Yep. Mortgage interest rates on owner occupied and investment properties are up as of today.

Last month...lending criteria tightened.

Yet the Sydney housing market is STILL showing no signs of slowing down. At all.

If you've fixed your owner occupied/investment home loan facilities for the next 2/3 years you're essentially ok. For now.

If you've not availed yourself of the lowest interest rates in 60 years .... it's probably too late. Once borders open and immigration resumes the demand for housing will continue to push the Sydney housing market upwards.

The next 3 years will be hectic. Why? Supply chain issues will mean higher prices at the supermarket.

Hold onto your hats everyone. We're in for one hell of a bumpy ride.

I blame Obama.

AiA wrote on Oct 21^st, 2021 at 8:40am:



it's like that just about everywhere in Australia right now,the market is flying high everywhere  ... you can sell for great money, but you'll pay through the nose for your new abode,... there's no net gain unless you don't need to buy another property

when it's like that the only ones to profit are local councils, who will raise your rates based on your higher property value

issuevoter wrote on Oct 21^st, 2021 at 9:49pm:


You need to be able to look beyond those interest rate numbers. Look at the fine print in other fees/charges in any home loan facility. Look at the cost of buying property....the prices being paid. Look at the tight credit lending criteria. You won't be eligible to borrow despite those interest rates which still "look" low.

Then take a closer look at your salary and the taxes you pay in PAYG and GST.

Lastly....take a closer look at how much a shopping trolley costs today. You will soon meet Inflation and I promise you...that is the guy who is a greedy bastard.

AiA wrote on Oct 21^st, 2021 at 10:24pm:


Why are you bothering to listen to John Abo Troll Smith?

He knows SFA about buying property. He lives in Aboriginal Housing!

And he's just told you something which is totally untrue too!

It's NOT like that everywhere in Australia! Only someone with no knowledge of real estate would say that!

There are tiers of growth btwn rural and urban areas.

And even then there are mini tiers of growth within each urban area and within each rural area.

And that's just in 1 state of Australia.

Some states are generally cheaper than others!

People are cashing in on homes in Sydney and making millions.

They are then taking those millions to buy 2 to 3 homes elsewhere in the state. Or even interstate.

Those 2 to 3 homes are for their tenants and/or their children.

These real estate migrants have essentially bought themselves a 1 way ticket out of Sydney. They will never be able to afford to buy back in (unless they win Powerball or inherit a windfall).

AiA .... you will need to ask yourself a few hard questions. Do you live in a city? Is that city important wrt employment, family, extended family and friends? Then ask yourself this: how old are your kids? Are they ready to fly out of the nest? Perhaps they've already done so. If they have then downsizing might well be the option for you. If you can work remotely then perhaps you might be in a position to look outside a city. Semi rural or rural areas are cheaper. What type of lifestyle is compatible with your personalities and goals?

Only you can answer these questions AiA because only you know your particular ages and current circumstances as well as future plans.

LOL!

Antarctica?

Whatever its merits my block of land is real and I will post some photos can Jan.

LOL!

It is not a feral block, but patience, you will see more anon.