Comments on: A Buyers Market…..

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By: Rhino

Rhino — Mon, 30 Jun 2008 09:50:14 +0000

Ryan here from Vode Property.

We often perform market appraisals and do not get the listing. There are numerous reasons including the vendor is not ready to sell, the other agent specialises in that area or they felt more comfortable with another agent. This is usual for all agents and although we would like to list all properties we provide a proposal for, we expect that vendors will and can go somewhere else.

By: Rodney Munch

Rodney Munch — Wed, 25 Jun 2008 09:28:00 +0000

Both of your comments are interesting. There is certainly a rental crisis but I am skeptical as whether it is as bad as what the media makes it out to be.

If you look where a lot of the reports about the rental crisis generate from they include real estate agents, real estate portals, and real estate institutes. Notice the trend? They all come from the real estate sector who rely on income generated through property sales.

In a time when sales are down why not talk up the record low rental vacancies so people are encouraged to invest money in buying property. If there is such a rental crisis then why are still properties available for rent in these areas which are meant to have zero vacancies?

By: T-Bone

T-Bone — Mon, 23 Jun 2008 20:16:53 +0000

Yeah my rent has increased 10% each year for the past 3 years. I was lucky considering the rental crisis at the moment but I think because it has increased steadily over this time period it is not too far off market value.

I can’t see myself being able to afford a property close to the city (not in this lifetime anyway), prices are just too high and as you pointed out (Micky) rent in around cities in just too much.

The government really needs to get involved and come up with a better solution for first home owners. Why couldn’t the reserve bank provide cheaper loans to first home owners. Alternatively, the Federal govnt. could give greater tax deductions for money used to save for a deposit.

I am sure there are a number of different options which can be explored but all we need is a govnt. that will.

By: Micky

Micky — Sun, 22 Jun 2008 10:05:52 +0000

If only I had a spare $500,000 laying around.

There is a lot of talk at the moment about capital cities experiencing record low vacancy rates. This is great for investors but lets picture the poor renters who are going to be even more poorer. There is no way our economy can sustain this, something has to give.

Unfortunately, i think the “dream of owning a home” is going to slip away as many of these renters will never be able to save for a deposit if rents keep increasing.