Australia housing bubble

[b0son]

Are those car sales officially counted at the time of registration? If so, given the supply constraints over the last couple of years, how many of those are on cars ordered a year or more ago? It would be more interesting to see sales figures at the time of order date.

I'm not sure how else the RBA could influence spending. A floating GST would make the most sense if you want to rapidly reign in inflation, but that's impossible with the way it was legislated.

[fordomatic]

Got one of my investments valued last week, I ended up getting two because I didn't trust the first, second one came up the same. 24% rise in 16 months, property is in Brisbane. During COVID it dropped 30%, it's now just above where it was before COVID.

[buggerlugs]

Originally Posted by fordomatic

Got one of my investments valued last week, I ended up getting two because I didn't trust the first, second one came up the same. 24% rise in 16 months, property is in Brisbane. During COVID it dropped 30%, it's now just above where it was before COVID.

Is it a Unit ? Because houses never dropped up here during Covid. They just went crazy, still are.........

[FoxtrotGolfXray 5.0]

For those interested, one of my loans (fixed rate of 2.19%, locked in three years ago) is due to expire in a few days time. Contacted my bank a month or so ago and discussed what rate they'd be able to offer me and the guy indicated that they'd be able to better the advertised intro rate of 5.98%. Rang them yesterday and, of course, they indicated that there was no way they'd be able to get less than 6 now given the rate increase since we last talked, but I told them that I still expected a figure starting with 5.

Talked to them again today and they've offered my 6.09%. That's darn sight better than the 7.17% that my current variable loan is on!!

I appreciate there are better rates available out there, but I essentially have to do nothing to get this rate, as opposed to refinancing and going through a tonne of paperwork.

[fordomatic]

Originally Posted by buggerlugs

Is it a Unit ? Because houses never dropped up here during Covid. They just went crazy, still are.........

Yep, a unit. Has recovered fine. My rent didn’t go down, so it didn’t concern me as I wasn’t selling it.

[T3rminator]

Someone with some gonads has pulled the trigger.

https://www.abc.net.au/news/2023-12-...ease/103210808

Under the new measures, which will only apply to existing dwellings purchased after May 2017, a foreign investor would pay $84,600 in application fees when buying an existing property worth $1.1 million and would face an annual vacancy fee of $169,200.

[roKWiz]

Originally Posted by T3rminator

Someone with some gonads has pulled the trigger.

https://www.abc.net.au/news/2023-12-...ease/103210808

It's a step in the right direction.

[T3rminator]

Originally Posted by roKWiz

It's a step in the right direction.

Well there have been a lot of people calling for foreign investor's blood on housing. Heard that foreign investment holds less than 1%, which will make bugger all difference to supply, but will bring in $400m in revenue . Its hard to say how accurate the 1% is, because some ownership are done through proxies.

[prydey]

Correct, it's about revenue and optics rather than a genuine attempt at fixing anything.

[roKWiz]

Originally Posted by T3rminator

Well there have been a lot of people calling for foreign investor's blood on housing. Heard that foreign investment holds less than 1%, which will make bugger all difference to supply, but will bring in $400m in revenue . Its hard to say how accurate the 1% is, because some ownership are done through proxies.

Its a start. No ones kids here will be able to afford a house anyway. I reckon foreign investment is quite a bit more than they tell us.

[Citroënbender]

Well, yes. I presume that category of “foreign investment” is just those who do not conveniently have dual nationality or PR. The gold visa has a lot to answer for.

[vztrt]

Originally Posted by prydey

Correct, it's about revenue and optics rather than a genuine attempt at fixing anything.

Pollies won't do anything as it would be political suicide. Like fixing our tax system.

[Syndrome]

REIV dodgy numbers game getting worse. 687 results reported. 672 not reported. In past years REIV have always cut 25 to 35% of the numbers as "not reported". This is the first time I have seen 50% of the numbers culled from the final figure.

