Views on property developments in 2005

While the likes of Meriton and Lend Lease keep building these over-grown beasts all over the place, I can’t see unit prices coming out of the slump in the short-medium term. I see them further declining as building are being completed.

On the upside, I think house prices may quickly stabilise and start moving up again as the more sites that are developed for units, the less houses there are in an area creating almost a demand-pull effect.

With that said, are there any punters out there interested in wrapping a unit (or two) that I have available in Sydney? One is in Green Square (two bedroom loft apartment, rent 400 p.w.) in a low rise development and the other is a one bedroom unit with water views in Dee Why (rent 380 p.w.). Each are going for $520,000 on a wrap at 7.5% p.a. Purchaser pays all costs to get paperwork done. Will also consider Lease Option or outright purchase. [blink]

Contact me privately if you are interested. If you feel the need to insult me, do it here! [baaa]

Before you ask, I bought these to help my brother who was in a little trouble. I would never have bought these otherwise. I like positive cash-flow!!!

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.au

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Comments made are of a general nature and should not be construed as individual advice.

© 2004 Mortgage Packaging Pty Ltd