Sounds like we're onto a winner with our offer then. I've noticed houses for sale that are still sitting around recently and I knew the housing market has been dropping. Although all the reporting has been on the capitol cities I'd imagine similar trends are playing out all over the country.
Now I guess the question should be is do we jump back into the market straight away or sit on it and see what happens with house prices over the next few years. My head says to sit it out and invest elsewhere for the time being but I also hate renting with a passion
Certain parts of the major cities have dropped by up to 20% while some suburbs hold fast to their value.
Apparently Hobart and Adelaide are strong all round so maybe they never reached the heady heights of the boom or are holding value as great places to live.
In my neck of the woods it's stable with steady increases in value in some towns.
Renting is wasted money while interest is low, I wonder how long the interest rate will stay so low with the economy hovering around recession levels. I've read that Australia would be in recession if not for population increase from immigration.
I'm not an economist but I'm nervous with my mortgage as the worlds powers are dancing around an aggressive agenda.
Bunyipong seems like a safe haven, sans a crazy neighbor with rattling bikes...