my take on the past year.....australian investors stayed away from the market, to allow the kids to have a go....allow the kids to fight it out with each other....and bid up the prices
although we were enticed by the low rates, to consider going back in, we sat back and watched the kids driving the prices skywards...
***then the govt opened the flood gates on the foreign ownership laws in Feb/Mar 09.......which encouraged a flood of foreign residents to enter the property market, hence the stories around Melb of an average of 5 foreign bidders, bidding up the prices, and out bidding all others...
none of my property investor mates were in the market, and had no intention of entering the market until Jan 2010....or when the fhb scheme ended the bonus, and reverted back to the norm....
you really need to get your heads around how an investor plays the market, wear a different hat, think like an investor, to understand the market..... instead of just wearing the one hat, the first home buyer hat
