House prices
Here's a rather scary stat!!!
"Super assets are 145 per cent of Australia’s GDP, compared to 108 per cent a decade ago – the fastest growth versus GDP of any country. Consultants Deloitte projects that super assets will grow to about $11 trillion by 2043, or close to 200 per cent of Australia’s GDP."
g'day Freeride - unfortunately yes, they've started again, pretty much as soon as I returned home from the winter escape. Damn it! Couple of nasty ones, plenty of smaller ones. Went to an immunologist this morning, will re-run the alpha-gal tests, but he seemed to think it's probably not a big concern given I havent had a full-om anaphylaxis reaction. I imagine the ticks are in full swing at your place too?
and I fully hear you again spookypt - my overall physical and mental health are better when I'm at the beach, swimming as much as possible, and a daily walk on the beach at the very least. I know I will return to that lifestyle in the near future. I'd actually be stoked to be in your position just 5 minutes from the water, but yeah, walking distance is the ultimate hey. Crazy prices. I'd started to consider Tewantin...
Times are getting tough
https://theshovel.com.au/2024/09/30/please-sponsor-a-disadvantaged-milli...
jeezuz- whats a block worth Udo?
What happened to that hotel re-development in Crescents. I was there in August and looks like they ran out of money...
freeride76 wrote:jeezuz- whats a block worth Udo?
$650K for 650m2, from memory.
I drove past it a few times last week. The sloganeering is top notch, leaning heavily on the surf vibe. Wouldn't be surprised if the streets cop some Salt Beach nomenclature. Malibu Road, Rincon way, maybe even Crescent Crescent.
Also, FWIW that little hill in the background, it's just opposite the entrance to the estate on the backside of Big Nobby down to the north end of Goolewah, was the first native title claim on mainland Australia. Now handed over to the NPWS.
ryder wrote:What happened to that hotel re-development in Crescents. I was there in August and looks like they ran out of money...
Opening Nov 1st
https://www.escape.com.au/destinations/australia/nsw/ksubi-designers-sea...
https://mailchi.mp/seaseahotel/sea-seas-board-room
New house listings in September reach 9-year high.
It's starting people!!! We all know what happens when supply increases.
udo wrote:https://www.thecrescentestate.com.au/?gad_source=1&gclid=EAIaIQobChMI2K3...
https://www.instagram.com/p/DASjd9Bt_lv/?img_index=1
You gotta have a chuckle at this type of cheesy marketing. How's the beach scene with the 4WD on it. Looks like the Tullamarine Freeway without asphalt. Not much space for your beach towel and pop up shade tent!!!
Wonder how much they paid the other 500 punters to stay out of the water while they took that longboard footage.
donweather wrote:New house listings in September reach 9-year high.
https://www.youtube.com/watch?v=xV4Rt7yOI5A
It's starting people!!! We all know what happens when supply increases.
The answer to your question Don is that real estate agents actually have to do some work.
stunet wrote:Wouldn't be surprised if the streets cop some Salt Beach nomenclature. Malibu Road, Rincon way, maybe even Crescent Crescent.
heading east in Middleton, SA, always got increasingly itchy around 'surfers way', as the streets descend from local-surname, to hang-10 dreaming, to tiki coin-toss.. bondi, manly, miami, waikiki, tahiti, tonga.. I guess at least sloppy grey winter onshores suggest an endearingly aspirational irony..
I was tickled when Ulmarra Shire Council and Nymboida Shire Council amalgamated to form Pristine Waters Council.
Pristine Waters!
A lovely bit of marketing completely devoid of cheese or hyperbole!
"But, but, I wanna be effluent!"
"You are effluent darling!"
Salt definitely went overboard with the street names.
I can think of a couple off the top of my head for this Crescent estate.
Kook Close
Loggers Lane
Hipsters Parade
Wellbeing Way
Instagram Place
tubeshooter wrote:Salt definitely went overboard with the street names.
I can think of a couple off the top of my head for this Crescent estate.
Kook Close
Loggers Lane
Hipsters Parade
Wellbeing Way
Instagram Place
Overload Circuit,
Broken Dreams Blvd,
Sunset Strip,
Snake Alley
Drop In Drive
Burn Lane
Chandelier Circuit
Shoulderhop Close
(Last minute) Pullback Place
etarip wrote:Snake Alley
Drop In Drive
Burn Lane
Chandelier Circuit
Shoulderhop Close
(Last minute) Pullback Place
Nice one Etarip (reverse pirate !,).
Reiki Road
Shaka street
Just head east from Kempsey on the Midlength Motorway
If I were a developer:
Potholes Road (save on asphalt!)
