I grew up in viewbank...parents bought and built for under 30k when I was born. By the time I was 15 people were buying lots of land a block away for 120k. By the time I was 28 I bought a house in Watsonia for 255k, and 2 years later my mum sold the family house for 330k. I was trying to buy for 2-3 years prior to this Watsonia purchase, but prices were going, what I thought of in year 2000, ridiculous. i sold my house a few years later in Watsonia for 375k, and bought a house in Macleod for 500k and sold a few years later for 800k. And now live in an area in Bundoora where houses (it’s a new estate) all sell for 1.2+ mill. And it’s still all ridiculous, and I hate it all (the prices). I could not afford to buy this house I have with my current salary and savings (which is more than i ever imagined)..been on 6 figures for decades now. So how the f..k can everyone else afford these loans???? Back on topic, Heidelberg was always more expensive as it was the end of zone 1, for the train line...which used to be a big deal. Eaglemont was effectively Ivanhoe and is where the Rich (relative speaking) lived. But viewbank was awesome, so many parks...banyule flats. And you are spot on Martin, those areas are all about family and sporting clubs. The parks and Yarra and bike trails. Beautiful area in viewbank...go to Heidelberg and Rosanna you pay more because you are closer to the train stations and shops...but they are over building and it is looking silly...where there was 1 pedestrian crossing there are now 3. A buzz for me, as I love your work Martin, so exciting to see you focus on this area...and as per usual your data and analysis ring true for me, so spot on.
I agree with you, I tried to buy in Yalambie 2-3 years ago. Look up 26 Tarcoola Drive Yallambie. I missed out after offering nearly $1m prior to auction. The guide range was $900-990k. Vendors didn't take the offer and for $1.11m at auction. I ended up buying in Warranwood instead. Which I prefer anyway, but like you I am on 6 figures and cannot see how people can afford today's prices unless like you they bought years ago and just traded up. FHBs are screwed.
Back from a visit to Heidelberg Vic: an adorable suburb, Melbourne 's pride and envy of less fortunate cities! What a name! Fresh memory of Heidelberg in Germany.
Very interesting Martin and thank you for this spotlight on Anzac Day! I live close to this postcode and would expect Rosanna and Heidelberg (in particular) home prices increase once the North East Link Project tunnel is complete...more infrastructure = convenience.
Viewbank is a hidden treasure. You are right Martin, Viewbank is more of family oriented suburb than for investors. Viewbank has one of the best primary school and Viewbank Secondary College. Beautiful suburb surrounded by parks and reserves. I love this suburb. Great show and great analysis, love your work Martin.
Very interesting video. I lived in this area for 5 years and left the state when lockdowns ended. I saw a massive change in Heidelberg as more and more high rise apartments went up. A significant increase in graffiti even on shop front windows, rubbish, attempted car thefts and smash and grabs.
Martin I used to live in 3084 in Eaglemont, do you realize what that postcode encompasses ? Mansions in Ivanhoe and Eaglemont and really crappy old housing commission houses in Olympic Village. How can you draw any conclusions from prices or auctions.
Martin, what your stats are missing is price per sqr metre of land. There have been many subdivisions occurring in these areas, which keeps the medium price subdued.
Lived in University Lodge at the end of Waiora Rd. I had the head matron's apartment. Lived rent free for 2 years while working 2 jobs at the Uni. Still couldn't afford to get a deposit together so took off overseas thinking the market might settle down when I got back. That was 2003 to 2005. Hahaha hahaha. If you don't laugh you'd cry. Boy was I wrong!
Love what you have to say usually, Martin. You keep saying if the vaccine rollout is not rolled out quickly enough that it may affect things. May be there needs to be a consideration of the consequences of quicker vaccine coverage that cause adverse reactions to those that have taken it and may cause more problems that the virus itself. Too many questions re the virus and i hope you could see that Australia has not been damaged by a virus but government actions to this crisis.!
I just brought in viewbank today its absolutely going off what about North East link you don't even mention that why ???. Houses are selling 100-300k over advertised price on a regular basis
If the RBA stays on hold without providing further cash to the banks through the TFF at .10 then the banks will raise rates out of cycle. They have increased their 4 year fixed already, it won’t take much of a rise in rates to crunch prices significantly. 1 percent increase in rates, knocks off 10 percent in property prices give or take.
I think housing has about 15 percent more upside to go. Probably a decade or so of stagnation after the current monetary policy has washed through mortgage approvals and translated into sales. The RBA won’t go negative, and inflation is showing up in the global economy. Higher rates will destroy over leveraged mortgage holders. Stack your cash, and keep your powder dry till this boom rolls over.
So you think the RBA won't go negative? 😂 And if you know your history - property is the only real hedge against inflation. Everyone likes to use Weimar Germany as the poster child, but even they backed their reset currency with property after the hyperinflation implosion.
@@georgekeiser3867 G’day George! No I don’t think they will. The fed gov will go fiscal from here on imo. Could be inflationary. Yeah housing is fine for floating on an increased money supply. I’ll never sell my house for price rises/falls. It’s shelter. But property investment is different, yields are rubbish and will compress even further on higher prices. Capital gains are nice, but cash flows are more important to support leverage. How you been mate?
I grew up in viewbank...parents bought and built for under 30k when I was born. By the time I was 15 people were buying lots of land a block away for 120k. By the time I was 28 I bought a house in Watsonia for 255k, and 2 years later my mum sold the family house for 330k. I was trying to buy for 2-3 years prior to this Watsonia purchase, but prices were going, what I thought of in year 2000, ridiculous.
i sold my house a few years later in Watsonia for 375k, and bought a house in Macleod for 500k and sold a few years later for 800k. And now live in an area in Bundoora where houses (it’s a new estate) all sell for 1.2+ mill. And it’s still all ridiculous, and I hate it all (the prices). I could not afford to buy this house I have with my current salary and savings (which is more than i ever imagined)..been on 6 figures for decades now. So how the f..k can everyone else afford these loans????
