here are some examples, half that development is for sale, maybe the ones actually sold are close to fully leased,

http://www.realestateview.com.au/cgi-bin/results.pl?GID=100&s=27178250&p=1&BS=10&Thu=on&Qui=&tp=&rev=&Order=listed&Con=S&critflag=&alphalnk=1&alphacol=aaaaaa&Bkmk=_&OFI=

are you sure about flinders wharf?, I read an article in the paper some time ago reporting that agents Butler and co were trying to see around 70 apartments in that block and had only managed to sell 2 over a period of several months, I had assumed these couldn’t be sold before completion sounded like it was the developer trying to sell…[Read more]

I’m not sure the slum comments will hold true, as a comparison to the CBD southbank is much quieter and has a fairly upmarket feel especially along the yarra, I have rented here for 2 years and you get some noise which is mainly related to people coming from the casino plus some lots of younger people from nearby clubs but overall it is not…[Read more]

Agree with Nat, I don’t think it is particularly concerning that someone should have negative equity in their property, apart from the risk to lenders if the defaulted.

I think if someone cannot save, regardless of the type of investment used, they will never be rich, in fact they will likely never be worth more than their next pay packet.

note companies do not get the 50% discount on cgt.

is this off the plan stuff or perhaps something a developer is selling? if so make sure you look at a large amount of aftermarket sales before commiting yourself, often off the plan stuff is badly overpriced.

Originally posted by gmh454:
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 715k

Sounds bad but if they are an o/s buyer, when you take currency shifts into account, they may have broken even. Won’t help…[Read more]

Originally posted by kay henry:
Boom Crash Opera folks [cap]

“Anything under 40 per cent and things are looking pretty scary,” said Louis Christopher, research director at Australian Property Monitors.

_____________________

Well, there’s something I was looking for. According to the article, 40% means a crash!

Here’s a crash face: [weird]

kay…[Read more]

Originally posted by kay henry:
Boom Crash Opera folks [cap]

“Anything under 40 per cent and things are looking pretty scary,” said Louis Christopher, research director at Australian Property Monitors.

_____________________

Well, there’s something I was looking for. According to the article, 40% means a crash!

Here’s a crash face: [weird]

kay…[Read more]

I’m not sure about the market “crashing soon”, this isn’t like the stock exchange where you wake up one morning and values have fallen 30%. The price declines looks to have well and truly started in many areas, though personally I don’t think there will be particularly large overall falls.

Out of interest on the stockmarket a “crash” is…[Read more]

Nothing wrong with a buyer offering 20% less than the true value, is the sellers agree they should be congratulated for their sharp business skills.

acey’s comments are bang on the money, its takes sacrifice to build wealth, the toys are sucking your finances down the drain by the sounds of it.

I think if you sell at the moment you’d be taking a fair loss, 426k sounds pretty high for an apartment that size. The docklands seems to be an ugly place at the moment for many who have bought off the plan.

Originally posted by gmh454:

A one bedder bought in 2002 for 425,000 top bidded at $360,000 now on the market for $399,000
and a “beutiful 2 Bedder” bought for $825,000 that did not attract a bid, now on the market for $690,000. Both originally bought by a NZer.

I’m hearing similars thing in Melbourne also for inner city apartments, one I…[Read more]

If you try to climb too many rungs at once you are probably going to fall down.

Have you though about what you could do on the net? Lots of students get invloved in this area as they often have alot of skills in that area and start up costs can be very low.

In terms of business generally my suggestion would be think about what your hobbies/interests are are and consider something related to them.

what kind of asking price are you looking to buy at, in terms of cashflow a mortgage on a ppor is likely to suck out and awful lot more cash than renting.

Have you considered renting and buying an ip?

Just a few thoughts,

Freshwater Place and Eureka towers really aren’t in the same league as the central Equity buildings going up, the quality is much higher and the location better ie on the river where the views can’t be built out for many apartments. Eureka in particular is likely to be a very exclusive building with the top penthouses going…[Read more]