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Isn’t it the same “tenants from hell” every time they run these stories? – just a few months later with a beard or long hair to change appearance on screen.
The premium set for landlord protection insurance indicates that poor tenants are the exception not the rule.
Werribee has historically been classed as a mid to lower socio-economic area, and although over the past couple of years to 06/03 there has been good growth, there were not many places to miss out either.
Melbourne does not suffer a lack of suitable available land like Brisbane and Sydney. There are huge tracts of land between Melbourne & Werribee that could be developed in the future and without good population growth expectations for Melbourne as a whole, I would be wary of investing in Werribee or it’s surrounds. For that matter I would be wary investing around any of Melbourne’s outskirts areas.
Have a look at some historical data and see how it has performed over the last thirty or forty years compared with other suburbs. This is always a good indicator.
It’s true you may get a higher return/yield on Commercial but usually not as much capital growth. If you needs are current income (cashflow) then commercial may be worth considering. If you want future income then perhaps residential, with better growth prospects may be the answer.
With 32% of Australians renting the Gov’t needs private rental housing to maintain social justice. There is no way that the Gov’t could afford a return to gov’t housing as it would cost a lot more than what they currently lose through negative gearing.
And with the current baby boomer generation approaching retirement with inadequte superannuation savings, the government must understand that attractive gearing laws provide the opportunity for creating wealth that will suppliment retirement income.
I think the laws may alter but essentially negative gearing is going to be around for quite some time to come.
I think the US has tax relief on investment losses up to a certain level.
We may see a ceiling put in place that may mean an individual can only claim losses from investment up to a certain level but I’m sure there will be ample opportunity for the community to debate any proposed changes.
