Panda Posted July 6, 2011 Share Posted July 6, 2011 just came back from sydney may 2nd. what a dump !! city centre is fine (like disney land for the rich chinese). the suburbs are an alcoholic / heroin fueled indian reservation. trains covered in graffiti and the people are friendly buy lack ANY SENSE OF HUMOR. sydney is up itself. the white austrlians have been pushed out by the harder working chinese and global playboys. the lazy aussies have retreated back to the limits living off gambling, fighting, heroin, drinking and the place is humorless. im glad i went. id NEVER retire in such a horrible place. their idea of global news or events is a picnic day on harbor bridge. souless. absolutely souless. life is like that current bbc program 'the scheme'. dont do it. Sounds like the Gold Coast in Queensland......................The lazy aussies have retreated back to the limits living off gambling, fighting, heroin, drinking and the place is humorless.......... The crime rate is going through the roof just like the cost of living! Ben Bernanke is killing China/Oz et all with his inflation busting QE, its feeding right into the Oz economy... Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted July 6, 2011 Share Posted July 6, 2011 Sounds like the Gold Coast in Queensland......................The lazy aussies have retreated back to the limits living off gambling, fighting, heroin, drinking and the place is humorless.......... The crime rate is going through the roof just like the cost of living! Ben Bernanke is killing China/Oz et all with his inflation busting QE, its feeding right into the Oz economy... i know. i had hoped it was different in the differing regions but it isnt. its totally endemic. totally bogan. Quote Link to comment Share on other sites More sharing options...
Panda Posted July 6, 2011 Share Posted July 6, 2011 http://britishexpats.com/forum/showthread.php?t=723692 I agree if you wait a couple of years i think oz will be banging again, just at present in brisbane the housing market is falling on its ****, and yes the slump has hit here to but the government and the shopping markets dont think there is any thing wrong in putting up the prices on food, well they still have to make MORE PROFIT and stuff the working family that is struggling to make ends meet. House repos has hit a high here and i cant see it get any better for a couple of years. People here are selling their homes to get out of the bite of the mortgage lender, then when they do sell their house they go into a rental, but as the rental market gets less and less it means any land lords out here can ask for more rent, we have the lowest vacancy % for rentals at present its approx 1.8% in most areas, which means there is not many un occupied rentals around. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted July 6, 2011 Share Posted July 6, 2011 Resurrect absent Bardon. COME BACK BARDON NOTHING IS FORGIVEN Quote Link to comment Share on other sites More sharing options...
Paddles Posted August 23, 2011 Share Posted August 23, 2011 Bardon is missing all the fun. For the first time ever in Western civilisation, the precise moment a housing market turned from boom to bust was captured on live reality TV. They may be shite at cricket and both codes of rugby but they are world beaters at late onset hubris; The Block Flop Quote Link to comment Share on other sites More sharing options...
aussieboy Posted August 23, 2011 Share Posted August 23, 2011 Bardon is missing all the fun. For the first time ever in Western civilisation, the precise moment a housing market turned from boom to bust was captured on live reality TV. They may be shite at cricket and both codes of rugby but they are world beaters at late onset hubris; The Block Flop From what I remember, the second series in Manly ended similarly. Eveyone steps up for a sticky beak, few people bid. http://en.wikipedia.org/wiki/The_Block_%28Australian_TV_series%29 Then again, one of the four units this year made their developers 72k. Quote Link to comment Share on other sites More sharing options...
Venger Posted August 23, 2011 Share Posted August 23, 2011 The Block grand finale must be a shoo-in for having crafted two hours of "event" television from an auction at which three out of four houses failed to sell.The Block Flop The prices for those which did sell sound bubbly peak. Bardon loves the auctions. Not the time when the auction rooms are probably infested with sellers who have friends like Bardon in attendance. Bardon. Inflation always eroding mortgage debt believer. The most important thing is that the successful; bidder did not have a gun to her head when she made the winning bid and that she did this on her own volition which from your explanation is the case.I love auctions all the emotion and anxiety and the heat of the moment decisions the auctioneer extracting more money for his vendor great spectacle indeed they are in but only in a rising market. I wouldn't dream of buying at auction though. Auctions are notorious for funny business, I bid my friends house up at auction not so long ago and ended up having the highest bid. My friend did not accept this price but used it post auction as a basis for negotiating a good price for the eventual sale. There was nothing illegal about that and that fact that we were best friends and I had no intentions of actually buying his house does not have to be disclosed either. It is the job of the vendor to extract the highest price possible for a sale.It is the job of the buyer to smell a rat and get it at the cheapest price. All of this goes on within a legal environment. Quote Link to comment Share on other sites More sharing options...
