House prices
donweather wrote:Definitely been a significant slow down in houses selling from say the SN office down to Mooball. Some places have been on the market for months now (there's a reason for this as they're asking fcking stupid prices).
Agreed. Prices don't seem to have changed a huge amount though (apart from the crazy ones right at the top); it's just the sell-through rate is significantly lower.
Impossible to predict what might happen in the future though. I get the feeling the coastal Tweed region is largely insulated from nation-wide (or even region-wide) trends.
The Lennox-Ballina area still seems to be in big demand for both purchasers and renters.
Appears that there's still a heap of Sydney-siders keen to move up here and continue their interior designing business or whatever, and live the beach and Insta life.
Definitely insulated to a large extent. Prices haven't changed much though there are less properties on the market and they're hanging about longer.
Don and Ben you're probably right about the very top end as well, my neighbour wanted circa $3.3m but no way he's going to get it.
He might have got it at the end of last year but for now it ain't happening.
Sounds like the south west too, overnight/ sight unseen sales dropped a bit but sales still going hard otherwise and not seeing any drop in prices. Not much at all available for renters and even the holiday rentals/ airbnb are already 93% booked for the summer (according to the tourism minister a couple of weeks ago) .
As for the lineups... back to being packed when / if offshore , the backpackers are back (but currently huddled somewhere out of the wintery conditons that continue) , the amount of BMW,s Teslas and other luxury cars with new MR winecountry "local" numberplates sitting on your arse and overtaking wildly has exploded off the chart, effulence and affluence combined.
Distracted wrote:donweather wrote:And these will continue to fall the hardest, particularly once financial stress starts to kick in, combined with the mass AirBNB properties that will have no one in them later in 2023.
Curious to see what happens with Air BnB in longer term. Houses on the MNC are still going for $1000/night over the upcoming Xmas period …. who are these people paying these prices ?!
city folk immune to interest rate rises who benefited from the covid handout rich get richer bonanza.
slight drop off in price in my hinterland area. e.g. neighbouring acreage (nearly 30) went on market for 1.4M about 2.5 months ago. I thought it'd be snapped up within days, but see it just yesterday went under offer for 1.35. Not much difference really. But a few years ago pre-covid probably 800K would have seemed a normal price. Plenty still coming onto the market too, I sense some wanting to get amongst that cash grab before it might drop off more... but maybe it wont drop off big time here, when viewed/marketed as part of the Noosa hinterland...
Re- Byron developments
Seems like there’s enough people with enough wealth in assets to perpetuate this for a long time yet.
Gentrification and neo-feudalism at work
That looks like a nice development
I think that "nice" would very much depend on your point of view.
A nice interpretation of Brutalist architecture.
Taste is subjective. I like it, especially the exposed concrete ceiling. I've done the same in my house.
Looks effing gross to my eye- like a gussied up soviet gulag.
And totally out of character for the main drag of Byron.
Agree with Andy though- I see no reduction in demand or wholesale wealth destruction which might put a ceiling on demand for these developments.
What is the character of the main drag of Byron? When I visited last time in 2020 I felt like I was in Bondi. There really is no difference, it's Bondi of the north.
Demand-wise - so many people want to either live or have something in that area. I cannot see it ever going down.
You didn't see the Great Northern, or Cheeky Monkeys (original building) or the Old Norco Butter Factory, or the Rails or the community centre or Timpo's Corner or The Balcony Building or the old workers cottages or the Bare Nature building (now Spell) still there?
What amazing to me is I can look at a photo of Johnson St in 1960 and still recognise most of the buildings.
I havent been to Byron for almost twenty years.
But i always thought the main drag had a real good feel and vibe and mix of old and new.
I dont know how much the main drag has changed but i hope it hasn't lost to much of its character.
That development looks more Gold Coast than Byron to me, it's not terrible but not great either and its an artist impression so greenery won't look as good in real life.
stunet wrote:A nice interpretation of Brutalist architecture.
Yes. And I really love Brutalist architecture. Basically, this is one of the reasons I use Instagram.
freeride76 wrote:You didn't see the Great Northern, or Cheeky Monkeys (original building) or the Old Norco Butter Factory, or the Rails or the community centre or Timpo's Corner or The Balcony Building or the old workers cottages or the Bare Nature building (now Spell) still there?
What amazing to me is I can look at a photo of Johnson St in 1960 and still recognise most of the buildings.
Yeah, there are some classic buildings although I would argue that people living there have emotions attached to them. And I also suspect they were a lot more prominent in the past. Now there are so many shops fighting for their slice of the pie that one rarely looks at the buildings themselves. Juice bars, coffee, numerous clothing shops, and all sorts of food are on offer. Don't get me wrong, I love it there as there is a lot to buy/eat in a small area. But I don't see it as some 'peaceful oasis' (as it's sometimes portrayed) by any means. It's a busy, shopping/entertainment-oriented area for those who seek that kind of fun. And I really enjoy getting into it a few days here and there. And the mix of people is super interesting as well.
flollo wrote:Taste is subjective. I like it, especially the exposed concrete ceiling. I've done the same in my house.
What the development looks like at face value is one thing, but what it represents socially and economically is something else.
I don’t see much that is “nice”about the latter.
People who live there need to decide on that. I don't know enough about it as I don't live there. What would you like to see developed in this location? What is the exact problem here?
What’s the problem?
Seriously?
udo wrote:https://www.realcommercial.com.au/news/record-sales-prices-for-new-byron...
"The purchasers can live in their apartment for 90 days a year under the Byron Shire planning rules."
Lucky them hey!!! So who's buying this sh1t to NOT live in it? Can't image they're going to get any real rate of return with low occupancy at the prices theyd be charging to stay there.
Did you read the link to the development Don- the answer is in there.
Think of the money you'll save on ceiling paint.
Here's Johnny's tribute to brutalism in Manchester:
My all time loves are mid century modernism in houses (for our extended family lived in/owned a few good examples), and the Australian Fibro beach shack, asbestos and all.
One of the all time internet gems:
Reg knows what's going on:
velocityjohnno wrote:One of the all time internet gems:
Nice one VJ, showed the pic to the Ms, and we both mistook it initially for a friends house (architect designed around the same time) in Ivanhoe
If I was ever going to build new, it would be like that. I'm sure the architects exist with a passion for modernism, who could do it.
Our current place has quite a few cues from this time although built much later, probably why it attracted us: all the passive solar, full length windows, correct way to face, etc etc. I'd love to have the full wood and stone interior fitout like my grandparents' place. Anyway, we do have a carpenter handy lol
udo wrote:https://www.realcommercial.com.au/news/record-sales-prices-for-new-byron...
Looks like they relocated Newcastle Police HQ to Byron
Yeah, I love the modernist style. I expanded that with exposed structural elements and a more minimalistic, industrial look. I totally melt when I see something like this:
https://www.dezeen.com/2019/10/08/ocho-quebradas-alejandro-aravena-los-v...
BTW this area in Chile has quite a few houses like this. They are positioned on cliffs with a lot of space between them. Something funny happened to me here. I was in Chile back in 2013 and a friend of ours took us to his family's holiday house. This thing was amazing, exposed concrete everywhere, top-quality finish, and big windows with lots of light. I was blown away. I knew they liked this architecture in South America as I looked into it before. I remember reading about this upside-down concrete house in Chile and being quite intrigued. And what's funny is that this exact house was on a neighboring property next to my friend's house. We got there at night so I couldn't see anything and when I woke up in the morning I saw this upside down house on the other side of the cliff. I was so surprised and happy. I walked up to it to study it. There was no one around so I couldn't go in but there was no fence and I could study it from the outside. It was incredible, this below is that house.
https://openhousebcn.wordpress.com/2012/03/30/openhouse-barcelona-upside...
velocityjohnno wrote:If I was ever going to build new, it would be like that. I'm sure the architects exist with a passion for modernism, who could do it.
There are some good architects around but it's $$$$
You would like our house, VJ.
garyg1412 wrote:udo wrote:https://www.realcommercial.com.au/news/record-sales-prices-for-new-byron...
Looks like they relocated Newcastle Police HQ to Byron
haha, absolutely. Also reminds me of a couple of housing commission blocks.
https://www.afr.com/property/residential/redeeming-brutalist-architectur...
Harold Holt Swim Centre
:-]
velocityjohnno wrote:Think of the money you'll save on ceiling paint.
