I understand that there is a whole heap of supply of apartments in close to the CBD already complete or very close to finishing. In a couple of years, maybe less there will be bargains in the CBD. Maybe then I will buy in or close to the CBD if there is a genuine oversupply, which is what I expect.
A little further out the supply is OK but there doesn't seem to be an oversupply that I can detect.
Houses out in the fringe suburbs - I really don't know. There are still 3 and 4 bed homes for much less than $400,000 which is about 3.5 times gross household income for those people who are buying those homes.
Sunshine Coast and Gold Coast - buying is still under replacement cost by a long shot.
Ipswich still a tough sellers market - it's all pretty cheap, much less than Brisbane.
Darwin - I'm told that there are 3000 apartments coming on stream shortly in Darwin where sales are about 1000 per annum. That should cure some supply issues in the NT.
Any expressed market opinion is my own and is not to be taken as financial advice
Anyone can purchase property. You just need to set your expectations a bit more realistically. No-one can afford to come out of Uni and purchase an inner-city mansion. Buy a property out west or on the Central or South Coasts. Live there and commute like I did for a few years to build up some equity and then move back in.
There also needs to be a recognition that if people don't have the income to support a home loan, then maybe, just maybe, they cannot afford and cannot have what they want. No amount of lobbying left-wing government to get people into property (by giving then loans they can't repay or killing other people's property values) they can't afford is going to solve the problem.
Fortunately, even ALP politicians are not stupid enough to fall for property wealth-killing lobbying. Yet.
When I migrated to Australia in 1995, the laws were that people could not purchase property here unless they were permanent residents or citizens. I never came across a real estate agent checking this out - maybe this needs to change.
If people have purchased property illegally, they should be required to sell or the property re-possessed and sold by the state if they don't.
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