|
|
Post by Swampy on Apr 16, 2014 0:47:48 GMT -5
That's because property prices are rising, but that's no surprise to many Canadians, who are facing the same problem.
|
|
|
|
Post by premier1 on Apr 16, 2014 3:30:04 GMT -5
One major problem in Australia is foreign investment, mainly Chinese buying in the major cities and paying way above market prices to secure good real estate. Gambling on the market holding up to historical rates of increases. In Sydney there is a problem they might not see, after socialists slowing land release and related development there was an artificial holding back of supply and increasing demand obviously produced increasing property values.
The present State conservative government has released hundreds of new land sites for dwellings, over the next 5 years they intend to release more, and that will at least stabilise real estate prices.
|
|
|
|
Post by Swampy on Apr 16, 2014 7:00:38 GMT -5
But, if China is going through a bubble, then so would Australia and Canada, for the same reason.
|
|
|
|
Post by Sir John on Apr 16, 2014 15:09:34 GMT -5
There is a major difference with my generation and those of today.
Our first home (1964) was a 3 bed, no BIRs, 1 bath, no garage, no sealed driveway, and only 1000 sq feet, for soon to be 2 + 4 kids. That home cost $10,000 house and land). The next home (1973) was a 4/2/2 with most of the bells and whistles and about 2000 sq feet. It cost $24,000 house and land.
NOW the youngsters want the first home to be a 2500 sq feet, 4/2/2 with all the mod cons of today all built in and ready to go. If they were willing to go for the basic for the first home, they COULD afford it.
JMO
SJ
|
|
|
|
Post by Sir John on Apr 16, 2014 17:52:22 GMT -5
...and the (corrupt CCP hangers on) Chinese are only active in the top end of the market, and that has never had much impact on the 'average' suburban 4/2/2 of our society.
SJ
|
|
|
|
Post by premier1 on Apr 16, 2014 23:23:59 GMT -5
In Sydney there is limited unused land and at the north and south are national parks and west are the Blue Mountains also with national parks. Since the early 90s a socialist government decided that to limit population growth they would restrict new land releases and development, the laws of supply and demand kicked in and the price of dwellings increased markedly as supply could not cope with buyer demand.
The conservative present government of just under three years has released over one hundred thousand blocks of land for housing, roads and shopping centres and plans to release many more and now there is a shortage of building trades people. But that is slowing not stopping progress.
The inner city suburbs and beaches are the Chinese buyer areas and prices have increased week after week. My son bid for a three bedroom home with self contained flat and two car garage on a plateau overlooking the beachside suburb below, he stopped bidding at $1 million and it sold for $1.3 million. As a builder he planned to renovate it and live in it until he was ready to sell, knowing what work was needed the million was his commercial decision ceiling.
|
|
