stuckinblighty

So are house prices gonna rise or fall and by how much ?

I need to know !

lee

Tableland

If they rise, then you should think about buying canned food and some shotgun cartridges because only hyperinflation could make that happen, at least in the UK.

ozzieeagle

Yes I do agree with this point, it does all depend on how the Job Market holds out.

We still have acute staff shortage at Aus Post, same with my Wifes type of Employ Psychiatric Nursing.

I'm sticking to my guns on this, the inner burbs of Sydney, Melbourne and Brisbane will be the least affected, thats where the best job opportunities are.

DrWho

They're up here on the Northern Beaches as well...! lots to choose from that have ben on the market for weeks... write your own deal for many...

CazYaz

fall by 50%

Tableland

I think that some properties could easily lose 50% from peak to trough.

Geelong Gent

High unemployment is on the way - headcount culling is high on forecast agenda's - being pushed from corp headquarters offshore.

You can see the fear in agents eyes and most definitely in their voices. Developers have been told to get their LTV % down to 60% from 80% and therefore are offloading longer term landbanks and consolidating positions.

Once prime building land is sitting collecting no interest at all. Streets where land sold for $900k 6 months ago has been passed in recently (Sept) for $500k and still no offers even at $450k. (Specifically these are 300 - 400 sqm sites in Glen Iris/Malvern East.

GraemeS

the main defence is the governments wish to keep assets high - this protects the banks loan books from crashing in value.

the ever increasing need for capital to be raised - much fewer bilionaires here to inject a few billion.

i'm coming round to the gold as currency idea!

Tableland

I agree - but what government wants and what government gets are often two different things. In serious deflation cash is king; who wants to buy gold at $700 and watch it drop to $250?

NKSK version 2

I read the other day that Woodside have a recruitment freeze.
Not unemployment I realise but bearing in mind that employment growth is supposed to be one thing which prevents Perth prices from falling...

NKSK version 2

The sentiment in this poll - if it is reflective of the general feeling - is probably enough to send prices crashing.

chilliman

I did exactly the same, still renting in the UK, moving out in Feb. Seems I made the right call in the end, although did have a few doubts !!

IvanM

Do those jobs pay enough to support inner city mortgages? That is the real reason some employers are shouting "skills shortages". It is more a shortage of people willing to work at a wage.

ozzieeagle

Most Families in the central burbs are dual income. Even on the average wage, they should be earning at least Aud 120,000 per annum between them.

So ours do... Just.

Just had a look to see if I could find an average wage for the Moreland Area, the latest figures I could find only go back as 2005.

IvanM

Should be or are? A 3x loan would then be 360,000. That would mean that median housing in the are would be around 400,000 if the market is sustainable in the current lending environment.