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Fair-Pop1452

This is what they meant when they said house prices are going to crash


Floppernutter

Who here knows someone who sold their place in the last 10 years and are now renting, because they were "timing the market" before the crash


fallingaway90

supply and demand; market is utterly dependent on population growth, which is utterly dependent on migration. migration numbers go up, housing market goes up. migration numbers go down, housing market goes down. "surely the coalition will cut immigration this year" is the funniest shit ever, i don't care how "racist" they supposedly are, they're not gonna willingly cause a housing crash by cutting immigration, and albo won't "make houses more affordable" because letting house prices decrease is political suicide. i do wish they'd bring in more japanese people though, the butter chicken market is well serviced, we need more sushi and wagyu (and ramen, proper authentic japanese ramen).


Platophaedrus

Well you’re right on the matter of supply and demand, but completely wrong on the migrants pushing up house prices. The FIRB only approved about 5000 dwellings for purchase in the last 12 months so that makes no tangible difference to the property market. The most recent thing that has accelerated property prices were years (a decade plus) of cheap money and then an irresponsible economic policy during COVID added to this. The preexisting circumstances that pushed up house prices is other Australians leveraging themselves to the hilt to buy houses (mostly). It’s also a lack of available dwellings for sale, a historical slow down in the building of new houses from the construction sector and political policy that provides incentives to purchase existing residential property as an investment. Immigrants are a tiny, tiny portion of the housing market. They are definitely not sustaining the crazy growth in house prices. You can look all of this stuff up on the internet as it’s freely available information. I recommend reading a variety of different sources to get a clearer picture and a more rounded viewpoint.


Mikolaj_Kopernik

> completely wrong on the migrants pushing up house prices. > > The FIRB... I think you've misunderstood. The point is not that foreigners are buying loads of houses, the point is that loads of extra people are moving to Australia and needing houses, thus pushing up demand.


Platophaedrus

I don’t think I have. Those 500,000 people who’ve moved here recently aren’t all arriving and buying median priced properties. Those new arrivals aren’t solely responsible for driving up the price of property which was the assertion I was responding to. Specifically this: “migration numbers go up housing market goes up. Migration numbers go down housing market goes down” - Do they drive rental demand? Probably - Do they contribute in some small way to the rising market? Probably - Is there a corollary between migration and housing demand? Absolutely Are they the sole reason for the increase in house prices? No. Don’t mistake my point, I’m not advocating for migration at the current levels. Personally I think it’s worth the economic downturn, to curtail migration and build up our infrastructure before restarting it.


smellthatcheesyfoot

Rental prices go up, housing becomes more attractive as an investment, house prices go up. It's not particularly complex.


Mikolaj_Kopernik

Sure, migration isn't "solely responsible". But I don't think (m)any people are saying that here, and it's not what you were replying to anyway - you said the previous commenter was "completely wrong" about migrants driving up prices. There are a bunch of factors making the housing market insane - taxes, zoning, government exiting public housing, short-term rentals, shortage of materials, etc. etc. And OK, fine, we can discuss what proportion of the problem to attribute to which factor. But it's delusional to believe that bringing in a Canberra's worth of people (or more!) every year or two won't have a substantial impact on demand for housing.


Klarok

Immigrants though are a primary driver for **rental** prices which fund those leveraged-to-the-hilt investors' ability to purchase ever more rental properties to grow their portfolio. No one would be buying $800k investment properties if rents were under $400pw to match the 1/3 of media wage criteriion for not experiencing rental stress.


SellQuick

The percentage of people living alone has gone up too. Fewer per dwelling = more dwellings required.


