irishmolly

Interesting link from todays Courier regarding QLD house prices, mortgages and economy:

http://www.couriermail.news.com.au/c...5E3102,00.html

elksa

Are all Aussie's this optimistic???

Jacko1

Most of my relatives live in Queensland, and this has been on the cards for sometime. (An eighties style UK property crash)

PJ

elksa

Do you think there will be a property crash relatively soon? Keep reading about it here in England but nothing seems to materialise.

Sharpy67

and they've been talking about an Eighties style UK property crash in the UK now for nearly three years.........and everybody is still waiting for it to happen!!!!!!!!!

Jacko1

Well, certainly in Brisbane property is starting to get out of reach for first time buyers, aand some properties are going for up to twice the price three years ago.
That along with interest rates could bring it on.
As for the UK things have slowed up/stopped, but I don't think there will be a crash here, just a levelling off. (IMO)

PJ

Megalania

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ABCDiamond

Just to compare BIS Shrapnels comments with what they said in September Last year:

06aug04
BRISBANE house prices will rise another 12 per cent this financial year but homeowners can expect a steep climb in interest rates to more than 9 per cent in 2006 and a recession to hit the economy in 2007-08, according to economic forecaster BIS Shrapnel.


29sep03
Forecasters BIS Shrapnel said the economy would accelerate sharply next year, requiring a substantial rise in business investment and employment and leading to a fully-fledged economic boom by 2005-06.

But rising inflation would trigger aggressive interest rate rises by the Reserve Bank, sending mortgage rates up to more than 10 per cent in late 2006, compared to 6.57 per cent now.
Does this mean that Interest rates aren't going to be quite as high as they thought last year.