Back on topic, Heidelberg was always more expensive as it was the end of zone 1, for the train line...which used to be a big deal. Eaglemont was effectively Ivanhoe and is where the Rich (relative speaking) lived. But viewbank was awesome, so many parks...banyule flats.
And you are spot on Martin, those areas are all about family and sporting clubs. The parks and Yarra and bike trails. Beautiful area in viewbank...go to Heidelberg and Rosanna you pay more because you are closer to the train stations and shops...but they are over building and it is looking silly...where there was 1 pedestrian crossing there are now 3. A buzz for me, as I love your work Martin, so exciting to see you focus on this area...and as per usual your data and analysis ring true for me, so spot on.
I agree with you, I tried to buy in Yalambie 2-3 years ago. Look up 26 Tarcoola Drive Yallambie. I missed out after offering nearly $1m prior to auction. The guide range was $900-990k. Vendors didn't take the offer and for $1.11m at auction.
I ended up buying in Warranwood instead. Which I prefer anyway, but like you I am on 6 figures and cannot see how people can afford today's prices unless like you they bought years ago and just traded up. FHBs are screwed.
Back from a visit to Heidelberg Vic: an adorable suburb, Melbourne 's pride and envy of less fortunate cities! What a name! Fresh memory of Heidelberg in Germany.
Very interesting Martin and thank you for this spotlight on Anzac Day! I live close to this postcode and would expect Rosanna and Heidelberg (in particular) home prices increase once the North East Link Project tunnel is complete...more infrastructure = convenience.
Interesting!
Viewbank is a hidden treasure. You are right Martin, Viewbank is more of family oriented suburb than for investors. Viewbank has one of the best primary school and Viewbank Secondary College. Beautiful suburb surrounded by parks and reserves. I love this suburb. Great show and great analysis, love your work Martin.
Thanks for sharing!
ANZAC DAY! Thanks for the postcode spotlights.
Our pleasure!
I'm living in Rosanna. love it. Lots of parks. Lots of golf courses within easy reach.
Very interesting video. I lived in this area for 5 years and left the state when lockdowns ended. I saw a massive change in Heidelberg as more and more high rise apartments went up. A significant increase in graffiti even on shop front windows, rubbish, attempted car thefts and smash and grabs.
Interesting!
Martin I used to live in 3084 in Eaglemont, do you realize what that postcode encompasses ? Mansions in Ivanhoe and Eaglemont and really crappy old housing commission houses in Olympic Village. How can you draw any conclusions from prices or auctions.
Well put
Different post code I believe...
Martin, what your stats are missing is price per sqr metre of land. There have been many subdivisions occurring in these areas, which keeps the medium price subdued.
Nice job!
Thanks!
Lived in University Lodge at the end of Waiora Rd. I had the head matron's apartment. Lived rent free for 2 years while working 2 jobs at the Uni. Still couldn't afford to get a deposit together so took off overseas thinking the market might settle down when I got back. That was 2003 to 2005. Hahaha hahaha. If you don't laugh you'd cry. Boy was I wrong!
gday Martin,
How are people compelled to complete these surveys? How are they motivated to disclose this information?
Cookie boy sends them some choc chip cookies.
they get paid 20 cents so its the lower class waiting for their bus!
Anything there commemorating the Heidelberg school of artists from the late 19th century?
Ayyy 3085 represent
Love what you have to say usually, Martin. You keep saying if the vaccine rollout is not rolled out quickly enough that it may affect things. May be there needs to be a consideration of the consequences of quicker vaccine coverage that cause adverse reactions to those that have taken it and may cause more problems that the virus itself. Too many questions re the virus and i hope you could see that Australia has not been damaged by a virus but government actions to this crisis.!
Hear! Hear!
I just brought in viewbank today its absolutely going off what about North East link you don't even mention that why ???. Houses are selling 100-300k over advertised price on a regular basis
First Jon Jon keep flowing the cookie 🍪
Nooo noooo nooo marty! I asked for Thomastown and Lalor!
Will Australia increase interest rates like Russia?
Not without tanking the property market.
I think we'll see socialist ideology firmly embraced like Soviet Russia before that
If the RBA stays on hold without providing further cash to the banks through the TFF at .10 then the banks will raise rates out of cycle. They have increased their 4 year fixed already, it won’t take much of a rise in rates to crunch prices significantly. 1 percent increase in rates, knocks off 10 percent in property prices give or take.
@@joshmarks3954 😱
@@joshmarks3954 that never happened bad call
I think housing has about 15 percent more upside to go. Probably a decade or so of stagnation after the current monetary policy has washed through mortgage approvals and translated into sales. The RBA won’t go negative, and inflation is showing up in the global economy. Higher rates will destroy over leveraged mortgage holders. Stack your cash, and keep your powder dry till this boom rolls over.
So you think the RBA won't go negative? 😂
And if you know your history - property is the only real hedge against inflation. Everyone likes to use Weimar Germany as the poster child, but even they backed their reset currency with property after the hyperinflation implosion.
@@georgekeiser3867 G’day George!
No I don’t think they will. The fed gov will go fiscal from here on imo. Could be inflationary. Yeah housing is fine for floating on an increased money supply. I’ll never sell my house for price rises/falls. It’s shelter. But property investment is different, yields are rubbish and will compress even further on higher prices. Capital gains are nice, but cash flows are more important to support leverage.
How you been mate?
SHEIZELBERG! Pffft. melbourne.
First
Second ! 💦
Third