House Prices!!!

[Andrew from Vista Financial]

Quite a strong debate on another forum this one!

 

House prices in Adelaide.

 

Any views on this.

 

Personally in my opinion, I am holding off from buying as I would have to take quite a big mortgage. I feel that the interest I would pay in the short term and any capital growth ( Generally I do not feel there will be in the short term) means I will be financially better off renting. Obviously a slightly different argument for cash buyers!

 

I have seen prices slowing for a few months here and some asking price drops, just trying to get some other opinions.

 

Look forward to hearing them.

 

Andy

[Guest muppetbro]

so whats your opinion mr morgtage advisor ?

 

fancy a heated debate :GEEK:

 

p.s. i dont need to eat bread crusts anymore....

 

maybe a good time to retrain

[Guest Sharon and Paul]

HI Andrew, god i hope your right when you said that house prices are dropping in Adelaide?, can;t sell bloody house here , getting so pissed off ,got visa ready to go! But to your question, rent untill you find a house you want to commit to ?

[Guest Sharon and Paul]

so whats your opinion mr morgtage advisor ?

 

fancy a heated debate :GEEK:

 

p.s. i dont need to eat bread crusts anymore....

 

maybe a good time to retrain

Hi muppet i get my butler to cut my crust off

[Guest Libby1971]

I don't think the house prices are dropping.

 

It is winter here, the housing market is slow. Last year the housing prices zoomed up as more and more Brits arrived, wanting to buy. As the housing prices are dropping fast in the UK, Brits are currently slower to arrive so the demand/ supply issue forcing prices up isn't in motion at the moment. With the numbers of Brits on their way to Adelaide, there is no way that the house prices here are going to cope with the influx and go down.

[Guest graandjac]

:)Either way some one is going to put a negative spin on it. As with every where else in the world , not all areas are slowing out here . Certain suburbs are still rising at the same pace as some are slowing, but the scare mongerers will spin it somehow....eh Mr bro, but then you have been and gone is ther any use for your negativity any more...??!!, after all there was no use to it when you were here.

 

Cheers Graham

[Guest taylor family]

We have just had 2 families that are friends 1 going back to uk and 1 moving up to qld . One had thirty couples to opens and got 1offer which was a lot lower than asking price and could not get them up to asking price. The other just met asking price as to say 6months ago houses where getting 6 to 12% above in most areas and banks where lending 100% mortgages as now banks are being caustious as to a global reccesion. and dont forget this is a thread about house prices and not to slag each other of.

[Guest graandjac]

We have just had 2 families that are friends 1 going back to uk and 1 moving up to qld . One had thirty couples to opens and got 1offer which was a lot lower than asking price and could not get them up to asking price. The other just met asking price as to say 6months ago houses where getting 6 to 12% above in most areas and banks where lending 100% mortgages as now banks are being caustious as to a global reccesion. and dont forget this is a thread about house prices and not to slag each other of.

 

I totally agree;), but a quick look through the posts history and you will see what i mean , we have had it for over the past year:pcheers Graham

[Guest morgie@51]

Bound to be an interesting / heated one this! For what it's worth here is my 'twopenneth'.

To discuss whether house prices are rising in Adelaide is a little simplistic (no offence Andy). After all if you view Adelaide as stretching from say Noarlunga in the South to Andrews Farm in the North then you are considering an area with a population of around 800,000 people. With the variety of types of area in that size of urban sprawl then at any time, irrespective of perceived general economic factors, some areas will be doing well in terms of house price increase and others not so well.

I'm pretty sure that at the moment there will be areas within Adelaide where prices are still increasing strongly due to micro-economic factors. Despite all the hype in the UK there will be 'hotspot' areas where due to specific factors prices are still holding up and increasing. Likewise there will have been areas wondering where the much talked about strong price rises were in the past.

As with everything when considering whether to buy now or later a lot depends on your own circumstances, where you are looking to live and your own outlook. I think one key element for everyone emigrating is not to have their mind set too firmly one way or the other at the outset. We came with a plan not to buy for close to 12 months after we arrived. However having been here 3 months now and living where we are for the last 6 weeks we are in the process of buying a block of land.

We changed our plans after being able to research here in person and having seen the properties currently available. We plumped to buy now because we saw a single block of land available that will allow us to build a home to suit us as a family and give us the outdoor space that we want to have for the lifestyle we envisage for us as a family. Those sort of houses just aren't readily available in our area at the budget we have. Admittedly we are lucky in that we have a reasonable level of equity from our house in the UK which we sold at the end of 2007 so won't need an enormous mortgage. Had we been a lot younger and at a different stage of our lives (eg a young couple with fewer or no kids and less equity built up over the years) then our decision may have been different.

[Liz and Kris UK]

so whats your opinion mr morgtage advisor ?

 

fancy a heated debate :GEEK:

 

p.s. i dont need to eat bread crusts anymore....

 

maybe a good time to retrain

 

 

Thinks someones got a chip on their shoulder....

