Now the Chinese money is gone, will FHOG be increased?

Hi all,

With the First Home Owners Grant ending at the end of June as well as Rudd's backflip on foreign investment rules, does anyone else suspect the FHOG could be actually increased again at the end of this month?

I am seeing a flood of new properties coming on the market, a distinct lack of motivated foreign buyers all coming into winter which is normally the seasonal low for property values.

Does anyone else suspect that Rudd could jack up the FHOG again in order to sustain capital prices at least until the election is done and dusted?
 
the chinese story was a beat up anyway. just like the rich greedy [landlords / mining co's / next months flavour] that pay no tax
 
does everyone in melbourne REALLY think that chinese foreign investment was that prevalent??

I mean honestly?????
 
Witzl,

I barely noticed it around where we live. Bayside and inner southern suburbs.

From newspaper reports and other datasphere sources it appears they prefer the eastern suburbs. I don't follow those markets nor attend any auctions in those areas, not even for a sticky beak.

Perhaps something to do with Feng Shui and aspect and hills/terrain in those eastern suburbs. Not sure.

I cannot see how this has been a major cause and contributed to the heat of the market. It was just Melbourne's turn in the cycle and that is now cooling somewhat. More leisurely picking from here as the frenzy has abated
 
re

Witzl

I believe it was herd mentality. A few months ago, the house prices were rising fast and alot of people became desperate. They wanted to find easy and quick answer so that they can get back to their lives again feeling a bit better. And once again, the immigrants are to be blamed - and this time its the Chinese.

And there are people furiously suggesting that the Chinese could borrow from their bank at 1% to invest in Australia.... well, you get the picture. May be this is the reason why these people could not afford to buy their first home.

And then there are people who wish that the house price would crash by 40%, so that they can then pounce on the market at our demise with their 'savings'. Well, I always tell them this: if you cant afford to get a deposit and a loan when the time is good, then you cant afford to do that when the time is bad either.

Warrenk.2010
 
Witzl

I believe it was herd mentality. A few months ago, the house prices were rising fast and alot of people became desperate. They wanted to find easy and quick answer so that they can get back to their lives again feeling a bit better. And once again, the immigrants are to be blamed - and this time its the Chinese.

And there are people furiously suggesting that the Chinese could borrow from their bank at 1% to invest in Australia.... well, you get the picture. May be this is the reason why these people could not afford to buy their first home.

And then there are people who wish that the house price would crash by 40%, so that they can then pounce on the market at our demise with their 'savings'. Well, I always tell them this: if you cant afford to get a deposit and a loan when the time is good, then you cant afford to do that when the time is bad either.

Warrenk.2010
ha ha ha can afford your place cash but hey i got brains and know when a cow out of milk:rolleyes:
 
Not a hope in hell.

One , even if they could spend the money without getting hung drawn and quartered, most people don't realize they make it back 10 x but it'd force property prices up even further and they don't want that.
And two , it'd encourage even more first home buyers to pay those prices and they don't want that either.

Cheers
 
Sounds like things arent smelling too good in the a###se end of australia:p. Can I just add , you couldnt buy my place with your jealous cash. Because im not selling

yeah at your peril . i still own land with water outright . i sold 2008 . laughing ..prices gone down 90k .. actual sales price not paper story. want details

ps i live inner city perth western burbs .. live in mill $ house (so the paper tells me)
paying $250 a week in rent . with 3 spare bedrooms .
 
Does anyone else suspect that Rudd could jack up the FHOG again in order to sustain capital prices at least until the election is done and dusted?

That would depend on when Rudds money spending machine runs out of cash,
but i think the grant will always be there in one way or another,imho..willair..
 
yeah at your peril . i still own land with water outright . i sold 2008 . laughing ..prices gone down 90k .. actual sales price not paper story. want details

ps i live inner city perth western burbs .. live in mill $ house (so the paper tells me)
paying $250 a week in rent . with 3 spare bedrooms .

I wonder why the bedrooms are empty ???????
 
ps i live inner city perth western burbs .. live in mill $ house (so the paper tells me)
paying $250 a week in rent . with 3 spare bedrooms .
Sounds like a plan to me,maybe write a book everybody in Australia wants to live in the "One Mill" stunner for $250.00 a week,Perth real estate can't be that bad ..willair..
 
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