Guest kangomik

Housing boom or bail

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    Guest kangomik

    Well it's been a few months and i cannot find the thread. There was some debate a few months back regarding the collapse of the housing market here in SA. I think we gave it untill december????????

     

    So whats the score?

     

    As i see it at the moment it's a buyers market, IF, the seller is prepared to drop their price. But people selling houses are weird creatures and it seems many would rather wait than take a low offer.

    The confusion comes in when you look at houses on the market for a long time, some have dropped nearly 60K near me. While some 2 bedroom villa's on 250mtr plots go for near 350K and go straight away.

     

    Land prices seem to esculate so quickly that if you blink it could cost you 10K!

     

    Will the new government bank thing change things?

     

    Will the raise in interest rates kill things?

     

    One thing i do know for sure.

    It's a funny old game this housing market in Aus.:biglaugh:

     

    One last question, if you HAD to convert your sterling into Oz dollars to buy, are you getting what you thought you would in regards to the house you thought you would have in Oz?

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    Hi Kangomik,

    Yup,it really is amazing here!Many houses here are quite frankly outrageously over priced,and Agents will try any trick in the book to shift them,using almost comical methods that take Bullshiit to a new level.:err:Some of the dumps out there have to be seen to be believed,there should be a misinformation law here for Agents.Nice houses are Megabucks at present,unless you are lucky.I can't see things changing too much any time soon.

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