[zaph]

Quote

WHILE many locals decided not to dabble in the Queensland property market this year, it continued to be attractive to overseas buyers who spent $334.2 million on residential property.

And buyers from China once again topped the list, according to new research by Colliers International.

The figures on buying patterns during the 2010-2011 financial year have shown 733 residential sales to foreign buyers.

In all, 506 of those sales were investments with 277 for owner-occupiers.

While overseas buyers eased back on spending, it was not at the same level of decline as local buyers.

http://www.courierma...6-1226233644841

so the qld market is being propped up by Chinese investors. if the figures were available for the rest of the country i imagine east oz would all be similar.

with the bubble currently deflating in china will these investors eye of oz more or less? imo the wealth effect and lack of confidence in property will lead to falls in chinese investors buying in oz.

[urchin]

zaph, on 30 December 2011 - 11:57 PM, said:

http://www.courierma...6-1226233644841

so the qld market is being propped up by Chinese investors. if the figures were available for the rest of the country i imagine east oz would all be similar.

with the bubble currently deflating in china will these investors eye of oz more or less? imo the wealth effect and lack of confidence in property will lead to falls in chinese investors buying in oz.

come on, propped up? we're talking 733 or so sales with a total of 334 million for the entire year. what does that amount to relative to total residential property purchases? only 506 are investment, making the number even smaller... i don't know what kind of volume there is in qld but that isn't much more than a month's worth of activity in the ACT...

more sensationalist reporting with no perspective.

[staringclown]

Thank god we have an impartial source of information like Colliers to provide the data on foreign investment. The federal government considers the information to sensitive to release.


Secret government business

Quote

The rejection letter couldn’t have been clearer.

The Federal Government was holding plenty of documents that were pertinent to my freedom of information request — I just wasn’t going to get any of them.

In fact, I would need to pay $416.62 just for the chance to officially receive a stack of blanked-out and redacted pages.

Advertisement: Story continues below
‘‘Around 19 documents have been identified as potentially falling within the scope of your request. Given the nature of the documents I envisage that most, if not all, of the documents will be exempt from release,’’ the government wrote.

So what was the FOI targeted at... Troop movements in Afghanistan? The prime minister’s private schedule? The names of ASIO’s anti-terrorism informants?

No, it was a request for some basic facts and figures about the state of foreign investment in Australia’s residential real estate market.

[Solomon]

urchin, on 31 December 2011 - 01:39 AM, said:

come on, propped up? we're talking 733 or so sales with a total of 334 million for the entire year. what does that amount to relative to total residential property purchases? only 506 are investment, making the number even smaller... i don't know what kind of volume there is in qld but that isn't much more than a month's worth of activity in the ACT...

more sensationalist reporting with no perspective.

Didn't the Japanese do something similar to this in the 90's?
I remember some pretty spectacular fire sales around Cairns, Townsville, Rockhampton.
Daikyo - now there's a name!
Iwasaki - that's another!

History could be repeating itself here.

[zaph]

urchin, on 31 December 2011 - 01:39 AM, said:

come on, propped up? we're talking 733 or so sales with a total of 334 million for the entire year. what does that amount to relative to total residential property purchases? only 506 are investment, making the number even smaller... i don't know what kind of volume there is in qld but that isn't much more than a month's worth of activity in the ACT...

more sensationalist reporting with no perspective.

the article title was foreigners outspend locals. the propping up part was my comment, which i withdraw your honour as i can't find data.

[urchin]

zaph, on 31 December 2011 - 02:22 AM, said:

the article title was foreigners outspend locals. the propping up part was my comment, which i withdraw your honour as i can't find data.

wasn't criticising you, zaph--was criticising the premise of the article. i don't see how they figure foreigners spent more than locals on residential property. of course if 300 odd million does represent more than the annual investment in resid. real estate in qld, then the article would be correct. qld resi. property would also be in free fall...

i'll let you go with a good behaviour bond for now

[Mr Medved]

staringclown, on 31 December 2011 - 02:04 AM, said:

Thank god we have an impartial source of information like Colliers to provide the data on foreign investment. The federal government considers the information to sensitive to release.

Secret government business

That is pretty pathetic. If I can be fecked today I'll write a letter to the journo. I'm certainly interested in the stats.

[cobran20]

Solomon, on 31 December 2011 - 02:05 AM, said:

Didn't the Japanese do something similar to this in the 90's?
I remember some pretty spectacular fire sales around Cairns, Townsville, Rockhampton.
History could be repeating itself here.

don't forget Yeppoon!

[Bernard L. Madoff]

14,200 sales in the June Quarter (Houses and Flats/Units). Extrapolate that to around 56,000 sales annually. 733 residential sales to foreigners (from the article) represents the princely 1.31%.

See pages 6 and 7
http://www.communiti...eport-jun11.pdf

Fecking shills. I almost wish to get a sneak preview of Equity, property, bond, FX and PM markets January 2012. But then I'll miss a a whole year of watching these shills look like the bone smokers they are

[Bernard L. Madoff]

The Shill has form.

http://www.simplesus...-michelle-hele/

Also,

http://tasmanianreal...are-coming.html

Quote

While love is in the air, I thought I'd send a kiss to Michelle Hele, Courier Mail resident spruikmeister and finalist in the REIQ's best real estate report 2010 (any reference to that has been scrubbed from the REIQ site). As many would note, Michelle had her pants pulled down when she was caught writing a report suggesting first home buyers were rolling back into Queensland. Not only were her figures a mess, she used a real estate agent as the talent, presenting him as a smiling first home buyer. Thanks for the disclosure.

The ABS stats showed that finance commitments to first home buyers in Queensland fell in December, along with all other buyers.

Try spinning that one, babe.

[Solomon]

Bernard L. Madoff, on 31 December 2011 - 05:39 AM, said:

The Shill has form.
http://www.simplesus...-michelle-hele/
Also,
http://tasmanianreal...are-coming.html

Ahhh, Bernie,
What would we do without you?
Thanks for the sleuthing.
I hope you and yours have a fantastic 2012.
Happy New Year everyone.