Forum Replies Created
- Originally posted by aussiemike:
.
I really see places like Kellyville, etc., and the people who bought in those areas, going through a very tough period.
Kellyville will be the “Cherrybrook” of the future.
In the 80’s it was the aspirational suburb all new big homes on the fringe of Sydneys NW. When the crunch hit of 91 it became known as “the divorce capital of Sydney”
Most Cherrybrook property has gone up less than 100% since then, a lot around only 50%.
Its actually great value, we are looking there ourselves, for a new PPOR, …..except it still carries this strange taint.
Great thread guys (and gals )
Noticed this morning that some properties that were for lease in Sept Oct last year have now sprouted “for sale” signs.
That last tennant cost them around 10-20% of gross, thats gotta hurt.
Rgds Terry
Originally posted by Salubrious:Quote:Originally posted by AusProp:Property has doubled nearly every 7 years on a rough average, but if you monitor the situation now you will more than likely realize that the wage to borrow ratio is out of orbit! But then averages are averages. In the 4 Crn’s story they interview a Gentlemen who purchased a new home in the then new sub-division of Mt Druitt, he paid 10k for the property, his gross income was 8.5K!!!!
What would be the situation today? Mt Druitt 3 bedda 320k income 35k……wow simple but effective. i think the one thing people loose sight of is who is really the asstute investor? us[eh] or the Banks?[evil4]
Well said.
Another poster said that with inflation prty will keep going. (???????)
Wages will move . Prty will drop and we will have equilibrium….eventually.
Originally posted by brahms:.
to pay of your mortgage in 5.5 years
1. pay more
2. live less
3. get a better job and do 1.
4. get a better job and do 2.Brahms there is of course ..
5. All of the above,
Great advice, don’t know why ppl beleive that there must be some magic to paying debt.If the prty was industrial or comm and part of the business, and the whole business was sold it may apply.
If you don’t already own prty in the o/s country visited then would it not be a capital expense, and not deductible ?????
Nothing new. the ppl who keep talking of economic fundamentals have been saying it for years.
The angle I liked was on the instant gratification, “luxury addiction”. Why has this been SO prevalent in Aust. What does it say about us.
You have to wonder when the next recession will arrive, a whole generation is now working who dosn’t know what it means.
Michael I was simply stating that the off the plan stategy is usually emplyed in large developments.
In my limited experience I have not seen such a small development employ that stategy, they usually just employ an agent.
I personally believe however that the sucess in the boom of the OTP stategy was in part due to the teams, who were independent of the develoipers and used to approach the developers for stock.
Also if you can find a team that charges “slightly more than a agent” please let us all know. I personally thought that Harry and Multiplex were more careful with their money than you infer.
I don’t think simply employing a agent will achieve significant (in this case a sale of 2 )
results in this case.Sorry to ask Jo but could you tell us where???
I noticed in the Heralds Domain (Re listing ) that it looked fuller than normal.
Also on reading it saw prices listed on property again, instead of “for auction “Thats got to be a sign.
In the Hills there is a lot for sale.
One block of townhouses completed mid last year, looks very empty. When I go home at night there are only 15% of the units with their lights on. They have even put back out the front “Only 2 Left ” board from mid last year.
Its gonna be fun.
People like Meriton and Multiplex used to hire entire teams to flog their investments, beleive the commissions were pretty high, way beyond what a RE agent charges.
They did the full sale bit models printing direct mail, cold calls etc, not sure if you are too small for this. Would guess that the commission would be very steep for such a small scale.
Not too sure about yopur timing either..
Originally posted by wezwaz:Let’s say you had $300k in assets, could you create cashflow for life from investments,
. I am talking initial cashflow of $30k + with the aim obviously to ramp that up year by year.
Not only is cashflow important, but so to is growth.
Hmmmmm 10% return indexed to inflation+++, plus
capital growth, yes it can be done, all you need to do is come to my exclusive investment tutorial (note this is NOT a bogus investment seminar )
whereby I can personally show the way to make unlimited finacial wealth
Seminar,,,sorry tutorial costs a modest
$250,000, but if you follow my advice results are guaranteed.Quote:Originally posted by ez-rent:Bang on the money Matt.
Right now I am looking for a new PPOR and I see so many good houses that have been on the market for ages and have had reduced prices. A lot of sales are falling through in my area as well because the buyer cannot sell their old house in time to settle on the new one.
Paul
[email protected]
]Same with me EZ, and just as in a rising market ppl rush, when its slowing, you know you have choice and time, you can be very choosie and careful. You don’t pay a premium you want a discount.We are vacating our home and it will be a IP as we are moving somewhere bigger. We may wait untilthe forced sales.
Interesting to see what this weekend papers say.
Was he talking of CGT or GST ????
Now GST is avoided on a going concern, but not CGT.
Unless you want to spend $$$$$ on accountants and solicitors don’t go there.
If it is a going concern then the company can sell a business with no GST.
Regarding CGT exempt be very careful. I doubt a company owning 1 property especially residential would be a going concern. If the ATO don;t agree you could be in big trouble.
Companys don’t get the CGT discount and when they pass those profits on they are fully taxable to the shareholders. If the profit comes from CG no discount is available.
But the best advice is, if you want to check that out get out your intended plan and a bundle of $$$$$ and go talk to someone who has PI insurance so if he is wrong you have some recourse.
Also relevant to the question, is WHERE is it.
Originally posted by ANUBIS:I think there are at least 2 distinct residential markets with their own patterns and perculiarities. The unit market and the established housing market.
The unit market is in major trouble, and there will be blood in the streets. The established housing market is starting to soften but I can’t see any disasters befalling this sector, just small price yo-yoing.
Disagree, when units in the city drop big time, buyer from Strathfield and Parramatta, will buy there. When the units in Parra Strath become “dead loss stones” (ppl are now walking away from deposits on Parra off the plan,) ppl buying town houses will grab cheap units.
Ppl buying cheap houses will grab the town houses and so on down the line.
Only a guess, no-one knows.Should make interesting viewing.
One of Harrys towers in Parra has a 20% occupancy a year after completion and I have lost count of town houses for sale on Old Nth rd between Baulkam Hills and Castle Hill, positively breathtaking. received a mailer on Breakfast point to put up a $2K deposit to be put on the expression of interest list….Originally posted by kaloni:just to show you how bad the
docklands in melbourne are at the moment
a unit auctioned saturday was bought off the plans
2001 for about 955k was sold for 715kSounds bad but if they are an o/s buyer, when you take currency shifts into account, they may have broken even. Won’t help stabilse prices though.
Sydney and Melbourne are different to the rest.
Heard yesterday from someone in one of the major developers that the market is dead.
problem is they can’t really drop price, because
of the pre sales.
When it makes the Sunday paper headlines it will be official.
Joe Average, won’t beleive it till then.Marky I think you know the answers, I guess that many valuers will be generous in the value when its on the way up, because the value will eventually catch up, if they get it wrong, but on the way down they and the banks tend to exercise caution.
In some markets Adelaide Darwin NZ Perth the market may have a couple of months to go, possibly through to December depending how much the downturn here (Sydney ) becomes public.
But unless you really need the extra I would say the sooner the better,Depends WHERE your property is.
