Sour Mash Posted June 24, 2015 Share Posted June 24, 2015 Have the Aussies resorted to money printing (QE) yet? If not, there's still scope to keep asset prices inflated. Quote Link to comment Share on other sites More sharing options...
wherebee Posted June 24, 2015 Share Posted June 24, 2015 Have the Aussies resorted to money printing (QE) yet? If not, there's still scope to keep asset prices inflated. good point. when/if the aussie banks start to collapse (they are massively exposed) I doubt hugely any oz gvt will let them go to the wall.... Quote Link to comment Share on other sites More sharing options...
Venger Posted June 24, 2015 Share Posted June 24, 2015 good point. when/if the aussie banks start to collapse (they are massively exposed) I doubt hugely any oz gvt will let them go to the wall.... Not when Abbott's $1 million equity gain profit is at risk + all the other VI. Protect the equity hyper gain. Quote Link to comment Share on other sites More sharing options...
CentrinoDuo Posted June 24, 2015 Share Posted June 24, 2015 good point. when/if the aussie banks start to collapse (they are massively exposed) I doubt hugely any oz gvt will let them go to the wall.... While TPTB are those with assets, the asset bubble will not stop. They will try everything they can to stop the crash from happening. TBH not seeing going to happen in Oz anytime soon. I've given up going back to Oz in the near future. Our horizon has been extended to 10 - 15 years. So that's when I hope the HPI will stop and we have a chance to go back. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 24, 2015 Share Posted June 24, 2015 Chinese property prices have been FALLING (now slowing in growth, but falling) in the last 12 months :- http://www.ibtimes.com/record-fall-property-prices-brings-more-bad-news-chinas-slumping-real-estate-market-1850704 http://www.ft.com/cms/s/0/8cf9e2e6-9ef3-11e4-ba25-00144feab7de.html There's been lots of news about this. Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted June 24, 2015 Share Posted June 24, 2015 Chinese property prices have been FALLING (now slowing in growth, but falling) in the last 12 months :- http://www.ibtimes.com/record-fall-property-prices-brings-more-bad-news-chinas-slumping-real-estate-market-1850704 http://www.ft.com/cms/s/0/8cf9e2e6-9ef3-11e4-ba25-00144feab7de.html There's been lots of news about this. http://www.stats.gov.cn/english/PressRelease/201506/t20150619_1181132.html http://data.stats.gov.cn/english/swf.htm?m=turnto&id=6 (in the top pie-charts, left one is yoy and right mom). The data only covers 70 cities (a fraction of the country) with added skew in that they're mostly first and second tier cities. I think the national number is a weighted average of those but don't know how it's constructed. Quote Link to comment Share on other sites More sharing options...
rollover Posted June 24, 2015 Share Posted June 24, 2015 Australian territory bigger than Scotland on sale for £175mAustralia is selling the largest private non-state and non-monarchical stretch of land in the world – a 39,000 square mile series of cattle stations worth an estimated £175 million. The sale has attracted interest from more than 30 bidders across the world, including farming families, investment syndicates, meat companies, foreign investors and global pension funds from China, the United States, Britain, Switzerland and Canada. But the sale has proven controversial in Australia and led to calls by some MPs to ensure the property is not sold to a foreign state-owned investor. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted June 24, 2015 Share Posted June 24, 2015 Thanks. Anchor butter in the UK no longer is made in NZ using Kiwi milk. It is made with EU/UK milk. New Zealand Anchor Butter eaten in New Zealand on NZ vogels toast...soooo goood. Quote Link to comment Share on other sites More sharing options...
Guest Posted June 25, 2015 Share Posted June 25, 2015 Chinese property prices have been FALLING (now slowing in growth, but falling) in the last 12 months :- http://www.ibtimes.com/record-fall-property-prices-brings-more-bad-news-chinas-slumping-real-estate-market-1850704 http://www.ft.com/cms/s/0/8cf9e2e6-9ef3-11e4-ba25-00144feab7de.html There's been lots of news about this. Oh dear, you'll never make an EA! I don't think "falling" is an actual word in this context - I believe you mean "temporary pause in growth" or "slight softening" Quote Link to comment Share on other sites More sharing options...
bobbo Posted June 25, 2015 Share Posted June 25, 2015 The only thing you all forget is that there is inflation in Australasia so while I agree that it is overpriced, over the term of a mortgage you are extremely unlikely to lose out. Also the current collapse in currency values will support prices as it did in the UK 6 years ago. Let's see what happens here as Sterling recovers. Quote Link to comment Share on other sites More sharing options...
wherebee Posted June 26, 2015 Share Posted June 26, 2015 The only thing you all forget is that there is inflation in Australasia so while I agree that it is overpriced, over the term of a mortgage you are extremely unlikely to lose out. Also the current collapse in currency values will support prices as it did in the UK 6 years ago. Let's see what happens here as Sterling recovers. I do hope not.... Quote Link to comment Share on other sites More sharing options...
