[cobran20]

Big yearly % increases in some of the capital cities.

link

Quote

The number of properties on the market in Melbourne in December 2011, according to SQM Research. This is up 43% from 33,865 in December 2010.







The number of properties on the market in Sydney in December 2011, according to SQM Research. This is up 23% from 27,956 in December 2010.









The number of properties on the market in Brisbane in December 2011, according to SQM Research. This is up 3% from 28, 389 in December 2010.





The number of properties on the market in Perth in December 2011, according to SQM Research. This is up 1% from19,292 in December 2010.





The number of properties on the market in Adelaide in December 2011, according to SQM Research. This is up 26% from 14,242 in December 2010.







The number of properties on the market in Hobart in December 2011, according to SQM Research. This is up 52% from 3,090 in December 2010.





The number of properties on the market in Canberra in December 2011, according to SQM Research. This is up 21% from 1,578 in December 2010.







The number of properties on the market in Darwin in December 2011, according to SQM Research. This is down 1% from 1,554 in December 2010

[cobran20]

and black_dragon's latest property hotspots

[gibber_blot]

Almost 30,000 in Brisbane, compared to 35,000 in Sydney. The population of Sydney must be about double that of Brisbane?

I've always said south-east Queensland will be our California.

[savagegoose]

i love a property where the occasional. tornado give you an excuse to redecorate ever 10-20 years. that must be worth the little extra you pay

[Peachy]

savagegoose, on 19 January 2012 - 03:24 AM, said:

i love a property where the occasional. tornado give you an excuse to redecorate ever 10-20 years. that must be worth the little extra you pay

Hehe, yeah!

[mattau]

gibber_blot, on 19 January 2012 - 02:37 AM, said:

Almost 30,000 in Brisbane, compared to 35,000 in Sydney. The population of Sydney must be about double that of Brisbane?

I've always said south-east Queensland will be our California.

Yeah this is pretty surprising. You'd expect perhaps a double amount of properties on the market in Sydney. Guess it shows you the lack of supply perhaps in Sydney, and probably that's why prices there are generally much higher?

[urchin]

mattau, on 20 January 2012 - 02:17 PM, said:

Yeah this is pretty surprising. You'd expect perhaps a double amount of properties on the market in Sydney. Guess it shows you the lack of supply perhaps in Sydney, and probably that's why prices there are generally much higher?

ya think? or maybe it shows how much of a basket case brisbane is?

[cobran20]

Property taking longer to sell as stock levels hit record highs in some areas: RP Data

Quote

The glut of property sitting unsold on the market means 2012 buyers could find reduced prices in capital city markets given vendors face lengthy blowouts in the number of days on market before sale.

Premium housing has recorded the highest blowout in the average time on market before sale, according to a RP Data survey.

Perth’s Cottesloe houses are currently taking up to 160 days to sell, up by 74 days over the year.

The prestigious suburb of Mosman Park on Perth’s Swan River recorded a 59 day blowout in days on market with homes in the suburb currently taking about 123 days to sell.

“The inner areas of each capital city have often recorded some of the largest increases in the average selling time,” says senior researcher at RP Data Cameron Kusher.

“This reflects the broad trend of premium housing markets recording weaker conditions than lower-priced markets.”

“In regional areas – although coastal markets have been the weakest performers in terms of value growth – these markets have generally been underperforming for some time and in many instances have not recorded a substantial increase in time on market over the past year,” he says.

The data records the greatest increase over the 12 months to October 2011.

According to Kusher, with housing markets transitioning out of a growth cycle over the past 12 months and value falls experienced across most regions, vendors have found it increasingly difficult to sell their properties.

“We are now seeing an increase in the amount of stock available for sale where it has risen to record highs over the year.

“Vendor discounting levels have increased and the negotiation process has taken longer.

“Subsequently, the average time on market has risen across most regions,” he says.

Kusher notes unit markets within the outer suburbs recorded the greatest increase in time on market.

Across regional Australia, Plantagenet in south-west Western Australia has recorded the greatest increase in the average time on market for houses, with the average selling time increasing by 123 days over the past 12 months. The Plantagenet council area also has the highest average selling time for houses of all Australian council areas, at 235 days.

Regional areas of Western Australia, South Australia and New South Wales account for the vast majority of council areas highlighted.