Panda Posted August 23, 2011 Share Posted August 23, 2011 Bardon is missing all the fun. For the first time ever in Western civilisation, the precise moment a housing market turned from boom to bust was captured on live reality TV. They may be shite at cricket and both codes of rugby but they are world beaters at late onset hubris; The Block Flop Oz is teetering, they are already down 10 to 15 %, discretionary spending is really suffering, retail is knackered, manufacturing low value end stuffed, very little high value stuff, jobs going, just cannot see any other outcome bar a big fat correction, maybe the pacific peso going pop if Benny goes for one last bout of inflation blowing QE this Friday, bye bye China and Oz? Quote Link to comment Share on other sites More sharing options...
7clubs Posted August 23, 2011 Share Posted August 23, 2011 Can't remember if I've mentioned this before, but an in-law recently sold her house, in a once extremely sought-after area, for more than 50% off peak, after 2 and a half years on the market. Quote Link to comment Share on other sites More sharing options...
mirage Posted August 23, 2011 Share Posted August 23, 2011 Oz is teetering, they are already down 10 to 15 %, discretionary spending is really suffering, retail is knackered, manufacturing low value end stuffed, very little high value stuff, jobs going, just cannot see any other outcome bar a big fat correction, maybe the pacific peso going pop if Benny goes for one last bout of inflation blowing QE this Friday, bye bye China and Oz? How do you think will US QE pop China and Oz? By forcing them to up interest rates again, do you mean? Quote Link to comment Share on other sites More sharing options...
Panda Posted August 23, 2011 Share Posted August 23, 2011 How do you think will US QE pop China and Oz? By forcing them to up interest rates again, do you mean? Benny is blowing up CHINA and OZ via inflation via money printing, its all over for OZ, a high wage economy, a high cost economy exporting low value goods, take mining out of the equation they are busted................................They have a high currency which is not helping tourism, inward migration and exports... They need rates to go higher to couteract inflation, will they go? One more bout of QE, i reckon will do it! Quote Link to comment Share on other sites More sharing options...
JonoP Posted August 23, 2011 Share Posted August 23, 2011 Bardon is missing all the fun. For the first time ever in Western civilisation, the precise moment a housing market turned from boom to bust was captured on live reality TV. They may be shite at cricket and both codes of rugby but they are world beaters at late onset hubris; The Block Flop Hah hah. Thanks for posting Paddles. You beat me to it. I did not watch the show but it appears to have been a classic. The excellent article in the Australian states: The four terrace houses, in a row in the popular inner-city suburb of Richmond, were bought by Channel 9's Watercress Productions for $3.6 million, valuing each at $950,000 before renovations. About $180,000 was paid in stamp duty on the purchase and up to $400,000 in renovations on each house. http://www.theaustralian.com.au/business/media/block-houses-sell-under-purchase-price/story-e6frg996-1226119995005 Unfortunately, when it came to sell these 'renovated masterpieces', no one was prepared to offer more than about $850K per house. This single show will have more impact on the average thick as pig shite australian than anything that happens in the global economy. They seem to finally be getting the message that prices can go down as well as up. Next stop is the global markets looking at more detail in to the loan books of the big 4 banks. You could argue that they have a bit of a bias towards property..... not great given the direction of the market...... :-) Quote Link to comment Share on other sites More sharing options...
mranderson66 Posted August 23, 2011 Share Posted August 23, 2011 Oz is teetering, they are already down 10 to 15 %, discretionary spending is really suffering, retail is knackered, manufacturing low value end stuffed, very little high value stuff, jobs going, just cannot see any other outcome bar a big fat correction, maybe the pacific peso going pop if Benny goes for one last bout of inflation blowing QE this Friday, bye bye China and Oz? The most immediate impact I can see of all this is that similar to the UK, most sellers are being totally unrealistic. Houses go on the market and just don't sell. Thousands of people are moving to Brisbane every year and I would say virtually none buy, therefore the rental market is totally crazy. I moved here in February and struggled to find a 4 bedroom house with pool within 30mins commute of CBD using public transport, of the 5 I viewed only 2 were liveable and the one I'm in the only one I would like to live in. Problem is it costs $900 a week or $3910 a month. At current exchange rates that's 2600GBP a month, almost 3 times what a 4bed demi in a nice part of Glasgow would cost, even at an exchange rate of 2:1 it's double. I still have a search set up of 4 bed houses with pools in Brisbane City and virtually nothing comes up, anything that does has a queue of people to view and numerous applicants. So whilst falling prices may help, I think until they fall enough that people are forced to sell then the only people losing out are renters. Quote Link to comment Share on other sites More sharing options...
