The election result has created what appears to be a whole new landscape for property. Negative gearing changes are out and the change to the capital gains tax are not happening. These are likely to have a positive effect on prices, but how big will it be?
The Reserve Bank is expected to cut interest rates when it meets on June 4. And quite possibly again in July. So the demand side of the picture looks stronger than it has for a while. Still, it’s worth being wary. There’s a lot of stock for sale this weekend. A total of 1933 homes are up for auction, double the number for sale last weekend, when the election was being held.
“Crucial” Lol 😂
Clairvoyants at work again. Prices are still at insane levels. For housing we should only be borrowing 3 - 4 x times our annual wages, 5 x times maximum-That's normal. Aussies are brainwashed into the debt cycle via FOMO & believe manipulative Brokers/Agents who pump the industry
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There are 80,000 reasons why Australia's property market will struggle to bounce backAustralia's ailing housing market got a triple tonic this week, but there are doubts over just how fast property prices will recover. They don't need to bounce back. They're over-priced enough as it is. But who gives a stuff about the rest of us who can't even break in, right? Supply only outstrips demand because the Banks have turned off the finance taps. As soon as they start lending again, pent up demand will vacuum up those 80K appartments quicker than they could build another 80K! If you cop a look at some of these shitholes they are flogging for 1m plus, you'd be out of it years ago. Point being, what do you call a pile of greedy fucks trying to get out of the market quietly? Sounds like it should have a name.
Source: theage - 🏆 8. / 77 Read more »
There are 80,000 reasons why Australia's property market will struggle to bounce backAustralia's ailing housing market got a triple tonic this week, but there are doubts over just how fast property prices will recover. 80000 ? would that be the number of badly designed units that all look alike have no solar panels or rainwater storage no gardens no walking distance bus train shops library schools parks etc Has any reporter actually asked the Premier what her Fair Trade Minister has done since the Opal Tower fiasco? You would be an imbecile to throw your money away on the junk being constructed now. Labors fault that's right the LNP won!
Source: smh - 🏆 6. / 80 Read more »