I think I may be losing faith — I need some positive reinforcement.
I have been putting offers on what few properties that are popping up in my somewhat limited price range, but the low end of the market, especially units, is going crazy. Recent figures say that units in Adelaide have gone up 20% in the last six months. That is unprecedented.
The interest in Adelaide has exploded, which is echoed quite clearly, with recent posts on this forum. Adelaide seems to be mentioned in every property conversation. Perhaps I should focus my time and energy elsewhere?
I recently put an offer in a unit that had 18 other offers on it. At first I was skeptical, thinking the agent was trying to up my offer, but, a 20% rise in six months ... in units alone.
What hope have I got? Where is the market going in the next 12 months?
I have been a member of the forum since 2004, when I was in university, and started earning an income at the beginning of 2006. Starting from scratch is so slow, and it feels like the market is just passing me by. Saving rather well, I think, in the last 18 months, I have come a long way, but I am still restricted to the low-end of the market, in which hardly any new stock shows up, and what does is snapped up extremely quickly in the fierce competition.
Perhaps I am losing faith. Perhaps my mindset is all mixed up, seeing the success stories of others, and finding it a struggle for myself to simply get into the market with my first property.
Am I losing faith needlessly? Am I too impatient? Is anyone else finding it difficult?
...End rant.
I have been putting offers on what few properties that are popping up in my somewhat limited price range, but the low end of the market, especially units, is going crazy. Recent figures say that units in Adelaide have gone up 20% in the last six months. That is unprecedented.
The interest in Adelaide has exploded, which is echoed quite clearly, with recent posts on this forum. Adelaide seems to be mentioned in every property conversation. Perhaps I should focus my time and energy elsewhere?
I recently put an offer in a unit that had 18 other offers on it. At first I was skeptical, thinking the agent was trying to up my offer, but, a 20% rise in six months ... in units alone.
What hope have I got? Where is the market going in the next 12 months?
I have been a member of the forum since 2004, when I was in university, and started earning an income at the beginning of 2006. Starting from scratch is so slow, and it feels like the market is just passing me by. Saving rather well, I think, in the last 18 months, I have come a long way, but I am still restricted to the low-end of the market, in which hardly any new stock shows up, and what does is snapped up extremely quickly in the fierce competition.
Perhaps I am losing faith. Perhaps my mindset is all mixed up, seeing the success stories of others, and finding it a struggle for myself to simply get into the market with my first property.
Am I losing faith needlessly? Am I too impatient? Is anyone else finding it difficult?
...End rant.