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Same thing in France: the property bubble hasn't burst yet, especially in Paris where prices keep going up. But it's only a matter of time.
by Bernard (bernard) on Tue May 17th, 2011 at 04:21:36 PM EST
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I am afraid same here in Australia...Properties in big cities keep going up, specially Melbourne and Sydney because of job opportunities but even in Brisbane where economy is showing kind of slow down (all tho there are mines in North QLD) prices are at least stable...But those prices are so not realistic comparing to income most of people have that I don't see how they'll stay on a current level...
In a midst of prosperity (5-6 years ago) we had a holiday in a little village Bargara on the coast in central QLD. At some point we thought that once we are pensioners we can sell our house in Brisbane and buy some cheap but nice house in a village like Bargara. We were in shock with prices there. They were same like in Brisbane. Now I checked and it's even worse. Look here:
http://www.realestate.com.au/property-house-qld-bargara-107398726
$510,000 for less than decent home (3bdrm, single garage, pretty old...). I can't believe this. And there is no much of the job opportunities in this small village (tourism only and it's declining even on a Gold Coast).So how this is possible to stay like this is above me...Foreign investors? How many of them can keep those prices up and for how long?


Science without religion is lame, religion without science is blind...Albert Einstein
by vbo on Tue May 17th, 2011 at 08:29:56 PM EST
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(doctor with a modest million-dollar house near the beach). The whole state is in a sort of gold rush. They are digging minerals out of the ground and exporting them as fast as they can hire the people to do the work. My brother, a carpenter, is over there at the moment, to pay down his debts in NZ. In the mining towns, renting a two-bedroom flat will cost you $100 000 a year.

So maybe that's why the prices are so high in QLD... you can't build a house for less than that: all the chippies are coining it in WA...

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Wed May 18th, 2011 at 02:48:28 AM EST
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I question the sanity of selling a house in a good city to live in a small town.  Several friends and relatives have done this, and without fail they have all found it boring.  I would be trying to head to the middle of good cities rather than to a place with no service, where you need to drive to buy a litre of milk, where meals on wheels can only deliver once a month.
by njh on Fri May 20th, 2011 at 02:47:46 AM EST
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