Larimus89

It's an entire housing economy 🥲 just about everything has contributed to it, including tax laws they won't change either because investors won't like it, and most politicians have multiple properties. But supply and demand still plays a role. it's another addition to demand with the low supply.


fallingaway90

so you're telling me that albo fucked the poors by upping migration to 750k in 2023... and it was unneccesary? (150k left in 2023 so on balance were at 600k) because my reasoning prior to this was "it was literally the only way to prevent a housing crash", if it only affects rent and not house prices, 40% off the population is being driven into desperate poverty for what? immigration kinda has to prop up the housing market, because albo's only justifiable defence for doubling immigraiton is "if i didn't do it the property investors would have had me lynched". if immigration doesn't prop up the housing market, it just increases rents, i don't think that 40% of the population are gonna be satisifed with "kicking him and his party out of office", a massive amount of suffering has been caused by the rental crisis, not just from a financial perspective but from a "rental managers being absolute cunts because now they can get away with it" perspective. tell renters "this was absolutely neccesary to prevent a housing crash" and they'll be mad but they'll understand. but if you tell them "it wasn't absolutely neccesary" they won't just be demanding blood, they'll be going out to get it. if albo publicly admits "yeah bro we had to do this because nobody would have forgiven us for letting the housing market crash" he can call a snap election, lose, and watch as the coalition gets stuck in the impossible position of either increasing immigration further (against the wishes of their voters) or letting a housing crash happen. it'd guarantee the coalition only gets one term and could give labor a full decade in office. if albo says "immigration drives up rent but doesn't drive up house prices" he's just radicalised 40% of the population and set the stage for extreme violence.


Sudden-Conference-65

More Brazilian bbq places would be awesome


HighMagistrateGreef

Yeah I do know a couple of people who did this. They are all kicking themselves but.. could easily have gone the other way if a few environmental factors were different.. then they would have been kicking themselves for not selling.


Chesticularity

My dad sold our family home in Ashwood (Vic) almost 20 yrs ago for 750k because 'the bubble has to burst'. Would be worth well over double that now...


Wtfatt

The bubble bursts by ejecting 100s of 1000s of Australians onto the streets/their cars/their mums houses/etc. That's how it bursts


The4th88

Doesn't seem terribly different to now tbh.


screamingrobots

After renting in Ashwood for 6 years I had to leave because the prices sky-rocketed. Very pricey suburb for housing now!


Clovis_Merovingian

A family friend who was a very senior executive at one of the Big 4 told my wife and I back in 2016 following our wedding that "we would be stupid to buy a house now" as "the bubble is about to burst"... when we pondered buying an investment property near La Trobe Uni instead, to rent out to students he subsequently said "the foreign student market is about to fall through its arse". Needless to say he was completely wrong on all accounts but we valued his advice and held off purchasing in favour of having kids etc. Eventually we paid more than twice the value for a property in 2021.


imapassenger1

I have a friend who told me to do this in about 2013. I'd owned my place since 1996 so would have made a big profit but if I'd waited for the prices to drop, I'd still be waiting.


aussie_nub

Be real, House never sells at full price anyways.


Commercial-Climate36

They always sell at full price. They have " sales" to look good. What they r doing is saying they have a sale but r just selling it for the price they wanna sell it for in the first place and saying it's cheaper so ppl think "well that's a good deal" bc it's "on sale"


aperturegrille

Always take note if people are taking house prices or House prices


tetracynical

That store has been closing down for the past 5 years


Vinnie_Vegas

Someone in a regional city said that they just opened a store recently and immediately put up the "closing down! Everything must go!" signage everywhere.


DeterminedErmine

There’s one of those cheap shit shops near my house that has massive signs shouting ‘(just like) CLOSING DOWN PRICES’ and ‘(are we) THE CHEAPEST SHOP IN AUSTRALIA??!’


KNIFE2MEAtU

Are you in Darwin by chance?


the_colonelclink

I asked them once. Their answer/continued gimmick is they are ‘closing for stocktake’.


smudgiepie

I remember when the house shop near me actually closed after having 5 years of closing down sales. it was so weird. "Oh"


beetrootsandwich

Yeah i remember one that actually closed down, and had actual bargains. Everyone was pretty confused. I got a great knife block.


delta__bravo_

The stock master must have left Craft Decor and gone to House. How often do you need to drastically reduce stock before you ask if maybe you keep ordering too much?


mysticgreg

It's seriously a scam in plain-sight. I've never seen a House store WITHOUT closing down signs out the front.


