To buy or not to buy.........?

[Zeus]

I was thinking of getting into the property market again. (I am currently renting).

I then came across this article from the Australian Business Review - http://www.theaustralian.com.au/business/business-spectator/an-ominous-sign-for-the-property-market/story-fng7vg0p-1227436956232

An ominous sign for the property market

Mortgage approvals tumbled by its largest amount since January 2004, as Australia’s increasingly imbalanced housing sector threatens to unravel more quickly than most experts anticipate.

With demand poised to moderate, are we on track for another housing downturn?

Housing turnover matters. With the exception of auction clearance rates — and that is more a recent phenomenon in Sydney — there is perhaps no other indicator that can provide as much insight into future price developments.

Does anybody really know which way things are going? Would you be getting into the Aussie property market at the moment?

 

[MrBig]

Two years ago I was telling people that 2015 will be a tough year especially in WA as existing projects come to completion and lack of new major projects starting. So the government will then release cheaper land to encourage building to ensure more employment in the construction sector. I've been saying downwards.
I'm not a financial advisor.

 

[Sexty8]

I would expect some bargains in Greece if you can handle the daily commute....

 

[WoodyWil]

buying property I would never build again
because costs are high setting up gardens putting in patios or swimming pools etc.
I think am established home in a clean growing area is the key.
buying bricks will always be better than feeding a landlords bank account.

not to mention all the does and don't with renting.
pick your price pick your location carfully
wait for a buyers market.
I am no expert but I have had my home for 25 years which has gave me a lot more than a savings account could
property markets will always change.
you must remember that a landlord invests in property to make money
but with the money he gets from your rent he
pays for his Mortgage if there is one
realtor fees
rates, insurance etc.
now the positive side to buying property is the longer you stay buying it
the more it will increase in value.
and as rents keep climbing your mortgage remains steady
so it may take a little longer but it's all money in your bank and not the landlords.
as I said I am not an expert, it is just my observation over the years.

I hope this helps anyone who is thinking of property

 

[svengali]

Personally, I own one house which I live in and have no desire for property investments.

Over the past couple of decades managed investment funds based on shares have consistently outperformed real estate. Yes, even after three or four major crashes that is still true.

People point to the great property price increases but overlook the costs of buying and selling - stamp duty, commission, management fees, repairs and depreciation for a rental property and, usually, a very expensive tart-up when the time comes to sell.

 

[Summer fun]

it is looking like the property market is going to get weaker, and stay weak for quite a while.
we've never had such a long boom before, so a lot of people think that the market cant ever go down

 

[Master Yoda]

The right or wrong time is relative to ones situation at a given time......


Look within......

 

[Happy2]

Buying and eventually owning your home is a great goal I could not imagine living on a fixed income at 70 and paying maybe half or more on rent

But as for investment I am with svengali and believe well managed share portfolio will out perform most other safe investments As long as your not wanting quick money