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zaph

Don't be spooked by lower prices

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http://www.courierma...6-1226082611636

Unfortunately, a lot of what we are hearing at the moment is hype and serves only to add to the confusion and doubt already surrounding the residential market. Let's try to clear the air and put things into perspective. Earlier this year we said that residential end values across south-east Queensland would drop, and by as much as 5 to 8 per cent over the calendar year.

For the record, at the same time we underscored the likely potential for many of these losses to be regained during 2012. The reality today, however, is that Queensland might see even further falls before the market rights itself, depending upon interest rates, employment, supply and confidence. How Baby Boomers and recent first-home buyers act and react in the near future is also important.

But much of the current hype is misguided, focusing on asking prices and the difference between what vendors want for their property - nearly always inflated, if you ask me - and what the market will pay. Yes, asking prices are falling.

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"Please, hang to your property, don't sell. It will regain its value really fast. If you do sell, be sure to buy another house straight away and you will see the value of it increase in no time, and you will regain any money lost".

Such dribble. Someone shut the real estate industry up.

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Michael Matusik really is full of it. It is humourous to see that he is still pushing that claim that prices aren't dropping in Brisbane - only asking prices are...conveniently ignoring all the property indeces which use selling price as a measure showing falling prices in Brisbane. Remember this is the same guy that claimed waterfront property (referring directly to the Gold Coast) can never go down in price.

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I've been keeping an eye on a few suburbs that we want to buy in. Asking prices and selling prices are dropping just about every fortnight, some more than 50k now. Some vendors are still delusional, and I'm in no hurry.

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I've been keeping an eye on a few suburbs that we want to buy in. Asking prices and selling prices are dropping just about every fortnight, some more than 50k now. Some vendors are still delusional, and I'm in no hurry.

what area's that in carly, and what price range? if you don't mind me asking?

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what area's that in carly, and what price range? if you don't mind me asking?

Brisbane bayside suburbs. Victoria Point, Cleveland, Thornlands, Alexandra Hills, Ormiston... Priced between 400k - 500k. Ending 2010 prices that were once near the 500k mark are now in the very low 400's.

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Brisbane bayside suburbs. Victoria Point, Cleveland, Thornlands, Alexandra Hills, Ormiston... Priced between 400k - 500k. Ending 2010 prices that were once near the 500k mark are now in the very low 400's.

nice area if you don't need to go to the city too often.

i've noticed the same in the sunnybank area but less extreme. only small changes.

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Funny you should say that. I hardly ever need to go to the city, thank goodness. But I did recently take the kids to the Queensland Museum and caught the train. No more return tickets and it's $15 one way for one adult and two children (third one was too young to charge). $30 is nearly my petrol costs for a week. But, I probably go to the city about once or twice a year. It's not my favourite place.

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Funny you should say that. I hardly ever need to go to the city, thank goodness. But I did recently take the kids to the Queensland Museum and caught the train. No more return tickets and it's $15 one way for one adult and two children (third one was too young to charge). $30 is nearly my petrol costs for a week. But, I probably go to the city about once or twice a year. It's not my favourite place.

if you get a go card the fare drops about a third and you can get off peak fares (which i don't think you can get with paper tickets anymore). but you probably don't use public transport enough to make it worth the bother of getting one.

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