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PROPERTY
rlane
post Posted: Jul 21 2020, 04:26 PM
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In Reply To: rlane's post @ Jul 20 2020, 07:34 PM

Looks like car sales are doing fine as well
Talking to a chap today who works at car yard in Maroochydore. They had 700 sales last month
People tapping into their super, spending the Gov. handout. Sold a Porsche sight unseen to a Vic buyer.
He said that the cities are going gangbusters, people thinking twice about using Public Tpt.

 
early birds
post Posted: Jul 20 2020, 08:13 PM
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https://www.afr.com/property/residential/re...20200720-p55dl2

During the past three months, rents in Sydney's inner suburb Haymarket fell 7.2 per cent, the largest decline across Australia. This translated to a loss of around $54 each week or $2800 over the year for landlords.

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if goes down with same rate for another three months , then there is a alarm to be heard . other wise everything will be fine as usual i guess!!



 
rlane
post Posted: Jul 20 2020, 07:34 PM
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In Reply To: nipper's post @ Jul 19 2020, 02:00 PM

Hi Nipper
Bit different on the Sunshine Coast
Have had a chat to a couple of people and they seem to back up what he is saying.

https://www.propertyobserver.com.au/terry-r...erry-ryder.html

And this

https://www.propertyobserver.com.au/terry-r...erry-ryder.html

Thanks
Roger


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nipper
post Posted: Jul 19 2020, 02:00 PM
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According to City Residential Real Estate, there are nearly 27,000 apartments for rent in Melbourne’s Docklands (8,400), Southbank (8,300) and inner Melbourne (10,500), an increase of about 500 in the past week.

Danielle Chetcuti, City Residential’s senior property manager, says the vacancy surge is caused by job losses, reduced hours of paid employment, lack of new tenants coming into the market and existing tenants stuck overseas because of travel bans. Chetcuti says she is negotiating with landlords every week to reduce the rent of tenants no longer able to afford the original costs, which has the unintended consequence of encouraging other tenants to demand their landlords match the cut.

One landlord, whose two bedroom, one bathroom Docklands property has been on the market for about eight weeks, cut the weekly asking rent from about $540 to $200 for the next three months in a bid to attract a new tenant.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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nipper
post Posted: Jul 19 2020, 01:51 PM
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Never underestimate the ability to adapt to new circumstances

While taking a hit as utilisations dropped and travel restrictions bite, being closer to the market and able to discern changes, AirBnB has repositioned itself.... No longer belong anywhere the messaging is now get away, without going far,.

And an emphasis on things that one might perceive could be colouring a decision to stay in a home or unit rather than a hotel
1. Cleanliness.... emphasising their new rigorous cleaning standards. Hosts are getting clever, too, advertising their sanitation routines and offering hand sanitiser to guests.
2. Less social interaction. Distancing is inherent, and easier to avoid crowded indoor spaces, plus self catering options.
3. Driving distance considerations; beachside destinations, mountain towns and lakeside getaways are doing well but inner city units for either tourism or short term business less so.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Jul 19 2020, 01:51 PM
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Posts: 7,496
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Never underestimate the ability to adapt to new circumstances

While taking a hit as utilisations drop and travel restrictions bite, AirBnB has repositioned itself.... No longer belong anywhere the messaging is now get away, without going far,. And an emphasis on things that one might perceive could be colouring a decision to stay in a home or unit rather than a hotel

1. Cleanliness.... emphasising their new rigorous cleaning standards. Hosts are getting clever, too, advertising their sanitation routines and offering hand sanitiser to guests.
2. Less social interaction. Distancing in inherent, and easier to avoid crowded indoor spaces, plus self catering options.
3. Driving distance considerations; beachside destinations, mountain towns and lakeside getaways are doing well but inner city units for either tourism or short term business less so.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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nipper
post Posted: Jul 9 2020, 08:41 PM
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QUOTE
There is a terrible collision between several economic realities about to occur and it is going to leave hundreds of people seriously out of pocket and the housing market with a glut of cut price apartments.

Roughly 10 per cent of off-the-plan purchasers have defaulted on their contracts in the past three months, and more are likely to do so in the next few months. It’s all down to a combination of factors.

There are the completed properties not being worth what was paid for them due to falling prices. That leads to negative equity ; owing more on the property than they are worth.

Most lending institutions are only prepared to offer loans on final valuation rather than the initial purchase price agreed before building started.

Then there are large numbers of purchasers losing their jobs or not being sure they will keep them. And the option for purchasers of walking away from their 10 per cent deposit is not as simple as it seem.
.
-sadly, it is not tempting to rush in and score a bargain!




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
henrietta
post Posted: Jun 18 2020, 10:03 AM
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In Reply To: nipper's post @ Jun 18 2020, 09:26 AM

QUOTE
privatise profits and socialise losses


Ask the US banks how to do it if you're not sure.

Cheers
J



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"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
nipper
post Posted: Jun 18 2020, 09:26 AM
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QUOTE
“It is really, really hard,” says private Melbourne developer and Rich Lister Tim Gurner. “The jobs are in the big [apartment] towers, and work books have shrunk.”

“The government has to get very serious,” he says recommending the removal of impediments to off-the-plan sales, such as punitive taxes for foreign buyers, and the reintroduction of stamp duty incentives for off-the-plan buyers.
Perfect storm.

And what do we want? Why, privatise profits and socialise losses is the chorus.


Covid is merely the last of many issues hitting construction and sales.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: rlane  
 
early birds
post Posted: Jun 4 2020, 09:16 AM
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https://www.afr.com/property/residential/wh...20200603-p54z1f

The housing industry will be grateful for the Morrison government’s $688 million HomeBuilder package, quietly disappointed at its size and restrictions, and a little bemused by the new emphasis on renovations.

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sound like Labor's "insulation crap" that over 10 years ago.....

Mick and others what do you guys think of this thing?? unsure.gif



 
 


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