Tombstones Street
Taboo Place
Voodoo Crescent
Cactus Drive
Has anyone got that old Michael Leunig cartoon showing a real estate agent with a beak on his face trying to sell a piece of sky to two birds standing on his desk?
The UBS 2024 Global Property Bubble Index .
How many years for the average skilled worker to buy a Cool Condo near a city .
In first spot HK 22 , Tokyo 14 , Paris 13 ( dropped 20% from pandemic highs ) , London 12 , TEL Aviv 10 , Sing 10 , SYDNEY 9 , NY 8 , LA 7 .
I would rather live in Sydney , again , than in any of the other cities .
"Surfing legend Mick Fanning lists luxury home with skate ramp"
Article:
https://view.com.au/news/national/surfing-legend-mick-fanning-lists-luxu...
Listing:
https://view.com.au/property/qld/tugun-4224/5-farrell-drive-16147033/
Expected to go for about 4 million
Not on the beach or no water views, but still a nice location and very big block for the Goldie(at least that close to coast), nice house but nothing too crazy.
Would probably be a 1.5 million dollar property outside of a built up or hip area.
indo-dreaming wrote:"Surfing legend Mick Fanning lists luxury home with skate ramp"
Article:
https://view.com.au/news/national/surfing-legend-mick-fanning-lists-luxu...Listing:
https://view.com.au/property/qld/tugun-4224/5-farrell-drive-16147033/Expected to go for about 4 million
Not on the beach or no water views, but still a nice location and very big block for the Goldie(at least that close to coast), nice house but nothing too crazy.
Would probably be a 1.5 million dollar property outside of a built up or hip area.
Indo are you suggesting that a place closer to the coast or closer to a desirable area might be more valuable?
No i dont think that needs to be suggested, i think everyone knows that is true.
Was an odd thing for you to point out.
Each to their own but i dont think so.
I often look on realestate.com at different areas but not the Goldie so its kind of interesting to see what 4 million gets you, which while a nice modern house, it's definitely not over the top or even that big (only 3 bed 2 bath)
But yeah a block of that size(1,269m2) that close to the beach must be pretty rare on the Goldie, the block itself must be worth 3 million plus which is crazy.
But then again there is blocks just down the road from me for 1 million a pop half the size with maybe dune views and blue water glimpses at best.(they have been on the market for years and not sold though)
We all know how crazy the real estate market is these days, but it still does blow you away at times.
Yeah I know what you mean.
I saw this house for sale in Byron, pretty average place, they were asking 2.3 million.
The same house in Casino would go for maybe 550k.
Didn't make any sense.
Stock market breaking ATH including S&P breaking through the 6000. BTC also at ATHs.
Melt up is well underway peoples. I hope you’re onboard for the ride.
When do we get our housing crash/correction Don?
One up here got a laundry list of facepalm:
( https://www.stockland.com.au/residential/qld/bokarina-beach )
Barrel Street
Bathers Lane
Bikini Court
Bombora Drive
Carve Lane
Cutback Court
Epic Lane
Glassy Lane
Kombi Street
Longboard Parade
Offshore Street
Paddle Lane
Quiver Street
Riptide Street
Salty Street
Shred Lane
Singlefin Crescent
Skeg Lane
Swell Lane
Switchfoot Street
Tailslide Crescent
Whitecap Court
Sprout wrote:One up here got a laundry list of facepalm:
( https://www.stockland.com.au/residential/qld/bokarina-beach )Barrel Street
Bathers Lane
Bikini Court
Bombora Drive
Carve Lane
Cutback Court
Epic Lane
Glassy Lane
Kombi Street
Longboard Parade
Offshore Street
Paddle Lane
Quiver Street
Riptide Street
Salty Street
Shred Lane
Singlefin Crescent
Skeg Lane
Swell Lane
Switchfoot Street
Tailslide Crescent
Whitecap Court
More floaters out front.... :(
freeride76 wrote:When do we get our housing crash/correction Don?
it’s coming Steve.
There’s one almighty global economic bust coming. Housing won’t be exempt from that.
It’s around the corner after this melt up.
Don can you put it in simple terms as to why it's inevitable?
I'm all for a correction but I'm just not seeing it.
AndyM wrote:Don can you put it in simple terms as to why it's inevitable?
I'm all for a correction but I'm just not seeing it.
There’s one hell of an almighty global economic crisis coming. House prices won’t be immune to this as people will panic sell once they see the market dropping and their other assets like stocks super etc come crashing down. Housing will spiral as there will be a huge influx of supply and Fck all demand. Everyone will be putting whatever they can into cash or selling things fast to get their hand on cash.
