r/AusProperty • u/ScutumSobiescianum • Dec 03 '25
QLD Absolutely ridiculous.
Completely bonkers this property market. This property up 17.3% estimate in 6 months. I live in an apartment and was flicking through our area to see what the prices are doing. Completely unsustainable and in a bubble. Surely has to crash back to earth
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u/RevolutionGlad1258 Dec 03 '25
Yeah a house I just brought went up about 30k during settlement. Fckn stupid really
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u/thewritingchair Dec 03 '25
Same here. 90-day settlement and prices moved up $30-50K for the suburb. Insane.
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u/iss3y Dec 03 '25
Bought a place in March and it's already gone up in value by 10-15%. Not good as far as I'm concerned
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u/Healthy-Midnight-806 Dec 03 '25
I got a piece of land for 400k even. The next release 2 streets over same size lot is 472k. Maybe 3 months.
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Dec 03 '25
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u/Healthy-Midnight-806 Dec 03 '25
A friend paid 460k in sunny coast for 280sqm the other day. Absolutely mental. And you’ve gotta have a rain water tank in your backyard so you lose whatever backyard you ever had too that. I think with the budget they’ve got they’re looking at 150sqm single home. I was daunted by the prospect of only being able to fit a 210sqm on ours.
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u/Soggy_Media485 Dec 03 '25
It didn’t tho. Forget Real Estimate/CoreLogic. A house is worth what you paid, or what the next person is willing to pay. My house “value” jumps around weekly on real estimate.
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u/ImMalteserMan Dec 03 '25
The estimates can be total fluff sometimes. Years ago a broker got valuations from multiple lenders to see what they said and whether we consider going with them, the value isn't important as my lvr was like 40% but there was like $250k difference between the top valuation and the bottom one and the real truth was somewhere in the middle.
Even now real estate websites are probably over estimating my house by about 100k. In my case it's probably being pushed up by similar size/bed rooms hitting the market and going for a premium but those were much higher quality than mine.
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u/SelectiveEmpath Dec 03 '25
I bought 12 months ago and it has almost gone up more than I made working 9-5 all year. How is anyone meant to keep up at this rate, it’s madness.
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u/Cpt_Soban Dec 03 '25
"Price" is what people are prepared to pay. Most likely it was some bullshit real estate valuer that hyped it up. The REA's want houses to flip as fast as possible- They get more commission payouts that way. People start.... Living in their houses long term? Sales drop.
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u/Conscious-Read-698 Dec 03 '25
If houses like this ever drop to 200k pricing, you'll gave a lot more to worry about than buying one.
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u/dark_mode_everything Dec 06 '25
I don't think OP wanted the price to go to 200k. But it would be nice if it didn't go up by 17% in 6 months.
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u/Conscious-Read-698 Dec 07 '25
True. I took 'crashing back to earth' to mean actual affordability for a median salary.
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u/thewritingchair Dec 03 '25
In Ireland if you bought between 2000-2015 you almost certainly lost money. The closer to peak (2007) you bought, the more money you lost. Some up to 50% loss.
So that's a 15-year period where buying a house almost always lost money. Even today prices haven't recovered from peak (including all the extra interest and so on).
Our bubble has been growing since the late 90s when Howard fucked with CGT and started the toxic interaction with NG.
It's not mathematically possible for bubbles to continue forever. There is no economic bubble that hasn't broken in time.
However, it's very possible to kick the can down the road for a long goddamn time.
This new 5% deposit scheme just locks in more bubble for likely a decade or more.
The baby boomers are stepping off the planet over the next 10-15 years but still have a long tail to go. The youngest of them is just 65.
Within twenty years we'll really have seen the bulk of them head off and their properties inherited by their sixty-year old children or taken in aged care costs.
I know the bubble will break. But fuck, who can know how long it will take. I've seen properties go $128K to $1.28 million over twenty years. That's not going to be $12.8 million twenty years later.