[Guest muppetbro]

"It is an open forum.......problem being that some people who shout loudest ( count the posts ) cant accept someone elses opinion "

 

i quote....

 

grajaac i think you fight the voices in your head telling your consciounce you wish you were like me ........i lived the dream i left the dream but i was never bought by false rose tinted forum talk some of which is little removed from total misleading fabrication -

 

im sure your a decent bloke in reality but i do think the forum is starting to take over your every waking hour....dglmoore reminder!

 

i hope people read and take in the excellent advice/interpretations over on the yellow site - going in blindly could cost you for the rest of your life financially and never see you recover - i would and no one would ever wish that on anyone chasing their dream

 

soon ill have 2 chips - just waiting for the crash after xmas i reckon its going to hurt big time - capital gains tax very generous here.....8 years retired that is my dream

 

i left the comfort zone and i loved that - i love you all

 

mart

[Carole Jolly]

"It is an open forum.......problem being that some people who shout loudest ( count the posts ) cant accept someone elses opinion "

 

i quote....

 

grajaac i think you fight the voices in your head telling your consciounce you wish you were like me ........i lived the dream i left the dream but i was never bought by false rose tinted forum talk some of which is little removed from total misleading fabrication -

 

im sure your a decent bloke in reality but i do think the forum is starting to take over your every waking hour....dglmoore reminder!

 

i hope people read and take in the excellent advice/interpretations over on the yellow site - going in blindly could cost you for the rest of your life financially and never see you recover - i would and no one would ever wish that on anyone chasing their dream

 

soon ill have 2 chips - just waiting for the crash after xmas i reckon its going to hurt big time - capital gains tax very generous here.....8 years retired that is my dream

 

i left the comfort zone and i loved that - i love you all

 

mart

 

I am totally lost. Are you saying Adelaide is not the dream you thought it would be???

due to incorrect advice given on the forums???

 

All advice, good and bad, is what I hope is acheived on this site.

 

Carole

[Rachiegarlo]

Mart's viewpoint of his experiences are just as valid as anyone else's, the fact he returned UK side has no bearing on this thread. House prices are a worry to everyone wherever they live, except those not trying to buy or sell, so let's not get personal, even though I'm sure some like a good slanging match at times, it makes others apprehensive.

[Guest thelincolns]

"

i hope people read and take in the excellent advice/interpretations over on the yellow site - going in blindly could cost you for the rest of your life financially and never see you recover - i would and no one would ever wish that on anyone chasing their dream

mart

 

Yeah- there was a VERY GOOD debate on adelaide brits (for who does not know this is the yellow site muppetbro mentioned) on house prices (lots of really good info) and visited the forum today..... to find the whole thread had been deleted with no explanation!!!

 

Well- what can I say. There are people out there who know vital bits of info that might "deter" certain people from migrate to Oz, but their mouths are being duly shut as obviously there are vested interests in getting people down under (not just people on here with businesses, but chiefly banks, building societies, migration agents etc).

 

Anyway, I can tell you that the picture on house prices painted on the thread on the posters on adbrits was perceived to be similar to that of the UK, just delayed of about 6 months- give or take- IMO.

 

Obviously, the housing market is ailing with the same symptoms and also just goes to show that Oz cannot be immune from the same economic downturn that all the rest of us are suffering.

 

Considering the cost involved in emigrating, these hard times are just prompting more careful thought, as Oz has got very expensive, and will become a place where to migrate for reasons other than buying a larger house and being mortgage-free- again this IMO.

 

Curious how Andrew Williams started this thread?

[Guest lynne]

If Australia banks have to take on some of the bad debt which the American banks let accumulate, than house prices will definately go down. Its a case of waiting and see.

 

Who thought 2 years ago young people in England would not be able to get morgages. Today houses that are not overpriced are still not selling as there are no buyers.

 

It has been predicted there are going to be 60,000 properties repossessed in the next 12 months. These figures and times of hardship are going to affect the number of people who apply for a visa and even if they are successful they still need to sell there home.

 

Having watched the Adelaide housing market for 12 months there are a lot more properties now on the market. Also properties are not selling so quick. This may be because some properties were over priced in the first place.

 

The majority of English people who migrate to Adelaide bring with them large cash sums to be invested in Adelaide. If Adelaide is not getting the numbers from England than they will be attracting other people from China etc who have the skills but do not have the capital to invest in properties in the region. This will also have an effect on the houseing market.

 

The true state of the Adelaide housing market will be reviewed as the months and years go buy.

[Guest Rob and Clare]

For my 2 cents worth.... there seems to be 2 schools of thought on the house prices....

 

1. We are definately going to have a slow down or recession at some point and house prices could stall or even fall...

 

2. We haven't seen the full effect of the mining boom in Adelaide as Perth and Brisbane have seen, and with new major mines opening in SA this will improve house prices for the city.

