Predictions on the Canberra market
- Thread starter nomorework55
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Prediction : next election liberals win and slash public service numbers (hopefully not me) and house prices plummet. Canberra becomes bankruptcy capital of australia..
This has been hashed and rehashed in a large number of threads. Do a search.
But in essence - it is a pointless worry. Generally when ANY government reduces the size of one dept, all it means is an icrease in a different one and a reshuffle of resources. Sometimes (as in the GCF) it may mean a 'hold' is put on recruitment - but the overall numbers either remain or still somehow find a way to increase, just at a slower rate then normal. Also this is always a 'temporary' set back and inevitably things return to status quo.
Truth is, you don't have to like Canberra. I hated it before I moved here, now I could see myself living here forever. It is amazing how quickly you get used to spending $5 on a cuppa and $15 on a salad sandwich.
But if you are so convinced that housing here HAS to plumet, I think you are deluded or so completely wrapped up in your our negative bias you cann't see the truth. The truth is no matter how much you love or hate canberra, this is the Nation's Capital city. The Politicians, the government, have a vested interest in ensuring it doesn't just survive, but thrives - if things do start to look bleak (which I really doubt, but hey for arguments sake anything is possible), do you really think those pollies (both state and federal) are just going to sit by and let things get too bad??? Do you know how many of them own real estate here????
But like I said, if you don't like Canberra, fair enough - don't buy here. Canberra has a huge transient population made up of many people who wouldn't want to stay here. But don't assume that because that is true there isn't an equally large % of the population that love Canberra and wouldn't dream of going anywhere else, and have an expectation to retire here - and certainly don't forget those who were born, reared and raised in Canberra and have never even visited the other side of town to go shopping, let alone considered moving out of state altogether.
Prediction : next election liberals win and slash public service numbers (hopefully not me
Prediction: next election liberals win and slash public service numbers (hopefully not you
) and house prices stagnate, just like during the 1990's. This happens only a few years after a big boom, just like during the 1990's. House prices go nowhere for 8 or 9 years, just like during the 1990's. Smart investors spot value, and gradually buy in, and thus make big gains when the market turns up, just like during the 2000's.This has been done to death. If you don't like Canberra, don't buy here. But I've thought long and hard about all this before, and so far am incredibly happy with the performance of my investments. There is way too much demand, and artificially constrained land release, for there to be a genuine crash in Canberra.
Canberra will continue to perform strongly. Everything is perfectly aligned for that to happen. The work is there, the money floats around the economy like crazy and from that, people want to live in convenient places.
Yes Canberra is clean/safe/quiet/tidy and pretty handy to Sydney, the coast and the snow. A good place for raising a family without a doubt. The reliable work is there, it means a good overall quality of life for many people, earning more than they could elsewhere.
Sure coffees are a bit of a rip off, but that's not a huge drama, buy a nice Saeco or similar machine and make your own. Problem solved. I loved my lifestyle in Canberra, only thing that sucked was not being able to do too much gardening as it never rained enough. Well that problem's solved these days!
Ahh the gerkin report. Stupidest thing ever. Yes why would IT contractors who could (a) be starting up their own multi-million dollar businesses during a huge global IT boom, or (b) earn the same in a beautiful coastal location.... move to Canberra? Well the answer is because the contracting dollars are huge there. That's why IT people move there. Without those dollars, no they don't move to Canberra and yes the IT skills leave town. Then critical projects don't get delivered. So the gerkin report has achieved the effect that it was always going to have, that is to create a temporary skills shortage until they then re-increase the IT budgets and get everyone back in town. The contracting market is already huge again so nothing's changed and nothing ever does in Canberra.
Yes Canberra is clean/safe/quiet/tidy and pretty handy to Sydney, the coast and the snow. A good place for raising a family without a doubt. The reliable work is there, it means a good overall quality of life for many people, earning more than they could elsewhere.
Sure coffees are a bit of a rip off, but that's not a huge drama, buy a nice Saeco or similar machine and make your own. Problem solved. I loved my lifestyle in Canberra, only thing that sucked was not being able to do too much gardening as it never rained enough. Well that problem's solved these days!
Ahh the gerkin report. Stupidest thing ever. Yes why would IT contractors who could (a) be starting up their own multi-million dollar businesses during a huge global IT boom, or (b) earn the same in a beautiful coastal location.... move to Canberra? Well the answer is because the contracting dollars are huge there. That's why IT people move there. Without those dollars, no they don't move to Canberra and yes the IT skills leave town. Then critical projects don't get delivered. So the gerkin report has achieved the effect that it was always going to have, that is to create a temporary skills shortage until they then re-increase the IT budgets and get everyone back in town. The contracting market is already huge again so nothing's changed and nothing ever does in Canberra.
You must be single, no children, with limited group of friends, don't like sports and have a limited interest in academic endeavours, otherwise your opinions would be drastically curtailed, IMHO.
Canberra is a great place to live, and given the opportunity, I would move back there without hesitation!
Do you know how many of them own real estate here????
I thought it was about the only place they don't own property in Australia? Cuts them back on the travel rorts and living allowances.
A lot of pollies own property in Canberra but then rent themselves while renting their IP's to other pollies.
So I read some time ago... with examples of who owned property.
Just back in Brissie from a Canberra visit an hour ago.
I couldn't find much that was going to hold back the market housing wise. And with the green's now holding a few positions in govt housing release is only going to get slower (we may well see records being set for how many EIS's can be done per greenacre housing site)
We're in Bris at the moment as I'm not a huge fan of the cold. However once we have kids and they start reaching school age we'll most likely head to Canberra again. It's just too easy - good schools, great sporting opportunities, good academic opps, etc.
I couldn't find much that was going to hold back the market housing wise. And with the green's now holding a few positions in govt housing release is only going to get slower (we may well see records being set for how many EIS's can be done per greenacre housing site)
We're in Bris at the moment as I'm not a huge fan of the cold. However once we have kids and they start reaching school age we'll most likely head to Canberra again. It's just too easy - good schools, great sporting opportunities, good academic opps, etc.
Totally agree. Canberra ticks a lot of boxes for raising a family. And while there is no beach etc, it makes for exciting family weekend getaways. I got a little sick of the cold too, but it sure ticks a lot of other boxes. Shooosh!!!
