anecdotal evidence of property values flattening out?

Discussion in 'Property Market Economics' started by arandomperson, 20th Mar, 2008.

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  1. arandomperson

    arandomperson Member

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    I've been hunting around for a PPOR purchase for some time in Melbourne, and maybe it's just wishful thinking on my behalf but I think prices are flattening out if not dropping slightly, at least for the sector of the market I am looking at (units in outer south east). But I could be overfocussed on a too small a sample of properties to be getting an accurate picture. Anyone else noticing this (or the contrary)?
     
    arandomperson, 20th Mar, 2008
    #1
  2. Andrew Allen

    Andrew Allen Well-Known Member Business Member

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    Could well be the case.

    Have heard a report from a seller of a luxury prop in Briz that the market has really cooled, guess that's tied to the stock market to some extent.

    I will be watching the data trickle in over the next month or so very closely.
     
    Andrew Allen, 20th Mar, 2008
    #2
  3. Glebe

    Glebe Well-Known Member

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    I get emails from domain.com.au when they fit my criteria, even though I'm not looking :cool:

    Aaanyway, I'm seeing more properties come up for sale over the last couple of months than anytime in the last six months. I don't know what this means really. I think they're priced the same as they would have been priced a year back, it's just that there's more hitting the market now..

    Not sure if anyone else has noticed this..
     
    Glebe, 20th Mar, 2008
    #3
  4. shake-the-disease

    shake-the-disease Well-Known Member

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    Talking to an agent (not a johnny-come-lately) the other day, he estimates inner east Melb is down 5-10% this year.
     
    shake-the-disease, 28th Mar, 2008
    #4
  5. BillV

    BillV Well-Known Member

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    BillV, 29th Mar, 2008
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  6. AsxBroker

    AsxBroker Well-Known Member

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    AsxBroker, 30th Mar, 2008
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  7. arandomperson

    arandomperson Member

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    yeah, I've seen the 11K drop article and the 40% increase in 5 year article..
    I am quite sure they are dropping in some parts of Melbourne from my observations (just saw another very nice unit get passed in at auction in Dandenong yesterday).. but they may rise over time given the rental demands right now.
     
    arandomperson, 30th Mar, 2008
    #7
  8. tpc3126

    tpc3126 New Member

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    Median price has dropped 11,000. Never seen the point of using median as a strong indicator. Mean would be more accurate as long as the outliers were eliminated no?
    Prices dropping, opportunity knocks...
     
    tpc3126, 31st Mar, 2008
    #8
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