Skyscraper City Forum banner
Status
Not open for further replies.
1 - 20 of 248 Posts

·
Registered
Joined
·
483 Posts
Discussion Starter · #1 ·

·
Registered
Joined
·
2,483 Posts
Worrying trend in Melbourne this year with an oversupply of properties and huge job losses affecting the housing market in Victoria.

Slow population growth and vacant properties are producing lower rent yeilds which is certainly one way to turn the tap of investors off overnight.

http://www.yourinvestmentpropertymag.com.au/news/melbourne-treads-water-141768.aspx

.
Slow population growth??? It's the fastest growing city on the country.

Huge job losses??? We have a 5% unemployment rate.

Sure times are tougher than what they were a few years ago but you really need to stop believing everything you read in the papers.
 

·
70's porn star
Joined
·
6,730 Posts
The rot is setting in and will spread. Housing collapse well underway. Of course you won't hear it described as such until well after it has set in. The decay actually began in June 2010, although in reality it started with the GFC but the government and fake Chinese stimulus helped get a few more suckers in. Hold on to your seats, most of you have no concept of how far this rot will set in because you aren't the brightest lot which means you were easily brainwashed by the Politico-Housing Complex as part of The Great Australian Property Cult. You were warned.
 

·
Registered
Joined
·
2,115 Posts
Worrying trend in Melbourne this year with an oversupply of properties [/URL]

.
:lol:eek:n current trends and income i should be able to afford a house in only 1-2 hundred years then thanks to this worrying trend. Everywhere you look house prices are plumetting:nuts:

My father who is a doctor might actually be able to afford to buy a house in a decent area during this current market crash:bash:
 

·
Registered
Joined
·
50 Posts
Sheesh Paddo, if you are going to open a thread like this then you might want to provide evidence that is a little more substancial than that which is in the article you linked...
 

·
Registered
Joined
·
14,981 Posts
Eesh.

Fact of the matter is that even if Melbourne fails to get up 50% of its 100m+ proposals, it will still have more happening in this area than any other city in Australia (looking at each of the others' pipelines).
 

·
Banned
Joined
·
9,681 Posts
Eesh.

Fact of the matter is that even if Melbourne fails to get up 50% of its 100m+ proposals, it will still have more happening in this area than any other city in Australia (looking at each of the others' pipelines).
Of the big proposals, here in SEQ it was more like 20% that ended up getting built, 50% is very optimistic.
 

·
Registered
Joined
·
77,375 Posts
were all gonna die.
 

·
Registered
Joined
·
483 Posts
Discussion Starter · #10 · (Edited)
Of the big proposals, here in SEQ it was more like 20% that ended up getting built, 50% is very optimistic.
Hmm, and this is in a property market that has bottomed out in SEQ
The Melbourne boys are being optimistic I suppose , we'll see but the fact remains Melbourne's boom is well and truly over and is now "treading water"
Is the Melbourne market about to sink?
 

·
Registered
Joined
·
1,682 Posts
Melbourne is still very strong...hysterics of a few aside. A gradual and orderly implosion of retail house prices of about 40 percent over 5 or 6 years would be good...way too unaffordable relative to wages etc atm

Folks have been living in a fool's paradise of a bubble with artificial equity being drained off to prop up unsustainable consumer spending.
 

·
Champagne Socialist
Joined
·
12,116 Posts
Hmm, and this is in a property market that has bottomed out in SEQ
The Melbourne boys are being optimistic I suppose , well see but the fact remains Melbourne's boom is well and truly over and is now "treading water"
Is the Melbourne market about to sink?
we have to get through a construction cycle of 12-24 (in some cases 36) months before any accurate prediction or statement can be made.

~120 residential projects of varying sizes, some will finish soon (and therefore hit the rental market sooner so you could probably make a more accurate assumption on the rental market then) others will finish and hit the rental market later - the majority of which - (if the majority of the units are now owner-occupied - and I dare say projects like Prima which wont be opened for 24-36 months are not going to be heavy on the rental side of things) in 2-3 years.

Note that the presser you linked to probably is 90% weighted in the suburban detached housing stock: the stock that very few people on here really give two shits about.

the next super-sales cycle isnt due for another three years - the boom has shifted from marketing/sales to construction and will very much be with us for at least another two years.
 

·
Registered
Joined
·
6,329 Posts
I'm not just bearish n the market, but the whole country. Should be written off as a joke.

I look at those silly Gillard and Abbott mugshots and all I can see is the twentyodd million dickheads who put them there.
 

·
Registered
Joined
·
6,329 Posts
I mean Lance is right, he just doesnt know why. Maybe he thinks its technicals v fundamentals, really, it is hard to price a country that has very little going for it of any real value.

Looking at recent Chinese adventurism, maybe they would find it easier to come here and extract the minerals they want out of the ground without having to worry about us and our parasitic south eastern corner a recreation of a memory of Europe long ago.
 

·
Registered
Joined
·
1,682 Posts
I mean Lance is right, he just doesnt know why. Maybe he thinks its technicals v fundamentals, really, it is hard to price a country that has very little going for it of any real value.

Looking at recent Chinese adventurism, maybe they would find it easier to come here and extract the minerals they want out of the ground without having to worry about us and our parasitic south eastern corner a recreation of a memory of Europe long ago.
...you mean like the various euro-american oil companies have done with support from their home countries across the globe for the last 65 years?
 

·
Registered
Joined
·
4,505 Posts
Hardly, the national unemployment rate is at 5.2 and Victoria's is at 5.8

See link:

http://m.heraldsun.com.au/business/...y-at-52-per-cent/story-fn7j19iv-1226324718157

.
lol, not only do you cite the Herald Sun as a credible source - but you also draw on stats that are over 3 months old.

ABS, latest is May 2012 has Vic at 5.5. Given the position of comparable places around the world, like Canada and the US, Victoria is doing alright:
http://www.abs.gov.au/ausstats/[email protected]~2012~Main Features~Unemployment Rate~3.4
 
1 - 20 of 248 Posts
Status
Not open for further replies.
Top