crash what crash, page-71

I think the property bubble has "deflated", but it certainly hasn't "burst", and it won't, the government won't let it.

Gold Coast for example.

The Gold Coast has been in recession, tourism down on high dollar, unemployment driving upwards well above state average, and the mining boom took a lot of people away from the place. Rents were static, vacancy rates high, prices on standard property dropped up to 20%, high end stuff 50% plus.

All that has started to change.

And now I am seeing multiple groups at open inspections, agents reporting direct inquiries increasing, buyers everywhere and supply drying up. Contracts done in 7 days on well priced stock. Its really tightened up and the prices are creeping up. But its no boom, far from it, doubt we will see one for a generation actually.

Mortgagee sales are getting rare again, they were everywhere 12-24 months ago, and most of us know how long they need to default on a mortgage before the bank actually pulls the trigger.

I have an offer in on one place and if knocked back, will be making multiple offers this months to get another property.

I was on the fence but I have seen enough now to justify the time being right to dip the toe in again.