Every time the prices rise, a smaller group can buy it.
Thankfully you can see signs of it changing. Victoria didn't implement their changes because they give a fuck suddenly about renters. They did it because renters are a big enough voting block that it's starting to affect elections.
There's only 2-4% in it Federally too. The rise of Teals and minor parties has a majors spooked, which is why they fucked with member numbers to prevent new parties, and still fuck with donation laws to entrench their war chests.
But it can't go on much longer. No one I know under 45 is hooray capitalism. No one locked out of housing and living in a fucked rental market is chill and happy about it.
But the trigger... who knows. Maybe other countries finally ceasing to buy our coal and gas.
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Dec 03 '25
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u/thewritingchair Dec 03 '25
Ah the Australia is unique and different and we can't learn anything from any other housing bubble anywhere ever.
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Dec 03 '25
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u/naslanidis Dec 03 '25
- Housing Supply Dynamics
- Ireland (2000s): Massive overbuilding, construction vastly exceeded underlying demand, high vacancy rates after the crash.
- Australia (now): Chronic undersupply, very low vacancy rates, construction lagging population growth.
- Population Growth
- Ireland: Low-to-moderate immigration, demand was not driven by population growth.
- Australia: Very high population growth, among the highest in the OECD, migration is a major structural demand driver.
- Banking and Lending Standards
- Ireland: Very loose credit availability, high LVR loans, weak income verification, banks overexposed to property developers.
- Australia: Tight lending standards, strong APRA regulation, rigorous stress testing, well-capitalised banks.
- Household Leverage Structure
- Ireland: High leverage concentrated among speculative and lower-income borrowers, plus highly leveraged developers.
- Australia: High household debt but concentrated among higher-income households with large buffers, with historically low arrears.
- Macroeconomic Foundations
- Ireland: Economy overly dependent on construction and credit growth; collapse in construction caused a broader economic crash.
- Australia: More diversified economy, construction is a moderate share of GDP, strong employment conditions.
- Investor Behaviour
- Ireland: Significant speculative investment in areas with weak underlying demand, many new builds left empty.
- Australia: Investor activity focused in major cities with strong rental demand, extremely low vacancy rates, tax settings favour long-term holding rather than flipping.
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u/Muel91 Dec 03 '25
why wouldnt it be 12.8 million?
You're using the same reasoning as people, when house prices were $30k.
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u/thewritingchair Dec 03 '25
Simple mathematics.
Mortgages require money to pay them. The volume of money required to pay them as the price increases is only held by a tiny percentage of people.
The number of people in Australia who can pay a mortgage on a $12.8 million dollar property is nearly zero. A tiny handful.
The property I'm referring to is a generic house in an unimportant area. It is only inflated by the property bubble and not for some other reason.
So mathematically it can't go to $12.8 million because there are no people around to pay that. And the neighbour can't go for $12.8 million because there are no people around to pay that.
I feel like people really don't understand mathematics sometimes. You can't pay 100% of your income to a mortgage. You must buy food, pay for electricity and clothes. There is a literal mathematical cap in place and yet people talk as if there isn't.
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u/_nancywake Dec 04 '25
Your entire comment supposes that housing in Australia is in a bubble. It may not be so.
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u/thewritingchair Dec 04 '25
You can measure bubbles. One metric is median price to median income. Our radios are well and truly in bubble territory.
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u/_nancywake Dec 04 '25
There are threats to the market - unemployment will be interesting to watch. But there is genuine demand and lack of supply. My property economics degree is dusty, but I don’t think it’s a bubble.
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u/ExpressEggplant5942 Dec 03 '25
Bought my house for 420 its worth at least 800 now in about 4 years lol
Ah well they say the first million is the hardest
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Dec 03 '25
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u/Adorable-Dealer7226 Dec 03 '25
If you use that currency for housing, yes. But $800k is far more valuable on almost all other expenses, than $400k was 4 years ago.
