dgf72

I landed a full time job on my second day in Bundy. Working for Bundy Toyota (qualified mechanic). Bundy felt like a big retirement village to me. It's good at the weekends though, lots of places to go, camping or whatever, weather's always nice. I was there in 2001 and the government was giving $7000 grants to first time buyers! A three-bed Queenslander would cost <$50K back then! How is the Gold mining boom effecting Bundy? If it were not for the commodities boom I'd say Bundy house prices had a long way to fall.

dgf72

The problem is that a rising tide floats all boats. Yes you've made hundreds of percent profit measured in paper money, BUT, the cost of everything else, including homes in nearly every developed nation on earth, have also risen. When you factor in the value of the £ against the AUS$ it makes it look far worse! When I was in Oz the £ was worth $2.80! It's $2.18 today!!!

bundybell

mining has taken some of the work force away which has made it difficult for youngsters to train in anything because theres no one left to train them. Good way of describing bundy a retirement village its definately a slower pace here ! My 2 kids feeling it a bit they are 19 and 22. Miss their friends and nightlife in Uk. im over on perm residemce so i can always move to somewhere else in Ozzie land
Teryna
Teryna

dgf72

I found that most places outside of the major cities were socially very similar. We were in NSW for a while (Wagga Wagga). Very odd place. Beautiful countryside on your doorstep however.

More people come back than stay it seems.

SinkingShip

I'm curious. Why do you think your house has some sort of minimum value? The high house prices of recent years have been fuelled by cheap and easy credit. Credit is not longer as cheap as it was and credit definitely isn't as easy as it was due to the credit crunch. It strikes me house prices are likely to return to where they were before the credit tap was turned by on the banks 5 or more years ago. If people cannot get the mortgage necessary to buy your house at the price you want, you won't get the price. I've watched economic cycles come and go for the last 60 years. I will be very surprised if house prices go up again in the next 10 years. Wages need to catch up and affordability needs to be more realistic.

SinkingShip

The house you so desperately don't want eh?

SinkingShip

The majority of houses in your road sold for some figure in the 300s during 2005. Interest rates are higher now. Why do you think your house is worth more than it was in 2005?

hereshoping

I wish, we only bought 3 years ago and there has been practically no movement in the market near us. We won't be in negative equity but also won't make a profit.

verystormy

I think i spot a troll

gerry

he must of got scammed off ea so wants everyone else too lose out

i dont understand people who come on looking for arguements???? WHY???

I would say go to the pub and pick a fight with some one but it sounds like he is a miserable old man esp watching the houseing market for 60 years lol

get a grip man we dont want to know what you think about the houseing market esp with negative attitude like yours.

hereshoping

The house they don't want to live in anymore, yeah...

In case you haven't noticed most of us are plnning a pretty major relocation

Jasonmb

Where are you off to ???????

michmel

I know it's hard to hear this bad news at the time of you wanting to sell your house, but it's reality right now for you in the UK.

I have been investing in and out of property since the 80's and my advice, that's if you'd like it, would be this:-

Take a look at the comparable properties in your area, what are they listed at?? THEN, most importantly take a look at the land registry records what was the last comparable sold for?? OR take a look at www.propertysnake.com or co.uk one of those. You need to ascertain what the last comparable property sold for and when. If a comparable property was sold recently then you could place yours in a similiar margin to that one or less to sell quickly. IF a comparable sold but was a few months back then drop yours around 5k - 10k less. IF you want a quick sale and don't want to chase the market down then that's my advice. The market will start to decline v. quickly in the next 6 months, something like -15%, so hold on the for downward ride, it's coming.

Also, IF you can keep hold of your property and long term rent it out and don't need to sell then my advice is keep hold, for a long term investment. You never know you may want to return and at least you'll have a base to go back to.

I wish you all lots of luck and hope your dreams come true for you all.

CynOpt

Sadly I need to join this thread.
We are putting the (My OH's ) house on the market tomorrow.
We were going to rent to a nephew, planned for last 6 months but he dropped out 2 weeks ago, and we've (99% OH) been getting the place together for a sale since then, cos getting a rental agent and all that b*ll*x would make it renting it less sensible money-wise.

As the tickets are already booked, we're flying on 5th of May regardless.
Its going to be a stressful 8 weeks. No idea what we'll do if we dont get some nibbles.

But the estate agent seems optimistic. They've sold quite a few round here in the last 4 weeks, and we're in the ftb price range, so hopefully that will help.
We'll try the old drop it 5 grand after 2 weeks trick. Then another. Then we'll just have to get onto the rental agents and take the hit.

Oh yes, just found out we have to pay 2K for selling before July too.
I still hope we do tho!!

Good luck to everyone selling!!!

Jasonmb

Good Luck with the sale, sounds promising if your EA has already sold a few, APPARENTLY Easter is a good time, there are quite a few of us with our fingers crossed for some viewers and sales over the next few weeks.

Reducing is a good idea, a lot of us have already done that, some more than once to try and entice some buyers out of the woodwork.

Fingers crossed

Tracy