Average price seems to be around $500K. While the banks would allow us to loan something like $310K, that's because they're soulless idiots. A loan we could pay off without panicking every time there's an interest rate rise is probably closer to $170-200K.
On the plus side, the market is starting to hiccup. Some houses have come down $100K over the last few months. It's plausible that prices will continue to come down, or at least stabilise for a while, allowing us time to save up more of a deposit.
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Date: 2008-04-06 02:35 pm (UTC)On the plus side, the market is starting to hiccup. Some houses have come down $100K over the last few months. It's plausible that prices will continue to come down, or at least stabilise for a while, allowing us time to save up more of a deposit.