You're in the same boat as me. What location are you looking at buying?
We've been looking at the Sunny Coast, acreage and to then build a low-set home. The market at the moment is insane though, prices are going for 6 figures above their reserves and the same goes for non auction sales... This quantitative easing is pushing up the prices of assets due to the real value of money decreasing. Unfortunately, if you take a salary, your salary won't increase at the same 'real' rate as these assets. This is only meant to happen for another month or 2 before it stops buying back bonds and printing more money, so it will be interesting to see what happens to assets from this point, including the share market. They could stabilise over the coming months, or decrease, or even increase. Experts are saying houses will increase anywhere from 10% to over 20%, but I'm not to certain about that. To many other economic challenges happening in the background that makes them too inflated.
In the meantime, my partner and I are waiting it out. Probably going to start a business so we don't have to rely on our salaries. RAC is the backup to pay off a house clean if everything goes to plan.
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