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I have been watching the market for the last few years and have been saying that the market is dangerously overvalued and more to the point getting more and more unaffordable.
My Nans home was sold last year, a 2 bed house on a plot of land and in a condition that was for the most part unliveable for nearly $400,000 to a developer who tore it down immediately and is building 3 sub plots on it and he stands to make a killing.
Shame that because had it been in a normal market I probably could of worked something out to keep it in the family.
To be fair the land was the selling piece there.
And this is suburban Adelaide. I look in the areas I grew up and we couldn't afford the sort of houses we lived in growing up or would be looking to buy now and more to the point the houses have long since sold off their yards and just aren't as desireable to me anymore.
That said I can find some extremely well priced(for now) and amazing properties in rural areas but of course that has other problems like work availability.
I don't foresee a rosy future for the housing market, something will give eventually.
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