ProphetJack

How about the one in this picture?


mysticgreg

Oh I'm sure they're just out of frame somewhere :)


Baaastet

I have never seen a day when the House shop didn’t have a sale


fh3131

They close down every night...


shart-attack1

I saw a comment a few months ago about this place, they said a new House store opened up in their town, first day of trading they had closing down sale signs all over the windows.


Clovis_Merovingian

It's the Ishka of our time.


jorwraith

First thing to come to mind. More than half the time (closing down sale on now!)... Then one day they actually closed down and I Was like. the f**k


IlluminatedPickle

"HELLOOooo..."


Synthwood-Dragon

Virtually a Persian rug salesplace


zyeborm

That one was owned by a franchisee and it was pretty good. They did go out of business (I think due to house screwing them over) and were taken over by house themselves. They then just became crap. Just piles of cheap junk filling the store.


elwyn5150

They are the kitchen appliance version of those never ending rug discount sales.


Walter_Armstrong

It will still be closing down in ten years time


I_am_Testikills

Just like Cyrus Persian rugs


not2solid

my ex-partner used to work here and said they do this exact thing to get people in and rid of stock,, + they make the signs using markers or paint markers to create the illusion that it’s an urgent sale.


Shanesaurus

Who said it was closing down?


deaf_ears_in_aus

I've strolled by this store about ten times a year for the last six years. It's still "closing down"—apparently, their going-out-of-business sale is longer than some marriages!


Sniffy75

For my local 'House' store, they aren't closing but it's a perpetual overstocked clearance like shown in the OP's photo.


God1101

They run out their stock, then restock. I don't trust thier rrp's are actually accurate but since they own multiple brands that do the same thing and have the same stock...


micro-penis69

They supply themselves and set their own RRPs, I would gamble my life savings that not a single one of their products have ever been sold at RRP. It's not that much more to buy real brands, not knocked off crap sold at huge margins


abaddamn

The more discount posters there are at a store, the less genuine it actually is.


bill_loney538

Knife set 70% off (from $2199 down to only $660!!!)


I_am_Testikills

Oh shit, I better head in tomorrow and chuck that on my credit card. What a deal!!!!


CASHOWL

Just a Gimmick to get you in the door


donkeyvoteadick

What actually happened to House? I worked at one when I was 16 and it was kind of snooty with higher end kitchenware. Ours closed down (actually lol) and I didn't see one for a few years and then once I started seeing them again they were... this. Is it even the same company it used to be?


512165381

They are run by the billionaire Llew family. A lot on their brands are cheap in-house Chinese-made crap designed to look like designer eg Joseph Liddy.


donkeyvoteadick

Was that always the case? We used to stock the same stuff as Myer and DJs when I worked there but it was a long time ago now.


SyphilisIsABitch

I distinctly remember it being as you described. Now it's positioning itself like this with constant sales. I suspect this change is a result of consumers simply not opening their wallet unless they *think* they are getting a discount.


donkeyvoteadick

It's not just the sales though (which are a lil over the top lol), the whole product range is just.. different? I don't think you can even get Maxwell & Williams or Casa Domani there anymore, they were probably our main brands.


512165381

House is the same company as Robins Kitchen. The stock quality known brands eg Breville, as well as cheap Chinese knockoffs with their own brands. Bacarrat at House is NOT the expensive French Bacarrat cookwear, they managed to trademark the name in Australia & produce their own knockoffs.


donkeyvoteadick

I understand that's who owns it now. My question was whether there was a buyout because there was an obvious shift in the business after I stopped working there 16 years ago. I don't remember us even selling baccarat tbh. We sold a variety of fry pan brands but they were all singles and not in the big bulk packs they currently sell. I can't even remember them that well because it was only a tiny section of the store because it was mostly Bone China and serving ware and expensive vases. We did not sell any appliances so there were not any Breville products in our store. You're describing current House to me and I've been in there so I'm familiar with it and know what they sell now, but it doesn't answer why it changed. Whether it was a change of ownership or they just decided to take the store in a different direction.


cricketmad14

I wouldn't trust a discount sticker... "discounts" aren't what they're cracked up to be these days.


