Is anyone buying now?!

Are you buying or looking at buying in the next few months?

  • Yes

    Votes: 250 48.9%

  • No

    Votes: 121 23.7%

  • Only if it's a very good deal

    Votes: 140 27.4%
  • Total voters
    511
C

Canberra Milk

I know there are similar threads to this already, but they're theoretical and I'm more interested in knowing who's actually out there hunting at the moment.

Me personally, I am a FHB and looking to get something in the next 2-3 months.
 
I'm itching to spend some cash but think I should wait a month or 2 and see where the market heads.

I'm thinking by late July some more data will be out to show if the correction is continuing and also see if there is pressure on interest rates to rise.
 
Nikolina said:
Im waiting for interest rates to rise then i will buy, so hopefully by the end of the year.
Click to expand...

Are you talking about Western Sydney?
I was thinking of doing the same but changed my mind and will be buying now.

Considering the state of world economies and the low shopping activity which is likely to get worse as electricity, rents and other costs are going up, it will probably take 12 months for interest rates to start going up and another 6-12 months for the pain to show up in property prices so it could take 2 years before prices come down.

Thats IF they come down at all, because demand will continue due to the housing shortage and the relatively low interest rates and I don't see many loan defaults because the lending criteria are stricter these days.
 
I'm in the US atm and this joint is farked, at least in ca, nv and az. When you see what you can buy for 600k it's amazing. Many empty shops and down and outs. If that's what 40% drop in property can do I sure as hell don't want it in aus - surely both bulls and bears would share those sentiments after a trip to the states and boy are these mothers fat!
 
Have harvested one in Melbourne and can't wait for the cash to arrive............looking, looking, looking..........will buy only if it's a very good deal.

Just as sellers have to come to terms with the buyers being in control, soon, I too shall be a buyer again and I am in no hurry to buy just any old thing.

Let the yields begin :)
 
Aaron Sice said:
hahahaha that's stupidest thing i've read.

if you're investing for cashflow, CG matters little, because if it costs you nothing to hold, why would you need to sell and realise the "loss".....?
Click to expand...

Tell that to the Americans who have lost
50%+ in Vegas with no end in site for cg and ask them if it's the stupedist thing they've ever heard
 
In the process of buying our first PPOR house (had purchased a unit previously) we started looking about 12 months ago but decided to rent in the area first to see if we liked the lifestyle etc and we did. In the last 4-5 weeks we have been to about 20 open inspections and noone else is looking.

We were at each open home for about 20 mins of the 30 minute window and we were the only ones there, agents were pretty desperate to get an offer even if it was just to start negotiations and talking. Alot of property with prices slashed and slashed again and many sellers needing to exits in a hurry.

Some agents mentioned that there were a few people looking to buy but they needed to sell before purchasing, luckily(or well planned) we have powersaved over the last 3 years and had our 20% deposit and were all cashed up ready to go.

We could have waited longer but we saw what we think is a bargain and took the opportunity, prices are way down on 12 months ago and even though they may go further we decided to buy now and settle the family down in a new place.

Overall, I think it is a good time to buy :)
 
Going to sell our current place, go back to renting and buy IP 2. Current place is a dog and we need to move on after 3.5 yrs.

Regards,

Daniel
 
I have told myself no more buying this year ,but as I look around and start to see the bargains and one doesn't have to look far to find them.

Some properties in semi rural have halved in price :p

I could be tempted :D

But I wouldn't over commit myself at this time.;)
 
b simpson said:
I'm itching to spend some cash but think I should wait a month or 2 and see where the market heads.

I'm thinking by late July some more data will be out to show if the correction is continuing and also see if there is pressure on interest rates to rise.
Click to expand...

Hi Simpson, where can we find that information from ?
I also would like to buy a smaller apartment for my first IP in Sydney but so far I'm under the impression that the current market is going slightly downward with the price in Sydney goes sideways or not increasing.
 
Pa1nter said:
I have told myself no more buying this year ,but as I look around and start to see the bargains and one doesn't have to look far to find them.

Some properties in semi rural have halved in price :p

I could be tempted :D

But I wouldn't over commit myself at this time.;)
Click to expand...
I'm having problems with this. You would like to buy because some properties are at a 50% discount. Why buy so early in a correction?

BTW Is Keen still persona non grata? He only predicted 40% didn't he?
 
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