Well, we've hit a wall, after putting a contract on another house, the bank didn't approve the loan. Probably a good thing though, as we would have been WAY over committed. Anyway, our Ferny Hills property should settle very soon....
A word on the housing market: A lot of "commentary" has been occurring on affordability. Without going too in depth about analysing markets and economics, I think housing is still relatively affordable for young people. It may mean buying on the outskirts, or outside cities, but its still possible for a couple on average wages to purchase a house. Yes, it will be inconvenient for city access, yes, you may have to drive a few ks for ritzy cafes (and sometimes not even so), and you may need to spend a few extra dollars a week traveling to work, but it does not substitute for owning and paying off your own home. It does not substitute for getting your feet in the door. If you still don't have a house, take a risk and buy outside your comfort zone. Keep in mind that if it does not work out for you, selling it is the worse case scenario.
Brisbane is cooling too I think....perhaps another 2 months of craziness before the quiet calm environment of a flat line in house prices for a little while.
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