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General Discussion >> General Board >> Charts prove Oz house price downturn really is BIG http://www.ozpolitic.com/forum/YaBB.pl?num=1565586085 Message started by Laugh till you cry on Aug 12th, 2019 at 3:01pm |
Title: Charts prove Oz house price downturn really is BIG Post by Laugh till you cry on Aug 12th, 2019 at 3:01pm
Thingz is crook. Its only immigration that is producing a positive effect in the economy.
https://www.businessinsider.com.au/australia-house-price-falls-economic-impact-2019-4 Quote:
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Title: Re: Charts prove Oz house price downturn really is BIG Post by Bobby. on Aug 12th, 2019 at 3:33pm
And yet real estate agents are talking up the market. :)
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Title: Re: Charts prove Oz house price downturn really is BIG Post by Gordon on Aug 12th, 2019 at 4:14pm
Where’s the data on volume which would help compare now to previous downturns, and are we lumping in new and off the plan apartment sales (which are tanking) with houses ?
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Title: Re: Charts prove Oz house price downturn really is BIG Post by Laugh till you cry on Aug 12th, 2019 at 4:19pm Gordon wrote on Aug 12th, 2019 at 4:14pm:
I sense fear and panic. A house price downturn has a wider effect because it signals a loss of wealth to property owners. Especially those who have recently purchased a SUV. :D :D :D |
Title: Re: Charts prove Oz house price downturn really is BIG Post by Gordon on Aug 12th, 2019 at 4:23pm Laugh till you cry wrote on Aug 12th, 2019 at 4:19pm:
So you don’t have any data on volumes. |
Title: Re: Charts prove Oz house price downturn really is BIG Post by Ye Grappler on Aug 12th, 2019 at 11:33pm
People gotta run out of money sometime, banks are raising the bar on loans, and we are edging towards war with China, meaning that the Chinese government will no longer give interest free or low interest loans to its citizens to buy our country out from under us.
It's a daily event nowadays - the stock market rises on commodities/resources to China, then next day the market falls due to China stopping the flow... economic warfare at its best. Then the Chinese government manipulates the currency market by valuing and devaluing its money....* No downturn here - the people in the Big Smoke are still selling as quickly as they can and looking for the sea-change. *told yez before - I like Chinese - it's their government that sucks - ask the Honkers when the tanks roll in..... also those medium range non-nuclear missiles are just the thing to take out those artificial islands the Chinese government is building to expand its control over the Asian-Pacific Basin...... they'll be arriving here at a midnight drear - I'm beginning to warm to Hastie ...... |
Title: Re: Charts prove Oz house price downturn really is BIG Post by rhino on Aug 12th, 2019 at 11:38pm
Corrections are inevitable and a part of any financial cycle. I dont worry too much because I never sell in a correction.
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Title: Re: Charts prove Oz house price downturn really is BIG Post by Sprintcyclist on Aug 12th, 2019 at 11:59pm Gordon wrote on Aug 12th, 2019 at 4:14pm:
that is quite a good article https://www.businessinsider.com.au/australia-house-price-falls-economic-impact-2019-4 yes, volume of sales is important and is not seen. Real estate declines are not transparent. volume is a good indicator |
Title: Re: Charts prove Oz house price downturn really is BIG Post by Sprintcyclist on Aug 13th, 2019 at 12:00am rhino wrote on Aug 12th, 2019 at 11:38pm:
well, you must be worth quite a few billion then. |
Title: Re: Charts prove Oz house price downturn really is BIG Post by John Smith on Aug 13th, 2019 at 4:59pm
fell 8% .... whoopdedoo ... it's gone up an average of 100% over the last decade across the country. It's gonna take a lot more than one bad year before you twits waiting for a bubble burst can jump for joy
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Title: Re: Charts prove Oz house price downturn really is BIG Post by Setanta on Aug 13th, 2019 at 5:09pm John Smith wrote on Aug 13th, 2019 at 4:59pm:
400% around here over the last two decades. |
Title: Re: Charts prove Oz house price downturn really is BIG Post by Gordon on Aug 13th, 2019 at 5:37pm Setanta wrote on Aug 13th, 2019 at 5:09pm:
How's the market up your way doing? New apartments in Sydney are in huge oversupply and the conga line of Chinese buyers has stopped, so it's a bloodbath. Some houses in areas there are/were very in demand by Chinese buyers have taken a hit, but only by 15%, and that's the worst of it. Some areas that were a little under the radar during the boom are rising. Apart from apartments, the drops in housing prices need to be framed against very low turnover volume, so as John said, whoopdedoo. |
Title: Re: Charts prove Oz house price downturn really is BIG Post by Setanta on Aug 13th, 2019 at 8:39pm Gordon wrote on Aug 13th, 2019 at 5:37pm:
Haven't been looking at prices recently but houses aren't staying on the market long. Picked up some furniture from one around the corner a couple of weeks ago, it was on the market for four days before being sold. |
Title: Re: Charts prove Oz house price downturn really is BIG Post by Abu on Aug 13th, 2019 at 11:00pm Gordon wrote on Aug 12th, 2019 at 4:14pm:
One can still pick up a cheap ex-toilet block in Harris Park, dear. They say you can fit 4 Curries to a stall. With a few capital works - plumbing, urinals, etc - that's gold. Money for stool, innit. |
Title: Re: Charts prove Oz house price downturn really is BIG Post by Ye Grappler on Aug 13th, 2019 at 11:12pm
We gained over 15% pa on our last place - and this one keeps on rising....
Solar panels are estimated to have added $40k, and, as usual, we just keep on improving it... better everything.... just in the blood, I think. From bank estimates, it's gone up around .. well .. a heap in four months.... and growing... 8-) ... at least 10-12% in four months including the solar.... Wait until we've been here two years and the estate goes in opposite... and the bypass so the traffic goes around and not past .......and I finish my man cave and my gardens and stuff .... water tank etc for the plants ... solar hot water..... batteries for the solar power ..... that's the big one on cost effectiveness... right next to the high school ..... five minutes from shops and water at the back.... It's called work..... you gotta give some to get some .... and I've given my bit and still do.... Not bad for an old bastard who's in hospital tomorrow..... back Saturday, youse lot.... but I'm taking the laptop with me... and a book..... |
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