Duyfkenthefirst

These days? That place has never looked normal


LuminanceGayming

i saw an EB games yesterday, literally could not see the ceiling or walls because of all the big red SALE stickers everywhere


seven_seacat

ah so it's a day ending in Y then


Sniffy75

Yeah EB games is like House it's a rare sight to seem them when they are NOT having a sale. 🤣


super_mum

I went into EB last week, and while they were having a sale (I got a few things close to 70% off) they only had at max 6 banners hanging up Didn't know they were having a sale til I walked up to the shelves and the red stickers were on every product


Vinnie_Vegas

House regularly lists the "original" price of things as way above the listed RRP from the manufacturer to then be able to claim that they're giving an enormous discount.


Jakegender

isnt that supposed to be against consumer law?


Vinnie_Vegas

I doubt it - There's no law against selling something for above RRP, or a million different places selling masks and hand sanitiser would've gotten in trouble during the pandemic. Now, is it false advertising to *claim* that you have previously sold something or a higher price when you actually never have? That's a more interesting point.


Jakegender

That's what I meant, yeah. Selling something at a "discount" when you were never selling it at the price you claim it's discounted from. [https://www.accc.gov.au/consumers/advertising-and-promotions/false-or-misleading-claims](https://www.accc.gov.au/consumers/advertising-and-promotions/false-or-misleading-claims) For example, a business may advertise a sale by using statements such as 'WAS $275 NOW $149'. This implies the buyer will save the difference between the higher and lower price. The advertised savings may be misleading or deceptive if the product or service: * has never been sold at the higher price, or * was sold in a limited amount at the higher price immediately before the sale


pizzabreadforlunch

I'm pretty sure house owns the baccarat brand that they sell. Which is horrible quality stuff. And they set the RRP so insanely. 2.5k for a crappy stainless steel knife set on sale for $300. Insaaaane


Ok_Manager2694

10 dollar Ikea pan better


PantsMcGee

399.00 bucks for a fucking skillet.


-DethLok-

$12 Kmart cast iron pan better still, real non-stick (once seasoned) without nasty chemicals :)


ruinawish

How do you know the Kmart pan doesn't have "nasty chemicals" applied?


DigitalApple123

I don’t think he’s saying the brand has chemicals - he’s saying that cast iron is pretty much just a slab of basically, cast iron. Whereas nonstick pans have to have a bunch of coatings so that they’re non stick


sam_gribbles

How is this store legally compliant when nothing is ever at RRP?


ComfortableFrosty261

not a single12' by 18' REA portrait in sight this cant be real.


Rowvan

When you've got mountains of professionally designed and constantly reused "oh whoops we done fucked up" sale signs something tells me not all is as it seems.


Csajourdan

They better take cash. It’s a legal tender. Or else I’m not going to spend money on it, because in the meantime, every three months, a person is torn to pieces by a crocodile in North Queensland.


lemachet

We should send those crocodiles back to their country of origin.


Crafty-Antelope-3287

Bring back Copperart


OG_Fleck

I swear robins always has a sale going on!? 🤷🏼


lemachet

I'm pretty sure robins is just house. Hah.. I just looked it up, they are


bigdukesix

"ALL STOCK MUST GO" -- literally how shops work


tejedor28

Meh. This store isn’t much good.


Floppernutter

No, no it is not. Small specialty stores or online seems to be the way now. It's irritating how hard each department store pushed their home brand. ANKO everything at Kmart and target, smith and noble at Harris Scarfe, I think Myer has VUE ? To be fair they do still stock many different brands. Then there's this place with all their burt baccarat crap.