Venger Posted June 26, 2015 Share Posted June 26, 2015 The only thing you all forget is that there is inflation in Australasia so while I agree that it is overpriced, over the term of a mortgage you are extremely unlikely to lose out. Also the current collapse in currency values will support prices as it did in the UK 6 years ago. Let's see what happens here as Sterling recovers. Wage inflation is the the only kind of inflation that boosts house prices. (together with people taking on ever higher multiples of debt even without wage inflation - foreign wealth buyers). Inflation in everything else (food, energy, medical) just takes away from the money people have to spend on housing. Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 26, 2015 Share Posted June 26, 2015 Wage inflation is the the only kind of inflation that boosts house prices. (together with people taking on ever higher multiples of debt even without wage inflation - foreign wealth buyers). Inflation in everything else (food, energy, medical) just takes away from the money people have to spend on housing. Quite - Roy Hill development in WA (Gina Rineharts Iron Ore project) have just announced 5-10% pay cuts for all middle and upper ranking staff. Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 26, 2015 Share Posted June 26, 2015 (edited) In the West today (WA local rag) there was an article about Australia's population growth stalling with record numbers departing. I assume thats mostly 457 workers. Without this unemployment rates would be a lot higher. Also depopulation in WA and Queensland and people migrate towards NSW and Vic. Also Kiwi's heading back home as economy strong there. Edited June 26, 2015 by Kurt Barlow Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 26, 2015 Share Posted June 26, 2015 In the West today (WA local rag) there was an article about Australia's population growth stalling with record numbers departing. I assume thats mostly 457 workers. Without this unemployment rates would be a lot higher. Also depopulation in WA and Queensland and people migrate towards NSW and Vic. Also Kiwi's heading back home as economy strong there. Has the Oz economy got that bad already? Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted June 26, 2015 Share Posted June 26, 2015 Kurt have you got a sense of what is going in the Perth market now? I saw some headline YoY figures (11% down) any idea if this is continuing/hastening? Currently mulling over WA as a possibility should we return to Aus.. Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 26, 2015 Share Posted June 26, 2015 Kurt have you got a sense of what is going in the Perth market now? I saw some headline YoY figures (11% down) any idea if this is continuing/hastening? Currently mulling over WA as a possibility should we return to Aus.. On the rental side Agents cannot do enough to help you as a potential tenant. Not sure about sales but the unit we are currently in was on the market - now back up for rent for an optimistic $10 a week less than we are currently paying until the end of the month. Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 26, 2015 Share Posted June 26, 2015 Not when Abbott's $1 million equity gain profit is at risk + all the other VI. Protect the equity hyper gain. One potential trick they have up their sleeves is to allow access to Super to buy property. That will get things going nicely again. Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 26, 2015 Share Posted June 26, 2015 Has the Oz economy got that bad already? Many of the Persian community here (invariably Engineers) have seen the slow down and are looking at opportunities in Kazakstan, Oman and the UAE amongst other places. A friend who is a Mech Eng has applied for over 200 jobs with no success Quote Link to comment Share on other sites More sharing options...
macbeth79 Posted June 27, 2015 Share Posted June 27, 2015 Many of the Persian community here (invariably Engineers) have seen the slow down and are looking at opportunities in Kazakstan, Oman and the UAE amongst other places. A friend who is a Mech Eng has applied for over 200 jobs with no success One of the reasons house prices crashed in Spain was due to depopulation and you seem to be alluding that this is happening. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 27, 2015 Share Posted June 27, 2015 What's booming in Australia these days? Mining's been in a downturn for over a year now, but house prices continue to rise. It must just be investment buys. Quote Link to comment Share on other sites More sharing options...
MarkG Posted June 27, 2015 Share Posted June 27, 2015 It must just be investment buys. The Chinese seem to have become bored with building ghost towns in China and want to take it global now. Quote Link to comment Share on other sites More sharing options...
wherebee Posted June 28, 2015 Share Posted June 28, 2015 The Chinese seem to have become bored with building ghost towns in China and want to take it global now. Yup - I've been telling you bloody lot on here for a couple of years now just how much buying property in a western nation (UK/OZ/CAN/USA) is done by everyblodybody with 2 cents in Asia. Got told I was making it up, exaggerating, etc etc. IT HAS NOT STOPPED You want a HPC - stop foreign purchasing of residential properties. Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 28, 2015 Share Posted June 28, 2015 The Chinese seem to have become bored with building ghost towns in China and want to take it global now. Unsurprisingly the Unit we rent and depart in 7 days time was up for sale. The only viewer was a Chinese lady who asked if we would like to stay impressed by the fact we had not wrecked the place! Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted June 28, 2015 Share Posted June 28, 2015 What's booming in Australia these days? Mining's been in a downturn for over a year now, but house prices continue to rise. It must just be investment buys. I'm getting the impression here in Perth not much is shifting in that market either. People are leaving the state on mass Others are downsizing Some are consolidating - can think of at least two sets of friends who have gone from renting 1 bed units to renting a 3 bed with a friend and cutting rental costs by 30-40% Quote Link to comment Share on other sites More sharing options...
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