Author Topic: Property in Australia  (Read 71123 times)

alsoknownasDean

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Re: Property in Australia
« Reply #400 on: March 05, 2019, 03:08:27 AM »
Prices here in Melbourne and in Sydney are down around 10% year on year. I guess the question is 'how much lower it will go'.

I've heard people say it's about to start/started increasing, and reports saying that the prices look to continue to fall.

I wonder how many of the more bullish publications rely on RE advertising heavily for revenue or have substantial investments themselves?

I'll start looking again in a couple of months. Should be fine but just need to wait for the right place to pop up.

I will say though, in plenty of the 'sold' sections of the RE sites, the prices are shown as 'contact agent'. Presumably the agents don't want to reveal the pricing because it's below what they expected originally.
« Last Edit: March 05, 2019, 03:13:48 AM by alsoknownasDean »

Little Aussie Battler

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Re: Property in Australia
« Reply #401 on: March 05, 2019, 03:49:26 AM »
We also have to keep in mind that RE agents don't really care about the price. They just want high churn, so will tell buyers and sellers whatever they think helps them achieve that.

bigchrisb

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Re: Property in Australia
« Reply #402 on: March 05, 2019, 05:15:45 AM »
I'm watching the market with a passing interest - would consider upgrading PPOR if the right place came along at the right price.  In the areas I'm looking (Canberra), things are getting less competitive, but prices themselves are only slightly moderating so far.   I also suspect that the next recession will be ugly for housing.  As to when that will be, no idea.

Alchemisst

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Re: Property in Australia
« Reply #403 on: March 06, 2019, 11:42:33 PM »
Since Australian property is quite expensive I have been trying to figure out whether it is worth buying or continue renting and put the deposit/ rent saved into index funds. Seems much easier to buy in places like the U.S where you can buy for cheaper than renting and even make money renting out the spare room etc..

mrcheese

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Re: Property in Australia
« Reply #404 on: April 12, 2019, 10:48:21 PM »
The house next door to me is up for sale for 70k less than it was purchased for 5 years ago. Seeing as it is basically identical to mine, I'm feeling a little bit depressed...

Fresh Bread

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Re: Property in Australia
« Reply #405 on: April 13, 2019, 01:14:28 AM »
The house next door to me is up for sale for 70k less than it was purchased for 5 years ago. Seeing as it is basically identical to mine, I'm feeling a little bit depressed...

That sounds like a massive drop. What location are you MrCheese?

itchyfeet

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Re: Property in Australia
« Reply #406 on: April 13, 2019, 01:15:02 AM »
The house next door to me is up for sale for 70k less than it was purchased for 5 years ago. Seeing as it is basically identical to mine, I'm feeling a little bit depressed...

Which city?

mrcheese

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Re: Property in Australia
« Reply #407 on: April 15, 2019, 05:48:47 AM »
This is in Perth. I'm guessing they want a quick sale.