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  • Profile photo of DarrenDarren
    Participant
    @7black
    Join Date: 2017
    Post Count: 5
    February 20, 2017 - 12:01 am

    Stimulus from the Howard government got the ball rolling on rapid price growth in the form of generous stamp duty & falling interest rates. So no more stimulus from government. Supply & demand will sort prices out. We need to educate our children how to manage money properly in school & at home. I have had this discussion with my kids, they tell me nothing has been taught at school. Appalling. I think more regulation is required of real estate agents. Removing negative gearing will only act as deflationary for housing supply. Increase stamp duty…hhmmm….ah no. It’s costly enough as is & if anything I believe this would only have a positive effect on house prices as desire creates want, in addition, equity is used to buy second property so it doesn’t directly come from the wallet. People pay for what they desire. As for making it tougher for investors to borrow, what about housing supply for renters? I don’t see this having a negative effect on prices. Forcing council development applications, the councils know their area & how to sustain a level of growth, supply & demand dictates that anyway. Cash rate increase, looks like it’s slowly coming anyway, but retail sales are still flat aren’t they? I don’t see any of these suggestions having a large impact on prices, if anything they may level off, but again supply & demand will dictate prices.

    • This reply was modified 7 years, 10 months ago by Profile photo of Darren Darren.
    Profile photo of DarrenDarren
    Participant
    @7black
    Join Date: 2017
    Post Count: 5
    February 8, 2017 - 7:46 pm

    Ethan I’ve taken your advise & looked at past sales & current listings. I gather maybe 14% with a positive cash flow. Thank you for the tip.

    Profile photo of DarrenDarren
    Participant
    @7black
    Join Date: 2017
    Post Count: 5
    February 6, 2017 - 11:21 pm

    Thanks Ethan, it’s funny you should mention looking for another place – we have broken lease & are looking for a place right now. Established properties sell, but not many are interested in building as I’m told from real estate agents. Not sure why? The hassles of building perhaps for that demographic? Valuation is loosely based on agent opinion, so perhaps less? 15%? I guess I have to wait for evaluation. I am learning, though it seems to be the hard way :)

    Profile photo of DarrenDarren
    Participant
    @7black
    Join Date: 2017
    Post Count: 5
    February 6, 2017 - 7:46 am

    Our original builder doctored our signed plans & wouldn’t answer as to why or use the plans we signed, so if they were to be trouble on paper, what could we expect during construction? We weren’t willing to find out. This was meant to be our family home. We want to build our family home with the second builder we are contracted with but on another block. It’s a bit too late to go to a designer with the current plans as the they are already with the builder, however, we will use your advice next time.

    We felt trapped as we could only see ourselves stuck holding a piece of land that could sit on the market for a very long time & be left renting with the possibility of the only way out being a course of legal action. Have we made the right decision by moving to this town? Time will tell.

    I won’t go into details on an open forum as legal action is taking place with developer, builder & someone building a house.

    The land is the correct value, we haven’t lost money on that, but only partial deposit with first builder & of course rent.

    This has been a tough lesson.

    • This reply was modified 7 years, 10 months ago by Profile photo of Darren Darren.
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