Aussiebird Posted February 11, 2020 Share Posted February 11, 2020 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? Quote Link to comment Share on other sites More sharing options...
DukeNinja Posted February 12, 2020 Share Posted February 12, 2020 Look up the term "dead cat bounce". Quote Link to comment Share on other sites More sharing options...
DukeNinja Posted May 29, 2020 Share Posted May 29, 2020 The COVID prick that pops the bubble. Quote Link to comment Share on other sites More sharing options...
HappyHeart Posted September 6, 2020 Share Posted September 6, 2020 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.... Quote Link to comment Share on other sites More sharing options...
newjez Posted September 6, 2020 Share Posted September 6, 2020 (edited) 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 September 6, 2020 by newjez 2 Quote Link to comment Share on other sites More sharing options...
newjez Posted September 6, 2020 Share Posted September 6, 2020 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. Quote Link to comment Share on other sites More sharing options...
HappyHeart Posted September 6, 2020 Share Posted September 6, 2020 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.... Quote Link to comment Share on other sites More sharing options...
newjez Posted September 6, 2020 Share Posted September 6, 2020 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. Quote Link to comment Share on other sites More sharing options...
s713 Posted September 6, 2020 Share Posted September 6, 2020 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. Quote Link to comment Share on other sites More sharing options...
Toots Posted September 6, 2020 Share Posted September 6, 2020 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. 1 Quote Link to comment Share on other sites More sharing options...
Marisawright Posted September 6, 2020 Share Posted September 6, 2020 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 Quote Link to comment Share on other sites More sharing options...
ramot Posted September 6, 2020 Share Posted September 6, 2020 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. Quote Link to comment Share on other sites More sharing options...
Toots Posted September 6, 2020 Share Posted September 6, 2020 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. Quote Link to comment Share on other sites More sharing options...
Toots Posted September 6, 2020 Share Posted September 6, 2020 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. Quote Link to comment Share on other sites More sharing options...
Drumbeat Posted September 7, 2020 Share Posted September 7, 2020 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! 1 Quote Link to comment Share on other sites More sharing options...
s713 Posted September 7, 2020 Share Posted September 7, 2020 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. Quote Link to comment Share on other sites More sharing options...
newjez Posted September 7, 2020 Share Posted September 7, 2020 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. Quote Link to comment Share on other sites More sharing options...
Canada2Australia Posted October 28, 2020 Share Posted October 28, 2020 (edited) 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 October 28, 2020 by Canada2Australia Quote Link to comment Share on other sites More sharing options...
HappyHeart Posted October 29, 2020 Share Posted October 29, 2020 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! 1 Quote Link to comment Share on other sites More sharing options...
Drumbeat Posted October 29, 2020 Share Posted October 29, 2020 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 1 Quote Link to comment Share on other sites More sharing options...
ali Posted October 29, 2020 Share Posted October 29, 2020 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. Quote Link to comment Share on other sites More sharing options...
NickyNook Posted October 30, 2020 Share Posted October 30, 2020 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. 3 Quote Link to comment Share on other sites More sharing options...
calNgary Posted October 30, 2020 Share Posted October 30, 2020 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. Cal x Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted October 30, 2020 Share Posted October 30, 2020 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. Quote Link to comment Share on other sites More sharing options...
Canada2Australia Posted October 30, 2020 Share Posted October 30, 2020 (edited) 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 October 30, 2020 by Canada2Australia 1 Quote Link to comment Share on other sites More sharing options...
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