Post to SinFongChanRE.wix on 18/12/2017 at 1:05 AM
Commenting on “Quiet credit squeeze could hit Melbourne auction prices harder next year”
https://www.domain.com.au/news/quiet-credit-squeeze-could-hit-melbourne-auction-prices-harder-next-year-observers-say-20171217-h066pn/
I know only a handful of loyal readers follow my posts frequently. I do hope they benefit from my advice.
I find some supposed “followers” do not read my posts and are still living in the past. Some could not believe the downturn is here. They do not know the reason of the downward slide, ignorant of government‘s policies restricting foreign investing in real estate, and foreigners’ own government’s policies controlling the outflow of cash.
The latest linked article highlights the trouble of the real estate market in 2018. The more expensive the property, the more difficult it is to borrow money, and the percentage amount for deposit required to secure a loan is higher too.
If I am a buyer advocate, but I am not, I probably would stop many buyers from paying all the unnecessary extra premium for properties not worth that much. I still believe most of the properties are still at least 10% to 15% over valued.
Talking about development, If you come around Jells Road and Ferntree Gully Road, Wheelers Hill, you will see development sites which have been “development sites” for years. I really wish the developers good luck, and have some real construction starting in 2018.
Recently, an apartment developer comes out with a new scheme allowing “qualified” potential buyer to put $1 as deposit until the project is ready to go. The potential buyers will then pay the remaining amount of the full 10%. I hope this development is not going to be like those in Wheelers Hill.
Thank you for reading.
Commenting on “Quiet credit squeeze could hit Melbourne auction prices harder next year”
https://www.domain.com.au/news/quiet-credit-squeeze-could-hit-melbourne-auction-prices-harder-next-year-observers-say-20171217-h066pn/
I know only a handful of loyal readers follow my posts frequently. I do hope they benefit from my advice.
I find some supposed “followers” do not read my posts and are still living in the past. Some could not believe the downturn is here. They do not know the reason of the downward slide, ignorant of government‘s policies restricting foreign investing in real estate, and foreigners’ own government’s policies controlling the outflow of cash.
The latest linked article highlights the trouble of the real estate market in 2018. The more expensive the property, the more difficult it is to borrow money, and the percentage amount for deposit required to secure a loan is higher too.
If I am a buyer advocate, but I am not, I probably would stop many buyers from paying all the unnecessary extra premium for properties not worth that much. I still believe most of the properties are still at least 10% to 15% over valued.
Talking about development, If you come around Jells Road and Ferntree Gully Road, Wheelers Hill, you will see development sites which have been “development sites” for years. I really wish the developers good luck, and have some real construction starting in 2018.
Recently, an apartment developer comes out with a new scheme allowing “qualified” potential buyer to put $1 as deposit until the project is ready to go. The potential buyers will then pay the remaining amount of the full 10%. I hope this development is not going to be like those in Wheelers Hill.
Thank you for reading.
