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Australia Market Trend - Your Opinions Please

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  • Australia Market Trend - Your Opinions Please

    Hi People,
    Our family will eventually end up in Australia in a few years. 99% Queensland coast area.
    Keeping an eye on things at present via the internet and brief visits.
    Am i noticing more asking price reductions for coastal property now then say a year ago ?
    If so that is good for us as buyers - (exchange rate not helping tho but thats another story)


  • #2
    There has been articles posted in the last few days stating that prices in Australia are dropping and others that prices are shooting up.

    Who really knows?


    • #3
      IMAGINE a country of about 25m people, democratic, tolerant, welcoming to immigrants, socially harmonious, politically stable and economically
      successful; good beaches too. It sounds like California 30 years ago, but it is not: it is Australia today. Yet Australia could become a sort of
      California—and perhaps a still more successful version of the Golden State.
      It already has a successful economy, which unlike California’s has avoided recession since 1991, and a political system that generally serves it well.
      It is benefiting from a resources bonanza that brings it quantities of money for doing no more than scraping up minerals and shipping them to Asia.
      It is the most pleasant rich country to live in, reports a survey this week by the OECD. And, since Asia’s appetite for iron ore, coal, natural gas
      and mutton shows no signs of abating, the bonanza seems set to continue for a while, even if it is downgraded to some lesser form of boom
      (see article). However, as our special report in this issue makes clear, the country’s economic success owes much less to recent windfalls than
      to policies applied over the 20 years before 2003. Textbook economics and sound management have truly worked wonders.


      my duff comp. is refusing to run chrome or firefox, so am left with explorer, which is so baffled by the new PT formating i have to go look for the post button about 5 screens off to the right of the computer
      have you defeated them?
      your demons


      • #4
        Hi Hec
        tried to post and lost the info unfortunately.

        I live and invest in Australia. The market is currently flat, Aus $ falling back and some banks have since yesterday reduced fixed interest rate.

        There is uncertainty in the market and investors are holding back. I would say it is generally a buyers market.

        I is possibly a good time to sit back and watch as it may actually fall back further.

        Check out this forum - somersoft forum, some experienced aussie investors on this and it will help you get an idea on what is happening.

        Many opportunities in QLD, Redcliffe area was incredibly popular with investors as earmarked for growth, I believe this market has also fallen back and worth a look at.

        Have you identified specific areas in QLD that interest you?

        Cheers, SS


        • #5
          I live on Sunshine Coast and this is a beautiful place to live and nice community. Prices have been falling for the past 2 years and it is difficult to know how much further they will go. The supply is adequate without being a deluge of listings. Demand is slow and this isa country town and parts of Qld had severe floods. A lot of people that move here rent for 1 year and then look around or build as costs are competitive for new houses. Depends on your price range and areas you like to live.


          • #6
            The search for one in a million

            This house at Kingston Beach, Tasmania, recently sold for about $1 million. Source: Supplied

            OWNING a $1 million property just doesn't have the same cachet any more. In fact, it's almost common.

            So, if you've managed to scratch together that magic amount - or the borrowing capacity to get it - what sort of property does a cool million buy these days?
            Well, for starters, you can forget about Perth's Peppermint Grove, where the median house price is $4.6m, according to property research house RP Data.



            • #7
              This should help work out most affordable States in Australia


              Tasmania has cheapest housing in Australia, unfortunately employment is an issue.

              Peppi Grove is for the super rich and will never be in the reach of most, who cares when you are spoilt for choice, as a previous poster mentioned Sunshine Coast is affordable and a piece of heaven, with possibly the option of working in mining towns in QLD around the Bowen Basin.

              Cheers, SS


              • #8
                Perhaps those who are interested in McMansions should have a read of this article.
                "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx


                • #9
                  there are a number of major areas in Australia where you'll find very expensive housing prices.
                  If you look around at other areas though, you may find prices dropping. And yes, as the poster above said, there are some news articles that say that prices are rising and others say that they are falling - but you should examine more the specific areas that you're keen to invest
                  Australia is a big country and the trends as a whole don't fit for every single part of OZ (even within QLD)


                  • #10
                    Get good legal advice, A home cost hundreds of thousands of dollars. A lawyer costs hundreds. Talk to an independent lawyer before you sign a legal contract. This is the best suggestion one can ever get. Be careful and get the best property there is without any downsides in the long run.



                    • #11
                      Since you're coming from overseas and planning to buy/invest in australia, I'd also like to warn you about the potential taxes/fees that you're going to have to overcome - in particular stamp duty! which can be in the tens of thousands of dollars