Sunday, November 28, 2010
A few months later....
Well, once again I have left this blog sit here, do nothing, just begging me to write about the turmoil that is the current housing market in Australia. There seems little hope on the horizon for us investors, with rates going skywards and house prices standing as still as a seagull who has just seen a wild cat lurking underneath the branch it's sitting on.
The markets I have my properties in are performing.....shithouse. There is little movement in Queensland as the market has finally realised that thousands and thousands of houses for sale can not be a good thing and the people have spoken. I know, I know, you will say, yes Andrew, but it's just the time of the investment clock, the part where interest rates go up (as do wages), houses prices are stagnant, it's just like the last time when all of a sudden the market went crazy.
While that's all well and good, I have an uneasy feeling that something is different this time. Perhaps it is the number of houses on the market, or the indicators in one suburb at least, that investors are offloading, and they are doing it in a big way.
It's exciting times, but not in a positive way. I have to offload, at least one, if not two, and if that's the case for me, I would hate to see how the big investors are going.