Hello everyone,
It seems that the property market in the southern states are attracting many post here and on the somersoft forums. For instance Frankston and surroundings seems to be the the most popular place,and Sydney is next on the cards. I have started investing in melbourne (and very happy)and now i will be buying in the Sydney market. Anyone else having good fortune their.
Dom
I think our next growth cycles will be more of a steady growth rather then the crazy boom we experienced last time. Booms tend to alternate, you usually see a high ramping boom, followed by a slow steady boom; but as time goes on and people grow older and the next generation come into play then people jump on the wagon and we experience another high ramping boom. Alot of people still remember being burnt from 4 years ago buying at the wrong time..
Same with Salacious…learnt from missing the Melbourne 2000 boom by buying in big in mid/late 2006, reaping paper rewards now. Also dipped into Sydney and planning to buy some more. Sydney is ripe for the taking, and best time to buy there was late 06-Feb 07 in hindsight.
as for steady boom this time around, not too sure with all the excess money floating around…in the 10km radius Mel CBD you could generalise that prices have escalated 40-60% in a short period. I could see another 20-30% in some areas over the next 18 months barring any interest rate or global jitters. Steady or high ramping, is everyone's own interpretation.
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