A chart of the capital growth (or loss) over the previous 12 months, data from Residex and current till end of October 2011. Canberra is the best performer at -0.68%
Canberra -0.68%
Sydney -1.63%
Hobart -2.53%
Adelaide -3.90%
Darwin -4.03%
Melbourne -4.36%
Perth -4.93%
Brisbane -5.51%
that doesn't look very good at all does it
interesting times ahead i think
MikeyB71 wrote:that doesn't look very good at all does it
interesting times ahead i think
It looks ordinary!
I'm happy to tell it like it is, which has been very poor for Brisbane in particular over the last 12 months. I'm also comfortable with the idea that even though it's quite possibly a very good time to be buying at the moment the majority of the buying public will wait until the market is booming again (such as the end of 2007!). Just the way of the world!
Thanks for the information Andrew. At first glance it may appear house prices are falling through the floor. However, taken in perspective, even the negative 5.51% for Brisbane ain't bad. I live in Melbourne and have personally seen the median prices in some suburbs increase by 20% or so within a 12 month period. A 4-5% drop in prices isn't troubling at all, particularly considering the toxic news floating around in the media. Certainly if you did buy at the peak it could create some worries about potentially having negative equity. But IMO, property is mostly about going long term, so looking 5-7 years, or even 10 years ahead…who knows what else the future would hold by then? After all, property is hardly the sort of stuff that we trade like shares.
fWord wrote:Thanks for the information Andrew. At first glance it may appear house prices are falling through the floor. However, taken in perspective, even the negative 5.51% for Brisbane ain't bad. I live in Melbourne and have personally seen the median prices in some suburbs increase by 20% or so within a 12 month period. A 4-5% drop in prices isn't troubling at all, particularly considering the toxic news floating around in the media. Certainly if you did buy at the peak it could create some worries about potentially having negative equity. But IMO, property is mostly about going long term, so looking 5-7 years, or even 10 years ahead…who knows what else the future would hold by then? After all, property is hardly the sort of stuff that we trade like shares.Yes not that bad when you have a global perspective (what GFC? Didn't really get one in Aus) and factor in issues such as the Brisbane floods. Brisbane's peak to present fall is around 10%, that's house value only and not factoring positives such as rent income and negatives such as real value falls (inflation adjusted). But.. not really that bad all things considered. How has the ASX fared?
Those figures are capital city wide, in Brisbane you have the experience of close to CBD holding up very well and mortgage belt areas experiencing 10-20% falls and certain higher price brackets and locations (1m+ coastal) getting hammered, always a good time to be making money, mostly from value adding presently as the capital growth has been absent.
woah. thanks for sharing.
that puts it into more detailed perspective about capital loss recently.I agree that it's a good time to buy
Andrew_A wrote:Canberra is the best performer at -0.68%Good old Canberra
Things seem to have picked up a little recently – I'm sure a couple of rate cuts will help as well.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Jamie M wrote:Andrew_A wrote:Canberra is the best performer at -0.68%Good old Canberra
Things seem to have picked up a little recently – I'm sure a couple of rate cuts will help as well.
Cheers
Jamie
Yes would be nice to see markets stabilize and start growing again, plenty of investors sitting on fences and trying to time this market (in Brisbane) at the moment.
Andrew_A wrote:…and locations (1m+ coastal) getting hammered, always a good time to be making money, mostly from value adding presently as the capital growth has been absent.Coastal is where I'd be buying now if I had the cash. Then again I've always been partial to properties near the sea.
fWord wrote:Andrew_A wrote:…and locations (1m+ coastal) getting hammered, always a good time to be making money, mostly from value adding presently as the capital growth has been absent.Coastal is where I'd be buying now if I had the cash. Then again I've always been partial to properties near the sea.
Yes some of this buying is potentially quite good at the moment.
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