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Real estate prices to plummet?

By johnboy 30 October 2006 24

The Canberra Times informs us that BIS Shrapnel is predicting a 10% fall in real estate prices once the new developments in Gungahlin and Molonglo come online.

With a double interest rate rise on the cards the spectre of negative equity must be looming large for a lot of over-committed home-buyers.

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24 Responses to
Real estate prices to plummet?
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pjreggard 7:55 pm 05 Mar 07

3.5 million as it turns out…

Coupled with a sale in excess of 4 in red hill

pjreggard 10:05 pm 02 Nov 06

Its only homes in the outer suburbs that will experience a 10% fall as the reduction in land costs lead to cheaper ‘1st homes’ for those out in the sticks. The very premium end is just getting stronger – another 3 million + dollar home has just been put on the market in forrest.

VYBerlinaV8 11:23 am 02 Nov 06

As far as costs and stamp duty go, there are a couple of options. The first is to borrow them, the second is to put govco’s 7 grand toward them.

You are right Shab, it isn’t necessarily easy. It is, however, entirely possible, and many people manage to do it. Over the emotional hurdle is the biggest part.

Mr_Shab 5:00 pm 01 Nov 06

Yep – Zero Deposit Loan. What about stamp duty and legal costs? They don’t magically appear, VY.

There are ways and means, but geeze – if it was a piece of piss, everyone would be doing it, and the whole system rather relys on the fact that a lot of people can’t.

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