House Price Insanity in Regional Queensland, Australia
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- เผยแพร่เมื่อ 18 ต.ค. 2024
- House prices have been going crazy of late in Australia, but not just in the big cities, but also in regional Australia.
Books on the Housing Bubble ▶ ebay.us/KLrDRa
In this video, I talk about a couple of the experiences I’ve had in recent times regarding the crazy house price market in regional Queensland. It became so frenzied, that some people were will to forgo physical house inspections and instead make offer on houses they’ve never seen! Have people gone insane?
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#HousePrices #Australia #RealEstate
Exactly right - Crazy insane house prices!! And by 2026 when the bubble has burst, interest rates have gone back up there will be a lot of over capitalised people who can’t sell their house for anywhere near the price they paid for it, if they wanted to - this market cycle is easy to see when you search sold properties and see some horrendous losses in past years
Agree about 2026 Hannah
The radical drop in people searching for sale prices is because people searched and then when they saw how utterly overblown the market is now, with greedy sellers just being outright ridiculous in what they are asking, people have lost all taste for the market and don’t bother to search. Most anyway.
Insane. And governments will do whatever they can to sustain this stupidity. How on earth are our children ever to afford to be able to buy a house? Governments prefer to ship in cashed up buyers from Asia rather than let house prices settle to a level where our our own Australian born children will be able to afford them.
It really is insane. Chinese buyers will pay cash upfront, real estate agents and sellers know this and use the opportunity to auction properties using average Australian’s to drive up the value. Obviously this drives up property values across the entire market, which means when Australians do find a property to buy they’re having to borrow even more money from the major 4 banks, who own just about every politician in Canberra and maintain this by lobbying through the Business Council of Australia. We are getting seriously fucked by the government. They’ll sell us all down the river and then sell the river to the Chinese.
@@gullyfourmyle6825 So are you going to get on board or keep whinging and fall behind??
Fun watching an older video. Can only image how absurd these prices are now. Many of these affordability problems in Australia are also here in Canada too.
With those insane house prices you'd think we are living in Hong Kong, but no, we live in Australia, the biggest island/continent in the world, where housing is treated as an asset instead of a place to live.
Most realestate people have lost there mind in south east Queensland when it comes to housing. The place is so over priced it’s ridiculous.
Yeah Toowoomba is weird with its property price considering how rural it is but it is quite an affluent and wealthy town. So that is why the prices are so high compared to other rural towns.
People will hate me saying this but they need to put up interest rates to bring houses back to what they are really worth
Meh, More tightly regulate access to loans and mortgages. Let people only be able to pay with money they actually have
That won’t do it
@@heatherhall3452 You really have no idea what you're talking about
Nah just end immigration, simple as
Same here in nz. We see alot of properties selling for over 200k above RV or rateable value. There were over 100 new sections went up for sale online and were all sold within a few minutes. Most new sections are being bought by building company's and when the houses are complete they are selling them not at the build value but what RV is and making alot of capital on them. Most existing houses in our area have a sold sign within 2 weeks of the sign being put up! It's madness! Good luck on your first house purchase mate, Cheers
Good to see that your uploading again
Now it is offers over 600,000. Still for sale. That is ridiculous.
Serves him right for being a greedy person. Hope it stays on the market for much longer. Regional prices should never be higher than suburban Brisbane, unless it’s a mansion.
That's amazing you actually get a reply from the agents when you make a offer.
Covid19...the pandemic where the population actually increases and as such so does the housing prices. The houses you used as an example are probably owned by the same Chinese group that owns properties in many other first world nations and do the exact same thing. Many cities and even smaller towns have increasing amounts of properties unoccupied and owned by Chinese.
It shouldn’t be allowed, if you don’t legally live here for 10 years + you can’t buy a house here 😑
frankly, its better to accept that like medieval serfs of old, we will never buy but rent.
I suppose it depends where in regional QLD you looked a quick search of Roma which is inland found nice newer 4 and 5 bedroom homes for $330,000 to $400,000. Toowoomba is the same many 3 bedroom houses for sale in that price range.
The foolish part is the people that see great value in these prices and they always only go up. Hang in there, things will work out. Just think you are free to live where you want.
Watching some property shows on here and a data analyst was saying prices are going up 10K a month so now in order to get in on a property settlement is now going to 7 days you have to have finance preapproved and get due diligence quick smart as a 30 day due diligence and another 30 day settlement is out of the question you will be gazzumped as the price of the house will go up 20K by then. Places in Gympie are going for $600K+ so surprised Toowoomba areas is not more. Those who would in the past live in Nambour QLD have to move to Gympie to afford a place. There's still cheapish housing in west or north of Toowoomba but then your out in the sticks there!
Something is only worth what someone is willing to pay.
Wrong. It's worth what the bank is willing to LEND.
Bought a house in 2011, while working on another continent, it's rented out and my parents manage everything. Haven't seen it yet inside and it is 2021 now, but the tenant pays reliably every month.
good rant
What was in the garage that the owners didn't want me to see?
Meth Lab
For a serious answer, they probably put many of their personal belongings in there so it wouldn't clutter up the place for the open house.
But yeah probably a meth lab.
Probably the owners “gauging the market”
Serious foundation issues, plumbing leaks, damp issues????
Sex dungeon
I was planning on moving to regional Qld last year but it was already out of control.
Very nice. Great content. Well executed.
If no property correction happen people need to start protesting in the streets
Unfortunately the situation is out of control, another economic crisis is the only solution to this horrible situation: increasing the interest rates and regulations won't change much in the house prices.
Unfortunately, the powers that be love high house prices.
It is unsustainable and unsustainable phenomena will always meet their Waterloo, no matter how hard the wizards of the finance industry incant their dubious and esoteric spells upon the people and the economy.
