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  1. #51
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    Quote Originally Posted by Elijahs Mum View Post
    Then go up to possibly to $900,s - anything under $1 mil still sells very well in that area , especially renovated brick
    Wow! I didn't think that much. The house does have some cons. We have a shared driveway, two of the five bedrooms are downstairs and the main bedroom upstairs is small for a master bedroom.

  2. #52
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    If you want to pm me your street name I can look up the most recent sales for you

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    Quote Originally Posted by Elijahs Mum View Post
    If you want to pm me your street name I can look up the most recent sales for you
    Done. Thanks.

  4. #54
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    No, I do not think we will have a crash. I think we'll stagnate somewhat but not crash.

    We are in a different position than the rest of the world. Our banks have tightened up significantly and we were/are not as mortgage based/exposed like USA and we do not have the amount of money/people/assets based in a war on several fronts

    Our economy is more related to China than USA - we are only very tenuously linked to Europe.

    China has a HUGE domestic market as well as a world wide export market - the domestic market in China will ensure that China ticks along even is world wide demand falters - and Australia's demand from China will also tick along

    As such we will have reduced interest rates to keep our dometsic market ticking along as well, and so long as we have positive growth our property market shouldn't crash

    There will be the normal peaks and troughs, there maybe a few more troughs than peaks but overall I can't see a crash

    There will be an increased rental market while there will be a softening of the high end of the market - I think the middle market might also soften and there will be a consistant demand on the low end of the market

    The changes to the First Home Owners grant will hopefully keep the construction side going along as well

    I am subscribing to this thread to re-visit next year

  5. #55
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    I don't know that we will have a big crash, but only because people have been saying for several years that we will and we still haven't.

    I think the market it well overvalued, and won't grow much over the next while. When we bought our house 5 years ago we were nearing the peak of the market here in Townsville, but it has come back down. If we sold today we wouldn't get much more than what we paid for it. We made a decent profit on DH's house that we sold to buy this one and took that profit into consideration when we bought because I didn't want to get caught out with our house having lost a lot of value and owing more than the house was worth.

    I hope that what happens is that gen Y (as a generalisation) will decide that they'd rather not own property than be stuck with two parents working just to pay the mortgage and prices will come down. If houses prices continue to rise in the way real estate experts talk (no offence to the agents in this discussion!) then the average Australian house price will need four incomes to pay off ten years from now. That doesn't even make sense!

  6. #56
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    Quote Originally Posted by WorkingClassMum View Post
    I think the middle market might also soften and there will be a consistant demand on the low end of the market
    From a selfish point of view, that's what I like to hear! lol

    Seriously though, you've made some really interesting points in your post.

  7. #57
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    Quote Originally Posted by Susan Mac View Post
    I don't know that we will have a big crash, but only because people have been saying for several years that we will and we still haven't.

    I think the market it well overvalued, and won't grow much over the next while. When we bought our house 5 years ago we were nearing the peak of the market here in Townsville, but it has come back down. If we sold today we wouldn't get much more than what we paid for it. We made a decent profit on DH's house that we sold to buy this one and took that profit into consideration when we bought because I didn't want to get caught out with our house having lost a lot of value and owing more than the house was worth.

    I hope that what happens is that gen Y (as a generalisation) will decide that they'd rather not own property than be stuck with two parents working just to pay the mortgage and prices will come down. If houses prices continue to rise in the way real estate experts talk (no offence to the agents in this discussion!) then the average Australian house price will need four incomes to pay off ten years from now. That doesn't even make sense!
    Yeah, there really is no way I can see that the kind of growth we have seen in the cities over the last few years could be sustainable.


 

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