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Yes it has. Would be interested in some sales feedback from anyone who has it from the last few months.So has Brisbane and surrounds gone off the boil at present?
Yes it has. Would be interested in some sales feedback from anyone who has it from the last few months.
Lots moving inner northside are (clayfield, wooloowin,ascot)
Cheers
Shane
I might even know that house! Just down the road from me
Cheers
Shane
A friend settled this week on a Clayfield house, list price $770, on the market 4 months, settle $690 (10.4% decline)...though they sold their Mitchelton house in 3 weeks for ~5% less than list.
Am helping a friend sell a house in Gordon Park...4 REAs say slow and soft, and 10-20% off January's prices......OFIs we've been to confirm that.
Land in middle ring burbs I have followed is still on the market 5 months later at January prices.
just checked one of my tracking burbs. this time last year there were no houses listed under 300k. Three months ago there were 20 odd. Tonight there are 44.
....................Winston,
Winston, are you able to elaborate in the suburbs which buys are under 300k in Northern suburbs...or is that a trade secret?
hehehe.......unless you understood my rationale for choosing the area, you wouldn't respect my choice of burb. So tell you what. I am prepared to give for free my rationale, which is a more valuable thing. I chose this particular area because it is highly sensitive to credit contraction, and therefore a better leading indicator. But then you have to weigh that rationale against my bigger picture view. which is that Australia and the world are at the beginning of a Minsky Moment (Mark_B can explain it).
I am hearing that there are more price softening to come...this time it will also affect the well to do and middle suburbs.
What are your views on the places like Deception Bay and surrounds?
view about what? quality of tenant? their capacity to absorb rent increases above the rate of oil, food, and finance inflation?
Cheers
Sash
A Minsky moment is the point in a credit cycle or business cycle when investors have cash flow problems due to spiraling debt they have incurred in order to finance speculative investments. At this point, a major selloff begins due to the fact that no counterparty can be found to bid at the high asking prices previously quoted, leading to a sudden and precipitous collapse in market clearing asset prices and a sharp drop in market liquidity.
The term was coined by Paul McCulley of PIMCO in 1998, to describe the Russian financial crisis,[1] and was named after economist Hyman Minsky. The Minsky moment comes after a long period of prosperity and increasing values of investments, which has encouraged increasing amounts of speculation using borrowed money.
The concept has some parallels with Austrian Business Cycle Theory, although Hyman Minsky himself was known as a "radical" Keynesian.
one of the areas i'm tracking didn't have any houses under 400k 6 months ago, now there is a 3 bdrm house for 320k, recently dropped from 365 or so
10-15km south