To the Reserve Bank of Australia Governor, Glen Stevens.
Your report this week about the housing price bubble was very interesting, you highlighted that the reasons
for this increase in housing prices was two-fold: cheap credit and not enough dwellings.
Glen, there are five other reasons that are creating this unique phenomena and we’d like to invite you to a
special event that may assist you in the analysis of what is likely to happen in the future with real estate
Glen, you can attend this event for free – just go to the following website:
One more thing Glen, this event was run earlier this year. Ironically it was in the month of March when very
few people, in fact, no one that I know was predicting an upward property swing.
OK, guys – it’s a bit of tongue in cheek – I know.
But hey! If you’re not across the facts, let me fill you in.
On July 28th, 2009, Glen Stevens the Reserve Bank of Australia Governor said, “The Reserve Bank has flagged
the possibility of a housing price-bubble forming triggered by cheap credit and not enough dwellings.” (Don’t worry, it’s not a bubble yet, it’s simply a recovery).
Now, not in Glen Stevens’ report, but from other information that I have at hand – here’s something
A July report from Australian Property Monitors indicated that the median house price nationally grew by 3.3% in the June quarter alone. My city, Melbourne was the strongest market, rising by 5.8% and taking the median to $465,000.
APM economist, Matthew Bell reported recently that now he believes the price-rise will continue well into 2010 (Boy how times have changed in only a couple of months).
Here’s some new information that even shocked me…
You might be thinking that it’s the lower end of the market that is driving this miraculous upward
price-cycle, but here’s a RECENT RESULT that showed up as part of my research…
A South Yarra property, 88 Millswyn St. was sold on Saturday 25th of July for a HUGE 75% above reserve. Quoted at $1.2 million, it sold for $2.1 million. I bet you don’t see that in the headlines of your newspaper.
OK, I know what you’re thinking… Isolated incident. Here’s another example… Same day, July 25th of THIS
year, 49 Ruquhart St. Hawthorn, quoted at $1.4 million – sold for a massive $2.1 million ($700,000 above the reserve).
Again, no major headlines reporting this significant shift in the real estate market that we predicted in
February of this year.
Of course I had help. You need smart mentors around you that help you fast-track your financial success.