Hi all
Well for the last 4 weeks i have been looking at units in Adelaide within about 10km from CBD.
The general opinion i have heard and has been reported is that things are slowing and houses are on the market for longer etc.
Well my experience with reasonable location units in small to medium group is vastly different. It is like a frenzy out there. They are sold very quickly and forget offers the advertised price is being offered and in some cases surpassed.
Why is this i wonder. Me thinks is AFFORDABILITY Houses are looking out of reach for the average wage earner unless they buy on the outer fringe and not new.
Units (2 bedroom) can be had at anyhwere between 100000-150000 depending on size/group/location etc.
CBD apartments townhouses seem to be alot slower but are also alot more expensive and smaller in some cases.
When i read this just on observation is that the FHOG teenagers early 20’s are starting out with Units and thus creating a demand for them. The price range is within their reach.
Any comments with other capital cities if similar is occurring.
regards
Alfinteresting point Alf – affordability has a huge impact on the market. you only have to look at larger cities like London and NY where so much of the population live in apartments. the aussie ‘dream’ of the 1/4 acre block is a 1950’s fantasy that will slowly fade as the reality of population pressures increase. in the meantime, if you can afford (and actually want) that 1/4 acre block, grab it!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
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