all in the last couple months too. There are a number of factors at play for this; due to FIFO people moving regionally to avoid state border closures, due to people wanting out of Sydney and Melbourne to avoid the chaos of lockdowns, to have the freedom of working form home without really needing to be in an office whilst living in regional areas and all the benefits that accompany that lifestyle, etc. Rental vacancy rates in places like Mackay and Rockhampton are less than 1% and rents are rising quickly. All these factors are apparently affecting Darwin as well. People down south are looking to escape. We could be potentially seeing a change back towards regional living being a preference with more and more people permanently. 

So because of this, I'm deciding to buy now before prices increase more than they already have.

Edited by Canada2Australia

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On 07/09/2020 at 10:44, Drumbeat said:

Houses are still selling well in the Perth Hills. If our early retirement plans work out we'll potentially be selling 3 properties in the next year (1 is a deceased estate) and buying in Tasmania!

If I owned 3 properties I'd definitely be selling up and taking early retirement! 

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9 hours ago, HappyHeart said:

If I owned 3 properties I'd definitely be selling up and taking early retirement! 

I didn't say we owned them all 😀

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On 11/02/2020 at 17:01, Aussiebird said:

Hi,

I have noticed that house prices to buy are going up in south west WA, particularly between Secret Harbour to Halls Head.

Has anyone else noticed or are we just missing out on the cheaper ones?

On the radio this week they did say that after some depreciation house prices in some areas were starting to rise again.


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On 29/10/2020 at 08:48, Canada2Australia said:

Regional Queensland housing prices are currently on the rise as many from the south flood the markets. Rent are increasing sharply as well. This is all in the last couple months too. There are a number of factors at play for this; due to FIFO people moving regionally to avoid state border closures, due to people wanting out of Sydney and Melbourne to avoid the chaos of lockdowns, to have the freedom of working form home without really needing to be in an office whilst living in regional areas and all the benefits that accompany that lifestyle, etc. Rental vacancy rates in places like Mackay and Rockhampton are less than 1% and rents are rising quickly. All these factors are apparently affecting Darwin as well. People down south are looking to escape. We could be potentially seeing a change back towards regional living being a preference with more and more people permanently. 

So because of this, I'm deciding to buy now before prices increase more than they already have.

And all this while the people of NSW and Victoria have been locked down and unable to travel to Queensland to view these regional properties? So the droves of Sydney and Melbourne people buying these regional Queensland properties are doing so, sight unseen? Amazing. 

I wouldn't necessarily believe everything you read about real estate. Particularly if the source of the info is the RE industry itself. 

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Property around my part of SEQ is selling  very fast at the moment. Houses that 10 years ago were around the $375k mark and now for sale closer to $675k and selling within a few weeks too. No idea where the buyers are from but local media is saying most are interstate buyers or those looking to move from built up city areas.

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Things have really picked up in Perth lately, Specially in the coastal suburbs. There's been a few houses in our suburb up for sale one week and under offer sign on in a couple of days.

I'm sure the government grants are getting people going but usually the grant you get just gets added to the house price.

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3 hours ago, NickyNook said:

And all this while the people of NSW and Victoria have been locked down and unable to travel to Queensland to view these regional properties? So the droves of Sydney and Melbourne people buying these regional Queensland properties are doing so, sight unseen? Amazing. 

I wouldn't necessarily believe everything you read about real estate. Particularly if the source of the info is the RE industry itself. 

Yes,  most are actually buying without physically seeing the houses and units in person. Not sure why you are such a pessimistic sourpuss on this; it is happening whether you choose to believe it or not.

Edited by Canada2Australia
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