With a bit of luck, they are past the first divorce , which would prevent forced sale , good for everyone but the lawyers, and state governments
Definitely going lower in the sunny coast hinterlandIs the house price crash finally here or just a blip. I suspect the latter, or perhaps somewhere between the two.
My area in the Swan Valley still "seems" buoyant, properties still going fairly quickly at good prices, but I get a elsewhere in Perth it is not so flash.
Thoughts on your own areas?
Sydney home prices plunge amid interest rates warning - realestate.com.au
The Sydney housing market has become trapped in a downturn, with home prices falling significantly in some areas since late last year.www.realestate.com.au
It seems unreasonable that the frenetic activity and price increases of recent times could continue without some sort of correction... Assuming that there isn't some massive extraneous influence... hyper inflation, hyper immigration, hyper economic growth?
www.abc.net.au
www.abc.net.au
Sounds like property is still a good investment.
Australian immigration is a mess, controlled by business and universities
It seems beyond either the wit or the political muscle of Australia's political leaders to set an immigration target, let alone to meet it.
The only things with which the level of immigration seems to have any connection are the revenue needs of universities — starved as they are of government funding — the demands of business for more consumers and cheap labour, and the hunger of the property sector for buyers and renters.
In the 12 months to June 2024, net migration totalled 444,700. Twenty-five years ago, the natural increase was running at 120,000 a year. The babies then would now be looking for a house. Total housing demand now would thus be about 560,000 people.
Dwelling completions in the year to June totalled 177,022. Assuming there are 2.4 people per dwelling, that's an annual housing shortfall of roughly 56,000 units, although it's probably more than that because the 25-year-old families wouldn't be 2.4 yet: they'd mostly still be two.
@sptrawler I don't know if it just me and my frugal upbringing, but these days everyone has to have a mansion as the first home with the big 4wd, boat and Harley.The unwashed masses are being conditioned for a different 'normal'.
https://www.msn.com/en-au/news/aust...S&cvid=79bef1db7aca4754a93f15f051e1bdc3&ei=26
Extra-long loan terms could be a reluctant but necessary choice for mortgage holders battling against massive monthly repayments, according to new research.
One in three Australians say they would consider a "mega mortgage" with a 40-year term to reduce their repayments – but experts have warned this could cost hundreds of thousands more in interest.
I told my mum the other day about people expecting everything without any sacrifice, and asked if she remembered the cars we had with big rust holes in the floor. I'm glad I'm getting old, when I see young families with a $40K four-wheel drive and they complain about house prices, I walk away like I'm senile because I know they'll never listen to what I have to say.
well they DID vote them in (allegedly ) unless you are claiming Australian elections are rigged ( and they MIGHT be , they have certainly messed with electorate boundaries often enough )
@JohnDe Tongue in the cheek or just plain changing foot in the mouth.
We tent to vote for the local rep whether he/she be red, white, blue, green or whatever.
So because your local MP is cleaning the local river, going to the school bbq and repairing potholes in mainstreet, they deserve to be elected regardless of the party they are in and whether that party will suppress freedom of speech, waste billions on submarines and bend over to China while increasing fed taxes?
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