lol yep, long gone is the day you could walk into your local bank and they could show you the bar of gold that represented your money.
Lending is still unregulated in Australia even if they say so, they're still giving out loans without doing any checks beyond pay slips which they're now meant to and this is the big banks doing this lending, nothings changed.
Lots of huge apartment developments in the works in Melbourne, Sydney and Brisbane that won't have any buyers once they're done, lots and lots of debt there and lots of buyers off the plan that won't be able to get finance as the apartments are being revalued lower, going to be deadly in a few years, as I've mentioned my business is in property; investments and developments, we're not doing any more new large scale apartment development projects for now or even many single dwelling residential developments at the moment most of it is going into investments and holding land, commercial buildings and leasing them out or developing into businesses.
Residential development, depending on the area in Melbourne, land value is priced higher and a premium over the finished product, two separate values on the two with buyers not willing to pay up on finished homes but happy to overpay on land. In saying that land value has dropped off in some areas since the highs that were seen in 2015 and has seen some good buying opportunities, same with commercial properties, but all depends on the right location.
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