And yet alot of markets are collapsing overseas which points to a Australia following them.
What to think hmm
clarky2481 on
Need to increase supply big time, multiple levers to pull from the state govt:
– upzoning inner city and transport hub zones for many more apartments to be built.
– reducing or at least streamlining red tape and compliance on new builds.
– bigger land tax on vacant blocks of land
– more building trade apprentice subsidies and free tafe slots
– add trades to the top of the skilled immigration list.
StormBert on
*The report noted that part of the market’s growth was driven by the federal government’s 5 per cent deposit scheme. It enables first home buyers to purchase a property with just a 5 per cent deposit and not pay costly Lenders Mortgage Insurance (LMI), with the Commonwealth acting as a guarantor. Questioned on whether it’s fuelling dwelling price increases, Treasurer Jim Chalmers defended the initiative. “It’s a really important program which is about making it easier for first-time buyers to get a toehold in the market”*
Who could possibly have foreseen this
stehmer3 on
It will never get better while developers have sway over politicians.
Dismal_Row5883 on
Don’t like brissy but I may have to buy a couple at that rate.
gr3iau on
Yaaaaaaaaaaaaay…..
*sigh*
adfraggs on
I’m just going to be extremely thankful that I’m in a financial position where this won’t be an issue for me. I can’t imagine trying to jump on this train as a first time home buyer.
Aggressive_Metal_233 on
As if they aren’t high enough already. What are the young ones supposed to do to get in the market?
willcritchlow23 on
And who’s paying this? How did everyone get so stupidly rich?
Some-Operation-9059 on
A price rise in two years for what is generally speaking a base deposit. Ffs. And rents will do what? … it’s rhetorical
Dismal-core111 on
How incredibly depressing
inverseinternet on
It’s so depressing see this.
Serrath1 on
Can’t believe Brisbane property was 20% undervalued this whole time and the market is only realizing now and catching up…
Glum_Expression4599 on
GREAT!!!! Give us the F’ing suicide pods already!!!
ol-gormsby on
Yes, and that’s not going to stop in the leadup to the Olympics. Don’t expect any “corrections” until after 2032.
Signal-Treacle-5512 on
Bought just before COVID mines doubled now to the moon!
Firm_Trick_9038 on
Every day i get closer to moving to Asia
Little_Phase990 on
The media need to stop the fear mongering. We get it
pastelplantmum on
Fantastic, my partner is already chronically depressed (nihilistic depression) and the rental we’re in is a piece of shit 👌🏽
Ancient_Sail5457 on
2 years ago, I went looking to invest in Enoggera. There wasn’t a heap of houses but there were a few with potential and could have paid circa $800k or a touch over. Now, you cannot find much under a million.
Immigration from interstate has been a big driver plus overseas migration plus inflation plus idiots using SMSFs to buy property.
nightcana on
JFC my house has already gained over 100% equity in 5 years. Prices surely cant keep going up at this rate. The bubble has to burst at some point
BlueDotty on
Jesus h
Unreal
siktech101 on
Housing is now a speculative asset only within reach of the wealthy and it’s going to continue getting worse. Accessible housing is necessary for a healthy society. It must be decommodified or society is going to collapse.
AngrehPossum on
You can call your landlord – the number starts with an international prefix.
Archibald_Thrust on
Can you fucking not
N0tThatKind0fDoctor on
I’m so ashamed of this country.
China_bot1984 on
I might be wearing my tinfoil hat right now but who else thinks they purposely put out these articles to manipulate the market themselves?
People with a bit of money will quickly try and grab a home from their selected areas and boom the house prices raise!
Anyway maybe not…
shakeitup2017 on
It’s absurd and has to stop. We bought a home in September for $1.75M, and had to get a bank valuation done last week for some refinancing, bank valuation came back at $2M.
You might think “oh lucky them, they’ve made $250k in 4 months for nothing. But when you’re selling and buying in the same market, as most owner occupiers do, rising house prices don’t really help you. It certainly doesn’t help new entrants to the market either. The only people who benefit from it significantly are people who don’t need to sell and buy in the same market (investors, basically)
SubstantialPattern71 on
Something’s going to have to give.
I regularly see house in my area (Arana/Ferny) sell for 1.2 – 1.8m. Literally within weeks they are on RE advertised for $900-$1200/wk rent.
This area typically rents for $500-$800/wk.
All these negative gearing investors are doing is artificially inflating the “market price” for rent, meaning long standing tenants, dealing with unscrupulous commission based parasite managers, will receive “market rent in this area is now $1000/wk”
Often though, the parasite managers haven’t bothered asking the landlord if they want rent increases. Parasite managers just want their extra commission.
Our parasite manager wanted to put our rent up $200/wk after not having increased it for 2 years. We asked if the owners had requested that increase. Got told no, they had not.
We said, happy to pay $25/wk more, knowing that rates and insurance costs have increased in the two years.
Sent an email to the property owner, explaining what had happened.
Rent increased by $25/wk.
For renters who don’t have contact details for their landlords, they’re in an invidious position.
Perhaps one change to tenancy laws should be that property owner contact details should be provided for tenants to contact owners if the parasite managers are being unscrupulous.
