Buying a House

[LaughingKookaburra]

Interest rates won’t go anywhere in the near future. The economy is on its knees and needs to continue generating stimulus. The minute you start increasing lending rates then you are cooking the golden goose. Banks don’t give out rock bottom fixed rates for 2-3 years just because they are generous. When those dirt cheap fixed rate terms decrease to one year or less then you know rates are starting to shift North.

With current housing prices, there is affordable housing still available, but you won’t find it within 20km of the City in SA and that’s getting further out by the day. It’s no different to the 4 bigger Australian Capital Cities, however it’s now finally caught up here.

[Dutchy]

Fixed rates have already started rising, best indication of where variable rates are heading

[Jimmy_041]

Fixed rates have already started rising, best indication of where variable rates are heading

Variable is still a way off (IMO) - mid 2023

Make hay whilst the sun shines peoples - pay extra - as much as you can.
Make sure you have a redraw and you cant go wrong

[Pag]

Two auctions we've visited in the last six weeks:

Athelstone - $695k price guide - only two bidders, sold for $860k
Wynn Vale - $640k price guide - only two bidders, sold for $776k.

Given up for a while.

[Booney]

Alberton and Seaton have both had homes tip over $1.1m.....nice homes, but $1.1m?

[amber_fluid]

Alberton and Seaton have both had homes tip over $1.1m.....nice homes, but $1.1m?

That appears to be the norm in alot of suburbs these days.

[gazzamagoo]

Breaker Street St. Morris, was going to bid, decided not to,
thought it would go for around the mill,
sold for $1,330,500,
what a joke.

[gazzamagoo]

Getting over a mill in Daw Park now too, that's cray cray

[Footy Chick]

Breaker Street St. Morris, was going to bid, decided not to,
thought it would go for around the mill,
sold for $1,330,500,
what a joke.

Yeah a mate of mine who lives not far from there had a neigbour sell their house with an asking price of 900k and ending up with 1.2 or something horrific like that

[Pag]

What industries are currently receiving 20% pay rises?

Can't continue at this rate, surely!

[gazzamagoo]

What industries are currently receiving 20% pay rises?

Can't continue at this rate, surely!

In my neck of the woods, the buyers are cashed-up Indians &/or Chinese.

[gazzamagoo]

Paying overs because of the FOMO effect.

[Booney]

A $500k mortgage ( in reality quite modest ) would be saving upwards of $400 p/month on current interest rates compared to the last time that loan was refinanced. People are putting that $400/month back in as well as anything they would normally spend on travel or entertainment ( One o/s trip + a couple of big ticket concerts + some footy weekends away = $10-12k or more ) > $1000/month on top of the $500 above and people are going after the forever homes.

[whufc]

Just move out to the country and grab a 3 bedroom house and 2.5 acres of land for $300k at most.

[mighty_tiger_79]

Just move out to the country and grab a 3 bedroom house and 2.5 acres of land for $300k at most.

You want us as neighbours???[emoji15]

Sent from my SM-G781B using Tapatalk

[Dutchy]

What industries are currently receiving 20% pay rises?

Can't continue at this rate, surely!

Its a surge which will slow down, will have a bit of steam yet but probably slow leading into next winter.

[Corona Man]

Prices in Melbourne are just stupid…

We bought our place 12 months ago.

Last week very similar property just around the corner sold for about 25% more than we payed for ours.

We have done a bit to our joint so far too. Plantation Shutters throughout, new deck, garden shed to go in. Still to do a small kitchen Reno, along with a built in bookcase in the hall and I’d like a built in desk/bookcase in my home office. Then we’re done…. That will add some good value to our property.

A month ago place 5 or so doors down, albeit 1 more very small bedroom (study really) and large rear balcony…. Sold for just under 1 Million!

Probably should have added my numbers here are reflective of Townhouses in my area Bundoora, not houses on a quarter acre block. Looking at several Mill for one of those in Melbourne.

[Dutchy]

Fixed rates have already started rising, best indication of where variable rates are heading

Variable is still a way off (IMO) - mid 2023

Make hay whilst the sun shines peoples - pay extra - as much as you can.
Make sure you have a redraw and you cant go wrong

My guess would be Q3 2022, watch the economy go nuts in the first half of next year.

[whufc]

Just move out to the country and grab a 3 bedroom house and 2.5 acres of land for $300k at most.

You want us as neighbours???[emoji15]

Sent from my SM-G781B using Tapatalk

Neighbours I wont be able to see you from my house

[gadj1976]

Prices in Melbourne are just stupid…

We bought our place 12 months ago.

Last week very similar property just around the corner sold for about 25% more than we payed for ours.

We have done a bit to our joint so far too. Plantation Shutters throughout, new deck, garden shed to go in. Still to do a small kitchen Reno, along with a built in bookcase in the hall and I’d like a built in desk/bookcase in my home office. Then we’re done…. That will add some good value to our property.

A month ago place 5 or so doors down, albeit 1 more very small bedroom (study really) and large rear balcony…. Sold for just under 1 Million!

Probably should have added my numbers here are reflective of Townhouses in my area Bundoora, not houses on a quarter acre block. Looking at several Mill for one of those in Melbourne.

I'm spewing to this day that I didn't take a chance on a 1930's built place in Fitzroy back in 2000/2001. It was missing floorboards and needed a ton of work. I couldn't see how I could afford it, let alone do it up, at 375k. Even if I just held onto it, today it would be worth well over a mill.

It was the same type of house to this;

https://www.realestate.com.au/property- ... -137586334