aussieboy Posted August 23, 2011 Share Posted August 23, 2011 Oz is teetering, they are already down 10 to 15 %, discretionary spending is really suffering, retail is knackered, manufacturing low value end stuffed, very little high value stuff, jobs going, just cannot see any other outcome bar a big fat correction, maybe the pacific peso going pop if Benny goes for one last bout of inflation blowing QE this Friday, bye bye China and Oz? I don't understand a word of this either. Are you suggesting that printing more US$ makes it more valuable? That a dwindling low vlaue mfring industry is a sign of lack of economic development? The scenario you are painting is for a lowering of interest rates which will hardly sounds the death knell for the housing market and it won't exactly hinder exporters either. Can't remember if I've mentioned this before, but an in-law recently sold her house, in a once extremely sought-after area, for more than 50% off peak, after 2 and a half years on the market. This implies peak was more than 2 1/2 years (otherwise they would have sold). How does that fit with the story that Australia is currently in a housing bubble? Benny is blowing up CHINA and OZ via inflation via money printing, its all over for OZ, a high wage economy, a high cost economy exporting low value goods, take mining out of the equation they are busted................................They have a high currency which is not helping tourism, inward migration and exports... They need rates to go higher to couteract inflation, will they go? One more bout of QE, i reckon will do it! How is US inflation blowing up CHINA and OZ? Something to do with reduced purchasing power lowering demand for imports or something? They've already stated that interest rates are staying at 0 which makes your take on currency is odd. "Take mining out of the equation and they are busted." Take oil out of Saudi's equation they are busted. Take financial services out of the UK's equation they are busted. Take any country's major export out of the equation and they are busted. Quote Link to comment Share on other sites More sharing options...
aussieboy Posted August 23, 2011 Share Posted August 23, 2011 The most immediate impact I can see of all this is that similar to the UK, most sellers are being totally unrealistic. Houses go on the market and just don't sell. Thousands of people are moving to Brisbane every year and I would say virtually none buy, therefore the rental market is totally crazy. I moved here in February and struggled to find a 4 bedroom house with pool within 30mins commute of CBD using public transport, of the 5 I viewed only 2 were liveable and the one I'm in the only one I would like to live in. Problem is it costs $900 a week or $3910 a month. At current exchange rates that's 2600GBP a month, almost 3 times what a 4bed demi in a nice part of Glasgow would cost, even at an exchange rate of 2:1 it's double. I still have a search set up of 4 bed houses with pools in Brisbane City and virtually nothing comes up, anything that does has a queue of people to view and numerous applicants. So whilst falling prices may help, I think until they fall enough that people are forced to sell then the only people losing out are renters. All good news for the yield on Bardon's properties ; )0 Quote Link to comment Share on other sites More sharing options...
Panda Posted August 23, 2011 Share Posted August 23, 2011 All good news for the yield on Bardon's properties ; )0 aussieboy and Bardon in the same room on the same pc, swapping lip juice, not a chance................they share dentures Quote Link to comment Share on other sites More sharing options...
Panda Posted August 23, 2011 Share Posted August 23, 2011 I don't understand a word of this either. Are you suggesting that printing more US$ makes it more valuable? That a dwindling low vlaue mfring industry is a sign of lack of economic development? The scenario you are painting is for a lowering of interest rates which will hardly sounds the death knell for the housing market and it won't exactly hinder exporters either. You ain't supposed too.................. thats why your ozzyboy! The economic guru...............of OZ lol............................ Quote Link to comment Share on other sites More sharing options...
Bryan Posted August 24, 2011 Share Posted August 24, 2011 Cheer up, Oz, you're a step ahead of anywhere else in all this if Ken Henry recommendations for the tax system can get a look in on 4th and 5th October. Of course, if it doesn't ...... Quote Link to comment Share on other sites More sharing options...
aussieboy Posted August 24, 2011 Share Posted August 24, 2011 You ain't supposed too.................. thats why your ozzyboy! The economic guru...............of OZ lol............................ Erm, you smell? Quote Link to comment Share on other sites More sharing options...
canny man Posted August 24, 2011 Share Posted August 24, 2011 I've been in Oz since 08 and for most of the period it was like the UK in pre-peak mode. The press, the comments in articles the chat with people you meet. The sentiment seemed to shift 6 months ago. It is now generally accepted that 'hotspots' like the Sunshine and Gold Coasts have lost 25-50% of their peak values. This was reported in a number of newspapers at the weekend. It is well known that nominal prices have dropped in the big cities. Real prices are less discussed, but with inflation running at 4% please they are starting to get decent. When I happily report that we are renting and will hold off buying, the general response is now 'smart move' not 'you are crazy' The comments below any on-line property news article are now predominantly negative and bubble oriented. It is common knowledge that outside of mining, the regular Oz family is doing it tough and cutting back on expenditure. Yes, the crash is on, but is still in the phony war stage where vendors expect pre-peak prices and buyers refuse to meet them,. Quote Link to comment Share on other sites More sharing options...
