TASMANIA now SECOND .....

Discussion in 'Property Market Economics' started by See Change, 28th Oct, 2019.

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  1. See Change

    See Change Well-Known Member

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    State of the States - CommSec

    Tasmania has now passed NSW to become the second strongest state , so "suck eggs " to all the Tassie doubters from recent years .

    As a disclaimer , we have recently sold about half of our Tassie properties ( though one still subject to finance ) .

    Lack of faith in Tasmania ? well it's closer to the top than it was , but I think still has some more movement .

    Issue is lack of serviceability in our portfolio . Selling has given us a very healthy capital growth which is enabling us to pay of debt so we can refinance to avoid the IO to PI cliff coming up . It will also improving our cash flow position .

    We still hold multiple properties down then.

    Cliff
     
  2. Gen-Y

    Gen-Y Well-Known Member

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    You must be paying plenty of fees to keep the states coffers full. ;)
     
  3. See Change

    See Change Well-Known Member

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    Less than we pay elsewhere ...

    Cliff
     
  4. datageek

    datageek Well-Known Member

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    CommSec's state of the states for July 2014 had the top 2 states as WA and NT. Imagine buying there in August 2014! Ouch.

    In July 2016 Tassie was ranked last. 6 months later was the start of Hobart's boom. In July 2017 Tassie was still only ranked 4th but prices had already started climbing in Hobart. It was still ranked 4th in July 2018, well into the Hobart boom. By July 2019 it was ranked 3rd. Now it's ranked 2nd. I wonder if the top ranking will be assigned at the precise peak of the Hobart market.

    NSW got top ranking in 2015, a couple of years after the start of Sydney's boom. It still had the top spot in July 2017, around the peak of the Sydney market.

    Victoria replaced Sydney for the top spot in July 2018, around the peak of the Melbourne boom.

    Looks like this CommSec state of the states could be used to pick the peak. Great for selling, but not much help with buying.
     
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  5. Waterboy

    Waterboy Well-Known Member

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    Buy the rumour, Sell the news.

    Sell ! ! !
    Sell ! ! !
    Sell ! ! !
     
  6. See Change

    See Change Well-Known Member

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    Still holding around half our Tassie Portfolio . Might sell one to fund something in our super , but the other two are long term buy and holds .

    Cliff
     
  7. See Change

    See Change Well-Known Member

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    Might disagree on that . The trends on the individual stats can act as a guide of what's to come . Brisbane is good on population growth and economic growth but bad on housing starts . Increased demand , decreased supply , sounds like a good recipe for property prices:cool: .

    One of the reasons why Hobart moved was the lack of new supply in the face of other positives.

    Cliff
     
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