Here's Johnny's tribute to brutalism in Manchester:
https://www.youtube.com/watch?v=SXEc9WZ1bkY
My all time loves are mid century modernism in houses (for our extended family lived in/owned a few good examples), and the Australian Fibro beach shack, asbestos and all.
All hail the beach shack VJ, originally a humble everyman dwelling, and generally treading quite lightly on the landscape.
Now we take up every inch of the available land with concrete gulags and call it progress, I guess.
No offence Flollo, I realise it's a matter of taste but I find those concrete boxes you posted above ugly in the extreme.
For those keeping score - NZ just hiked 75bps. Now at 4.25%
The disparity widens further
kaiser wrote:For those keeping score - NZ just hiked 75bps. Now at 4.25%
The disparity widens further
be interesting to see the impact on the property market. Given NZ is leaps ahead of us on the cash rate.
donweather wrote:kaiser wrote:For those keeping score - NZ just hiked 75bps. Now at 4.25%
The disparity widens further
be interesting to see the impact on the property market. Given NZ is leaps ahead of us on the cash rate.
10.9% drop over the last year in NZ. I think I heard that Wellington had dropped 18%, but not absolutely sure.
Thanks for the architecture links and the pics guys, they are awesome! That Chile view looks a bit like South East Cape in Tassie. IB you have shared the locale of your place with some amazing landscape pics, sounds great! And the beach shack - that would be so fun to do. Young one now can pretty much raise a structure like that, roof it, and then clad and fit it, inside and out. It doesn't need to be much, just very basic. I'd also have no internet connection, just the noise of the wind and seabirds and ocean.
So NZ is getting further in front of us? That won't do:
There are apparently some suburbs that are now below their pre-covid price levels:
https://www.abc.net.au/news/2022-11-27/australian-housing-market-suburbs...
campbell wrote:....the amount of BMW,s Teslas and other luxury cars...
I remember the first new Audi or 2 driving past a quiet local spot and telling the Mrs. it's the beginning of the end. She called me an idiot, while she's probably right, I wasn't wrong. Once you get middle aged women exercising you know your quiet slice of paradise is cooked.
ABC report on rental affordability out today, shows the human side:
https://www.abc.net.au/news/2022-11-29/australia-rental-crisis-hits-as-a...
"According to the report, Australians renting in the regions are being hit the hardest out of anyone.
Once a safety net for lower-income earners who couldn’t afford a place in the city, the report shows the regions have suffered under the weight of internal migration, or the “tree changer” phenomenon.
The proliferation of private holiday rentals has also become a major issue, according to National Shelter, with Ms Greenhalgh saying it is a major contributor to the “double impact” of “affordability and supply”. "
I think it will start getting better. I noticed a lot more properties being advertised for sale in an area I'm interested in. And it's not always just about the price but what you're getting for that price. There are some shockers out there but I am seeing a lot more choices. Definitely planning on making a move next year.
Flollo you’d like this joint on Phillip Island:
https://architectureau.com/articles/phillip-island-house-by-denton-corke...
Modernist Australia website is awesome, a shame they’ve ceased sourcing listings.
How'd the US market react to Powell's words last night....BOOM!!! Just imagine what will happen when the FED finally pivots!!!
Mind-blowing, wait another 12-ish months for the rates to start dropping and asset prices will go to the moon!
Joshy2000 wrote:Flollo you’d like this joint on Phillip Island:
https://architectureau.com/articles/phillip-island-house-by-denton-corke...
Modernist Australia website is awesome, a shame they’ve ceased sourcing listings.
What an incredible place. I didn't see this one before. I love how these materials allow you to shape things in whichever way you like. Pushing the laws of physics to the max, I love big cantilevers and massive ceiling heights. I would compare the feeling of this to the one of custom shaping a surfboard. Most other construction methods are just an altered copy of somebody else's house, the same as picking up an off-the-shelf surfboard in the shop. But one can go wild with concrete, these buildings are not just residences, they are a testament to what can be built.
BTW, I follow a lot of random Insta accounts with some crazy designs. Check this brutal bus stop, it's insane.
Wow @ bus stop!
Tantalising promise Fed has begun it's pivot... to tha moon!
Here's more 'reporting' on rentals in Australia, as they say in Pirates of the Caribbean, "Take what you can, give nothing back!"
House prices - going to go up , down or sideways ?
Opinions and anecdotal stories if you could.
Cheers