Tuesday, November 8, 2011

Good or Bad Times?

Here are two conflicting articles, published on the same day in Property Observer.

1.  Next year could be the best year in a decade to buy property.

2.  Australia's housing bubble will eventual burst.

Who should you believe?  Who knows?

My view is that, at least for Brisbane, now is a good time to buy established, well located residential apartments, if you plan to buy and hold for the long term.  In my view, not a good time to buy off the plan, but some off the plan developments seem to be doing well.  For example, it is reported that in the first stage of the first building in the Showground Hill development, namely The Green, all the available apartments sold out in about 3 hours.  Not sure how many apartments were actually available -- they may have actually only sold ten apartments!  In any event, there must be some buyers signing contracts.

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