Credit Crunch hit Adelaide?
Hi all I wondered if the credit crunch has hit Adelaide in the way it is effecting the UK?
Has anyone noticed a fall in house prices or is it still a seller's market?
It feels like the UK is going closer to a recession by the minute and I wondered what the feeling is about the bank meltdowns in the UK and USA.
Thank God (and I'm not religious) we sold our house 2 years ago and have lived in rentals since, waiting for visa (which we got 27th August:v_SPIN:) but my heart goes out to everyone who is struggling to sell and pay mortgages at the minute.
Any armchair economist thoughts and views greatly appreciated
:)No one seems to know how it is going to go here, prices do seem to have slowed down but no where near the uk, its only a matter of any day before the words "we are in recession are used in the uk, oz seems to keep more of an eye on the far east market more than the USA so its not all doom just yet.
prices have slowed down here but now with an interest cut and summer kicking in looks like it will be on the rise again. Prices were mad early on in the year and alot of peoplke looking to buy. We just bought a couple of weeks ago as we felt it was more"buyer friendly" recently. It looks like the market will start turning in favour of the seller from now on.
the credit crunch has not significantly hit adelaide (or australia) in my opinion. in adelaide, house prices have flattened slightly this year, but the market is still red hot. it is considered one of the most bouyant and strong markets in the whole country. Rates have recently been dropped a couple of times, and more is expected in the future. Overall Australia has coped very well and although there are people struggling to pay mortgages, most people remain calm.