Simoned1

Hi Everyone,

I have never been scared about the move but looking at how much the house prices have gone up in the last year is starting to frighten me a bit. I just don't understand how people can afford it, we are trying to be realistic about our wages when we get jobs and have probably under estimated how much we will get. I now have serious concerns as to how life is going to be.

Simone :scared:

Rug13y

Down to F**king greed! No need for it.

sassenach

Have to disagree with you on that remark ,its down to market forces .
I have just moved house and i required a good price for the house i sold , so i could buy again .
West australia is in the grips of a commodity lead boom and the spin off is good wages and a more expensive real estate ,consequently people want to come here ,so they have to pay premium so they can live here because the prospects are so good for the time being .
After all if you want cheap real estate ,there is heaps here but its a 100+ ks out of perth and these areas have the shite wages to match their shite real estate .

CadburysFingers

Its not down to greed at all. Its down to supply and demand, nobody holds a gun at the head of potential buyers, they pay the asking prices because they know if they dont, someone else will, simple as that.

Rug13y

Nonsense. Its down to greed. 2 yeras ago prices were 'reasonable' until some morons from over east decided to 'invest' and shoved up the prices to reflect those in Sydney and hence estate agents took on the concept to make a quick buck and so they 'encourage' eastern investors.

I was recently in Kalgoorlie and was told by some 2 bit estate agent from Murphy Boyden that 'there are no properties available for you' yet 'we are quite happy for eastern investors to buy'. Its bullsh*t!
By the way, Kalgoorlie has GOOD real estate!

sassenach

From what i know of real estate in kal ,the only reason people buy there is because they want to jump on the back of the resources boom themselves.Its a gold mining towm and when gold is up ,so is real estate in kal .

Amazulu

'Greed is good', Gordon Gecko.

Tiawamutu

Another thread on the rising house prices in Perth

Sorry, but fed up with the prospect of not being able to afford a house to start with, without being reminded every day

jad n rich

Join the rush to the east coast ...... That seems to be the most popular solution

Paper yesterday had a shocker of a ad for one business agency, " Sell your business, desperate Brits and South africans waiting to buy " how very PC

Luma

Sorry but it is on the news broadcasts almost every day now. They are waiting to see if the interest rate is going to go up soon so there are lots of people speculating what is going to happen to the number of sales and if the prices keep going up etc.

mick69

i must say I read everything and anything to do with Perth at the minute. I, like the rest are starting to worry about house prices. OH is a first class welder and we are aware there is lots of work over there for him its just the every increasing prices. Is it possible to buy in Perth and be "comfortable" (Please note inverted comma's) We have two small children 3 & 4 and would love to just plod along happily. We don't want to be millionaires - just happy!!
Sorry for whineing on had a few glasses tonight and starting with the panic attacks :scared:
Lynne

pom bloke

yes mick69 it is a problem at the minute cos they are going up,but there is an interest rate increase or two coming shortly, it may slow the market a bit.As for job situ,OH will be able to earn good money welding,especially up north.it all depends whether you have a house to sell in uk? and are you building or buying established when you arrive?
so,the answer to your question is yes,you can live comfortable in my view if you are in the right trade.

so, have a couple more glasses!!!!!!

Simoned1

Sorry Tiawamutu,

But it's called reality.

Muzza04

yes it's a fact that house price here in Perth have increased massively over the last few years( where hasn't). Some valid arguments point to a booming resources sector, a mass of interstate/overseas migration with liquid money, to sustain it.

Despite what the vested interests ( VIs) say, the market has, IMHO, reached the top. What happens next who knows?? Stagnation or falls are the only 2 realistic options for the next few years. This will be compounded with inflation controlling interest rate rises.

In a nutshell, Wages here in Perth metro cannot sustain the growth, only the fly in fly out miners and overseas investors, who are more fools,will sustain todays price.

The cost of servicing mortgages, paying the escalating fuel prices and inflation in the supermarket goods is rising, but wages arnt at the same rate.

( Yeah I wish a 20% a year pay rise, but no chance)

Add to this, peoples obsession at the moment is at a peak too...Remember the mid 1990s and the talk was not of house price rises. Sentiment can change.

Also the mainstream media here are in cohorts with the real estate industry. However a blip came along today in mainstream TV news with the get this that the futures "grim" for house prices.

Finally. For those who are homeowners who have seen their house rise in value. Just ensure your insurances are upto date with the current valuation.!!


That's the reality. Not doom and gloom

canifixit

Commodity boom may help a bit but I feel this is just an excuse that people throw in. Would agree that market forces play a part (supply and demand). Speaking to many long term Western Australians they felt like they were at an advantage compared to their Eastern neighbours. They could buy cheaper houses and had as a result a lower cost of living (most never saved, just enjoyed life, and would have a mortgage for 20 years plus).
Then more and more foreigners started to arrive with plenty of money and were able to buy houses outright with money to spare, and would often comment on how cheap prices were (not clever).Then Eastern Australians started to arrive and they too could buy outright. Compounding this was the "Buy to Let" boom ("for my pension pot"). And ridiculous lending practices by finance companies.
Low and behold prices started to rise.
We have seen all this before and I just hope that common sense will prevail, and people will spend, and borrow only what they can afford.
Interest rises cause misery for those that have little money and borrow, and joy for those that have money.
Who truly knows what will happen just enjoy life.