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u/Impossible_Seat2775 Dec 03 '25
Yeah and my wage rose 100% in the same time period, oh wait no it didn't. But somehow we are still expected to borrow 400k more somehow
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u/WrasslinWalrus Dec 05 '25
Correct! Value your house in gold then…. And then value it in gold today… much more accurate than Australian Pesos
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u/Major_Explanation877 Dec 03 '25
We bought ours for 860k three years ago and is now worth $1.6m. Saying that, it’s only worth what someone is willing to pay for it
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u/Tuor-son-of-Huor- Dec 06 '25
Same boat. 480 now 900. Fucking 100% in a few years what the fuck. My first thought when I got the call from the realtors was to sell and go back to renting because that's nutty. Figured I could wipe the debt and have a tidy pot of cash.
But then I looked at rents and hot damn.
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u/sovereign01 Dec 03 '25
You're assuming:
a) It wasn't sold below market price
b) This online estimation tool is accurate.
There are a myriad of reasons a property could have sold for 17.3% below market earlier this year , it doesn't mean it's appreciated that much in less than 12 months.
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u/dispose135 Dec 03 '25
When everyone house is worth a million no one actually is any richer
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u/superfly8eight8 Dec 03 '25
How about the boomer that owns 4 of them?
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u/WhiteChoka Dec 03 '25
Not to mention all those without a PPOR or IP. The logic doesn’t logic, like at all
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u/Stonp Dec 03 '25
While I get you, the typical person has one property, and if their house goes up $500k in value, it’s likely all other properties have gone up $500k. They’ve gained nothing…
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u/superfly8eight8 Dec 03 '25
You can’t really create a straw man argument to fit your narrative.
If all properties go up $500k, then income/asset inequality gets worse and those who don’t have properties are far worse off and those that have are better off.
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u/Pearl1506 Dec 03 '25
I bought below market price due to mortgage issues. Mine is higher then this. You cannot judge from this, you don't know if the property sold below value. Some people default on loans and property gets sold off for less.
Online tool can also be inaccurate.
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u/Rugby_Riot Dec 04 '25
Actually, it’s pretty accurate in my experience. Houses around ours are selling for 10-15% more than they were 6 months ago. You just need to look at the sold history of your suburb
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u/kanzie_blitz Dec 03 '25
Who’s buying?
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u/Rugby_Riot Dec 04 '25
Depends where you live, but in my area it’s first or second generation Australians that have decent income. A lot of IT professionals, DRs, tradies, finance workers
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u/Green-Technology-337 Dec 03 '25
Valuer here. Please stop taking these Automated Valuation Models as gospel.
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Dec 03 '25
So i have been following one particular house I missed out on in August. It’s out samford way.
I have been using this one property as a bench mark to see the discrepancies over time in suspect valuations.
On property.com.au In July it said $1,450,000 In August it said $1,500,000 September it said $1,650,000 October it said $1,594,000 November it now says $1,679,000. What a joke.
It sold mid August well over estimated value It was a nice house overall agent claimed a few lies which I picked up on.
I put in my offer and they ignored me for 10 days until,I emailed them to withdraw my offer they rang and begged me to leave it. I found out later they used my offer to drive Someone else up and lied about figures.it sold way up over my offer and estimated value
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Dec 03 '25
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u/beepbopandbeyond Dec 03 '25
Yes there are lol, that's exactly why this moronic government decided that it would be a good idea for taxpayers to back sub prime mortgages with just 5% down.
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u/UhUhWaitForTheCream Dec 03 '25
Yes that’s impressive growth, but it’s risky to call anything a bubble when these prices are justified by supply and demand. The value of money has been totally eroded (see Aus m1 money supply) and so it’s even possible these valuations could be considered cheap.
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u/beepbopandbeyond Dec 03 '25
Would you call government allowing 5% down backed mortgages natural supply and demand?