How crazy are those prices. Are people just fishing or realistically want a sale ?
We put $425,000 on our house we paid $253,000 for 11 years ago, only done a driveway & shed. Market is BS crazy, so may as well cash in.
Will be buying 5 acres 4 hours north for $400,000, the fuck away from people
Offers above, shouldn't be allowed. You have no idea what they actual chasing. Bought first home 2016, pretty much ran around like headless chicken trying to figure out what they actually wanted. One time they knew I couldn't afford it, but they just using my offer to make the other party raise the price.
My grandmother has an empty house for over 10 years, I asked her if I could pay rent and live there she said no
anything I can do? that shouldnt be legal to keep it empty
her property unfortunately, perhaps get friendly with her and then give her a little help reaching the next life wink wink
Unfortunately this is the new normal.
Smells like inflation
Agree
If you don’t agree with the asking price walk away, no point trying to bargain in a hot market. Not saying the market makes good long term sense, but it’s value is what somebody will and can pay. If you can afford to buy stop torturing yourself!
If it was food prices, nobody would accept it. But for some reason, society says it's okay for the "market" to dictate the prices of houses, even if it's hurting people. Unfortunately the housing market is incredibly controlled and manipulated by the powers that be (through HomeBuilder programs and tax breaks and so on), so it's hardly a natural market.
@@DailyInsightAU So are you going to get on board or keep whinging and fall behind??
The next time that you can buy your house for $450000 , unemployment will be at 15% and interest rates will be at 10% For sure it could happen but will you be eligible for a mortgage ?
Plenty of homes for $450k all over the country.. even if u dont move in to them, research "rentvesting"
Just saw your clip from 2 years ago “Hobart Property Boom Over”. House prices in Hobart have increased 20-25% since then. 🤣🤣🤣
Yeah, well, I doubt anybody could have predicted the state of 2020/2021.
@@DailyInsightAU That’s my point. Your title “Hobart Property Boom Over” is purporting to know that the Hobart property boom is over. Like the share market, no one can accurately predict the short or medium term property market. Your prediction was wrong and a bit foolish really. I note that you appear to have removed the clip.
Very true
We had the same experience in Perth 10 years ago, 4 years later property tanked and has been steadily declining since (it has since reversed a little thanks to the stimmy run).
Xav
Brisbane, Gold coast, sunny coast will outperform Perth just because it's on the eastern side and closer to Sydney. Plus it's closer for New Zealanders
2 years later, what can i say
Mate look at Townsville. Much more realistic prices.
I'll keep that in mind.
@@DailyInsightAU absolutely you should. Get yourself a cute little 4 bedder in a blue chip family suburb for 400K. Small mortgage and smash the mortgage and then ETFs and super. Done. Retire early.
@@DailyInsightAU Did you get check it out big fella? FNQ in general is a good option for first home buyers. Can shave years off your working life.
@@dannyn6762 400k is bluechip?
@@joshuahanley1095 in Townsville yes given the medium house price is 320s hehe. But that 400 entry level house in a bluechip suburb is now 450 plus but still plenty of good deals and STILL very cheap compared to other comparable regions.
I dont know if this is just a country thing but those prices arent that terrible compared to other houses here in germany
Since this video, the prices have become worse.
Just can't wait till all these crazy people paying crazy prices watch the mortgage value more than the property they now hold. Don't cry, blame the FoMo team at Parliament house 😂
600,000 for a house in Melbourne? think you're still dreaming
Yeah, you're right. It's hard to keep up with the insane Australian house prices.
I thought you were from NSW mate doing IT. I understand QLD is a more attractive affordable area.
But I think VIC would be a better alternative if you work in IT.
Victoria- Melbourne is a shit hole! Freezing 🥶 Yuk 😖
@@heatherhall3452 true but at least the streets are not a maze like sydney.
Melbourne and perth seem to be the only cities with simple straight forward roads.
@@heatherhall3452 I have agreed with nearly all of what u have said Hannah, especially this!!!
If i were in IT ,considering the shift toward flexible / remote working arrangements, id be all over S.E QLD !!!
GET IN NOW WHILE YOU STILL CAN!! Real estate ALWAYS goes up!!
Interest rates have never been this low! Buy! Buy!
What seems expensive now , will look like a bargain in 20 years time.
Correct, unless , for some reason, the next 20 yrs defies all recorded history
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Despite all the economic crisis this is the right time to start up an investment
I wanted to trade cripto but got confused by the fluctuations in price
That won't bother you if you trade with a professional like Mr Jason
I heard that his strategies are really good
Yeah
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Sorry mate - I’d disagree with overall thinking and mindset here. World changes and doesn’t stay static, and expecting world to stay inline with what we thought as norm is insanity .. accepting new reality isn’t insanity.
Using historical sale price to make an offer is really a super rudimentary approach. And using online predictor to make an offer is even more “out of touch” from reality approach.
During pandamic late 2019 and early 2020. When prices had slowed and everyone was scared to spend money some buyers like me bought properties. I bought 3 houses of average value ranging from 750-800k. Today, there are buyers off the market willing to pay on average 1.2-1.3M for these properties. I’m not selling now or anytime soon. I know due to quantitative easing fiscal policy in Covid, next 5-10 years are of high inflation. Prices may fall now due to interest rates but real Property Increase will happen 2025-2028.
Interesting take. Thanks for your comment.
Agree
@@nev-lj7tb I’m professional investor who crunches peta bytes of data by using most Sophisticated data engineering technology available. I make living by finding trends, patterns to ascertain economic forecast.
I actually haven’t watched TV in last 15 years. 😀
What’s the point of this video? You’re explaining property prices going up. You’re so out of touch lol
I had a point?