fixed rate numbers, page-2

I don't think it is as bad as everyone is making out. The amount of home loans in the application phase is astonishing. ANZ are 19... and i am not joking... 19 DAYS behind schedule!!! their avg waiting days for a loan approval use to be 5 days. this is now close to 4 weeks!!! NAB are behind aswel... I know this as i'm a First Home buyer and have been waiting for finance!!!

I do note that there were no buyers earlier in the year but the last 2 months have seen a MASSIVE rush of buyers.

House prices have already dropped 20% to 30% The house I'm buying was listed for 18 months. They had 490k on it. Had an offer of 460K 16 MONTHS AGO no sale 12 MONTHS AGO HAD AN OFFER OF 420K AND STILL DIDN'T TAKE IT. Now they have sold at 355K. Truly amazing. My opinion is that it is all the advertisers faults. Scare mongering tactics to sell papers. In 3 months time when the house sales have trippled or better they will be saying now is the time to buy and houses are on the rise again.

Luck to all that have bought :)