on a mission

http://www.news.com.au/couriermail/s...29-952,00.html

Nursebank

Oky Doky,

I think i will nip over a grab one before they all go, damn it, just remembered, i can't, busy tommorrow, there goes another get rich quick scheme, never mind hey, some you win some you lose.

Damn those media types, giving away these top tips to get in quick in Bris?

God i just love the broadsheets, should be renamed Bullsheets?

sammyg

We were told we were mad to be paying 115k pounds for our first house in 2002 - 4 bed detatched...glad we went through with it though!

Seemed expensive at the time? Proved to be our best investment ever...

Could this be the case with the brisbane market? Will people look back in 5 years time and say 'we could have had one of those for 500k aud' when the same house is now worth 1m aud? Maybe, imo.

We will certainly be looking to buy asap after arrival to avoid getting priced out - seems like common sense to me

Nursebank

Good Thinking, i will have a bit of that aswell?

jad n rich

5 years ago in SE qld the same thing was happening, probably worse, and everyone predicted after that the market woud go down, house prices would drop. Up here a block of land was $70,000 avg, houses around the $200,000

Now that same area, land (if you could find one, (severe land shortage due to the mass populution increase) would be High $200,000's+++ houses $600,000. This isnt newspaper stuff, this is what we have seen.

Melbourne seems as bad, I simply cannot believe what you pay now (if you want to be under a hours commute to the city) truly scary especially as most of it is old, needs a lot of work done, tiny land area.

Avg house price in bris now is $434,000 and for that unless you go to the burbs on the outskirts and face horror traffic daily, you would get 50 year old board type house, 3 beds one bath type thing.

killamarsh

I was gob smacked when I read it on the Courier Mail last night. My parents are in a Brisbane suburb and I couldn't believe the median price for their area.

jad n rich

The price rises seem to be driven by lack of supply, massive population surge = more buyers than properties for sale.

However there is another problem, this has led to a lot of vendors thinking what they have is worth far more than it is Unfortunately with so many buyers it only takes one to pay a silly price and every other vendor thinks theres is worth that too and up go the prices.

Still its australia a couple of interest rate rises always puts the freaky horrors into the housing market, low wages magnify the effect of interest rates, but with the current changes in state and federal politics its a bit hard to say what will happen.

MartinH

People seem to forget economic fundamentals. Compare average house prices to average wages? Notice anything?

Someone somewhere will catch a cold soon - and you know how colds spread

Nursebank

I wondered when a little sanity was going to be mentioned, that word, its sometimes forgotton in all the madness "WAGES"

What a word hey, we do not need them, we do, they service the debt that someone uses to pay that lump they use to value or should i say current market value of the thing you call home?

Wages are so disconnected from values of houses, its just scary, but there is always renting, and when that gets too expensive, there is always the BEACH

See yeh there, in your swimwear, who needs a house, i have an overdraft and a great bikini line!

TheSubMainMan

No problem,there is plenty of money to keep the ball rolling. Just go get one of those sub prime mortgages/loans. You don't even need a stable job and recession don't happen anymore.

Do I feel a bear coming on?

Nursebank

You Naughty Naughty GURU YOU?

hantsfamily1

Anything goes up too quickly is unsustainable. A few replies of mentioned that the wages are not enough to cover these huge increases in prices. When the mortgages become unaffordable the prices will have to correct. The US housing market is dropping at a rate of 3.5% per month at present. The predictions are that the UK housing market is 50% over priced and needs a correction, the Japanese market is starting to crash and experts say house prices are globally linked.

Realistically with the average wages in Brisbane does anyone really think average house prices will reach a million dollars.

Nursebank

Answer = No, a good post, but dreams are dreams, and reality, well we will see?

http://britishexpats.com/forum/showthread.php?t=479968

bcworld

AUSTRALIA has by far the most overvalued houses in the Western world, with prices 52 per cent higher than justified by rental values, the OECD says.

In a new analysis of the housing boom sweeping developed nations, the OECD also says the price of housing relative to incomes is 50 per cent higher in Australia than in other countries as a group.

http://www.theage.com.au/news/nation...311106610.html

Nursebank

Anther good, very good honest balanced post! Thanks