Oh dear... socialists think that can manipulate the market

[lisa jones]

Yes it would be good to explore the notion of affordability further since I feel it's the key to whole situation beginning to unfold across the country. But first - if I may - could I ask your advice on something?

Suppose I were looking at buying a house. This would not be an investment property as such so it's future market value would be fairly inconsequential to me. It would be a holiday home and perhaps eventually a place to retire to. Prices were falling sharply in the area due to various reasons, namely overinvestment foremost. Since I wouldn't be intending to sell until (God forbid) my body gave out and I was put in a nursing home, I would want to make sure that the local market had bottomed before I thought about buying. As someone with experience in property, what signs would you look for tell you that the market had probably bottomed, prices probably weren't going any lower and that it might now be a good time to buy?

Could I get back to you on this?

I'm at work atm and I've got a few impt meetings with some clients to attend to.

Regards

Lisa

PS. Yes .. this is a holding reply lol

[Leftwinger]

Home prices see biggest quarterly slump in 12 years

CAPITAL city home prices have posted their biggest quarterly fall in at least 12 years, as more stock in the housing market allows prospective buyers to wait for bargains, a survey shows.

Capital city dwelling values fell by a seasonally adjusted 2.1 per cent in the first quarter of the year, according to the latest RP Data-Rismark Home Value Index.

The quarterly change was the steepest since the index series began in June 1999, RP Data research director Tim Lawless said.

Prices were flat in the month of March and down 0.6 per cent over the past 12 months, with the national city dwelling value median price at $455,000.

The numbers were being dragged down by a recent rapid build up of housing stock into the market, he said.

http://www.news.com.au/money/property/h ... 6046929370

To be sure, this doesn't mean everywhere - they're still going up here as investors rush to snap up property to on-sell to what they think will be a huge wave of highly paid resource sector workers, and as Bechtel buys up rental property to house it's workers for the gas plant construction. But in general, it seems indicitative of a broad price correction. Let's hope it's a slow wind down, not a sharp crash.

[Leftwinger]

Housing loan increase weakest in a generation

Loans provided by Australian banks and finance companies increased 0.6 per cent in March from the previous month, matching the biggest monthly increase since January 2009, the Reserve Bank of Australia said today.

Lending for housing increased - but at the slowest pace in at least 35 years.

Loans to consumers to buy houses rose 0.4 per cent from February and advanced 6.6 per cent from a year earlier, according to today's statement.

While housing credit is still growing, the rate of growth has slowed markedly. It may be that the current rate of growth is insufficient to allow both increasing prices and increasing sales volumes across the board.



The long term run-down is evident in the records of the RBA. The one bright(er) spot is that business credit is falling at a slower pace. It isn't actually growing yet but the slowdown in it's fall is something positive anyhow.

[Outlaw Yogi]

Yes it would be good to explore the notion of affordability further since I feel it's the key to whole situation beginning to unfold across the country. But first - if I may - could I ask your advice on something?

Suppose I were looking at buying a house. This would not be an investment property as such so it's future market value would be fairly inconsequential to me. It would be a holiday home and perhaps eventually a place to retire to. Prices were falling sharply in the area due to various reasons, namely overinvestment foremost. Since I wouldn't be intending to sell until (God forbid) my body gave out and I was put in a nursing home, I would want to make sure that the local market had bottomed before I thought about buying. As someone with experience in property, what signs would you look for tell you that the market had probably bottomed, prices probably weren't going any lower and that it might now be a good time to buy?

Could I get back to you on this?

I'm at work atm and I've got a few impt meetings with some clients to attend to.

Regards

Lisa

PS. Yes .. this is a holding reply lol

Looks like you've caught her out (blown cover story) Lefty.
If she was into, and so experienced, with what she claims to be her specialty and occupation, she could have punched out an answer off the top of her head.

[IQS.RLOW]

She's gone thirds in a shared house with a couple of relatives and then claims to be a real-estate investor... What did you expect?

[lisa jones]

Yes it would be good to explore the notion of affordability further since I feel it's the key to whole situation beginning to unfold across the country. But first - if I may - could I ask your advice on something?

Suppose I were looking at buying a house. This would not be an investment property as such so it's future market value would be fairly inconsequential to me. It would be a holiday home and perhaps eventually a place to retire to. Prices were falling sharply in the area due to various reasons, namely overinvestment foremost. Since I wouldn't be intending to sell until (God forbid) my body gave out and I was put in a nursing home, I would want to make sure that the local market had bottomed before I thought about buying. As someone with experience in property, what signs would you look for tell you that the market had probably bottomed, prices probably weren't going any lower and that it might now be a good time to buy?

Could I get back to you on this?

I'm at work atm and I've got a few impt meetings with some clients to attend to.

Regards

Lisa

PS. Yes .. this is a holding reply lol

Apologies for the delay in replying Mr Leftwinger .. Friday proved to be a very busy day and evening for all sorts of damnable reasons.

As regards your above question .. my advice?

1) Sit back and watch closely .. and do nothing.

[lisa jones]

Mr Leftwinger .. real estate is an interesting beast. You need to be quiet, watch it closely and wait like a sniper for 2 reasons:

1) to make sure it is the right animal you want

2) to make sure it is the right time to catch that animal

[lisa jones]

It's a pity I don't know the specific area you're referring to .. but I am already sensing alarm bells in the scenario you've depicted.

I am wary of any region which fluctuates too much. It smells risky. I personally avoid risk as much as possible when it comes to property.

[Jovial Monk]

Areas that fluctuate wildly are where you can make some money!

[lisa jones]

Housing loan increase weakest in a generation

Loans provided by Australian banks and finance companies increased 0.6 per cent in March from the previous month, matching the biggest monthly increase since January 2009, the Reserve Bank of Australia said today.

Lending for housing increased - but at the slowest pace in at least 35 years.

Loans to consumers to buy houses rose 0.4 per cent from February and advanced 6.6 per cent from a year earlier, according to today's statement.

While housing credit is still growing, the rate of growth has slowed markedly. It may be that the current rate of growth is insufficient to allow both increasing prices and increasing sales volumes across the board.



The long term run-down is evident in the records of the RBA. The one bright(er) spot is that business credit is falling at a slower pace. It isn't actually growing yet but the slowdown in it's fall is something positive anyhow.

Yep .. I saw that news article.

It all APPEARS to be great .. again I would advise to watch closely the particular AREA you're interested in buying into to see how THAT area is performing.

Attend a few auctions .. grab a few weekly auction results etc .. get a TRUE feel for what's on offer in the postion you're closely guarding.

It may very well tell a different story.