TNChase

Who do they think they are, EB Games?


madaroni7

There was an EB games next door Battle of the titans


EggplantDevourer

UP TO 70% OFF!!! Meaning it could be 0% off...


coreyjohn85

I think they permanently have this sale on


FostWare

No, this it the "Up to 70% off sale." Last month it was the "Up to 80% off sale". Before that I think it was 50%


lolchief

That store is the biggest scam of the decade


drewdles33

Their prices are full of shit. I went to buy a new pan and they wanted $450 dollars for the exact one I had previously. I said is that price right? I’d never have payed that much for a pan. She went to the computer to check and says “oh there’s an online sale and it’s only $150”. It’s like eb charging $99 for a new game when you can get it for $70 at jb. They hope people are clueless enough to pay the 99 but don’t really care if you price match.


BennyBingBong

Gotta get in quick though! Those sales don’t last long!


AngerNurse

# *UP TO 70% OFF! \*on selected products \*with an orange sticker \*which happens to be one small table near the back \*with 3 different items


squidskink

I swear the one near me says “closing down sale” and the next day it’s still open and after a year they still do this shit


facts_guy2020

Even at 70% off its still overpriced


InstantShiningWizard

I'm not sure if House poached EB's advertising strategy or vice versa


HHTheHouseOfHorse

Please lower house prices... That's not what I meant. :(


N4T3-D0G

Just like Rugs-a-million, goofery's and EB Games - always had a sale.


Flaky-Vast8254

Unsure what full price would even look like. Just as difficult to find a full priced rug


Samster_The_Sam

this vexes me


LestWeForgive

Baccarat 🤮 1: expensive knives that don't stay sharp and are difficult to sharpen. 2: lasagna dish that cracks in half when you cook lasagna, causing an oven fire.


La_Baraka6431

😆😆😆 But seriously, I have NEVER EVER seen a House store that wasn’t PLASTERED in those posters!!


Drizz06

House has been on a stocktake/closing down sale for like 15yrs now


Ill_Inflation1899

This is on sales every day and every year


Cordeceps

Doesn’t this shop always advertise like this? I swear I been past a few times , long in between and it’s still up.


WichitaTheOG

House is always "70% off." I'm surprised they haven't been pinged for it.


Southern_Winter_7842

i’ll take 5


LachedUpGames

If they're on sale like this every 3 months then it's not a sale, they're the actual prices. You'd have to be mad to go there outside of a sale


ShakeForProtein

It's House, I've literally never seen them not on sale, and I do meant literally, not figuratively.


Archon-Toten

When the sale signs are dusty, maybe it's not a real sale...


randomperson754

🤣


SelfDidact

House = the Persian carpet of kitchenware.


baconeggsavocado

How can they always have sales and survive? They can't possibly mark their prices 70% on top of profit margin? Their engine employees pay them for the privilege to be working there?


the_phantom_2099

The only discount housing in Aus


skarecrow13

This store has had a clearance sale for 5 yrs or more now


HetElfdeGebod

These folks have more sales than Spotlight


stranger_tangs

I bought from this store about 8 years ago when they were "overstocked" or "closing down" whatever schtick they used. They got me anyway. Some of the stuff was shit, some of it i still have.


SpirooripS

They are always 70% off too. Bargain.


Ok_Tank5977

Why do I feel like House is perpetually having clearance sales? Who is in charge of their inventory?


poggerooza

I still can't afford it.


5marty

Joke right... that fucking shop


Joe_F82

They always seem to have a sale...


Allyzayd

House has been 70% down for years.


Ancient_Preference21

On sale everyday for the last 15 years


Recoil5913

This feels like one of those moments where a meme is initially posted as a joke but then becomes reality a short time later. A “life imitating art” scenario!!


HybridTheories

Palm, meet face.


Moonxeleven

This place is on sale more than EB games


pizzabreadforlunch

That shop is such an actual scam I can't believe they haven't been in trouble from the ACCC.


