noticed stock in ormiston has been selling cheaper then 4 months ago. seems i bought at the peak!!
Morayfield seems to have levelled but havent noticed a drop in prices yet just a plateau.
Strong Growth in Brisbane
- Thread starter Andrew_A
- Start date
noticed stock in ormiston has been selling cheaper then 4 months ago. seems i bought at the peak!!
Morayfield seems to have levelled but havent noticed a drop in prices yet just a plateau.
Have just been associated with 2 sales in Norman Park (Relatives). 1 sale early 5's another sale early 7's. 700 house sold within 21 days. 500's house sold in about 45 days. Both went for more than their owners had originally expected but neither followed the market very much. 2 years ago 700 house would have been high 500's.
Stuff in that area is not selling in days like when the market was really hot. But Brisbane has typically had 60 days on market during normal times. I don't think people who are willing to accept reasonable prices that are still up on last year are having trouble selling in a normal time frame. It is the people who think their house went up $100k in 07 so should be another $100k in 08 who have the issue.
Stuff in that area is not selling in days like when the market was really hot. But Brisbane has typically had 60 days on market during normal times. I don't think people who are willing to accept reasonable prices that are still up on last year are having trouble selling in a normal time frame. It is the people who think their house went up $100k in 07 so should be another $100k in 08 who have the issue.
Posted 20th Sep 07 ....
It's nearly mid-2008. Another 2 months and it will be mid July 2008. Need a $100K median price drop in 2 months ....
Let's keep this thread alive ... there is still a chance.
Lots more for sale around my area ... loads of open houses every weekend. Not sure when it will feed into prices.
It's nearly mid-2008. Another 2 months and it will be mid July 2008. Need a $100K median price drop in 2 months ....
Let's keep this thread alive ... there is still a chance.
Lots more for sale around my area ... loads of open houses every weekend. Not sure when it will feed into prices.
Posted 20th Sep 07 ....
It's nearly mid-2008. Another 2 months and it will be mid July 2008. Need a $100K median price drop in 2 months ....
Let's keep this thread alive ... there is still a chance.
Lots more for sale around my area ... loads of open houses every weekend. Not sure when it will feed into prices.
do you know what the wage stats are in brissy? And what wages are meant to be growing at? I heard somewhere that wages nationally have been growing like 6.5%..
Prices in Chermside, Aspley and Carseldine (Nth Brisbane 10-14 kms from CBD) don't seemed to have dropped at all. A moderate house around the corner recently sold for 467K which was way over what I thought it would get.
It's nearly mid-2008. Another 2 months and it will be mid July 2008. Need a $100K median price drop in 2 months ....
Let's keep this thread alive ... there is still a chance.
Lots more for sale around my area ... loads of open houses every weekend. Not sure when it will feed into prices.
if you're looking for fun and self justification YM, bring yourself and opinions to the next Somersoft gathering in Brissy.
Growth in Taringa & Indooroopilly
I have just started looking in these suburbs, what is the situation there? Have prices stabilised or dropped?
Kind regards,
PM
I have just started looking in these suburbs, what is the situation there? Have prices stabilised or dropped?
Kind regards,
PM
prices haven't dropped as such...it certainly has quietened down though.
numbers at open homes have plummeted - though this can also be a good thing as it tends to indicate that the folks still coming through are fair dinkum buyers and not the tyre kickers we used to get flooded with.
we have still offloaded plenty in the last eight weeks or so and still got good prices for them. Not stunning necessarily for some, but certainly not poor results by any stretch of the imagination.
For my part - i think it will be another few months yet before there can be any real discernible proof that things are backsliding.
cheers
numbers at open homes have plummeted - though this can also be a good thing as it tends to indicate that the folks still coming through are fair dinkum buyers and not the tyre kickers we used to get flooded with.
we have still offloaded plenty in the last eight weeks or so and still got good prices for them. Not stunning necessarily for some, but certainly not poor results by any stretch of the imagination.
For my part - i think it will be another few months yet before there can be any real discernible proof that things are backsliding.
cheers
Hello UC
Were the last couple of months better for your industry?
Just nosey about the industry.
Aaron
The start of the year was certainly a good one, yes, as was most of last year - now i think it's just gone back to where real estate should be. It is not super hot any more and we have to work hard for what we get - which is the way it always should be.
you will start to see some of the cowboys in the industry move on as they find they can't make a quick buck as easily any more.
good riddance to the morons!!
you will start to see some of the cowboys in the industry move on as they find they can't make a quick buck as easily any more.
good riddance to the morons!!
The start of the year was certainly a good one, yes, as was most of last year - now i think it's just gone back to where real estate should be. It is not super hot any more and we have to work hard for what we get - which is the way it always should be.
you will start to see some of the cowboys in the industry move on as they find they can't make a quick buck as easily any more.
good riddance to the morons!!
Touche.....and ditto
Good style property, well maintained in good location have probably maintained value however I think there is evidence some property prices have fallen, even if only marginally. Some buyers may still be paying over the top but the majority are not panic buying and lower offers are being provided. As current information comes through in the next quarter we will undoubtedly begin to receive accurate data.
One report this week stated property days on market had blown out to 100 days within Brisbane regions. I'm expecting a strengthening in our market to a steady marketplace over the next quarter on the basis of no more rate rises. I am not expecting any more boom periods but then again I didn't expect the 2007 increases we saw either.
Our Chermside and Nundah offices were the highest performers for the group last month so that may indicate strength in the Northside of Brisbane. Springwood clearly leads the group this financial year. Our Gunghalin office in Canberra is a high performer and the new Woden office in ACT has been very strong in its first 6 weeks since opening. I was in Cairns 2 weeks ago for the opening of our new office there and there was a lot of signs with only a few indicating they were under contract.
SEQ will remain steady to strong on the back of migration, employment and growth. Housing affordability should be a concern for us all although people's expectations of having all the "toys" life offers at a younger age may change.
There is evidence of pressure on property prices however I don't expect the effects seen in southern states or anything like the devastation occurring in NZ.
Kev
www.gogecko.com.au
June update
I'm noting property stay on the market in my PPOR area for much longer if the seller isn't flexible in price, no clear evidence of large scale softening however as a lot of the stock appears to be lower quality.
Appears as if we have a interesting situation to resolve in Brisbane with the supply issues and interest rates working in opposite directions.
I'm noting property stay on the market in my PPOR area for much longer if the seller isn't flexible in price, no clear evidence of large scale softening however as a lot of the stock appears to be lower quality.
Appears as if we have a interesting situation to resolve in Brisbane with the supply issues and interest rates working in opposite directions.
Sales have dropped dead on the Gold Coast as vendors still cling to last years price expectations. The only places that are selling are when vendors are realistic and drop their prices. Fab 2 1/2 yo 2 storey 4 br townhouse sold here for $549,000 I reckon $200,000 less than last years price
