House price increase from trough ... so far

The St George area eg Bexley, Rockale, Kogarah etc are still affordable, as are parts of the Shire eg Gymea, Sutherland, Engadine and surrounds.

 

Since election

Sydney +4.7pc
Melbourne +4.5pc
Brisbane/Gold Coast +0.2pc



Northo has turned a bit conspiracy theorist, suggesting the numbers are 'created' and misleading, and possibly part of a wider industry/media agenda.

Me may be onto something with that: it's quite possible that new builds are struggling more than is understood and this isn't showing up in the figures (?).

Anyway, a challenge for the bear case is that now the headlines via Corelogic are set to report bonanza growth figures for the 3 months to October - maybe even close to +5pc for MEL/SYD - which itself may lead to a bit of FOMO.

Auctions are also sneaking up as lower mortgage rates gradually filter through.

 

The problem in taking extreme positions and pandering to your echo-chamber is that it exposes your privates to your group of cult followers with 'emperor-sans-clothing' and once that happens one would hang on to (or create) any number of conspiracy theories to satisfy the naysayers, or else they will walk and log-in to another conspiracy theory youtuber.

I would think North & Keen's muppet show must be on last legs in the face of data coming through

 

yeah affordable is one thing ... desirable is another...

 

OK so they are not Tamarama or Mosman but there are a lot worse places in Sydney to live than these areas.

 

Post-election

Sydney +5.1pc
Melbourne +5.1pc
5 capital cities +3.2pc

A bit mixed around the cities...



h/t @wombat777

 

Do you access data with Brisbane alone without the GC?

 

not on this index unf.

 

Desirable is in the eye of the Beholder .
Some one living in Penrtih and works in the airport or city maybe love Rockdale or Stgeorge.

Rockdale to the beach is an 8 minute drive.

So its all relative.

If you are used to leaving in Point piper Bondi may seem dirty and crowded and non desirable.

 

The St George and Sutherland shires are also super colloquial - ie those that grow up there seldom leave. The desire to own in mum and dad's patch of suburbia AND remain 5-15 mins from beaches AND close to national parks is stronger than the urge to go closer to the cbd in these cases for many young professional couples. Whereas much of western Sydney seems somewhat more mobile-minded and if a better or closer option can be afforded it will. I'm generalizing of course but my siblings, siblings in law and childhood friends are all shire folk so I base this on more than a few data points.

 

The issue with this demographic is that many want all this & expect Western Sydney (or cheaper) prices.

 

Agree but the ones with cash pay it. Plenty seem to get help from mum and dad too.

 

This discussion is kinda useless as the desirability is reflected in the prices. Proximity to city in terms of km alone is not the only priority for many home buyers which is projected on this forum as the single most popular home buying criteria by many 50 something year old investors who are stuck in the Sydney they grew up in.

 

Did you even ready my Reply?

 

Alot of what you are saying IS very true.

I think i will comment that alot of people leaving in western Sydney dont actually want to live their its a matter of affordability. Hence their mobility if they can be in a better location they will move.

Also western Sydney is a very large place.

 

Thanks!

It looks to me like Adelaide has turned and Brisbane growth is accelerating. This may be bottom of cycle for Adelaide ... ?

Chart updates using yesterday's data from Core Logic.

 

'Remarkable': Melbourne housing market in fastest recovery ever

and

Sydney property market records fastest rebound in decades

Its headlines like these (Melbourne with the fastest recovery ever and Syd with fastest recovery in decades) that will drive the sentiment further... and the growth seems to be accelerating at a faster pace in Oct (averaging equivalent of 2% / month) going by the corelogic's daily price indices.

 

fastest recovery ever say estate agents please believe us

seriously - some people will get burnt here. nothing has really changed.

more calm heads will still see bargains around, they are there. this is classic spring ramping from agents. flight to quality but patchy rebound is what i'm seeing.

some better stock is appearaing in suburbs i track, whereas for example, the past year the 3 bedders on market have been knockdowns on blocks, now some nicely renovated ones are on the market as people are jumping in to sell ( a fair few ) too. sale of these is skewing the results. The type of stock transacting is a little different, better, and prices look like they have " increased".

buyer beware.

 

did you even read the article mate? click on the link and read it "s l o w l y" so you know who said what and why... its pure data and nothing else that is referenced

 

The converse was true during the downturn.. Poor quality stock making the fall seem larger than it was. This was certainly the case in the suburbs I monitor with median around 1.1m