Here I am again, the antithesis of real estate agent hype....
Nov 12th 2006, 2:05 am
#1
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Joined: Oct 2005
Location: Perth
Posts: 3,453
Here I am again, the antithesis of real estate agent hype....
...great article in the Weekend Australian yesterday (page 37 of the Business section).
Not about Perth house prices per se but about the dodgy lending which goes on in Australia, low-doc, no-doc etc (....new migrants be wary!) and the subsequent repossessions.
The article uses examples from the Sydney market. To quote just one paragraph....
"One house in western Sydney suburb Fairfield, a three-bedroom weatherboard number, had just passed in at auction for $279000. The bank was the vendor. It had been sold for $560000 just 18 months earlier."
This was Sydney. Doesn't the inflated price of 18 months ago sound like Perth today?
Not about Perth house prices per se but about the dodgy lending which goes on in Australia, low-doc, no-doc etc (....new migrants be wary!) and the subsequent repossessions.
The article uses examples from the Sydney market. To quote just one paragraph....
"One house in western Sydney suburb Fairfield, a three-bedroom weatherboard number, had just passed in at auction for $279000. The bank was the vendor. It had been sold for $560000 just 18 months earlier."
This was Sydney. Doesn't the inflated price of 18 months ago sound like Perth today?
Nov 12th 2006, 4:07 am
#2
Timelord
Joined: May 2006
Location: Lost in space...
Posts: 2,834
Re: Here I am again, the antithesis of real estate agent hype....
Originally Posted by NKSK version 2
...great article in the Weekend Australian yesterday (page 37 of the Business section).
Not about Perth house prices per se but about the dodgy lending which goes on in Australia, low-doc, no-doc etc (....new migrants be wary!) and the subsequent repossessions.
The article uses examples from the Sydney market. To quote just one paragraph....
"One house in western Sydney suburb Fairfield, a three-bedroom weatherboard number, had just passed in at auction for $279000. The bank was the vendor. It had been sold for $560000 just 18 months earlier."
This was Sydney. Doesn't the inflated price of 18 months ago sound like Perth today?
Not about Perth house prices per se but about the dodgy lending which goes on in Australia, low-doc, no-doc etc (....new migrants be wary!) and the subsequent repossessions.
The article uses examples from the Sydney market. To quote just one paragraph....
"One house in western Sydney suburb Fairfield, a three-bedroom weatherboard number, had just passed in at auction for $279000. The bank was the vendor. It had been sold for $560000 just 18 months earlier."
This was Sydney. Doesn't the inflated price of 18 months ago sound like Perth today?
:scared:
Nov 12th 2006, 6:32 am
#3
Account Closed
Joined: Mar 2006
Posts: 10,158
Re: Here I am again, the antithesis of real estate agent hype....
Many repossessions in the Sydney area... and up here.
Lots of bank auctions going on.
Lots of car repos too, which is a good opportunity to get a nice bargain.
The prices won't climb any more in the suburbs imo.
Lots of bank auctions going on.
Lots of car repos too, which is a good opportunity to get a nice bargain.
The prices won't climb any more in the suburbs imo.
