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Simultaneous property reports offer conflicting results

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Australian Broker | 21 May 2013, 04:00 AM Agree 0
Two simultaneously-released Queensland property market reports demonstrate starkly different attitudes towards the region's outlook
  • Papery | 21 May 2013, 09:05 AM Agree 0
    Nobody ever talks the market up (prematurely) now, do they?
  • Peter | 21 May 2013, 03:42 PM Agree 0
    They just do not want to recognise that the record low IR of 2.75% means squat to first home buyers. What is much more important is the monthly repayments they are looking at on a median priced house ($515,000) after factoring in a medium term future of lower salary increases and reduced job security.

    Industry keeps referring to 'undervalued residential property'... but undervalued compared to what? If the next generation decide that owning they're own home isn't worth it (or indeed possible), then I would say that residential property will be quite overvalued. People may say that will never happen, but massively high house prices will quickly bring that mindset about as a permanent feature. Just look at Switzerland (ownership rate of around 34%), could easily see a nation of renters in a generation here too.
  • Matt | 22 May 2013, 07:46 AM Agree 0
    The author of this article has made a tenuous link between the sources used.
    I've read the Raine and horne release and while it does talk the market up, it only talks about the Mermaid Beach and Surfers Paradise markets, not the whole of QLD. These markets are not really the first home buyer markets that Kardash from the REIQ is talking about. They are different price brackets completely.
    Plus, the REIQ itself says that Gold Coast prices increased for the 2nd quarter in a row by 2.2 per cent over March - an omission left out by the author. I'd like to think there is evidence that the market is moving forward in pockets around QLD and the GC would be one of them.
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