Originally Posted by
George
Well it looks as if we were a couple of years early buying our little house,
2 br up the road in Glendene with a cv of 390k on sale for 309k. We have a 2 br
for 312k in 2007 cv of 315k so wonder what value is now, although we have a better
location. House over the road (Newington rd Henderson) sold for 305k (very quickly)
with a cv of 360k, full site but big costs to subdivide so probably can't compare
to ours. Our quiet street seems to be in demand with very close access to main hub of
Henderson, so we will be able to sell easily if have to as long as price is realistic.
But we are in for 10 yrs at least and jobs secure so far, if values stay
down for a few years more, we may have the chance to buy another property with
ours as security.
Looks like the shrewd one's call was correct (to wait) but there must be a lot of
first home buyers who thought they had missed out and now will be chomping at the bit
with a bigger deposit and not wanting to miss out again which may put a floor under
the market. I hope the bottom is not too far away and that the 'experts' strategies
work because the alternative is a bit unsettling.
George