Would you call them land locking areas natural supply and demand?
First home buyers grants and other schemes?
Record breaking mass migration?
You must recognize that Australias housing market has been manipulated heavily by our government and does not constitute natural supply and demand!
Money supply matters little if wages are stagnant, you must have enough money in the hands of the people in order for them to afford to buy. We are absolutely at our limit the government knew it which is why they juiced the market again with 5% government backed loans.
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u/ThoughtYNot Dec 03 '25
Those are usually wildly inaccurate
Sold a prop for about $1m, real estate estimated $720k
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u/Rugby_Riot Dec 04 '25
It was pretty accurate for me… got a valuation done a month ago and it was less than $20K off
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u/beepbopandbeyond Dec 03 '25
Yes this bubble will absolutely burst and more than likely in the near term!
Prices have completely disconnected from wage growth meanwhile this government has overseen the largest increase to energy prices in our history and the fastest drop in GDP. Inflation data is pointing to an interest rate rise and many will be struggling to meet the extra cost.
The biggest factor is wage growth decoupling from prices though. It's all well and good for the countries houses to go on a run whilst we have a mining boom and wage increases are booming but that mining boom is now fizzling out as mines overseas are more competitive than doing business at home. Of course Gold and silver will help but iron ore looks in big trouble as mines in Africa and Asia with higher grade ore come online. This government absolutely kicked the can by backing 5% down sub prime mortgages. That can, can only be kicked so far before those suckers are scooped up then what? 0% down?
This market is juiced to the gills and a heart attack is incoming.
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u/ThatHuman6 Dec 03 '25
The can will be kicked far past our life time.
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u/beepbopandbeyond Dec 03 '25
Definitely not true. I'm in no doubt the government can intervene more but there is a limit. That limit normally comes when everything else around it is failing too which is exactly what we are seeing in Australia right now. Government eventually gets it's hands tied in a knot. Example: Can't lower interest rates to help because inflation is already too high, can't print more money because inflation is already too high, can't make a new real estate scheme because we are in too much debt already. You end up in a loop where everything you do to try and help makes something else worse. We are at that point now.
The government can't fictitiously instigate wage growth to match the real estate price growth, at minimum we are on the edge of the bubble and when these 5% down morons are gobbled up we will experience years of price stagnation until wages catch up. Worst case we experience another GFC which looks highly likely and unemployment in Australia goes down the gurgler causing a price crash.
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u/ThatHuman6 Dec 03 '25
house prices have nothing to do with wage growth.
feel free to bet against the housing market, i wouldn’t.
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u/beepbopandbeyond Dec 03 '25
LMFAO, if you believe that house prices will not be impacted from stagnant wage growth and a terrible macro economic outlook for Australia you have lost your mind.
I'm 100% choosing not to buy in this market. It's a massive bubble anyone with a brain can see that. All it takes is a GFC or localized recession, a new government with a brain to stop mass migration and end rent schemes FHBG and 5% down subprime, or just continuing on this current path of separation of wage inflation to home price valuations. I give it maybe another 3-5% growth if it's lucky nationally before it stalls out there are still morons trying to chase this 5% down scheme that need to be gobbled up then it will hit stagnation.
Here is the playbook
Due to this govt spending spree, net zero simping, energy price explosion, and just in general socialism failures.
- We will see interest rates increased early next year to try and tame inflation which is red hot making borrowing more difficult and placing more Australians under mortgage stress.
- We will continue to see massive uptick in secondary home ownership costs energy, water and land rates. Net zero and renewables are absolute failures we can see that in Europe and we are now seeing it in Australia. Energy costs lead to inflation across the board and makes nations poorer. GDP is directly linked to cheap energy, when energy costs rise GDP splutters. These increase costs will see more co living with multi generations under one roof as kids move back in with their parents to share the burden of living.
