House prices rising again 2009

[kincella]

now for some other exceptional news
......hints....there are some other strong indicators for confidence.....like the sharemarket lately....

Although first-time buyers helped support the market, "people forget that 70-75 per cent of home buyers aren't first timers''.

No significant falls


Homes in every capital, except Perth, rose in value. Median home prices in the WA capital fell by 0.8 per cent to $466,385 after "spectacular" growth during the commodities boom.

"Our analysis demonstrates that home values are rising in around 80 per cent of all suburbs with only the top 20 per cent of suburbs ranked by price suffering material falls," said Christopher Joye, managing director of Rismark International, which releases the report jointly with RP Data.

Darwin homes experienced the highest median-price growth, rising 5.3 per cent to $443,179 in the first four months of the year, while Melbourne median values grew 4.5 per cent to $436,548. Sydney home values climbed 3.9 per cent to $522,797.

RP Data national research director Tim Lawless said the figures cast doubt on the notion that a `bubble,' driven by low interest rates and the boost to the first time home owners' grant by the government, would develop in the first-home buyers' market.

"Home values in Australia's mortgage belts, which are the prime first-home buyer markets, were flat or falling between 2004-07 while the inner city and affluent markets enjoyed consistent growth,'' Mr Lawless said.

"In 2008-09 we have seen a reversal of these fortunes.''

http://business.theage.com.au/busine...0529-bpm7.html
ps I copied this from another forum

___grasshopper - =- A term for someone learning from a wiser master. Often used in mockery when something is 'common knowledge' that is ..Property Investor in Commercial and Residential. I hold for 10 years or the mv reaches my sell figure.

[kincella]

UH OH....looks like we have a hiccup here....
all attempts to look at the big picture....goal posts being moved...makes it difficult to see, how the opponents can win their arguments....
and just when you thought you had seen it all....into cruzing gear....
out comes another obstacle......

PLANNED apartments worth more than $2 billion have been shelved or abandoned in inner Melbourne because of the financial crisis.

Projects affected since September include the $700 million Jam Factory redevelopment in Chapel Street, South Yarra, and failed venture WeLive's 320 apartments at Southbank.

At least 3155 apartments or units planned for the CBD, Fitzroy, St Kilda, South Yarra, Docklands, North Melbourne and Collingwood have also been shelved or abandoned, according to figures collated by Colliers International for The Age.
The drop-off could put hundreds of building jobs at risk and worsen the inner-city rental squeeze.

The figures are based on the status of development applications kept by Building and Construction Interchange Australia, a leading provider of building information.

They are likely to spur on supporters of the Commonwealth's proposed $4 billion Australian Business Investment Partnership - or "RuddBank" - that would fund commercial property players struggling for finance. The Senate is yet to vote on the proposal.

Freehills law firm partner David Sinn, who advises developers in gaining finance, said difficulty in securing loans and their high cost was making some projects unviable, despite strong demand. "Basically, the banks are in a position at the moment where they feel they are overexposed to the property market and are very reluctant to provide any further funding," he said.

http://www.theage.com.au/national/2b...0527-bnnv.html

ps copied this one from the other forum....lets get some action going on this site...stir things up a bit...get involved...make it happen :D
cheers

[kincella]

this is all with 'tongue in cheek', a bit of a stir to liven the place up...

you know that dream home some of you were looking for...the million dollar ones that have dropped 40% and now only $600k...or thats what you were hoping for...based on the silly associate professor's wishing well....

....cannot find it...wonder why ?....well it just does not exist...in fact it will probably be on the market for 1.2 million now or more....

the natives are not restless....they have been renovating the old house, staying put and upgrading it....33 billion dollars last year....now that is keeping a load of people in work and businesses running along....its helping the economy...

see this quote......

Dr Dale said renovations would continue to underpin the housing industry, accounting for 47 cents in every dollar spent in the market. "Renovation activity hit a record worth of nearly $31 billion in 2007/08 and our forecast is for the value to be well on the way to $33 billion in 2010/11," Dr Dale said.

On Wednesday, the Australian Bureau of Statistics (ABS) announced that the value of construction work for the first three months of the calender year posted its biggest fall in almost nine years.

and don't bother with the argument, this information is coming from the insiders...would you rather the 'feral goat industry' who specialise in feral goats...spent the time analyising the housing market ?

http://www.news.com.au/heraldsun/sto...65-664,00.html
__________________

[kincella]

and this from the business spectator..
by Christoper Jopye
It’s official – house prices are rising
Notwithstanding the media’s fixation with sketching disastrous outcomes for Australia’s housing market, and recycling sensationalist sound bites from “experts” who like to conceive of such scenarios, today’s data convincingly demonstrates that Australian home values rose strongly in both the first quarter of 2009 and during the month of April (see chart below).

Based on Australia’s largest sales database, which includes over 60,000 transactions in 2009, the monthly RP Data-Rismark Hedonic Capital City Home Value Index rose by a stunning 2.8 per cent over the four months to end April 2009. (And there is evidence to suggest that the performance of the non-capital city regions has been even healthier.)
and this bit....now we are getting some sensible information...regarding that median price the media like to use to sway the argument toward their gloom and doom...in fact my research has shown that prices were going higher in the lower priced suburbs that I watch...
see notes....from the full article..

The other issue here is that the ABS uses a “stratified median price index”. If more lower-valued homes are selling because of an increase in, say, first time buyer activity, median price indices can report lower returns when house prices may be rising. RP Data-Rismark’s hedonic methodology helps minimise this problem.
http://www.businessspectator.com.au/bs.nsf/Article/Its-official--house-prices-are-rising-pd20090529-SGVEY?OpenDocument&src=is):

[kincella]

this is the link that shows the % of houses selling...over 65% were up to the 500k range, 10% at 600k and so on...so most houses that sold were $500k or below....so of course that would skew the median price downwards...when in fact the actual prices were rising......
hehhheheheh ...traps for players...and the media were the biggest snare in the traps

http://www.businessspectator.com.au/bs.nsf/0bd6ea4d7e0e401eca257300000473fc/d3937264127bb47aca2575c400201062/bodyhtml/0.3D6!OpenElement&FieldElemFormat=jpg