#Property #RealEstate #HeiseSays REA is claiming that the end of the property boom was manufactured. References https://www.smh.com.au/business/companies/about-as-bad-as-it-can-get-rea-boss-bemoans-worst-market-for-property-in-decades-20191108-p538ow.html?fbclid=IwAR3UM5jA4C94d67mb3GgVYiBCfXFna6JSrWPb5uCXbzGwRJJl6KajtGhx_E
Tag: Apartments
Luxury Apartments Dropping 25%
#Property #RealEstate #HeiseSays Off-The-Plan apartments at Australia 108 have plunged in value by up to 25%. References ‘Stupidity’: Buyer rues overpaying for apartmenthttps://www.afr.com/property/residential/my-own-stupidity-buyer-rues-overpaying-for-australia-108-apartment-20191106-p537tk?&utm_source=facebook&utm_medium=social&utm_campaign=nc&eid=socialn:fac-14omn0053-optim-nnn:nonpaid-25/06/2014-social_traffic-all-organicpost-nnn-afr-o&campaign_code=nocode&promote_channel=social_facebook&fbclid=IwAR2RHfmc4N00yhv14g7Cg1Eo3rXBmH1klyc25BFpepHcoLrlfpah2hNBqzQ
Faking Auction Clearance Rates
#Property #RealEstate #HeiseSays Advertised Auction Clearance Rates are much higher than the formula Domain claim to use. Let’s jump into Excell and find out what the real Auction Clearance Rate should be. References https://www.domain.com.au/auction-results/sydney/
#Property #RealEstate #HeiseSays 60 contaminated sites have been publically identified in Queensland, including future development sites. References Erin Brockovich sounds alarm over PFAS contamination after more Queensland sites revealed https://www.abc.net.au/news/2019-10-21/erin-brockovich-sounds-alarm-over-pfas-as-new-qld-sites-emerge/11606772
Potential Strata Corruption
#Property #RealEstate #HeiseSays Apartment caretake contracts are creating the potential for corruption. References https://mobile.abc.net.au/news/2019-10-20/markets-buying-risk-but-has-global-economic-conditions-improved/11618474?section=business
#Property #RealEstate #HeiseSays Investor Confidence is apparently growing. References Low rates, strong rental yields boosting investor confidence in Qld
Worthless Off the Plan Apartments
#Property #RealEstate #HeiseSays Off-the-plan Apartments are losing their value in record numbers. References Majority of off-the-plan apartments worth less than purchase price, data shows https://www.abc.net.au/news/2019-10-21/majority-of-off-the-plan-apartments-worth-less-than-bought-for/11613256?fbclid=IwAR0z4c7meB5OaFftnrT-Im2lFdxQVIjZNae3QkLpkb1PDAta9M6sTQOTbAw
Construction Sector Decimated
#Construction #Economy #HeiseSays Australia’s construction sector is slowing down and may decimate the job sector. Once again the RBA was surprised. References ‘Jobs will be lost’: Construction slowdown to leave thousands unemployed https://www.news.com.au/finance/work/careers/jobs-will-be-lost-construction-slowdown-to-leave-thousands-unemployed/news-story/4c43923160ce3c0d5327ff0103abe1c4?fbclid=IwAR2QFIH4si-udcnd3RKZBLgqLKMUXLrTDN7od7sjCl17HCldX_4c1u2NjUQ https://s3-ap-southeast-2.amazonaws.com/sua-gateway-files/Digital-Foundations-media-release-version-1.2.pdf
Inflated Electricity Charges
#Electricity #Apartments #HeiseSays Integrated networks are potentially costing apartment dwellers significantly more for their utilities, but at least the developers saved money. References Residents in apartment buildings slugged thousands to change power companies https://www.abc.net.au/news/2018-07-25/residents-in-apartments-slugged-thousands-to-change-power-supply/10029842
#Certification #Burwood #Apartments A Burwood development has been put on hold due to a court order. Let’s look at the potential conflicts of interest that the certifiers could be faced with due to common procurement methods. https://youtu.be/DZVZpgH6LM0 References https://www.caselaw.nsw.gov.au/decision/5d64c6f7e4b0c3247d71168a