What will happen in next five years(1970s back)

[OllyN]

Where is Nigel Coming From?

Nigel's post is so garbled it has taken me half the afternoon to figure out what he was saying.
According to him (I think) Australia is gripped in a boom and we should be green with envy.

Well that quite doesn't square with this article:

http://news.smh.com.au/rate-rise-sees-new-home-sales-fall/20071218-1hr4.html

Nigel, when you write a post, please try very hard to write in something resembling English. That's a good chap.

[Tucker]

Brisbane and Melbourne have had 18% and 17% over the last year and Adelaide 16%. Brisbane had 4% growth in the last quarter and Melbourne 6%. Sydney is behind these suburbs with 5% but inner city suburbs are starting to move with the rest expected to follow later next year.

Some suburbs between Brisbane and the Gold Coast have had 30% growth. My brother inlaw bought eariler this year in this area for his family to live in and spent 6 - 12 months before that looking on and off, he said some of those areas he was looking in have now jumped up by 30% with anything advertised for sale under $300,000 - $350,000 having under offer/contract on them. A friend in Brisbane bought two units next to each other, one to live in and one to rent they have jumped up 20%.

[emcd]

Melbourne Auction Results Saturday 8th Dec.

Total Property: 911
Sold: 730
Withdrawn: 7
% cleared 80%
Median: $540,000


Brisbane Auction Results Saturday 15th Dec.

Total Property: 31
SOld: 19
Whithdrawn: 3
% Cleared 56%
Median: $490.250


Sydney Auction results Saturday 15th Dec.

Total Property: 308
Sold 191
Withdrawn: 37
% Cleared 55%
Median Price: $668,500

[Commercial Dan]

nonsense artcle-too biased from someone who has a vested interest

ShareChat News: Figures paint more positive picture than the hype

By NZPA
Wednesday 19th December 2007


While conceding the real estate market has “cooled”, the head of New Zealand’s largest real estate company, Harcourts, says the company’s latest statistics paint a more positive picture than the hype.
Commenting on the company’s latest figures, Harcourts chief executive Bryan Thomson says price levels in most areas are remaining stable, while the number of properties available for sale is still rising – which is good news for vendors and buyers respectively.
“The first half of the year was huge, with sales volumes and prices continuing to increase significantly. Admittedly in recent months sales volumes have cooled, however the number of sales remain at solid levels in most markets and prices are holding, so it’s a more positive picture than many are painting,” he says.
“Despite negative rhetoric from key banking figures and many industry commentators, some better informed and without the personal agendas of others, the truth of the matter is simply that the market is entering a more stable phase, after a number of years of record activity.
“In early 2008 I expect the solid sales levels continuing in the urban real estate sector with active buyers in most markets, a strong employment market and rising incomes. However, price escalations are unlikely to be at the same rates we have experienced in the recent past. Further, people who paid a premium over the past 12 – 18 months and are now looking to sell will be disappointed if they expect to make a significant capital gain or in some cases to obtain a price equal to what they paid,” Thomson says.
“As for rural real estate, dairy farms and lifestyle properties in particular have been strong performers in the past year. With the dairy sector experiencing such good times, dairy units (including conversions), support properties and run-off blocks of land have all experienced increased demand, as have cropping and arable properties – helping push the rural median sale price to record levels.”
Next year should see similar buoyancy in the rural market continuing, especially in dairying, Thomson predicts.
“With forecasts of record milk solid payouts, dairy farms are set to continue to be hot property. Dairy farmers’ good fortune may also have flow-on effects if they decide to invest in other types of property,” he says.
“In terms of other rural economic units, their demand and value is likely to follow historical trends based on the returns available, while I believe the value of most lifestyle properties is likely to increase.”
As for coastal/waterfront property, Thomson, says there is still strong demand for good quality coastal and waterfront properties.
“In some areas where there has been significant subdivision/development in recent years there is an oversupply of sections, however in general this segment of the market is looking good. With more family groups and syndicates in the coastal and waterfront market and a more liberal lending environment there is now achievable demand,” he says.
Thomson says his advice to sellers is simple. “Select the best agency available, present and promote your property well and set a price that’s in line with the market and you will succeed.”
With buyers, his advice is to feel the fear and do it anyway! “The biggest risk for buyers is that they procrastinate and miss out on a great property. Investing in ‘bricks and mortar’ for the first time or upgrading is of course a big decision, but if you’re clear about what you want and you do your homework you shouldn’t be disappointed. If you procrastinate too long you will miss out.”

I think we need some impartial comments for once, anyone got an article where the writer has nothing to gain or lose from the contemporary property market?