Forum Replies Created
Harsh comments on this topic from a friend of mine from the UK:
“If you bought anything for 18-40K pounds in the UK especially around Manchester then you would:
1. Be buying in a disaster area full of druggies, pimps and wino’s.
2. The property would be fit for the wreckers and it would be ready to condemn.
There are no worthwhile properties in or around Manchester for that price that would give you anything like that return.The suggestion is at best misleading, delusional and at worst akin to pyramid selling or buying a high rise in Surfers for the ‘investment’. MAD!
Most of manchester is a tip, a place to wipe your feet after visiting, a place to run not walk from – those prices get you a public housing unit in a REALLY POOR area at best.”
Companies in Sydney are offering to do a schedule for me for around $6-700. Oddly enough, one of them has a standard disclaimer at the start of their report stating something along the lines of “this schedule is not to be used for tax purposes” or “has not been prepared for tax purposes”.
Pisces’ “Housing market” – does that include interest rates?
The impact of the potential for interest rate hikes in the short to medium term on the attractiveness of currently CF+ properties has not been discussed as yet.
I wonder if most CF+ investors have taken out interest only loans…
I am thinking that there may be a strange element of irony in this here strand, as an article I read last year about the rise in property prices in Australia (I think it was a SMH article on property investment statistics, can’t remember, sorry) indicated that property investers heavily influenced recent price hikes due to their presence in the market.
Now here are property investors trying to understand how changing market conditions will affect them when perhaps the changes are actually being created by the same people.
I am probably generalising a bit too much but then again why have all these rural properties increased in price so much recently, as contributors seem to be saying?
One of the replies to this topic said that it is important to build relationships in this game. Maybe, but what is the chance if the RE industry is, as many claim, to be full of sharks, crooks and liers.
I see that a lot of people have been buying for investment purposes in the Aussie market, if not in droves over the last 3 months. Apparently ~40% of property owners in Australia are investors (Reserve Bank this week in SMH).
I remember reading posts on this forum a while back suggesting that investors don’t really influence prices (i.e. don’t cause price hikes) to any great extent, being claims that were somewhat defensive WRT to the property investor’s cause.
40% has got to have a reasonable influence on the prices of property and, if this is the case, the impending influence will surely be reflected by falling prices if the market is not felt to be ‘right’ for investors?
James