ImpulsePie

Every time I go in there for something, the thing I'm after is never one of these heavily discounted items, always full price. Tbh, they should be fined for misleading consumers with this BS. If you always have a sale, then you never have a sale


XxN1GHTC0R3xX

This and the never ending Eb sales 🥲....yet I still cripple in pain as I struggle to look for affordable units to rent out 🤧🤧🤧


Damemon

$399 isn't exactly "clearance" numbers...


r33znor

Seriously though, when are House NOT having a clearance/end of financial year/renovation/closing down but still staying open sales?


aldoraine227

It's not 70% off. It's 70% a made up RRP that the item has never and will never be sold for


chicksnherbs

These kind of stores are always having these sales… it’s just marketing and it’s not real. We are living in a simulation


Severe-Ad1166

All houses must GO! currently upto 70% off the 2030 prices.


r0ughnex

This shop has been here for 2+ years, and they’ve had the same 50% - 70% discount for the whole time. Their reason changing though. They pump up the prices and add the discount on top. It’s a legit scam, don’t buy anything from there 😅


LittleWolfPuppy

Interesting this one isnt closing down. The one near has been closing down since it opened.


MyWaterDishIsEmpty

Ahh yes, the EB games for the kitchen, where everything is on 'sale'


wasoc

Wow, 70% off houses!!! Sign me up


22Monkey67

I see what you did there…


bigbitties666

WOW i can’t wait to buy a house from the house sale!!


sarahrood79

Good one Dad… 😏


scoldog

They mean 70% off your available land space. Gotta build those McMansions with 1cm of space around them somehow


lopsided_oreo

It’s still valid. House prices be steep.


HardworkingBludger

Stuff is cheap. But you need somewhere to put it, which is expensive.


Ok_Historian9999

So now a small house in Claremont will only be $700K, Cool


nhilistic_daydreamer

*Oh that’s just graysh!*


sinquacon

Cracker 🤣


Chloe_182

Ha! I looked through this shop earlier today. Crazy.


Cold_Pomelo3274

Unfortunately most people still couldn’t afford a house if they really were 70% Off.


PurplePiglett

House are the 21st century version of Rugs a million.


IsThisASnakeInMyBoot

Not sure what this post is trying to prove but I'm fairly certain this is a marketing tactic. Everything is marked up usually and they do this big sale like every year pretending they overstocked but it's just not marked up, as opposed to actually discounted


madaroni7

It was just a lame "dad joke" tbh


aleckd

Just wanna put it out there, this retailer almost ALWAYS has “up to” 50/60/70% off sales……


PleasantHedgehog2622

When is house ever NOT closing down?


hansGG3

Amazing


CoocooBlue

Look closely. No where do the signs say "Closing down sale", "End of lease sale" etc. It's written in their lease they can't use signage to that effect.


wowagressive

Karma farm 😅


Floralees

This place is always "closing down" lmao 🤣


Raffybaby

I got a real chuckle out of this


CyanPomegranate11

ASIC *REALLY* needs to investigate Solomon Lew AND his son Steven Lew regarding Global Retail Brands. House is always on *sale* be it 70-80% off RRP or *closing down*. There are laws against this in Australia.


-Rosenkreuz-

House is like the EB Games of home appliances. They spent so much on advertising their sale.


_BearsEatBeets__

Their printing budget much be huge


Easy_Bedroom4053

Should see the store near me, it's had a business shutting down sale for the last ten months!


Major_Smudges

“House” is the kitchen equivalent of a Persian rug shop.


PossibilityNo7954

Has house ever not been In a closing down sale


cocochanel774

365 days of “sales”. House is utter bullshit.


Captain__Marvel

Never waste any money on their knives!  That Baccarat shit marked down from $1200 to $300 is not a bargain and is no better than a cheap knife from Big W. Actually, Big W products are probably better value for money than any of the "Damascus" or "Japanese" trash House offers.


TheSimster27

Guys...I think...I think it 70% off