A snap shot of what is happening on the ground in Melbourne

Discussion in 'Property Market Economics' started by Lisa Parker, 31st Jul, 2018.

Join Australia's most dynamic and respected property investment community
  1. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    3,901
    Location:
    Melbourne
    Classic example of how different "street level" data can be totally different from suburb data. I tend work off street level data - suburbs/neighbourhoods can vary tremendously block to block, and suburb level data does not capture this.

    The Y-man
     
  2. TheSackedWiggle

    TheSackedWiggle Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    1,111
    Location:
    canberra

    Yoy listing increase by 42% in melbourne doesn't bode well for the prices in coming months,

    Is FONGO kicking in?
     
    MTR and alicudi like this.
  3. TMNT

    TMNT Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    3,503
    Location:
    Melbourne
    Exactlt, medians, suburb medians, desktop vals, valuation software all mean squat

    The best is heaps of comparable sales
     
    Sackie likes this.
  4. JamesP

    JamesP Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    153
    Location:
    Melbourne
    Also this particular suburb is 99% H & L. A tremendous amount of estates were built over the last couple years. All 400-600k homes selling in quantity 17/18 and skewing the median of the established estates. Hard to know what each area is actually worth. But I've been watching the established areas and strangely they've been stagnant until the last 6-12 months. Not much action at all until now, homeowners are probably moving into the market while investors pull out. Almost like a calm before the storm type scenario
     
  5. Ghoti

    Ghoti Well-Known Member

    Joined:
    10th Jun, 2016
    Posts:
    310
    Location:
    Melbourne
    Possibly already mentioned, but in these times of tougher access to credit I wonder how many of these are under contract on Monday subject to finance.

    While I bought my PPoR at auction on the back of a pre-approval letter a couple of years ago, I doubt I'd be so bold under current conditions.
     
  6. Ronald86

    Ronald86 Well-Known Member

    Joined:
    15th Jan, 2018
    Posts:
    45
    Location:
    Melbourne
    And do you obtain these manually by looking at re.com.au map sales? Or is there an easier way?
     
  7. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    3,901
    Location:
    Melbourne
    I actually save every house I inspect on my RE com "saved properties" (I think they call them different now on the mobile version) with notes. That way when they are sold, I see the results.

    The Y-man
     
    _K_O_ and Ronald86 like this.
  8. johnmteliza

    johnmteliza Well-Known Member

    Joined:
    28th Aug, 2018
    Posts:
    303
    Location:
    Mornington VIC
  9. WattleIdo

    WattleIdo midas touch

    Joined:
    18th Jun, 2015
    Posts:
    3,040
    Location:
    Riverina NSW
    @highlighter

    told you so :)
     
  10. TheSackedWiggle

    TheSackedWiggle Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    1,111
    Location:
    canberra

    When falls are top down (as it is due to credit tightening rather then IR hikes),
    top end got effected first and most and price falls will trickle down to lower end soon if not already.
    He was saying the same thing about Sydney few months ago, now look at Sydney even the the lower end has started feeling the pinch.
    It's a top down fall, will soon trickle down to lower end if not already.
    Melbourne's rate of fall is increasing in Jan 19 it has surpassed even Sydney's momentum for first time.
     
    MTR likes this.
  11. TMNT

    TMNT Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    3,503
    Location:
    Melbourne
    I have yet to see a declining property market where the top end is not affected first regardless of ir or credir tightening
     
    WattleIdo, MTR and Sackie like this.
  12. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    12,551
    Location:
    All over the place.
    Stop it. You're making too much sense.
     
    TMNT likes this.
  13. WattleIdo

    WattleIdo midas touch

    Joined:
    18th Jun, 2015
    Posts:
    3,040
    Location:
    Riverina NSW
    yeah yeah It always is and plenty of 'gurus' learn it the hard way.
    You never answered my question: where are your properties? And another one: Did you buy them (if you did) with money you worked for yourself? If not, no need to reply but then don't expect to be taken seriously with your half baked waffle.
     
    Last edited: 10th Feb, 2019
    MC1 likes this.
  14. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    397
    Location:
    Melbourne
    "Prices won't fall in Sydney mate, harbor, migration -- Oh okay but just a little bit. Hmmm, yeah but markets within-- oh all markets... umm well data doesn't matter, fake facts,I go by my gut! How many properties do you own! "
     
    Vishal Bhatti and Triton like this.
  15. MTR

    MTR Material Girl Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    16,022
    Location:
    My World
    Camberwell Melb, representing good value atm
     
    berten likes this.
  16. dave80

    dave80 Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    105
    Location:
    melb
    camberwell is such a large suburb though, with various schools - depending where you are will vastly affect value. for example if youre burwood side, it's cheap as chips as youre wattle park school zone.. if youre middle camberwell around wattle tree rd, you'll qualify at canterbury primary so pay a little more.... if youre over glen iris side, youre likely in hartwell for similar dollars... but if youre in what i call camberwell proper (hawthorn east side) and want camberwell primary, youre still paying big dollars.
     
    MTR and berten like this.