How to settle happily in OZ

[Peiweh]

theres some very negative 2012-2013 prop market news coming out of australia these days

 

[The_Hypocrite]

theres some very negative 2012-2013 prop market news coming out of australia these days

there have been negative reports about the property market since 2008...and in general, house price only drop abit, about 5%, than go up,,,so its no big deal,,,,not like the USA where some areas are 50%,,,

 

[Ash007]

They will settle, they need your money in the buyer's market.

It was a scary thing to keep paying the bank while my last property remain unsold.

Yah, from what I hear its the vendor's banks fault for delaying.

there have been negative reports about the property market since 2008...and in general, house price only drop abit, about 5%, than go up,,,so its no big deal,,,,not like the USA where some areas are 50%,,,

Not only since 2008 but as early as 2001 after the Olympics as well ! That is like 12 years ago!

 

[Aussie Prick]

the market is about where we expected it - down due to record numbers of properties for sale. Sellers don't aggressively lower prices in a down market - they hold out for higher prices and banks don't foreclose like they do in the USA. This keeps prices from moving more than 5% a year plus interest rates are supporting the broader market. This is why property wont crash, but whether the slight 5% declines continue depend on several factors.

A fresh wave of China m2 stimulus has yet to impact the Oz economy, and this plus any further interest rate decreases by the RBA will steer the market in 2013.

We see the spruikers are out talking up the market, which reinforces our expectation 2013 will repeat 2012, unless the RBA intervenes.

 

[neddy]

the market is about where we expected it - down due to record numbers of properties for sale. Sellers don't aggressively lower prices in a down market - they hold out for higher prices and banks don't foreclose like they do in the USA.

Let's not forget that the OZ property market is a rather small one. The home ownership is still very high, and the proportion of mortgages are relatively low so what we see are small group of sellers & buyers and prices are determined by this small group of players.

Besides, there is no problem with the number of "ninja" low doc home loans.

 

[axe168]

Ha ! What a nice surprise ! Ya still around !

Hey, I purchased my 2nd home in 2009 for $960/m2... Now, it is sitting nicely @$1,800/m2 avg hse in my suburb (about 35 transactions for 6 mths). Before crisis was $1400. I did not talk up leh.. It is the fact

20yrs ago, there was lack of supply in Eastern Suburbs... 20yrs from now, it is still the same. Why? Bcoz of good infrastructure & school, dude !

All i need now is to sit back and relax.... Waiting for anther 1-2 boom, before i retire...
Come & join me...

the market is about where we expected it - down due to record numbers of properties for sale. Sellers don't aggressively lower prices in a down market - they hold out for higher prices and banks don't foreclose like they do in the USA. This keeps prices from moving more than 5% a year plus interest rates are supporting the broader market. This is why property wont crash, but whether the slight 5% declines continue depend on several factors.

A fresh wave of China m2 stimulus has yet to impact the Oz economy, and this plus any further interest rate decreases by the RBA will steer the market in 2013.

We see the spruikers are out talking up the market, which reinforces our expectation 2013 will repeat 2012, unless the RBA intervenes.