Hi all,
This is my first post and may seem a bit silly.
I have been watching the available properties in south Brisbane on the Internet for the last 6 months in an attempt to buy our first house in Australia, all properties listed on the Internet have some pictures showing the status of property. recently I just noticed there seeems much more vacnat property on the market for sale when compare with 12 months ago. Maybe I am wrong but if there is a real over-supply situation then does that means a decline in price can be seen soon? we saw this situation previously in Asia and the property price halved ( even worse) in a couple of years, they call it property bubble burst.A lot of agents keep telling me that ther eare more than 1000 people moving into QLD each week while another report saying that there are more than 800 people moving into WA at the moment, Can this be true? where are these people coming from? Syndey, Melnourne or China? Is this just a myth?
As the first time home buyer here in Australia, not sure should we keep renting for a couple of years or should we buy our house now, we are very happy with renting at the moment given the total cost of ownership for a house to live in is much higher than anual rent ( A$13,000).
We owned two properties previously and have done a lot of reseach in Australia market, apparently the property prices here now are above average salary earner’s reach. without suddent income boost it will be hard to sustain the current property price.
Any suggestion?
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