- Mining downturn - we already lost all our nickel mines when Indonesia/China brought those mines online and the price tanked but we are about to be hit with the same for iron ore and likely lithium too, there are very high grade projects coming online overseas, the first thing that will stop will be growth and expansion of current ore mines we are already seeing this, then when the price tanks we will see low grade operations shutdown. There is a reason Gina Rhinehart and Twiggy Forrest are investing in anything other than mining right now both of them are going into agriculture, clothing companies ect which both are fairly recession proof.
- Next comes localized job losses, and big drops in government tax revenue. The mining iron ore cash cow is now fizzled out, job losses have increased so national debt increases massively which makes it harder for government to spend. Protests and unrest increase as people get mad and start pointing the finger at the government. Governments hands get tied they no longer have money to spend.
- Not to mention any global financial crisis that look long overdue on the horizon.
Our country is headed for recession, inflation is out of control and the juice has been squeezed. Go ahead keep investing in more properties let's see what happens.
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u/Rugby_Riot Dec 04 '25
Sure, younger people with no assets and median income will not be able to buy a house/ townhouse and will be forced to buy apartments or rent. There’s still plenty of people purchasing properties for these ever-increasing amounts. The prices reflect the market.
For the bubble to actually burst, I think we will need to see a lot of job cuts and a serious recession. So many of these cashed up home owners are nearing retirement and have other assets and inheritance coming in the pipeline.
The bank of mum and dad is also propping up the market along with the govt schemes/ incentives
For the bubble to burst we need a massive influx of supply or a dramatic decrease in demand - like when a mine shuts down and impacts an entire town/ city
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u/beepbopandbeyond Dec 04 '25
There isn't an endless supply of buyers which is exactly why this government did the 5% subprime government backed loans they kicked the can down the road and opened the gates to buyers who shouldn't be getting 1 million dollar plus loans. As I said when prices outrun wages by such an extreme amount the buyers who qualify run out. Now the the government changed the rules to ensure the buyers didn't run out too quick under their term but once those are eaten up then what? Next we are guaranteed to have the reserve bank increase interest rates, this is going to cause more mortgage stress but also disqualify buyers as the monthly payments become to great.
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u/AchillesDeal Dec 03 '25
Give it 5 years. The boomers are about to start dying off en mass. And if immigration slows back to where it should be minus the covid pump up, prices should drop. But then again, the government would never let the pyramid scheme fail
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u/MT-Capital Dec 03 '25
Why would it drop, Gen x/y will just come into alot of money and now own a rental or have a place to live.
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u/AchillesDeal Dec 10 '25
Say the boomer owns a property and has more than one kid, how do they split the property? They properties are expensive so it's rare that one person can buy out the other. So it usually will go to sale. More properties for sale skews the buyer/seller dynamic to give more power to the buyers, meaning prices should go down. In hot markets like the northern beaches it probably matters less, but in other areas it should put downward pressure on prices.
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u/RadiantSuit3332 Dec 03 '25
Would you consider moving further out for a cheaper price?
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u/Mediocre_Run_5121 Dec 03 '25
If this is in a capital city, this IS further out for a cheaper price. Like, WAY out.
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u/Hawksley88 Dec 03 '25
Most of these estimates are conservative too. When we were looking they were always wrong.
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u/galaxy9377 Dec 03 '25
What we are seeing is the combination of endless money printing during covid coupled with low supply. The price can go up only till most people can afford.
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u/kewday96 Dec 03 '25
That is a big increase. My house is up 23% in 20 months and my unit has nearly double at 88% increase since 2020. Ridiculous, I wouldnt pay that for either of them today.
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u/alt-cynic Dec 03 '25
I used to think property is a bubble. Then I woke up and decided to buy some. Best decision I made.
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u/Deep-Election8889 Dec 03 '25
I am beginning to doubt the figures and information put out by REIA....I looked up a property last week which sold in April 2024 for $1.45m...According to the REIA site it sold for $4.2million.....🤔🤔 I double checked with the current owner, I was so shocked. I looked up another property I am familiar with, in another state and the REIA site said it last sold in 2005....NO, it has sold twice since then....
