kevinm

All being well I will qualify to be allowed to go to Oz. Mainly interested in Brisbane.
If this is the case I would like to buy asap.
Are house prices on the way up or down, I think ive read there going up ?
Any help would be appreciated as ive seen houses to buy off developers that are show homes, they lease back for upto 3 years.

sid_s

I am also very interested in this. There's a good article here which seems to be relatively unbiased and was written just a few days ago:
http://www.loan.echoice.com.au/pages..._brisbane.html

It basically says prices went up by 1.8% over the last year and they expect a continued slowdown rather than a collapse (although banks always say that). I did see a listing of the % increases/decreases over the last 20 years the other day but can't find it now. I'm sure it said that a couple of years ago prices increased by 39% within a year(!). Can't help thinking there has to be some sort of significant correction after that.

I've come to the conclusion it could be a good time to buy if you feel confident you will be there for a while. Seems a bit like the UK really - there's been a boom and they're at the end of it but nobody knows if there's going to be a gradual decline, or a collapse or things will start to rise much more slowly. Just lots of speculation. I have noticed on real estate website that there are a few markdowns and I've heard that people will often accept offers below asking.

wanderingwombat

The market has picked up again in terms of sales since it went quiet in early July. Accepted offers are below asking price, although some vendors still think it is boom time and expect to get silly prices.

Confidence seems to have returned to interest rates staying low. Brisbane/SEQ has taken a while to be seem as a viable alternative to living in Sydney or Melbourne. That momentum continues with plenty of people moving still moving up.

Good luck

WW

jad n rich

Local factors too, building industry seminar last night shows from early 2006 new requirements for housing regarding insulation, solar hot water, lighting, and tanks (all regulations yet to be finalised but they will be) will raise the cost of constuction on a 128 sm house by $9000, given most houses are double that size once you include garages your talking best part of $20,000 jump in building a house.

Coupled with recent changes to subdivision laws, developers say they will be passing on a $14,000 to $20,000 increase there too. If anyones looking at building in the next 6 months get onto it now, from march 2006 it will cost a whole lot more.