NKSK version 2

God knows why this was moved to the Barbie - I'd have thought that it was ideal fodder for those planning on or actually making the move to Australia.

Muzza04

This will have a huge influence on the rise and fall of property, anywhere in the world.

Every institute in the banking sector is exposed to bad debt, and the base rate set by the reserve, is not always an indicator for banks to follow...

stariston

I think this one should go in the Alian having my baby catagory

may seem usefull if you are buying uk property
may seem usefull if you have just sold a uk property
and want to gloat
Or you are all bitter and twisted and quite aware some
people have to validate ther visas due to a slower
market in uk so why not wind them up a bit

Just looking for an artical on Aussie house prices to tripple and
and uk house prices to be given away as thay are going to
drop 100% and over the next 8 years and the whole population of
the uk have moved to Poland

Vash the Stampede

Agreed.

The need for housing was there before the credit crunch, continued through the credit crunch, and - if anything - is now even worse as a result of the credit crunch (partly due to people having to downsize into smaller properties and/or rental accommodation).

Whether or not these houses are "in demand" from a purely economic perspective, is another thing entirely. If they are too expensive, people won't buy and they won't be "in demand" - but in real terms, they will still be needed.

It's the difference between economic jargon and practical reality.

chris1386

Ive heard that the Australian Government is going to start 'giving away' new build 4+2 beachfront homes in a bid to stop the worrying increase in whinging pom homesellers migrating from the UK with an uncharacteristic (and downright UnAustralian) frown on their faces.Apparently if your UK house loses 50% in value you are automatically eligible for the scheme.The news has been welcomed by everyone who believes this thread to be of any value whatsoever, IMHO.

aston man

alibleedinlooya.....

mind you ,its going to pi55 down tomorrow

Funky Monkey

These statements make me smile. With all the technology we have they cannot even predict the weather tomorrow with any accuracy let alone the property market over the next few months.

Houses rise in price and houses fall in price they always have. I agree that in the U.K it is driven by need. O.K so 3rd world people cannot buy but many people can and they do buy second homes and rent back to the social e.t.c, yes the market wains but it will probably not crash.
Take my first house and we all can relate to this. I bought it for 35k in December 1994 and it is valued today at 160k, even if it lost 50% then it is still worth 80k which gives a margin of 45K. This is at the worse and in 10 years it probably has climbed way beyond that.The problem lies with people who constantly remorgtage out of want and not need, they are driven by wanting more and more and have borrowed up to the hilt, o.k some people really are hard up and circumstance forces bad situations but for most it has been greed. I am not well off and am not gloating but again peoples greed will have been a big factor in their downfall.

Amazulu

Totally agree. Remortgaging for any other purpose than renovations/extensions or to purchase other property is just plain ridiculous. This has been a huge problem in the US. Plenty of people in Australia do it too ........

NedKelly

Well that's typical. With global warming and the odd cyclone, we all know that these houses are going to be washed away in the next 10 years.

Funky Monkey

Hi Amazulu.

I suppose it's a world wide problem and again some people get sort of forced into it as life deals some cruel blows. I do also blame the banks e.t.c for pushing "it" upon us, not everyone is strong enough to abstain.

fraser

Be great if they did and the $ strengthens more against the £

Amazulu

This thread nudged me into having a look at what we could get in the UK if we sold our house here for it's current value and converted it into GBP.

I was pleasantly surprised.

fraser

Exactly and property is more durable in the UK so a much better investment.
If I could live mortgage free in the UK it would be a very attractive proposition.

NKSK version 2

Well people like me don't.

Household income about $105K, $200K deposit to put on a house and yet a house price above $450K seems very painful in terms of mortgage payments.

That's what I don't understand - I'm not particularly poor. And yet paying a mortgage of this size would pour untold misery on us each month.

Just saying that fundamentals are sound does not, I think, mean that house prices won't fall.

worzel

I have every sympathy for anyone struggling to get by, I was there once. But I am not looking at personal views nor just the current situation. I am taking a very high level view here. A house in Perth has risen by about 400% in 10 years from what people tell me. In the UK the average price of a house has also exceeded inflation by a large margin over 10-20 years. While there will be peaks and troughs, I cannot see any reason why in the long-term prices won't carry on growing faster than inflation with populations growing and land being used up. There is a question of affordability but new entries to the market will have to start with a unit as is quite common in the UK. Others will do a couple of years in the mines to build a deposit. Some will share with mates. Some will go for the shared-ownership that is only just starting to take off here. We also have high interest rates at the moment but that should end at some point making mortgage payments smaller (though probably houses more expensive at the same time).