The Central Coast council area on Tasmania’s northern coastline sandwiched between Burnie and Devonport recorded the greatest increase in the average time to sell for a unit over the year, with units now taking 166 days.

The time it takes to sell has increased by 104 days over the past year.

Across the regional areas of the country, seven council areas in both New South Wales and Victoria have been among those to record the greatest increase in average time on market, followed by six in South Australia.

[mattau]

urchin, on 20 January 2012 - 03:35 PM, said:

ya think? or maybe it shows how much of a basket case brisbane is?

Yeah I suppose that's another way of looking at it.. hmmm

[cobran20]

Melbourne full of empty homes

Quote

RENTERS struggling to find a home in Perth should move to Melbourne.

The southern capital's rental vacancy rate has risen to 4.4 per cent, the result of a surge in apartment building and slowing population growth.

Western Australia's mining boom has kept renters on their toes, with only 1 per cent of rental homes vacant, December figures from SQM Research show. A vacancy rate of 3 per cent usually signals a ''balanced'' market.


Melbourne's high vacancy rate is likely to put downward pressure on rents, particularly in places such as St Kilda Road and Southbank, where apartments and vacancies are peaking.

Rental accommodation remains tight in popular inner-city suburbs such as Fitzroy and Abbotsford, where vacancy rates hover around 1 per cent.

''The north-east suburbs of Melbourne, where there is demand for affordable rental accommodation, have also been holding up better,'' said SQM's Louis Christopher.

Sydney's rental market remains relatively tight, with a vacancy rate of 2 per cent.

Settling into suburbs such as Gordon, Strathfield South and Rhodes has been made easy, with between 8 and 13 per cent of rental properties vacant.

So, too, were they in prestige suburbs such as Vaucluse, Bellevue Hill and Elizabeth Bay.

A ''seasonal spike'' in December pushed up residential vacancies from 1.9 to 2.4 per cent across the country.

''What is of particular concern is Melbourne's seemingly ever increasing vacancy rate, a figure that most definitely reflects an oversupply issue,'' Mr Christopher said. For the rest of the country ''it is still a landlord's market and we are expecting rental increases overall to be within the 4 to 6 per cent range''.

Canberra had a vacancy rate of 1.1 per cent, Darwin 1.7, Adelaide 1.9, Hobart 2.4 and Brisbane 2.5 per cent, the figures show.

Rental vacancy rate an 'ominous development', says SQM

Quote

VACANCY rates for rental properties across Melbourne have surged to a six-year high in an "ominous" development for the property market.
The city has the highest vacancy levels of any state capital, with more than 16,000 rental properties now empty, according to research group SQM.

Managing director Louis Christopher said that even allowing for the usual summer spike in vacancies, Melbourne had a clear oversupply, particularly of units.

That situation could worsen as new apartment blocks were finished, he said.

Melbourne's vacancy rate surged 1 percentage point last month to 4.4 per cent.

Rental rates are expected to fall as a consequence, further undermining the sluggish housing market.

Mr Christopher said the vacancy rate, assessed using online rental listings advertised for three weeks, showed there were 16,007 vacant rental properties.

Sydney, with a vacancy rate of 2 per cent, had almost 5000 fewer properties available.

"Three per cent is about equilibrium but over that it indicates a rate of vacancy where rents are starting to fall, which follows on from the flat rentals of the past year in Melbourne," Mr Christopher said. "It's a concern because there's still a lot of work in progress in Melbourne on apartment blocks yet to be completed."

Real Estate Institute of Victoria figures put the vacancy rate at a more moderate 3.1 per cent late last year.

Property advisers Opteon said the market was still tight in the suburbs and predicted rents might increase this year -- but the inner city was definitely in danger of oversupply and a high vacancy rate.

[Bernard L. Madoff]

Quote

VACANCY rates for rental properties across Melbourne have surged to a six-year high in an "ominous" development for the property market.
The city has the highest vacancy levels of any state capital, with more than 16,000 rental properties now empty, according to research group SQM.

Helloooooo Dublin.

[Mr Medved]

Bernard L. Madoff, on 27 January 2012 - 03:09 AM, said:

Helloooooo Dublin.

Paddy whacked?