 

Choose whichever one you want to, but for us we didn't like living in rental with the agency coming round every 3 - 6 months inspecting the house and you never get the feeling the house is yours. If the price goes up then great, if it goes down then "oh well"....

[Guest Rob and Clare]

I am totally lost. Are you saying Adelaide is not the dream you thought it would be???

due to incorrect advice given on the forums???

 

All advice, good and bad, is what I hope is acheived on this site.

 

Carole

I think for a lot of people, Adelaide cannot live up to the dream, as over half of the Brits who come out go back, but if your prepared to adapt and change your lifestyle then it can be a great place to live.

 

I still miss some bits of the UK, and after 5 mornings with the temperature hitting freezing, i miss hot water radiators and double glazing. Bring on the summer.........

[Lea]

Yeah- there was a VERY GOOD debate on adelaide brits (for who does not know this is the yellow site muppetbro mentioned) on house prices (lots of really good info) and visited the forum today..... to find the whole thread had been deleted with no explanation!!!

 

The post has just been moved to the debate section - which I think you can only view if you are a member of Adbrits.

 

Lea

[Guest thelincolns]

 

The post has just been moved to the debate section - which I think you can only view if you are a member of Adbrits.

 

Lea

 

Cheers Lea- I did not bother joining.... although still don't understand why putting it somewhere less "visible"......

[Guest graandjac]

I think for a lot of people, Adelaide cannot live up to the dream, as over half of the Brits who come out go back, but if your prepared to adapt and change your lifestyle then it can be a great place to live.

 

I still miss some bits of the UK, and after 5 mornings with the temperature hitting freezing, i miss hot water radiators and double glazing. Bring on the summer.........

 

Totally agree:notworthy:its about adapting...!!, our agent commented when we came over its a catch 22 situation.... if the dollar is strong as the economy this is one of the reasons why we all come here , but on the flip side the exchange rate is bad..!! but if the economy and the strength of the dollor fall then the exchange rate goes up.

 

So whats best bringing more pounds into a falling ecomomy or less to a strong one...????

 

On the time spent on forums....working to hard to spend more than about 1 hour a day on here, even though its winter still enjoying the fantastic outdoors Adelaide has to offer, and even though its cold its so sunny i have my rose tinted specs on most days .

Cheers Graham

[Guest Django]

Curious how Andrew Williams started this thread?

 

He wrote it then posted it.

 

Can I just point out that Andrew is a mortgage/financial adviser. He is not an estate agent or anything else to do with the housing market so why shouldn't he ask the question. After all it will affect his work.

 

Pete

[Guest thelincolns]

He wrote it then posted it.

 

Can I just point out that Andrew is a mortgage/financial adviser. He is not an estate agent or anything else to do with the housing market so why shouldn't he ask the question. After all it will affect his work.

 

Pete

 

Erm.... I have simply asked Andrew (not you) why he started this thread as I was curious- I am sure he read it the right way?

 

In fact, Pete, you just used this opportunity to throw one in to offend simply because I "dared" disagreeing with you previously!!

[Guest Nick11]

I think for a lot of people, Adelaide cannot live up to the dream, as over half of the Brits who come out go back, but if your prepared to adapt and change your lifestyle then it can be a great place to live.

 

I still miss some bits of the UK, and after 5 mornings with the temperature hitting freezing, i miss hot water radiators and double glazing. Bring on the summer.........

 

Totally agree:notworthy:its about adapting...!!, our agent commented when we came over its a catch 22 situation.... if the dollar is strong as the economy this is one of the reasons why we all come here , but on the flip side the exchange rate is bad..!! but if the economy and the strength of the dollor fall then the exchange rate goes up.

 

So whats best bringing more pounds into a falling ecomomy or less to a strong one...????

 

On the time spent on forums....working to hard to spend more than about 1 hour a day on here, even though its winter still enjoying the fantastic outdoors Adelaide has to offer, and even though its cold its so sunny i have my rose tinted specs on most days .

Cheers Graham

 

Graham - don't feel you need to justify how long you spend on here. Rise above it and ignore it.

[Guest caoimhe]

 

Graham - don't feel you need to justify how long you spend on here. Rise above it and ignore it.

I agree Nick as I for one would like to thank all of you who have made the move and still take the time to give invaluable advice to those of us still waiting to get out there

THANK YOU ALL:notworthy:

[Guest Django]

Erm.... I have simply asked Andrew (not you) why he started this thread as I was curious- I am sure he read it the right way?

 

Its called humour. Never mind. You don't normally ask people why they start threads so why is this any different????

 

In fact, Pete, you just used this opportunity to throw one in to offend simply because I "dared" disagreeing with you previously!!

 

Er no. I don't keep a record of who agrees or disagrees with me on any thread. You can disagree with me on everything for all I care. I would have posted that response to who ever wrote it so no need for the complex.

 

I'll leave you to it as I'm obviously not allowed a comment on here as I am a moderator and therefore aren't entitled to have a laugh or an opinion.

 

Pete