Property Prices now.

[sueoc]

Hi

At present i find the price of property here hard to accept,in view of what you get for your money.Of course i realise that if you are prepared to move away from the City then this may not be the case.Still,in my opinion House prices are now at a premium and renting,also expensive and anathema to most(including me)seems like a viable option.Anyone else renting and finding it hard to commit to buying?

[The Hallidays]

Heard on the radio that properties in Adelaide were going to increase by 20% in the next 5 years i think it was

 

As we are still living on one wage we are finding it hard to save for a deposit. I know we would qualify for the FHOG but we are still struggling... Would love for someone to say we offer 100% mortgages like they've done in the uk - or even 99% then we could use the FHOG. We could easily afford to make remortgage payments instead of paying dead money out on rent....

Oh well, will keep saving

[scooterdan]

Yep....100% mortgage is my only hope too!!

 

Oh well....i dont mind renting....it breaks they fix it!! At the end of the day its still where i go back to at the end of the day an where all my stuff is!

 

Plus i could never afford to buy as close to Glenelg and city as we live now....and we managed to secure long term!!

 

Dan

[csobrien1966]

Hi

At present i find the price of property here hard to accept,in view of what you get for your money.Of course i realise that if you are prepared to move away from the City then this may not be the case.Still,in my opinion House prices are now at a premium and renting,also expensive and anathema to most(including me)seems like a viable option.Anyone else renting and finding it hard to commit to buying?

 

 

I understand your position and house prices are relatively high but compared to all other states we are still the best state in relation to house prices. Compared to 8 - 10 years ago the prices now are unbelievable! in Adelaide.

 

They do forecast a 20% rise over 3 years. Further south ie Seaford and surrounding suburbs I feel will increase more than that due to the rail extension. This will make it even harder to jump on to the ladder. Its all to do with supply and demand. All our investment enquiries are coming from interstate showing it is still a good place to buy, BUT when do you take the plunge?

 

I worry about my 2 boys being able to afford to get on the ladder in 10 - 15 years time.

[Anne B]

This 20% over 3 years is only a prediction not fact, by a company that prepares data for the housing industry. 3 years ago how many of these 'experts' predicted the Global Financial Crisis.

 

The Reserve Bank of Australia thinks prices will be stagnant for a while - see this article by the ABC Housing stagnation a 'satisfactory state of affairs' - ABC News (Australian Broadcasting Corporation)

 

House prices have risen a lot more than rents, we are renting at the moment and are very unwilling to buy at the moment. See this graph to see how out of line house prices are Delusional Economics