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u/Chance_Race8835 Dec 03 '25
Don't start me!!!! It is an absolute mess and huge policy failure by both sides of government at the 3 levels - Federal, State and Local Government.
Federal -Migration has been way too high for too long. Now we Australians are suffering.
State - not enough release of land for development and construction of public housing.
Council - Greedy with approval fees, rates, release of land and poor planning and zoning.
I am embarrassed that we have fucked up the younger generations hope of owning a house.
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u/Big_Measurement_2351 Dec 03 '25
Outside of Sydney, apartment prices are not that bad. Demand for apartments is easing.
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u/Impressive-Treacle58 Dec 03 '25
How I wish everyday for the bubble to burst, so I can have at least 2 BHK
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u/Impressive-Treacle58 Dec 03 '25
Just stopping mass(not all) migration and negative gearing will help everyone except the very rich, but who cares if it’s not a election year
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u/Dramatic_Knowledge97 Dec 03 '25
Seen property prices in London or Hong Kong? It could get a lot less achievable, and perhaps Sydney at least will.
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Dec 03 '25
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u/Dramatic_Knowledge97 Dec 03 '25
Err I was replying to their comment that Aus is in a bubble with an example of how it might not be. Get over yourself.
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u/MiAnClGr Dec 03 '25
Where is this? Brisbane or Sunshine Coast? The prices are moving like that here but are dropping in Melbourne.
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u/AIGotADream Dec 03 '25
I hate how Cotality set these prices and goes on a mini media tour on the 1st of each month.
If you actually look at recent sales in most suburbs these number are a good percentage higher than ANY sales. Then they become the new expectation.
It’s like a tool being used to prop up and accelerate prices rather than being realistic and appropriate.
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u/Exqqquisite Dec 03 '25
Owned a townhouse in Brisbane for 7 months (IP) up 22% of RE, likely get more as units in my complex (renovated) are asking 42% increase on my purchase price. All are carbon copies. Currently settling second IP. Can’t imagine “stagnation/bubble bursting” in Brisbane especially until after the olympics.
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u/Tricky-Classroom-303 Dec 03 '25
We don’t have enough tradies to build house along with migration and massive competition to rent house no TN to mention the building materials we lack to build more houses
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u/CapOdd4021 Dec 03 '25
It won’t be so ridiculous once you’re in. You’ll be the biggest bull, remember that.
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Dec 03 '25
If Immigration stops, prices will come down guaranteed. Australia needs to decide if they really want affordable houses or they don't care about the next generation. Otherwise I can see people leaving and living in other countries, these price increases aren't sustainable.
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u/InTrick8 Dec 03 '25
Can’t imagine there will be a massive drop in prices until supply side is dealt with. The extreme focus and support for demand side pressures will only continue to increase prices.
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u/Berniegotmittens Dec 03 '25
Our property says up $86k since Oct 2024. It’s farrrrrrrrr too small for us, will be fuck all of a deposit when we try and sell to buy something bigger - cos everything else has also gone up $86k, it’s only a win for the banks 😩😩
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u/PhucNguyen1501 Dec 03 '25
People can still pay for mortgages, default rates are low. So no, bubble won't burst.
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u/PassingByeBye Dec 03 '25
I wouldn't call it a bubble, currently it's just too much demand and the market's no where near being able to meet that demand, isn't there a metric where we need to build 2~3 times more houses to actually house everyone
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Dec 03 '25
Put mortgage rates back up to 8-9%. That'll end this, easy..influx of properties on the market, prices will bottom out. Mortgagee sales left right and centre. Wait and see..the govt just needs the guts to do it.
