Comments on: Setting the record straight on Mosman house prices (and others too)!

By: Robert Simeon

Robert Simeon — Thu, 11 Mar 2010 05:09:25 +0000

DJ – we are writing about this very topic in tomorrows edition. You are 100 % correct in that it will be a most interesting property market in 2010. Thanks

By: cliff

cliff — Wed, 10 Mar 2010 09:38:35 +0000

The next real question is rates – after every financial/sovereign bailout in economic history we see a significant rise in interest rates…forecasts are for only a few more rate rises this year….but what if we see 7 and a few more in the curve by December 2010….will it matter for Mosman….how many houses have any gearing at all ?? & it has been interesting to note the amount of recent sales being immediately listed on rental sites……investors warned off the share market after their GFC margin call experience and believe that they can’t get margin called on property…..hmmmm….things that make you go hmmmmm. DJ Cliff

By: Business confidence back – government financial crisis still going backwards! | Richardson and Wrench Mosman and Neutral Bay Real Estate

Fri, 19 Feb 2010 00:46:26 +0000

[...] Bay house sales comparison for 2009 and 2008. For this week’s new subscribers, here is the Mosman and Cremorne sales data. It’s not exclusive. All agents/agencies have access, but they don’t [...]

By: Robert Simeon

Robert Simeon — Mon, 08 Feb 2010 06:04:02 +0000

Patricia, “withdrawn” was the dominant word with public auctions in 2009 yet (some) agents kept suggesting public auction! We shall watch the 2010 Mosman clearance rates with much interest where we expect the “W”, “NB” and “PI” to again be popular given that one of the major issues is overvaluing homes from the beginning.

I also predict that the hi-tech online real estate agencies in 2010 will lead the markets as vendors/purchasers/observers all know that this is the future for our industry. Agents/agencies spare the bare minimum on online simply because it has to come out of their pocket

By: Robert Simeon

Robert Simeon — Mon, 08 Feb 2010 05:53:46 +0000

Keiran, Demographia have recently been subjected to a fair amount of criticism pertaining to the methodology applied when arriving at some of these figures. I question the word overvalued given the market is prepared to meet these prices. What many forget is that currently Australia is just one of a few countries that doesn’t tax the principal place of residence so a school of thought exists that this is a contributing factor. I agree it makes for interesting debate.

By: Robert Simeon

Robert Simeon — Mon, 08 Feb 2010 05:43:42 +0000

Martyn, we exported the data from Australian Property Monitors so I too have no idea how they calculate this data. I did the numbers again and your calculations are correct. As they say – “never let the facts get in the way of a good story.”

By: Nicholas

Nicholas — Mon, 08 Feb 2010 04:41:56 +0000

Hi Keiran,

Its all relative. Having been fortunate enough to see most major cities in the World, there is a perfect reason why Sydney is popular and thus expensive.

And for Mosman. Tell me a better suburb anywhere in the World, with what Mosman has to offer.

By: Keiran

Keiran — Sun, 07 Feb 2010 21:42:04 +0000

Any thoughts on the recently released Demographia International Housing
Affordability Survey: 2010 stating that Australia has the most overvalued house prices in the world with 9 times gross annual incomes and Sydney being the second most expensive city in the world?

By: Martyn

Martyn — Fri, 05 Feb 2010 12:42:17 +0000

Robert
You’ve confused me with your numbers.
In the 2009 report you say that 303 properties raised $668.97m.
Surely that’s an average of $2,207,808, not the $2,397,728 you state.
What did I miss?
And how was such an even median of $2,000,000 calculated?

Martyn

By: Patricia

Patricia — Fri, 05 Feb 2010 07:47:20 +0000

Robert…About your point pondering who the actual salesperson is for many auction properties – readers of Domain last year would have seen ‘W’ and ‘PI’ as the majority results for Mosman auctions, so in fact there was no salesperson!

RWM’s website and advertising, for a long time, demonstrate sales methods that are best-suited to the property or vendor’s circumstances, whereas several of your local competitors (two immediately spring to mind) funnel all to auction, often with ‘W’ and ‘PI’ results…and seemingly never ‘SP’.