[firehawk]

cobran20 said:

Settling into suburbs such as Gordon, Strathfield South and Rhodes has been made easy, with between 8 and 13 per cent of rental properties vacant.

So, too, were they in prestige suburbs such as Vaucluse, Bellevue Hill and Elizabeth Bay.

muahahahahahaha
Drop the rental rates to fill yer properties or leave them empty and get no rental income!

[zaph]

firehawk, on 27 January 2012 - 10:39 PM, said:

muahahahahahaha
Drop the rental rates to fill yer properties or leave them empty and get no rental income!

what sort of burbs are Gordon, Strathfield South and Rhodes? lower, mid or upper class?


i would expect the prestige areas to always have high vacancy as they are less liquid.

[tor]

zaph, on 28 January 2012 - 03:09 AM, said:

what sort of burbs are Gordon, Strathfield South and Rhodes? lower, mid or upper class?

i would expect the prestige areas to always have high vacancy as they are less liquid.

Gordon is pretty mid class I would have said. It has it's share of crappy condition old apartment blocks but also some nice streets. It has a medium sized shopping centre, an "always stops here" railway station and a few restaurants on the highway but not much else. The prestigious suburbs are kind of either side of it. Although even then they are North Shore which is no Eastern Suburbs.

Rhodes is similar to Gordon but a bit lower class I think. Strathfield is pretty crappy in comparison, Strathfield South might be a niche of niceness or something. Strathfield counts as inner west I think.

None of them would count as prestige I don't think.

[sydney3000]

According to the vacancy rate they are no class suburbs.

Strathfield's popularity stems from its 'all trains stop here' station. Strathfield South is in another universe when it comes to public transport.

Rhodes is the prime example of how not to stuff up a nice coastal-peninsula landmark. 'They paved paradise' comes to mind. If you wish to know how much heat streets and buildings can store then Rhodes will give you a nice tan.

I would not put Gordon and Rhodes in the same category even though I have never been in Gordon. Gordon is surrounded by quite acceptable Killara, St Ives and Pymble and plenty of greenspace to boot. I wouldn't call Gordon part of the North Shore because its too far inland. It is a mixed bag and that probably explains its lack of interest.

This post has been edited by sydney3000: 28 January 2012 - 05:07 AM

[booboo]

Rhodes is sort of an odd mix between older housing, and big, new "luxury" apartment complexes. Rhodes is Melbourne-like, in that they have really overbuilt on "luxury" apartments that retail for a premium. I would be amazed if 2/3 of empty apartments in Rhodes are even really picked up by SQM as I doubt they are individually advertised (similar as to how Trio, etc was when it was sitting half empty as the developers try to trickle feed overpriced apartments with next to no demand onto the market).

Incidentally, if you look at rental prices in Rhodes, they are not priced for a suburb with over supply.

This post has been edited by booboo: 30 January 2012 - 02:55 AM

[cobran20]

booboo, on 30 January 2012 - 02:55 AM, said:

Rhodes is sort of an odd mix between older housing, and big, new "luxury" apartment complexes...

Rhodes is a mix between older housing and a gigantic Meriton Valley, built on reclaimed toxic land, in front of an equally polluted stretch of the Parramatta river/Sydney Harbour!

[booboo]

cobran20, on 30 January 2012 - 03:07 AM, said:

Rhodes is a mix between older housing and a gigantic Meriton Valley, built on reclaimed toxic land, in front of an equally polluted stretch of the Parramatta river/Sydney Harbour!

Yeah, there were stories even floating around a year or two ago that construction work was ordered stopped on several complexes as the land was too toxic for the builders!

Newington Estate (or whatever it is, it's one of them in that area built on the old battery factory) is also a law suit waiting too happen in 10 or 20 years (just like Hunters Hill).

Heard also that the massive old factory at White Bay (seen in the Matrix movies!) has never been developed because it is supposed to be toxic as well. Was wondering why it had never been touched, as it'd a prime developmental area under 2km from the city right at the end of Anzac Bridge. Well, that and the local council is anti-development.

edit: And you mentioned the poluted Harbour / Paramatta River - don't forget the warnings to eat only very specific fish in small amounts caught from that area of the river!

http://www.dpi.nsw.g...ons_and_Answers
http://en.wikipedia....uality_concerns

This post has been edited by booboo: 30 January 2012 - 03:51 AM