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u/Ok_Concentrate_920 Dec 03 '25
I think the market could very easily crash, given that a large percentage of properties, particularly second dwellings of late, likely fail to meet minimum housing standard. If tenants push back and have repair orders set out by QCAT or relevant governing body location dependent. The rental industry will soon stop being traded as a commodity and actually valued for what it is, a basic human right because there will be no profit to be made because all of a sudden premises need to be maintained at a minimum housing standard, OH NO!!
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u/pennyfred Dec 03 '25
How many people can Asia and South Asia supply to support our governments ponzi?
There's your answer to whether it'll crash.
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u/iftlatlw Dec 03 '25
This next election will centre around real estate investment and construction. Labor have set the scene to continue new builds and reduce demand through lower immigration. It will be patient and controlled, but I expect a multi-year plateau or slight sink in pricing.
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u/AggravatedCelt Dec 03 '25
~33% extra cash printed during covid, so ~25% of all current money didn't exist before 2020.
Money is devalued to make debt cheaper.
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u/Live-Blueberry1911 Dec 03 '25
Every 8-11 years we have a global economic event that hits equity markets and property. That’s the magic time to buy.
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u/Nmnmn11 Dec 03 '25
Why would the so called bubble burst when lending limits get relaxed and the government pitches in free money every time prices go up?
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u/HyperMajoris Dec 03 '25
Look at major markets around the world, it hasn't "crashed" for the longest time, rich people/large fund houses will just hold on to the 100th property. If they panic sale, banks will start calling loans...no sane intelligent person is going start that chain reaction. So no, it will take a lot of interest rate hikes to burst that bubble.
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u/N3M3S1S75 Dec 04 '25
A house over the road from me in outer suburban Brisbane sold for $1,250,000 purchased in 2014 for under $400,000. We have improved our home ++. And would say it’s a better home by far and I don’t feel my home is worth that. How are young Australian supposed to get into the housing market
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u/thrashmanzac Dec 04 '25
I’m pretty sure these estimates are bullshit. We bought our place in 2023 for 720k, the realestimateTM reckons it’s worth 956k now. I just can’t really take that seriously.
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u/Rugby_Riot Dec 04 '25
Mines gone up 12% in the 7 months we’ve had it 🤯 blows my mind to think if we were looking to buy now, it would’ve been well above our maximum. Combo of interest rate cuts and the first home owner schemes
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u/Grouchy-Genzed-7961 Dec 04 '25
Don’t worry. Head to Bali cheap Bintang. Plenty of villas for rent. all good. Crack open a Bintang life is good.
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u/anonymous_DoDoBeDoDo Dec 04 '25
My daughter bought a small detached duplex in Dec last year. Basically they divided the block built a new one down the back, left the old out the front only spilt area is driveway. $615000 ( admittedly she got a bargin)They have done a bit to the place. But they wanted some extra for more Reno's. 3 months later bank valued at 850000. That's crazy.
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u/vegetableater Dec 04 '25
My previous landlord bought our unit for $202k in 2019, and just sold it for $470k. It was a shithole fyi.
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u/Drift--- Dec 04 '25
we built in Perth, 2020/2021. Buying land and getting house built cost us about 550k. Our estimate is now up over a mil.
We're in a good position, not complaining about that, but the situation is fucked, and the problem is we have a bunch of idiots who think it's great their house is worth more now. Those morons aren't considering:
- Higher value means higher council rates
- Higher value means higher taxes when selling
- Higher value means higher taxes when buying
- Higher value means if you upgrade to a larger house, you're going to be spending more.
The only people that benefit from skyrocketing house prices are the assholes using what should be considered a basic necessity as a commodity. If you don't have a property portfolio, rising house prices do not help you.
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u/Moistest_Spirit Dec 04 '25
My house says it is up almost 30% since I bought a few years ago. Dunno how accurate this thing is but that is wild.
