property update

  1. 1,368 Posts.
    Since so many of you are interested in property as well as shares,
    the market is still raging in Qld, despite recent reports to the contrary in NSW.
    Most agents are having trouble finding stock at reasonable prices, especially in Brisbane, suburbs, gold coast and sunshine coast.People are still moving to se qld at arapid rate.
    This is a sure sign that things are pushing along nicely and will not turn down unless we see a significant drop in employment or rise in interest rates.The drought or threat of war is not slowing down the market at all. People are still selling and looking to upgrade or downgrade. There is a lot of pent up demand after 7-8 years of no capital growth.
    Im no expert in NSW, but friends of mine in the industry report things are still active. Dont beleive the recent reports of the slowdown. The govt figures are always out. They are based on high sales pre olympics and now that demand is back to normal, it looks like a slow down- but it isnt.
    Vic still seems to be doing well according to my sources there. Agents are also short on stock.
    Dont know about other states, but they generally lag nsw by 12 mths, so they still should be quite active. There is still more to be had out of this bull run, as I posted last year. Booms tend to go longer than you expect, so do down markets.
    Property often peaks at the opposite of share cycles as funds look for safer havens. In 22 years as a RE agent, Ive seen several cycles come and go. This one is no different. It will continue until people are concerned about job stability or ability to repay loans (interest rate rises).
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