Are property markets morphing into buyers markets and vendor dropping their asking prices? Well, according to recent news corp …
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No discounting here north of brisbane. I have three houses I bought in a price range of $240-260K pre 2020 and they are up well over 100%. A house across the street from one of them just sold for $619k and one across from my house for $630k. The 5 acres I have just out of town that cost me $500k won't be sold for less than $2mill. I don't need to sell as rents are great. Up from $340 to $600+ pw. One house has been empty for a year now getting a reno. Luckily it's still on fixed interest under 3% for a while yet. I still be ready to buy more soon and I will be. Existing stock and buy the new crap in these planned estates. Yuk
The average house price is $959000. With a 10% deposit, factoring in opportunity cost of deposit, mortgage insurance, maintenance, stamp duty and annual interest only payment at 6% of principle, the home owner will have an annual cost of around $91,000 a year. After three years of expenses, not including council rates or home insurance that's roughly 27% of the purchase price. If we factor in selling costs of say, 3.5%, the selling price need only decline 19.5% from buying price for the seller to lose 50% of the price they paid three years prior. But as a concession they lived three years rent free exc. rates and insurance. This may be a big reason why homeowners will do whatever it takes to keep paying the mortgage, that is, they have the choice of suffering a huge loss or mortgage/ insurance slavery. It's a mugs' game.
truth Martin, Digital ID framework, incorporates Misinformation Bill, Identity Identification Bill, RBA Reform Bill & 'Build to Rent policy, look it up it's all to do with the EU, UN , WEF, IMF, Schwab, ‘Europe Just Passed a Law That’s About to Change Your Life/ Guest: Justin Haskins / Ep 1067’, Allie Beth Stuckey viewed 1.10.24 hitting Australia now
‘Why Labor seeking to Corporatise Australian Homes' 9.8.24 Senate Economics Leg Committee , Labor introducing Bill 15% reduction in tax foreign ownership can't use super to buy a home, will rent off your super, corporate housing, Senator Andrew
‘In Labor’s rent forever world, foreign fund managers are kings and workers are paupers’, people renting Corporate housing, cited Senator Andrew Bragg, Senate Economics Committee, 7.8.24
No discounting here north of brisbane. I have three houses I bought in a price range of $240-260K pre 2020 and they are up well over 100%. A house across the street from one of them just sold for $619k and one across from my house for $630k.
The 5 acres I have just out of town that cost me $500k won't be sold for less than $2mill.
I don't need to sell as rents are great. Up from $340 to $600+ pw. One house has been empty for a year now getting a reno. Luckily it's still on fixed interest under 3% for a while yet.
I still be ready to buy more soon and I will be. Existing stock and buy the new crap in these planned estates. Yuk
Your research is much appreciated Martin.
100%
Great presentation
The average house price is $959000. With a 10% deposit, factoring in opportunity cost of deposit, mortgage insurance, maintenance, stamp duty and annual interest only payment at 6% of principle, the home owner will have an annual cost of around $91,000 a year. After three years of expenses, not including council rates or home insurance that's roughly 27% of the purchase price. If we factor in selling costs of say, 3.5%, the selling price need only decline 19.5% from buying price for the seller to lose 50% of the price they paid three years prior. But as a concession they lived three years rent free exc. rates and insurance.
This may be a big reason why homeowners will do whatever it takes to keep paying the mortgage, that is, they have the choice of suffering a huge loss or mortgage/ insurance slavery. It's a mugs' game.
Until house prices are down 50% it's still a "sellers market"
truth Martin, Digital ID framework, incorporates Misinformation Bill, Identity Identification Bill, RBA Reform Bill & 'Build to Rent policy, look it up it's all to do with the EU, UN , WEF, IMF, Schwab, ‘Europe Just Passed a Law That’s About to Change Your Life/ Guest: Justin Haskins / Ep 1067’, Allie Beth Stuckey viewed 1.10.24 hitting Australia now
‘Why Labor seeking to Corporatise Australian Homes' 9.8.24 Senate Economics Leg Committee , Labor introducing Bill 15% reduction in tax foreign ownership can't use super to buy a home, will rent off your super, corporate housing, Senator Andrew
‘In Labor’s rent forever world, foreign fund managers are kings and workers are paupers’, people renting Corporate housing, cited Senator Andrew Bragg, Senate Economics Committee, 7.8.24
I’ve taken the death pledge 3 times, and it’s taken its toll…
As long as Politicians own investment properties, the prices will keep going up.
And then the scumbags accuse Woolies of price gouging.
Thanks Martin.
Its a marketing trap.
The discount is not enough.
So does this mean property prices to grow another 15% this year?
There is a resistance to the NWO's mad dash to an all electric CBDC tyranny!