Sprout wrote:One up here got a laundry list of facepalm:
( https://www.stockland.com.au/residential/qld/bokarina-beach )Barrel Street
Bathers Lane
Bikini Court
Bombora Drive
Carve Lane
Cutback Court
Epic Lane
Glassy Lane
Kombi Street
Longboard Parade
Offshore Street
Paddle Lane
Quiver Street
Riptide Street
Salty Street
Shred Lane
Singlefin Crescent
Skeg Lane
Swell Lane
Switchfoot Street
Tailslide Crescent
Whitecap Court
Chop Hop Circuit
Poostance Parade
deus ex blokchina
https://www.domain.com.au/news/adrian-portellis-shocking-block-swansong-...
That's a real market for sure.
velocityjohnno wrote:deus ex blokchina
https://www.domain.com.au/news/adrian-portellis-shocking-block-swansong-...
That's a real market for sure.
Will that show survive without him at any future auctions? Like a true 'reality' show, it's all bullshit.
You'd be flat if you were a contestant signed up for the next series knowing the money has left the building.
donweather wrote:AndyM wrote:Don can you put it in simple terms as to why it's inevitable?
I'm all for a correction but I'm just not seeing it.There’s one hell of an almighty global economic crisis coming. House prices won’t be immune to this as people will panic sell once they see the market dropping and their other assets like stocks super etc come crashing down. Housing will spiral as there will be a huge influx of supply and Fck all demand. Everyone will be putting whatever they can into cash or selling things fast to get their hand on cash.
Don, where are all these cashed up people going to live?
donweather wrote:AndyM wrote:Don can you put it in simple terms as to why it's inevitable?
I'm all for a correction but I'm just not seeing it.There’s one hell of an almighty global economic crisis coming. House prices won’t be immune to this as people will panic sell once they see the market dropping and their other assets like stocks super etc come crashing down. Housing will spiral as there will be a huge influx of supply and Fck all demand. Everyone will be putting whatever they can into cash or selling things fast to get their hand on cash.
That’s what I love about you Don.
You’re a real glass half full kinda guy :-)
At least he's consistent
Really interesting to go back to the first page of this thread and look at the numbers and theories and compare to reality now.
“ There’s one hell of an almighty global economic crisis coming”
Ok but I’m trying to figure out what might precipitate this.
And where does Australia’s unlimited population growth policy fit into plummeting house prices?
Isn't there always an economic crisis on the horizon?
I mean, it's inevitable that it'll happen at some point - whether it's one year, ten years or one hundred years away - but what does that mean in the short term? How would you plan for such a crisis, over and above what we're doing at the moment?
donweather wrote:Housing will spiral as there will be a huge influx of supply and Fck all demand. Everyone will be putting whatever they can into cash or selling things fast to get their hand on cash
I also can't see how housing prices will plummet, unless there is a major change of government policy.
Where is the "huge influx of supply" coming from? And why would there be no demand?
Even if people need cash, they also need a roof over their heads - so selling their house to free up some $$, only to then jump into the rental market - doesn't make sense. And if this is happening at scale, then I suspect the government would step in with a solution (like they did with Covid).
Broad brushstrokes etc, but I just don't see where a tipping point for a catastrophic housing crash would originate.
Perhaps that's why I'm not an economist.
donweather is sounding like a stopped clock...
but i still think he might be right
I was actually wholeheartedly in the donweather camp... until I watched this...
https://m.
totally changed my outlook on money, and made wish I'd joined the borrow more camp
but I think donweather is on about bigger cycles, transitions, manipulations, and cooperations...
brics and friends is the thing to watch I reckon
even if donweather is a misguided doomsayer, and the comments above are correct... I think the tightening up of economic conditions will have an impact
as people with expendable income decreases, and the amounts... things like booming Airbnb's will find themselves empty and / or just unviable...
leading to a flood of property back on the market
still don't see a big crash though
short of a donny doomsday event
enlighten us don...
There will be no property crash in Australia. Correction - yes but no crash. A decade of stagnation is the most likely outcome. Australia is not the US where suply often takes off. We only have a handful of cities so there's not much choice to move around to cheaper places.
that's what I see flollo
stagnation
the decade or more leading up to the the start of this never ending boom (2000-ish) was pure flatline
The biggest threat for doom and gloomers and well recognised is US debt.
Trump will add $15 trill more debt...plus.
Interest paid ATM is higher than $1 trill heading towards $2 trill.
The bond market (aka bond vigilantes) will at some point force the issue then it all hits the fan... big time, some are calling there is a major reset coming ignore that just watch the US bond market.
What, when it happens, who, how and why is not fully understood but all agree its coming at some point and there will be pain.
Have a nice day.
If there's a crash coming why not sell now, Don?
Don Dreckly.
House prices - going to go up , down or sideways ?
Opinions and anecdotal stories if you could.
Cheers