why are house prices rising so fast, been told they will cool off shortly......any thoughts.
supply and demand, mining/military contracts = too many people chasing too few houses.................and out of state investors all good news for house sellers
predictions here are very very strong that house prices will continue to rise dramtaically in the near future - an estate agent i know predicts adelaide will catch up perth as s.a. represents the last region where oversees/interstate investors snap up houses.....
given the living costs here any more house price increases are bad news for all other than house sellers - thats why so many new arrivals are forced to live south/north where house prices are considerably cheaper...ill say no more!
p.s. houses usually sell for 10% over the advertised price
eg $350K SELLS FOR $385K PLUD PURCHASE LEGALCOSTS ABOUT $15K = $400K
as a rough example and that will hardly buy a 2 bedroom flat in the very desireable areas of the city....
most houses sell within one open day so i really cant see how anyone can say house prices will not continue to rise dramtically (currently 10% in 6 months) for the forseeable future..........
the australian dream of the young owning own their own home - its gone im afraid and another 2 years here = the uk housing scene all over again ......
imho the australian dream is no longer a financially attractive dream UNLESS you have the $ to purchase your house outright or small mortgage.....
otherwise expect a big mortgage combined with lower wages higher day to day living costs - too many people expect things to be cheaper than what they are
all the best
looks bad for the younger generation then. 10% rise in 6 months poor children will suffer as parents brag how much their property is worth, your children may never leave home.............maybe uk not so bad after all.
it maybe good news for us here in uk...as people chase the fading aussie dream, property here is on the decline......it may or will become a buyers market......good news for our children
reading the above posts makes me feel deflated but the do ring true, i think the aussie rainbow if fading for some.