No property bubble, RBA says

AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!

This contrasts with the article in todays AFR in which large developers have said that the 2nd tier developers are leaving the market as they are unable to get finance. These are the ones who develop residential blocks into mini apts or 6 townhouses etc. The banks are asking for larger numbers of presales and are not willing to put money into a project until construction has begun. You cannot start construction until your finance is in place!

There was also some more chatter amongst REA about most apt blocks in inner city suburbs having to go before VCAT before approval was able to take place as council is reluctant to make a decsion.

Australia is coming into the mother of all housing shortages. Buy land. If you can find land near rail, buy it. KRUDD is going nowhere with this. Melbourne councils are going nowhere with this. The shortage will come, along with camping out, record crowds and apts the norm.

If you are looking at investing in property make sure you get a backyard.  

My rant is over. Time to make money people.

D

Ahhh Wealth…………..happy are we the investors.

There is no shortage yet. Give it a couple of years of tight lending, low construction approvals (not in my backyard councils) and just a general lack of forward planning from the govt and there will be.

Inner ring suburbs in Melbourne, everything is under offer. Most suburbs are selling the majority of properties via auction and many suburbs you can watch the asking price go up by the week. There is plenty of demand. Seems to be a lot of people scratching their heads………………………."duh, dunno where all these buyers are coming from" Well DUH! People see buying a house as a safe bet, they need to live somewhere, most people's shares and super are in the toilet etc, etc, etc.

Wealthy, what's PDS live?

I'm pretty sure I've found my next area. I won't mention it on here or I'll have to fight it out with everyone AND their dog.

LOL@UW4L

I'll just use an x from now on!

X