Showing posts with label residex. Show all posts
Showing posts with label residex. Show all posts

Sunday, November 4, 2012

To buy or not to buy a Queensland Unit?

See here for a transcript of a conversation with property analysts, as to whether it is too risky to buy an apartment in Qld due to the changing strata laws and levy entitlements.

Wednesday, July 18, 2012

Residex Property Statistics June 2012

Residex has published its June 2012 statistics chart here.  According to Residex, Brisbane apartment median valued decreased by 2.92% in the last financial year, and decreased just over 3% in the prior financial year.  Melbourne was down over 4%.  The number of sales of apartments in Brisbane increased slightly  in this period.

Tuesday, January 17, 2012

Blue Sky Ahead?

John Edwards at Residex believes that there is blue sky ahead for the Australian residential property market.  A quote from a blog entry from today:

"Adverse comments and the position currently surrounding European economic problems have certainly had an impact on Australia’s economy; however it is important to recognise the position Australia holds, and that if things do go horribly wrong, Australia has the capacity to simulate its economy by increasing borrowings and decreasing interest rates.

Our housing markets ended 2011 in a better position to where they started and I am confident that the year ahead will be better for residential property owners compared to last year.  Most owners should see their assets hold value or increase and this year could in fact be a good time for investor activity provided the world economy doesn’t move into severe recession as a consequence of the problems in Europe. ...

The data suggests that we are exiting a period of negative adjustment however, in my view, we should not expect any rapid uplift in housing values because current economic conditions are not capable of supporting strong consumer activity. Retail activity during the Christmas period certainly suggests that consumers are cautious."

Friday, November 25, 2011

Decreasing Market

According to Residex, the median sales price of Brisbane apartments dropped 3.48% in the year ending October 2011 and dropped 1.74% in the last quarter.

See Residex blog.

Monday, July 18, 2011

Residex Statistics

Residex has released its report for June 2011 prices. See report here. For Brisbane apartments:
  • Capital Growth over past 10 years - 9.66% per annum
  • Capital Loss over past 12 months - 3.19%
  • Median Value - $360,000
  • Rent - $360

Saturday, June 4, 2011

On The House Down 9% on First Day

OntheHouse, which gives away data, listed on the ASX recently by its lawyer founder, and dropped 9% on the first day. I think it would be safer buying real estate than this startup company who has a business aimed at real estate agents. Especially when the number of real estate agents is dropping dramatically - a mass exodus of real estate agents according to the AFR.

Thursday, May 28, 2009

Residex Prediction

"Residex is now confident that the property market will not crash as it did in the USA and UK. In fact, some areas are about to experience good future capital growth..."

Friday, January 16, 2009

Market Wrap

Market Wrap from Residex

"Saying we have passed the worst is a brave call in an environment where the world economy is in such a poor state. The risks that remain for us are that unemployment increases significantly and immigration is slowed as a consequence of government reacting to the higher level of unemployment. The balance to this is the lower interest rates which will reduce defaults while people continue to hold down a job."

"As a blanket rule you should stay out of the Gold Coast market, Western Australia and Brisbane units unless you are very well researched. These markets will be ripe for the picking late in 2009 when we should have passed their bottom but currently they look as if the risks are too high and the bargains will not yet be presenting sufficiently. Sellers will still be holding unrealistic expectations."

Reports 7.06% growth in Brisbane apartment prices in 2008, and 10% rent growth for same period. Sales volume drops from 16,000 to 12,370 Brisbane apartment sales (comparing 2007 and 2008 years).

Saturday, July 26, 2008

Find Me A Home

Residex have launched a new service, FindMeAHome.

From my quick review, it is not very user friendly or accurate.

Using a map interface, it lists properties for sale. First, the list is not comprehensive. Second, it lists properties for sale that have been sold.

When selecting a property, it gives an indicative value. For the apartments that I looked at, the indicative value is not very accurate.

For example:
  • A two bedroom apartment in Quay West - indicative value given as more than $1,348,000. This apartment would be, at best worth in the $800,000s.
  • A one bedroom apartment in Charlotte Towers - indicative value given as more than $731,000 to $837,000. This apartment would be, at best worth $400,000 (most likely $360,000.)
  • Casino Towers, Apt 3702, indicative value given as more than $1,166,000. This apartment recently sold at auction for $705,000.
There are many other examples, including for suburban houses. John Edwards has clearly got this wrong.

Saturday, May 10, 2008

Brisbane Median House Price Growth

The following are reported Brisbane median house price growth rates, reported by various data providers:

March 08 Quarter

ABS: 2.8%
RP Data: 2.1%
Residex: 3.8%
APM: 2%

April 07 to March 08

ABS: 20.8%
RP Data: 17.3%
Residex: 21.2%
APM: 18.4%