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House price collapse already started !! (Read 19383 times)
Sir Spot of Borg
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Re: House price collapse already started !!
Reply #60 - Jun 25th, 2018 at 9:06am
 
Needs to go down more than 10% IMO

Spot
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red baron
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Re: House price collapse already started !!
Reply #61 - Jun 25th, 2018 at 9:17am
 
When I predicted this some time  I got a few slapdowns...Nice to be vindicated
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Gordon
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Re: House price collapse already started !!
Reply #62 - Jun 25th, 2018 at 9:40am
 
red baron wrote on Jun 25th, 2018 at 9:17am:
When I predicted this some time  I got a few slapdowns...Nice to be vindicated


The % of price drops are reported as one figure and very misleading.  The biggest falls are being experienced by new apartment blocks where there is oversupply or outter ring properties.

Good quality property in inner ring suburbs have hardly budged.  Some price points have dropped a bit while some are still going way above reserve.


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Bobby.
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Re: House price collapse already started !!
Reply #63 - Jun 30th, 2018 at 3:09pm
 

http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).
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Gordon
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Re: House price collapse already started !!
Reply #64 - Jun 30th, 2018 at 3:10pm
 
Bobby. wrote on Jun 30th, 2018 at 3:09pm:
http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


Who'd want to live in MelBoring anyway Wink
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Bobby.
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Re: House price collapse already started !!
Reply #65 - Jun 30th, 2018 at 3:13pm
 
Gordon wrote on Jun 30th, 2018 at 3:10pm:
Bobby. wrote on Jun 30th, 2018 at 3:09pm:
http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


Who'd want to live in MelBoring anyway Wink



I don't live there anymore -
too much traffic -
all the roads are car parks in the morning and evening rush hours.
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Gordon
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Re: House price collapse already started !!
Reply #66 - Jun 30th, 2018 at 3:27pm
 
Bobby. wrote on Jun 30th, 2018 at 3:13pm:
Gordon wrote on Jun 30th, 2018 at 3:10pm:
Bobby. wrote on Jun 30th, 2018 at 3:09pm:
http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


Who'd want to live in MelBoring anyway Wink



I don't live there anymore -
too much traffic -
all the roads are car parks in the morning and evening rush hours.


I have no idea how anyone could live in Melbourne. Too cold, no surf and flat. I hate flat cities!!
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Mattyfisk
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Re: House price collapse already started !!
Reply #67 - Jun 30th, 2018 at 3:27pm
 
Gordon wrote on Jun 20th, 2018 at 7:29pm:
Sir lastnail wrote on Jun 20th, 2018 at 7:27pm:
Gordon wrote on Jun 20th, 2018 at 7:25pm:
Prices have dropped a smidge in Sydney and guess what the result is.
Buyer support is coming back.

Also in Sydney, units in areas of over supply are getting hammered, but good houses in good areas haven't moved much.

There will be no bust.


That's exactly what they said in Ireland and "the doomsayers should go and hang themselves" said one politician Cheesy LOL


LOL, we're not Ireland.

Support for quality properties in the Sydney market has already returned.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.
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Gordon
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Re: House price collapse already started !!
Reply #68 - Jun 30th, 2018 at 3:29pm
 
Mattyfisk wrote on Jun 30th, 2018 at 3:27pm:
Gordon wrote on Jun 20th, 2018 at 7:29pm:
Sir lastnail wrote on Jun 20th, 2018 at 7:27pm:
Gordon wrote on Jun 20th, 2018 at 7:25pm:
Prices have dropped a smidge in Sydney and guess what the result is.
Buyer support is coming back.

Also in Sydney, units in areas of over supply are getting hammered, but good houses in good areas haven't moved much.

There will be no bust.


That's exactly what they said in Ireland and "the doomsayers should go and hang themselves" said one politician Cheesy LOL


LOL, we're not Ireland.

Support for quality properties in the Sydney market has already returned.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.


I blew here.
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IBI
 
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Mattyfisk
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Re: House price collapse already started !!
Reply #69 - Jun 30th, 2018 at 3:30pm
 
Gordon wrote on Jun 30th, 2018 at 3:29pm:
Mattyfisk wrote on Jun 30th, 2018 at 3:27pm:
Gordon wrote on Jun 20th, 2018 at 7:29pm:
Sir lastnail wrote on Jun 20th, 2018 at 7:27pm:
Gordon wrote on Jun 20th, 2018 at 7:25pm:
Prices have dropped a smidge in Sydney and guess what the result is.
Buyer support is coming back.

Also in Sydney, units in areas of over supply are getting hammered, but good houses in good areas haven't moved much.

There will be no bust.


That's exactly what they said in Ireland and "the doomsayers should go and hang themselves" said one politician Cheesy LOL


LOL, we're not Ireland.

Support for quality properties in the Sydney market has already returned.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.


I blew here.


Goddamned right.
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Gordon
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Re: House price collapse already started !!
Reply #70 - Jun 30th, 2018 at 3:35pm
 
Mattyfisk wrote on Jun 30th, 2018 at 3:30pm:
Gordon wrote on Jun 30th, 2018 at 3:29pm:
Mattyfisk wrote on Jun 30th, 2018 at 3:27pm:
Gordon wrote on Jun 20th, 2018 at 7:29pm:
Sir lastnail wrote on Jun 20th, 2018 at 7:27pm:
Gordon wrote on Jun 20th, 2018 at 7:25pm:
Prices have dropped a smidge in Sydney and guess what the result is.
Buyer support is coming back.

