Housing collapse 2012 for Australia

Found,an,article,written,last,week,in,the,Australian,newspaper.
Speaks,about,the,housing,bubble,and,how,our,homes,are,40,percent,over,the,price,they,should.be.
Inflated,way,too,high.
And,it,too,,predicts,a,huge,correction,to,this,and,homes,will,go,down,40,percent,to,make,it,more,realistic.

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Hi,

Thanks for this information. This try to help it.

 

Good luck

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House

 

Muffin??


HOUSE prices are falling faster in Melbourne than in any other mainland capital as the market stalls.


The price slide is gathering pace: the median Melbourne price is down by 7 per cent in the past year.

The median price last month was $477,500 - down more than $35,000 in a year, according to research group RP Data.

And Melbourne's army of property investors is also feeling the pain of a weak rental market.

Growth in rents was flat in the year to April.

The gross rental yield, or annual return, for houses in Melbourne was 3.6 per cent - weaker than the interest rate for a typical internet savings account. It was the weakest yield for any city.

The RP Data research echoes figures released yesterday by the Australian Bureau of Statistics, showing that house prices in Melbourne have fallen 2.2 per cent since December.

Adding further pressure to the housing sector, the State Government announced yesterday that after June 30 it would scrap its bonus for first homeowners buying newly built properties.

The scheme, which is separate from the continuing first homeowners grant, offered buyers a $13,000 bonus for buying newly constructed houses in the city, or $19,500 for regional areas.

Economists were doubtful that yesterday's 50-basis-point rate cut from the Reserve Bank would help revive the flagging housing market.

CommSec chief economist Craig James said the fall in prices was driven more by a lack of confidence among buyers and builders than by demand and supply issues.

He said prices were likely to climb in the second half of the year as interest rates fell, "if confidence returns".

"Confidence is the vital ingredient," he said.

National Australia Bank chief economist Rob Henderson said interest rate cuts in November and December had done little to support house prices.

"Three months after two interest rate cuts, what has happened to house prices? They have fallen," he said.

"It doesn't suggest interest rate cuts are much of a panacea for the housing market."

My builder assures me my house will not collapse.....Earthquakes not included.

Bundy, your builder is probably one of the thousand shonky aussie builders, who build houses here with the cheapest materials possible that termites love.

feel free to post amusing image regarding that.

Can't believe rates are going down.

Home owners had not had their back broken yet.

This country sucks. Watch it decline.

Bundy wrote: Feel free to leave...I suggest Hungary with broke under your arm.

Two weeks ago, I had a coffee with school friends.

Whale wrote: You are such a whinger Wortel,if this country sucks tell me a country that doesn't suck in your opinion.Now that moderator duties aren't keeping you here why don't you move there?

or the world war 3...

Maybe she was talking about Spain 

http://www.dailymail.co.uk/news/article-2576711/Buy-ghost-village-50-000-Thousands-abandoned-Spanish-hamlets-sale-price-London-garage.html

Don't forget Brooke predicted Westpac would closed it's doors 5 years ago. Brooke also got her family and friends to take their money out of Westpac and even told the TBV to do the same.

House prices on a par with 2009.  Has Maccamax moved to Greece?

3blindmice wrote: House prices on a par with 2009.  Has Maccamax moved to Greece?

I'm talking my local area only.   Fell by about 8% plus the usual 3 or 4% expected yearly gain. Since I purchased in early 2009.
Has recovered lately in one spurt and slow now . About on par with my purchase price now. [ Allow I have had 5 years of free rent [ less exes]     . The Qld patterns are running true to form. Sydney / Melbourne getting great clearance rates and Building Industry really picking up.     >>   Supply and Demand will decide the next period and with many off shore Investors , very keen , I see an upward trend will continue for quite a time.   Governments don't want a Keating . = lost control in 1988 and even 17% interest rates couldn't stop it. They will slow it with those experiences.
Why do people accept,   materials, rents and food increases as normal but predict House Prices won't move up .     MADNESS

BROOKE wrote: Its,on,the,way,peoples. Will,start,in,2011. Properties,in,Australia,will.drop,by,40percent,to,60,percent. We,are,the,last,developed,country,to,get,hit. But,its,on,the,way. Homes,worth,$800,000,now,will,drop,as,far,as,$400,000,in2011. Interest,rates,set,to,skyrocket. Best,time,to,sell,,,,,,,,NOW. 2012

HOUSE prices in Brisbane have hit a new record high with some suburbs in the sought-after inner-city ring increasing by more than 20 per cent in the last year.

St Lucia, Ascot, Auchenflower and Wilston were the best performing suburbs in Brisbane where the prices increased by more than $150,000.

Property experts say the Queensland’s southeast had emerged as a powerhouse property market generating solid capital growth for homeowners and putting its southern counterparts to shame