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Australian Housing Crash, Has the bubble burst?
plastic
post Posted: Nov 17 2020, 07:31 PM
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Don't know about Au. but years ago OECD put out a report saying NZ was cutting its nose off to spite itself by being a low tax nation. They then held up the teal estate industry as the lowest taxed sector relative to value in the world.

No prizes for guessing their recommendations were to increase taxes.

When that happens, watch out for the banks. Its just like the Japanese bubble economy of the eighties.



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What did Uncle Mel do to us?
 
mullokintyre
post Posted: Nov 17 2020, 04:27 PM
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In Reply To: early birds's post @ Nov 17 2020, 04:22 PM

Land tax is a politicians dream. Instead of only getting stamp duty on a sale, the gov gets something every year.
And they can index it!
So then it does not matter if there is a housing boom or ust, they can budget on a fixed amount every year.
Don't know why they have not done this already!
Mick



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early birds
post Posted: Nov 17 2020, 04:22 PM
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https://www.afr.com/property/residential/st...20201117-p56fb2

NSW's plan to replace stamp duty with land tax could depress housing-market activity in the run-up to implementation of a new regime as people planning to buy could hold off doing so until given the chance to avoid the up-front stamp duty hit, said economist Shane Oliver.

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if they really think of housing price is too high, why the hell they keeps cut the rate?? seems GFC isn't enough lesson to be learned??

again, little joe like me have no voice, only try to avoid screw as much as i can!! sadsmiley02.gif



 
early birds
post Posted: Jul 9 2020, 01:08 PM
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https://www.msn.com/en-au/money/realestate/...ars/ar-BB16vrEo

The latest data from Domain shows apartment rents dropped 3.2% over the June quarter, their largest fall in 15 years.
Melbourne, Sydney and Hobart led the plunge as shut borders hurt their tourism and international student markets and increased the number of long-term rentals.
House tenants in Melbourne and Hobart also saw substantial falls alongside those in Canberra, Brisbane, and Perth.

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banks give another 4 months "mortgage holidays" that might soften the blow??? unsure.gif
but will add up to future pay up!!






























 
mullokintyre
post Posted: Jul 8 2020, 12:16 PM
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In Reply To: nipper's post @ Jul 8 2020, 11:20 AM

Yep, the inner city will become like ghettos. Only those who can least afford anything better will live there.
Glad i live in the country.



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nipper
post Posted: Jul 8 2020, 11:20 AM
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In Reply To: early birds's post @ Jul 8 2020, 10:46 AM

Interesting times!! excl.gif
There seems to be several resets happening now. Especially for families, Covid has shown up the attraction of having your own property, and a back yard. The existence of a bit of extra space or, better, a spare room to enable working from home has come into its own. Some are liking the digital commute and thinking of regional cities. Apartments do not offer that, as we would expect.

Against this is the needs of the cities, that urbanisation cannot continue sprawling out. There is still a need for some form of what is termed densification with infilling and / or more apartments. Perhaps this will continue, with smaller structures being built. Can you imagine being in a structure without windows that open for a prolonged period of time (the 14 day quarantined emerge stir crazy). And another need has been for amenity, parks and playgrounds, space to move. Good planning (not an Australian forte) !!


Among the younger generation, my son reports his friends and peer group are taking advantage now the AirBnB offerings are empty, to move out of the grungy inner city terraces. Rents are down and the market dynamics have tilted towards those renters that are cashed up (a minority but sizeable); the move is to the beach side (Sydney) and bayside (Melb) locations that offer more. Because they can now afford these locations. Enough of rising damp and large nutter populations.



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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

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early birds
post Posted: Jul 8 2020, 10:46 AM
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https://www.msn.com/en-au/money/personalfin...mic/ar-BB16qmVp

BUYING AN APARTMENT
Koch said renters should be saving money on their rent, while prospective buyers looking for an apartment should hold off at least a year.

'Apartment property market, particularly in inner-city Sydney and Melbourne, is just awash with stock at the moment,' he said.

Referring to data from CoreLogic, Koch explained that 52 per cent of off-plan apartments in Sydney are settling with a valuation less than when they were bought.

'That's a really worrying trend in terms of the apartment market,' he said.

Koch said rent is coming down 'quite substantially' in inner-city Sydney and Melbourne.

'So if you're a renter, negotiate your rent down when it comes up and you'll get big discounts,' he said.

'If you're a buyer of residential apartments, maybe wait for 12 to 18 months because valuations are really starting to trend down now.'

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do your own research as always!!



 
early birds
post Posted: Jun 24 2020, 07:14 PM
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https://www.afr.com/property/residential/ap...20200622-p554xq

Apartment for sale listings are surging across capital cities, led by Sydney with a 39 per cent jump in new stock during the past four weeks, in a sign investors may be offloading properties in a weakening rental market.

Domain data shows that between the four weeks to May 17 and the four weeks to June 14, apartment listings rose by 27 per cent in Melbourne and were up by 15 per cent in Brisbane and 37 per cent in Perth.


Apartment for sale listings are surging as owners bail out. Graham Denholm

New apartment listings jumped by 43 per cent in Adelaide and were up by 4 per cent in Canberra.

Compared with a year ago, apartment listings in Sydney were up 8 percentage points, while Melbourne was higher by 2 percentage points.

Domain's senior research analyst, Nicola Powell, said the trend could be a sign investors are moving on.

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look out....... ohmy.gif


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early birds
post Posted: Mar 27 2020, 10:48 AM
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come back to this issue, not really good for the residential property markets



https://www.afr.com/property/commercial/lan...20200327-p54efk

bleak out look for the sector.......

 
henrietta
post Posted: Oct 18 2019, 10:44 AM
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In Reply To: nipper's post @ Jun 7 2019, 04:23 PM

We recently spent some time in Canberra visiting friends. To say that I was gobsmacked by the facilities offered would be an understatement.
Canberra has every possible known amenity, plus many not even thought of in "average" communities.
Having also spent many weeks traversing the country, including much of the outback, I can sympathise with country folk who claim they don't much of a deal.

Canberrans are very, very spoilt. Their only problem is the crappy weather !!

Cheers
J



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