Another change could be to state that parasite managers can only charge a fixed fee to manage properties, rather than commission based on rent price.
Just a thought.
F1eshWound on
ffs..
tilucko on
what a bargain their 18% rates rise themselves would then seem like, hey!………. 🙄
SlowlyMcSlow on
This is not the value of property going up. This is the value of the dollar going down.
32 Comments
And yet alot of markets are collapsing overseas which points to a Australia following them.
What to think hmm
Need to increase supply big time, multiple levers to pull from the state govt:
– upzoning inner city and transport hub zones for many more apartments to be built.
– reducing or at least streamlining red tape and compliance on new builds.
– bigger land tax on vacant blocks of land
– more building trade apprentice subsidies and free tafe slots
– add trades to the top of the skilled immigration list.
*The report noted that part of the market’s growth was driven by the federal government’s 5 per cent deposit scheme. It enables first home buyers to purchase a property with just a 5 per cent deposit and not pay costly Lenders Mortgage Insurance (LMI), with the Commonwealth acting as a guarantor. Questioned on whether it’s fuelling dwelling price increases, Treasurer Jim Chalmers defended the initiative. “It’s a really important program which is about making it easier for first-time buyers to get a toehold in the market”*
Who could possibly have foreseen this
It will never get better while developers have sway over politicians.
Don’t like brissy but I may have to buy a couple at that rate.
Yaaaaaaaaaaaaay…..
*sigh*
I’m just going to be extremely thankful that I’m in a financial position where this won’t be an issue for me. I can’t imagine trying to jump on this train as a first time home buyer.
As if they aren’t high enough already. What are the young ones supposed to do to get in the market?
And who’s paying this? How did everyone get so stupidly rich?
A price rise in two years for what is generally speaking a base deposit. Ffs. And rents will do what? … it’s rhetorical
How incredibly depressing
It’s so depressing see this.
Can’t believe Brisbane property was 20% undervalued this whole time and the market is only realizing now and catching up…
GREAT!!!! Give us the F’ing suicide pods already!!!
Yes, and that’s not going to stop in the leadup to the Olympics. Don’t expect any “corrections” until after 2032.
Bought just before COVID mines doubled now to the moon!
Every day i get closer to moving to Asia
The media need to stop the fear mongering. We get it
Fantastic, my partner is already chronically depressed (nihilistic depression) and the rental we’re in is a piece of shit 👌🏽
2 years ago, I went looking to invest in Enoggera. There wasn’t a heap of houses but there were a few with potential and could have paid circa $800k or a touch over. Now, you cannot find much under a million.
Immigration from interstate has been a big driver plus overseas migration plus inflation plus idiots using SMSFs to buy property.
JFC my house has already gained over 100% equity in 5 years. Prices surely cant keep going up at this rate. The bubble has to burst at some point
Jesus h
Unreal
Housing is now a speculative asset only within reach of the wealthy and it’s going to continue getting worse. Accessible housing is necessary for a healthy society. It must be decommodified or society is going to collapse.
You can call your landlord – the number starts with an international prefix.
Can you fucking not
I’m so ashamed of this country.
I might be wearing my tinfoil hat right now but who else thinks they purposely put out these articles to manipulate the market themselves?
People with a bit of money will quickly try and grab a home from their selected areas and boom the house prices raise!
Anyway maybe not…
It’s absurd and has to stop. We bought a home in September for $1.75M, and had to get a bank valuation done last week for some refinancing, bank valuation came back at $2M.
You might think “oh lucky them, they’ve made $250k in 4 months for nothing. But when you’re selling and buying in the same market, as most owner occupiers do, rising house prices don’t really help you. It certainly doesn’t help new entrants to the market either. The only people who benefit from it significantly are people who don’t need to sell and buy in the same market (investors, basically)
Something’s going to have to give.
I regularly see house in my area (Arana/Ferny) sell for 1.2 – 1.8m. Literally within weeks they are on RE advertised for $900-$1200/wk rent.
This area typically rents for $500-$800/wk.
All these negative gearing investors are doing is artificially inflating the “market price” for rent, meaning long standing tenants, dealing with unscrupulous commission based parasite managers, will receive “market rent in this area is now $1000/wk”
Often though, the parasite managers haven’t bothered asking the landlord if they want rent increases. Parasite managers just want their extra commission.
Our parasite manager wanted to put our rent up $200/wk after not having increased it for 2 years. We asked if the owners had requested that increase. Got told no, they had not.
We said, happy to pay $25/wk more, knowing that rates and insurance costs have increased in the two years.
Sent an email to the property owner, explaining what had happened.
Rent increased by $25/wk.
For renters who don’t have contact details for their landlords, they’re in an invidious position.
Perhaps one change to tenancy laws should be that property owner contact details should be provided for tenants to contact owners if the parasite managers are being unscrupulous.
Another change could be to state that parasite managers can only charge a fixed fee to manage properties, rather than commission based on rent price.
Just a thought.
ffs..
what a bargain their 18% rates rise themselves would then seem like, hey!………. 🙄
This is not the value of property going up. This is the value of the dollar going down.