Also in Sydney, units in areas of over supply are getting hammered, but good houses in good areas haven't moved much.

There will be no bust.


That's exactly what they said in Ireland and "the doomsayers should go and hang themselves" said one politician Cheesy LOL


LOL, we're not Ireland.

Support for quality properties in the Sydney market has already returned.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.


I blew here.


Goddamned right.


I think it's a disgrace that the RSL has allowed a decorated Vet as yourself to live in such squalid conditions.

https://www.domain.com.au/news/derelict-home-in-granville-for-sale-with-rubbish-...
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IBI
 
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Mattyfisk
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Re: House price collapse already started !!
Reply #71 - Jun 30th, 2018 at 4:11pm
 
Gordon wrote on Jun 30th, 2018 at 3:35pm:
Mattyfisk wrote on Jun 30th, 2018 at 3:30pm:
Gordon wrote on Jun 30th, 2018 at 3:29pm:
Mattyfisk wrote on Jun 30th, 2018 at 3:27pm:
Gordon wrote on Jun 20th, 2018 at 7:29pm:
Sir lastnail wrote on Jun 20th, 2018 at 7:27pm:
Gordon wrote on Jun 20th, 2018 at 7:25pm:
Prices have dropped a smidge in Sydney and guess what the result is.
Buyer support is coming back.

Also in Sydney, units in areas of over supply are getting hammered, but good houses in good areas haven't moved much.

There will be no bust.


That's exactly what they said in Ireland and "the doomsayers should go and hang themselves" said one politician Cheesy LOL


LOL, we're not Ireland.

Support for quality properties in the Sydney market has already returned.


You hang onto that Harris Park toilet block of yours, Gordon.

We grew here.


I blew here.


Goddamned right.


I think it's a disgrace that the RSL has allowed a decorated Vet as yourself to live in such squalid conditions.

https://www.domain.com.au/news/derelict-home-in-granville-for-sale-with-rubbish-...


Fck the RSL. Looking for more quality properties are you, son?
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Bobby.
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Re: House price collapse already started !!
Reply #72 - Jun 30th, 2018 at 4:11pm
 
Gordon wrote on Jun 30th, 2018 at 3:27pm:
Bobby. wrote on Jun 30th, 2018 at 3:13pm:
Gordon wrote on Jun 30th, 2018 at 3:10pm:
Bobby. wrote on Jun 30th, 2018 at 3:09pm:
http://www.abc.net.au/news/2018-06-30/melbourne-falling-unit-prices/9918452


The median price for a unit in Elwood dropped by 16.9 per cent in the March quarter, according to the Real Estate Institute of Victoria (REIV).

In nearby Prahran and Port Melbourne, falls of more than 18 per cent were recorded, and unit prices also dropped in St Kilda East (-15.5 per cent), Carnegie (-12.3 per cent), Southbank (-9.3 per cent) and South Yarra (-7.9 per cent).


Who'd want to live in MelBoring anyway Wink



I don't live there anymore -
too much traffic -
all the roads are car parks in the morning and evening rush hours.


I have no idea how anyone could live in Melbourne. Too cold, no surf and flat. I hate flat cities!!



What about Surrey Hills, Endeavour hills, Wheelers Hill, & Mount Waverly?
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Frank
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Re: House price collapse already started !!
Reply #73 - Jun 30th, 2018 at 6:16pm
 
Bobby. wrote on Jun 20th, 2018 at 7:02pm:
More from the ABC

http://www.abc.net.au/news/2018-06-19/fears-as-interest-only-loans-roll-into-pri...


Fears of housing 'fire sale' as interest-only loans roll into principal plus interest.

7.30
By Liz Hobday

Updated about 7 hours ago


As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans.

But the interest-only period on these loans doesn't last forever.

Over the next three years, interest-only loans worth a combined total of about $360 billion will roll over to interest plus principal — and that means borrowers will face higher repayments.

"The kind of nightmare scenario is where a lot of people need to sell at once, and that's when you see a kind of fire sale mentality, and could see very significant downward pressure on prices," said Professor Richard Holden from the University of New South Wales Business School.

"That puts the banks under stress, and their balance sheets under stress, and it could lead to significant financial instability."



The 250,000 + immigrants a year will snap 'em up.
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Secret Wars
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Re: House price collapse already started !!
Reply #74 - Jun 30th, 2018 at 6:33pm
 
Frank wrote on Jun 30th, 2018 at 6:16pm:
Bobby. wrote on Jun 20th, 2018 at 7:02pm:
More from the ABC

http://www.abc.net.au/news/2018-06-19/fears-as-interest-only-loans-roll-into-pri...


Fears of housing 'fire sale' as interest-only loans roll into principal plus interest.

7.30
By Liz Hobday

Updated about 7 hours ago


As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans.

But the interest-only period on these loans doesn't last forever.

Over the next three years, interest-only loans worth a combined total of about $360 billion will roll over to interest plus principal — and that means borrowers will face higher repayments.

"The kind of nightmare scenario is where a lot of people need to sell at once, and that's when you see a kind of fire sale mentality, and could see very significant downward pressure on prices," said Professor Richard Holden from the University of New South Wales Business School.

"That puts the banks under stress, and their balance sheets under stress, and it could lead to significant financial instability."



The 250,000 + immigrants a year will snap 'em up.


Yes, there is still demand, and for owner occupiers they would rather sit around a candle eating dog food before they will sell at a loss.

The apartment market is another thing especially for off the plan where investors tend to cut losses early.
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