Read this on the Sydney Morning Herald; according to this article, house prices in Australia are not going to drop, but actually increase due to population growth and the influx of migrants. So it's our own fault houses are so expensive!
Not trying to put a downer on anyone making the move, just undecided whether to wait and buy a property, to see if the market does follow the UK's downturn, or get one a.s.a.p before they go up. Everything I read seems to have conflicting advice.
As I'm still not 100% sure I want to stay long term, don't want to get trapped with negative equity!
Jo x
It's so difficult to know who's telling the truth isn't it?!
It was the same up here on the Sunshine Coast. One week there'd be a big thing about how prices would plummet up to 30%, the next a "good news" type article about how it would all stay steady.
Maybe if you're still not sure about staying it's a good idea to keep your options open? Houses do seem to be taking a while to sell right now, so if you wanted to bail you might not be able to do it quickly.
Buying is certainly way more expensive than renting (well, it will be for us!)
Location: Coombabah, Gold Coast from Oldham, Gtr Manchester
Posts: 1,037
True! We'll be here for the next few years I expect, just don't know if I can see it being forever, and I'd like to have our own home to help us feel settled. Will cost us more too every week, as don't have a massive deposit.
Jo x
True! We'll be here for the next few years I expect, just don't know if I can see it being forever, and I'd like to have our own home to help us feel settled. Will cost us more too every week, as don't have a massive deposit.
Jo x
The "feeling at home" issue is why we went ahead and bought a house. We've only been in rental accommodation about 3 months, and we're already sick of it. We hope that when we move into an established street we might get to know our neighbors. In 3 months of being in our current place, i've not even seen anyone from any of the other apartments in this building. We're starting to think we may have a body odour problem
I agree with Tyke, I can't see the market in Australia plummeting as per the UK maybe slowing down, and houses getting discounted if the owners really need to sell... but hey, I'm only an amateur!
We bought our house a month ago and since being in it have settled more than in the last 10 months put together..I think it helps having your own place as you do feel more homely and actually feel like you are working toward something.. Who knows if we will stay forever but for us it is good for now.. Properties here in Beerwah are still selling and still rising in price so its looking promising Jo x
We had the same report in Queensland with houses set to rise up to 22% in the next 24 months, Basiclly bull crap by the goverment to scare people into buying thus keeping the market bouyent. Well at least that is my own take on this. But for defo there has been a downturn in the building of houses to a more managable level. Think they will put interest rates up again soon.
Read this on the Sydney Morning Herald; according to this article, house prices in Australia are not going to drop, but actually increase due to population growth and the influx of migrants. So it's our own fault houses are so expensive!
Not trying to put a downer on anyone making the move, just undecided whether to wait and buy a property, to see if the market does follow the UK's downturn, or get one a.s.a.p before they go up. Everything I read seems to have conflicting advice.
As I'm still not 100% sure I want to stay long term, don't want to get trapped with negative equity!
Jo x
Check out my post today from the MSNmoney website on the predicted house price rises on the next couple of years.
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Happiness is a path not a destination - Silk Road fortune cookie
We looked at properties in Beerwah 4 years ago and they were an average $250,000 they are now double that...It is hard to know when to buy but I would if you could..I just wish I had enough to buy another one right now.. Also there are 2 new estates here , each housing 500 homes...Another just being built..Must be something in it Jo x
I agree with the previous poster , "the Smith Tribe " .. It's a beat up to make us believe that the economy is in better shape than it actually is . The truth is , there are record mortgage defaults , the cost of living is skyrocketing , yet our wages are not even keeping up with inflation . In short , we are going backwards !! ..If house prices do start to rise as predicted , then who is going to afford them ?? , and those that do dive in and buy will probably join the growing list of mortgage foreclosures by the banks . In addition , it's not really good news anyway , as there is a growing number of mortgagees who are still in negative equity and any rise will only slightly offset their debt ..Well that's the picture in Sydney , however , if you in the mining areas of WA or QLD it may be a different picture .
