Housing Crash 2019??, page-109

the area in which I live, according to last weeks real estate insert, had the top 5 sold properties for the previous weekend all snapped up well over reserve. In one case 440k over reserve, the others, just a mere several 100k over. Its not fire sales either. Another just around the corner sold for 2,4mil to a downsizer, go you good thing, makes mine well over that mark. It's a frenzy at the moment.
Doesn't look like a downturn in property prices around my area. In fact it looks like people are using this hype of pending doom to snap up before it continues to go up. Nope it doesn't look like those wanting to invest around here are to concerned, properties are lucky to get to auction.
My own property is up 140% over the ten years we've been there. Might be some slowing in the market, but generally I see the value of my property to continue to rise. Let prices dip a tad, I'm not concerned, long term no worries, just like my bank shares.
The building frenzy is full tilt, with every quarter acre block being subdivided and "new" modern homes planted on it, no garden of course as people prefer to watch gardening programs rather than getting their hands dirty. Cranes are everywhere. Sadly road congestion is the great downfall.
Where do I live? Tony Abbott territory. New hospitals, new tunnels, new B line bus system, same old Spit Bridge.