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My dad and his partner own a small Mitre10 store, they've noticed a real slowdown in the last 12- 18 months, however have picked up a bit in the last 2 months (possibly related to publicity from 'The Block'). They are keeping their head above water at the moment, but spending is definitely down.
I've noticed a lot of empty shops at our local shopping mall as well.
I think the southern area has been pretty heavily hit by the GFC. There have been quite a few job loses in the manufacturing industries in Lonsdale and people generally aren't spending money – not sure if it has since picked up, but was pretty bad there for a while (my dad owns a business in Christies Beach). Perhaps its a good time to grab a bargain? It's a nice area – although it does give you the feeling of living in the 1960s
I've found Aldinga to be primarily first home buyers who are willing to commute the extra distance if it means they can enter the housing market. I've considered it myself, however, in my opinion its not really a renters market – its too far out. Having said that, there have been some decent capital gains in the last 2-3 years.
Thanks for your responses.
I really like the idea of the trust – Terryw, you've definitely given me something to think about!
My son will be 18 in about 15 months, so it sounds like it might be easier to loan him the money then – and in the mean time get him into a regular savings pattern.
Thanks everyone.