In Melbourne, there is a massive property bubble right now. Things are crazy down here right now. These are the last tops before the property crash (by mid 2008) is what I think. Still I wouldn't sell my IP's. If you can hang on and come out the other side, do it but be prepared to wait 5 years for stability and recovery.
Be prepared to absorb interest rates of 10%+ in the next 2-3 years. I would fix the rates for 3-5 years, and also go interest only if possible.
If the RBA were serious about killing the bubble, why don't they just increase interest rates by 0.5-0.75% in 1 hit and get it over and done with. It would be better than this water torture they subject people too. I suppose they ain't got the balls for it.
Be prepared to absorb interest rates of 10%+ in the next 2-3 years. I would fix the rates for 3-5 years, and also go interest only if possible.
If the RBA were serious about killing the bubble, why don't they just increase interest rates by 0.5-0.75% in 1 hit and get it over and done with. It would be better than this water torture they subject people too. I suppose they ain't got the balls for it.