Hello Property Expert
 

Hello,

What is your prediction on property market in Australia? How long can it continue to grow before it burst?

Or, how long people in Australia can stretch the mortgage loan before everyone says, 'That's it, enough'.

Cheers

Re: Hello Property Expert
 

Wouldn't that be nice to know? Could make a bit of money.

It would depend on which city. Some cities have higher increases in prices than others. It seems to be based on how many people are moving there & land availability. I have no idea really. Not a property expert.

What I've heard a lot of recently though is that we're building far too many big 4+ bedroom homes. That there'll be a glut of those, when the boomers' kids have all left the nest and we'll want to get into something smaller, less maintenance, instead of rattling around in vast houses with empty bedrooms. They say that the prices of these will sag because there won't be a market for them. That theory seems to have some merit but who knows!?! :confused:

Re: Hello Property Expert
 

Good day

I've read recently that part of the boom was due to people buying homes for investment property (rentals). Now according to some financial/property experts, there are more rental properties than there are renters.

my opinion (which doesn't count for a lot :) ), is if the mortgage rates go up, I think hell of lot of people are going to lose their homes. A lot of people have been borrowing up to their max in this boom, more than they can really afford. I remember the boom and crash of the market in the Uk during the 80's, whether this will happen in Australia - who knows?

cheers