Ive heard conflicting points of view re house prices.
On one hand I read an article on an Aussie paper websight that 99% of houses on the Sunshine Coast are unaffordable now, on the other i've been told by a family we are corresponding with the prices are dropping, by upto $80,000AUD, in some areas.
Could it be the latter is now a consequence of the former, and the propety boom bubble has burst?
As I understand it from family here, the house prices have dropped but are now starting to rise again. In Sydney where we are, prices dropped by about 25% 12 months ago and are on the up again, so probably good to buy now rather than later.
Hi! The issue of falling house prices can only be a worry for people who wish to buy only to sell and make a fast buck.If you have found the home of your dreams and can see a future, then why be worried? House prices always seem to peak and bottom out within an 18 year cycle.An option you could take if people are concerned about how much equity they have is to be adventurus and go for a selfbuild by which you design your own house to suit your requirements and make a good paper profit when finnished.Or, buy offplan which means you agree to buy from the builder before the home has finnished being built,in most cases you will make between 15-20% instant profit when finnished which stands a good chance of riding out any downfall in prices.Both methods mean that you will have to find alternative accomodation ie rent or stay with family and friends.I have decided to selfbuild using tradesmen where required and using job income to pay for rented accommodation.I will make this the family home of my dreams. Hope this was of help.