Panda Posted August 24, 2011 Share Posted August 24, 2011 (edited) I've been in Oz since 08 and for most of the period it was like the UK in pre-peak mode. The press, the comments in articles the chat with people you meet. The sentiment seemed to shift 6 months ago. It is now generally accepted that 'hotspots' like the Sunshine and Gold Coasts have lost 25-50% of their peak values. This was reported in a number of newspapers at the weekend. It is well known that nominal prices have dropped in the big cities. Real prices are less discussed, but with inflation running at 4% please they are starting to get decent. When I happily report that we are renting and will hold off buying, the general response is now 'smart move' not 'you are crazy' The comments below any on-line property news article are now predominantly negative and bubble oriented. It is common knowledge that outside of mining, the regular Oz family is doing it tough and cutting back on expenditure. Yes, the crash is on, but is still in the phony war stage where vendors expect pre-peak prices and buyers refuse to meet them,. Great news for the Ozzy's, i hear exactly the same off my friends in Oz, even the expats sites are starting to get real......................and there are some right denials on these sites, real property rampers, clunts......................Cum back Bardon, oh he ain't gone it aussieboy.........................lol Edited August 24, 2011 by Panda Quote Link to comment Share on other sites More sharing options...
aussieboy Posted August 25, 2011 Share Posted August 25, 2011 Great news for the Ozzy's, i hear exactly the same off my friends in Oz, even the expats sites are starting to get real......................and there are some right denials on these sites, real property rampers, clunts......................Cum back Bardon, oh he ain't gone it aussieboy.........................lol You really need to ask your carer to check your typing. OK Panda. I know you probably don't care, but next ad hom puts you on ignore. Quote Link to comment Share on other sites More sharing options...
7clubs Posted August 25, 2011 Share Posted August 25, 2011 This implies peak was more than 2 1/2 years (otherwise they would have sold). How does that fit with the story that Australia is currently in a housing bubble? My view is that the property market in Australia ripples out from, and back towards, the major metropolitan areas. The aforementioned house is located about 3 hours north of Sydney, in an area popular with retirees and "weekenders"; the market there dried up almost immediately in late 2008 (no more no-questions-asked, interest-only loans on beach shacks for penniless wannabes). Just as prices took off first in the cities and rippled outwards, slowly but surely the reverse appears to be happening as the wave makes its way inexorably closer to its start-point. Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted August 25, 2011 Share Posted August 25, 2011 It is now generally accepted that 'hotspots' like the Sunshine and Gold Coasts have lost 25-50% of their peak values. This was reported in a number of newspapers at the weekend. It is well known that nominal prices have dropped in the big cities. Being an avid follower of the Sunshine Coast property market, I can assure you it has not lost anywhere near 25%.from peak (with perhaps the exception of top end Noosa apartments, which have lost 20-30%.) Gross rental yields are still less than 4.8%, often much less, circa 2% in some areas. Having said that, the market is weak. Places that are not the best of the best or seriously competitively priced are sitting on the market for a long time. Quote Link to comment Share on other sites More sharing options...
Panda Posted August 25, 2011 Share Posted August 25, 2011 Being an avid follower of the Sunshine Coast property market, I can assure you it has not lost anywhere near 25%.from peak (with perhaps the exception of top end Noosa apartments, which have lost 20-30%.) Gross rental yields are still less than 4.8%, often much less, circa 2% in some areas. Having said that, the market is weak. Places that are not the best of the best or seriously competitively priced are sitting on the market for a long time. Have to agree there, i monitor the Gold Coast, like to holiday there, so i know the area well, very well, although there is an awfull lot of places up for sale, they are not down over i think more than 10% to 15% percent off peak. But they are sticky, very sticky, not selling, so we are in the stand offish period? The market is weak, very weak, but the Gold Coast is not Sydney or the Northern beaches, this one will play out for the next five years................... Quote Link to comment Share on other sites More sharing options...
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