Now it is official - Adelaide woke up finally.
Strictly speaking - it woke up long time ago, but the fun thing with all property booms - first buyers snap up all bargains, median price "goes down" and media howls about "property downturn".
When median is up - it basically means "you missed all the real bargains".
While you would not expect such a savage jumps in prices like in Sydney, 1.6% growth per month - it is quiet respectable. Sydney have run out of land long time ago, Adelaide still has plenty - there are only few kinds of land are in short supply.
Choice is yours - you either pay someone else's mortgage (aka rent) or your own. But we are entering the time when houses of most people will be earning more than occupants themselves at their day jobs.
If you do not want to bend over and grab money from under your feet - feel free to hang the label "troll" on me and dream that one day beer truck will roll over on your street.
Oh, BTW. RBA MUST HAVE cut interest rates in April, but they decided to demonstrate how irresponsible they are (I repeat - I would not trust ANY member of RBA board to clean my toilet).
Now, if Sydney Morning Herald (the most anti-rate cut and anti- property boom newspaper in the country) says they will cut..... then THEY MUST.
But if they would not do what they MUST do -I would not be surprised. Normally, interest rates in this country should have been at 0% three years ago for economy to have even a slightest chance.