[b0son]

Originally Posted by Syndrome

REIV dodgy numbers game getting worse. 687 results reported. 672 not reported. In past years REIV have always cut 25 to 35% of the numbers as "not reported". This is the first time I have seen 50% of the numbers culled from the final figure.

I think this was happening at the height of covid, justification being to avoid a mass sell-off/panic. I remember around the same time, someone on another forum wrote a script that trawled realestate.com.au and tracked asking prices, and there were some pretty substantial falls in the first half of 2020.

[roKWiz]

IMO. The perfect recession proof property for the average car or truck nut in the King Valley.



https://nutrien.harcourts.net/au/off...moyhu-vic-3732

[Itsme]

Originally Posted by roKWiz

IMO. The perfect recession proof property for the average car or truck nut in the King Valley.

image

https://nutrien.harcourts.net/au/off...moyhu-vic-3732

Lol, why did it close down?

[mad2]

Originally Posted by Itsme

Lol, why did it close down?

possibly coz it's in the middle of nowhere?.

[roKWiz]

Originally Posted by Itsme

Lol, why did it close down?

Its a heritage piece, you know, for someone who wants to house a club/car collection not run a servo.

Recession proof in that its quite cheap compared to the cities.

[Itsme]

Originally Posted by roKWiz

Its a heritage piece, you know, for someone who wants to house a club/car collection not run a servo.

Recession proof in that its quite cheap compared to the cities.

Well, that is what I thought until after viewing the sale advert, obviously not working quite well for the current owner.

[Citroënbender]

Possibly one of those short-term treechangers?

[roKWiz]

Originally Posted by Itsme

Well, that is what I thought until after viewing the sale advert, obviously not working quite well for the current owner.

Are you sure, certainly read a lot into that short lisiting.

I suppose someone who doesn't own any classic vehicles wouldn't get it.

[Syndrome]

Originally Posted by Itsme

Lol, why did it close down?

In one of the pictures you can see just Holdens parked in front of the building. There is your answer.

[roKWiz]

Originally Posted by Syndrome

In one of the pictures you can see just Holdens parked in front of the building. There is your answer.

Posted just because.

[Trendseeker]

Originally Posted by Syndrome

In one of the pictures you can see just Holdens parked in front of the building..

There are lots of Fords parked at the front in their Facebook photos.

https://www.facebook.com/moyhuhistor...servicestation

Amongst the classics is a ZG Escape.

[roKWiz]

Originally Posted by Trendseeker

There are lots of Fords parked at the front in their Facebook photos.

https://www.facebook.com/moyhuhistor...servicestation

Amongst the classics is a ZG Escape.

Beautiful old Deere on that page.

[FairmontGS]

Originally Posted by Trendseeker

There are lots of Fords parked at the front in their Facebook photos.

https://www.facebook.com/moyhuhistor...servicestation

Amongst the classics is a ZG Escape.

Awww good onya I was expecting something like this...

[Trendseeker]

Originally Posted by FairmontGS

Awww good onya I was expecting something like this...

image

It was there if you scrolled far enough through the photos:

[Citroënbender]

Summer and the incredible shrinking Aussie lot, has seen a marked increase in the number of balls coming over our fences as adjoining properties get subdivided and built to 100% FSR. Possibly because I don’t look like I’d take kindly to kids jumping the fence (or perhaps it’s the 300000 shirty bees ), they walk halfway around the block to the front door and ask me to get the ball, please.

Never having lived around small lots before, I wonder if this event (six-and-out or an own goal) is now common across many suburbs.

[MITCHAY]

Haha reminds me about jumping the fence when I was a kid and parents would get ****ed sometimes. Though we had a 900+sqm block. Usually ask once and they tell you to get it yourself.

Though the twins next door used to always ask even though gates were open and we just said get it yourself.

One time they decided they wanted to play with our budgies and left the ****ing aviary unlocked

[ford71V8]

I would always knock on the door and ask to retrieve my footy.
Thought it was polite to do that way.
Grumpy neighbour would get all upset at me and told me Next time I keep and puncture it.
So I climbed his fence to retrieve the ball after that.