Louis Christopher: “Hurdles to hit property very hard”

A good appearance from Louis Christopher at the money-losing machine over at Switzer. Balanced and solidly argued.

David Llewellyn-Smith
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  1. I’ve been reading MB for a long time but rarely comment. It seems that the majority of assessments of the property market are based solely on the price of houses. Whether the stats. use median or average it is only the selling prices that are ever talked about. The amount the person spent on the house renovating or otherwise improving the abode are never considered in the stats.
    The well known show we all know about on TV where five groups spend an effing fortune doing up old houses or units at least pay lip service to the enormous amounts required to end up with “high end” digs in Melbourne or wherever.
    Our mate Martin and other statisticians need to come up with figures that reflect the true figures that would result when all the improvements are subtracted from the selling prices. I doubt that this will ever occur however.

    • Good point. I think the “Hedonic Index” developed by Tim Lawless at CoreLogic tries to take account of these factors. But, as you say, a lot of the commentary looks at houses being bought for X and sold for Y, without considering renovation costs, or compares the median house in Mosman with the median house in Newtown, when obviously it is not the same house.

    • I’m pretty sure it’s been mentioned many times that price is generally expressed through the land component.

  2. innocent bystanderMEMBER

    even Whirlpool has recognised the markets within markets and split their Oz Property Market and Price discussion into multiple threads for each State.
    I went to look to see if what I was seeing in the Perth areas I follow was an aberration. It seems the word hot applies across a wide area.
    The Why and How Long For is still to be reckoned with.

  3. Hilarious interviews with the Brick Pimps at the end of the segment.

    Pallier from Sothebys – property only moves in 2 ways – upwards and sideways.

    What about the Spiv from “Upside Realty” at the end?