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u/1sty Dec 04 '25
Unsustainable hahah…. This trend has been sustained perfectly fine for several years now, with no market settings or policy to alter it
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u/butterbuts Dec 04 '25
Purchased my house in Moorooka QLD for $530,000 in 2018. Done absolutely nothing to it, still in the exact same condition. Took a look last week and market estimate was $1.05million…..What in the fuck
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u/yarrypotter0000 Dec 04 '25
The perpetual immigration point is mute. I’ve seen suggestions of multigenerational living “like they do in south east Asia”. Do people really think these levels of immigration will be tolerated at even more extreme levels without a huge shift in the voting bloc? One Nation are surging in the polls and they will keep surging. So before we import one fifth of the third world, we will get our own Trump/Farage who takes a hostile attitude toward immigration.
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u/potatodrinker Dec 04 '25
Unfortunately a common story.
$618k place on the Central Coast in 2016 is now $1.1m. probably not as aggressive as +20% in 6 months though, too lazy to maths it on the loo
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u/coFF338585 Dec 04 '25
When the GDP of Australia depends on 3 things its no wonder the housing ponzi scheme continues.
1. Resources (Poorly taxed, we could be a resource export superpower, as rich as Saudi, but we're not)
2. Banks (in the form of homeloans, because no one wants to do business in Australia due to tax and energy price)
3. Agriculture.
So if you were either of the 2 inept government major parties we stupidly keep voting in. Of course you want to see property go up, that means more homeloans and GDP up.
To further this and ensure its locked in on the upward trend. You massively increase demand... For this you need immigration to be as high as possible.
Welcome to 2025. Its only going to get worse until they reach agenda 2030.
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u/Peter1456 Dec 04 '25
The question isnt if its a bubble, leta say it is for arguments sake. Its if you can put your life on hold long enough to capitalise on it.
Perhaps if you re a vampire but for most people we need a house at stages in our lives unfortunatly. Usually every 10ish year there are significant life stage changes that forces your hands.
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u/former-child8891 Dec 05 '25
My wife and I (37yo) built in 2016, our 4 bedroom/1.5 bath house has doubled in value in 9 years.
Never selling, plan is to give it to our kids when we retire. I grew up in public housing and I'll never have my kids worry about losing the roof over their heads.
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u/Any-Scallion-348 Dec 05 '25
Doubling in 10 years, is that suppose to be impressive?
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u/former-child8891 Dec 05 '25
I thought it was pretty outrageous actually. Affordability is looking pretty grim for the next generation.
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u/Any-Scallion-348 Dec 05 '25
Then go vote for someone who will tank yours and everyone else's property price. Chances are you won't.
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u/Curd-Nerd69 Dec 05 '25
House on my street sold for 412k in 2011. 501k in 2017. In six years it only increased by 89k. Sold again a couple days ago for 912k. In eight years it gained 411k in value. Absolutely bonkers. The house has had no work done besides a fix to the front verandah after a car caught fire. But it was repairs, no improvement.
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u/ize30 Dec 05 '25
I bought in 2017. It’s gone up 125.9% since last sold. Absolutely ridiculous. Would never buy the house for what they say it is now.
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u/Noodlebat83 Dec 05 '25
My house is estimated to be worth about $650k. which is absolutely insane. it’s falling to bits, in one of the shittiest suburbs in Australia. You would literally need to spend an additional $150k minimum to gut it and rebuild to have it looking really nice. It blows my mind and honestly it’s sick.
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u/Levethane Dec 07 '25
10% of the population have become ridiculously rich because of this stupid boom.
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u/followthedarkrabbit Dec 07 '25
My house did this. Went up $50k in the first two months I had it. Would have been out of my price range if I had have waited any longer.
Value doubled in 5 years. I know how privileged I am. I also know how close I was to missing out completely. Took 18 years for me to get a deposit, and all I had was a two month window. Even skipped meals to keep my mortgage at times. Also, cant sell and get anywhere cheaper as its still one of the cheapest houses available because it's rural.
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u/[deleted] Dec 03 '25
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