Originally Posted by jimbo_d (Post 10205976)

You'll probably need at least 3 months' worth of wage slips, and also unless you want to be paying mortgage insurance, at least 20% deposit. Also note the property market is hotting up in Perth due to all the fifo's buying up houses again so there's plenty of competition and vendors are achieving good selling prices. I know of friends who are struggling to find houses they want/can afford when this time last year it was dead and a total buyers market. As for the people quoting stats about hosue price falls, the official figures show houses are rising in a lot of states still.

http://www.abs.gov.au/ausstats/[email protected]%202012

Originally Posted by Zen10 (Post 10205981)

Face it - the party's over and prices are stagnating at best.

Originally Posted by hoofie2002 (Post 10206040)

Maybe but every house I have seen for sale in my area [Duncraig] in WA in the last 6 months has been sold extremely fast. For 3 of them I knew the owners and all of them want in 2-3 weeks and for above the asking price.

Originally Posted by jimbo_d (Post 10206105)

Yes Perth is going through a mini housing revival right now, a lot of people have moved over in the last 2 years and were renting, they're now starting to buy. The property market here has been bumping along the bottom for some years now, steady rises over the next year or so are expected. Talk of real estate crashes has been done to death and will never occur in a supply constrained environment. Melbourne on the other hand is probably going to get quite nasty as there's an awful lot of stock coming on line and nothing's shifting as it is.

Originally Posted by Craig Vaughan (Post 10206222)

You can arrange migrant mortgage approval before you arrive in Australia - the approval will be subject to confirmation you have arrived in Australia and started your new job.

The rules vary though depending on your residency status, type of visa and so on. But if you are coming on a 457 visa for example, then 90% LVR is available (ie, with a 10% deposit). However, if you can do the 20% deposit option then you will save some money on mortgage insurance.

<snip>

As to whether its a good time to buy... who knows. If you buy now, you will look back in a year and think great timing or bad timing.

Originally Posted by Zen10 (Post 10206226)

I've got my eye on a place a couple of streets over from me - a 20% deposit would be $150,000 - pretty much what the whole house cost in 1995.

Originally Posted by Craig Vaughan (Post 10206222)

You can arrange migrant mortgage approval] before you arrive in Australia - the approval will be subject to confirmation you have arrived in Australia and started your new job.

The rules vary though depending on your residency status, type of visa and so on. But if you are coming on a 457 visa for example, then 90% LVR is available (ie, with a 10% deposit). However, if you can do the 20% deposit option then you will save some money on mortgage insurance.

<snip>

As to whether its a good time to buy... who knows. If you buy now, you will look back in a year and think great timing or bad timing.

Originally Posted by Betty Boot (Post 10207268)

Thanks craig
Although we are australian citizens all with passports - will that makea difference?

Originally Posted by Betty Boot (Post 10207263)

Thanks for all the replies and links - certainly food for thought. Our rent (if we manage to get anything decent) would be $600+ a week. If we bought with 20% deposit our mortgage wld be roughly the same, but i also think prices are over inflated at present with perth boom:frown: do we want to risk buying to find it drops in a couple of years (as it has done for us in uk) or be miserable with a move to a cr***y rental? Another one of those immigrants dilemas i think:(

Originally Posted by Bermudashorts (Post 10208025)

So I wouldn't postpone buying in case prices will drop, that has been predicted on BE for as many years as I have been here. However I would postpone until I have lived in the area, got the feel for it and made sure it is where I want to live.

And there is no need to be miserable in a cr***y rental, get a nice rental! :nod: