No relief for first-time buyers as house prices to keep rising

[tess85]

Aah ok. I see

 

[Lil Skater]

Sorry, i'm not too great with my wordings at times, you may see it quite often!

 

[Rockstar]

Its not investor's that are causing the rapid rise in prices IMO, its OO'ers primarily. No investor is paying 10% above reserve with yields comparable to bank deposit rates.

In my neck of the woods it's mainly OO'ers purchasing rental properties off investors which is creating a lower vacancy rate - according to the local RE agents. Hmm - time to adjust those rents up again.

Thing is - here we are not seeing rapid rises in prices though the market has been stable for some months.

 

[blaster]

A $250k house in werribee in 1996 would have bought you a big house big block, i would have thought house and land packages out there would have been round the $120k-$150k mark...these are the ones which would be round the $$250-300k value today....but i do agree that buying in Williamstown 13 years ago would have been better for $$$ gain, if you had a $250k budget back then,
Cheers,
Nathan

Yeah well thats not bad then is it. I had friends building there around then myself. His was a bit bigger and grander but from what my brothers said.
Still , I think for example Werribees time might well be in the near future actually as it's practically a city in it's own right these days and with the inner getting so dear.

 

[MichaelW]

I'm soon to be a first home owner, and there's no complaints here, it's still easy to buy a cheap house, just got to look in the right places people, get off your high horse..blah!

Lil Skater,

Congratulations! I know your mum must be proud

That's an awesome achievement given your age. Well done, you should be proud.

Cheers,
Michael

 

[skater]

Lil Skater,

Congratulations! I know your mum must be proud

That's an awesome achievement given your age. Well done, you should be proud.

Cheers,
Michael

LOL! Not yet. We have a partial deposit, but she's now looking for a full time job.

When she said soon, she means 'as soon as I get the serviceability'. Here's hoping prices don't rise too much in the mean time.

 

[craigb]

today was announced that 295,000 new births in a year in australia, Gee! big numbers , got me thinking that say in twenty years , not including immagration, there needs to be another 140,000 homes built, and if the med price is about 500k now that would/should make 2mill med price in twenty years or $2000 wk for rent,

 

[Aaron Sice]

in that case, up the values by 25% and decrease the yield by 25% and that's about right.

 

[craigb]

Sorry, i'm not too great with my wordings at times, you may see it quite often!

What she is saying is she spells ****! well me too!