Philip Island

Howdy,

as promised, I read the article… some interesting info, but nothing really new if you knew Melbourne and Victoria. By the way, I never said it wasn’t a good area. It’s got a lot of qualities, but I don’t think ANYWHERE in Victoria will BOOM over the next couple of years. It’s been and gone. However, it will be back… I can’t see the point of being negatively geared to the schizen-hausen (Rex Hunt speak) with little prospect of CG in the short term.

Just to test the waters, I rang the agent we sold our house through in Blairgowrie. We sold for 340k… he reckons we’d struggle for 310k now because the buyers aren’t there.

That means, if he’s right, the people who bought it are down 30k in 6 months. I think the prices will soften further over the next 18 months… and when they do, that’s the time to buy.

I still stand by my comments throughout this thread, especially “I still can’t get my head around how people expect places to keep on booming after CG of 200-300%+ in the past few years.”

And, as I repeated ad nauseum through this thread, I hope anyone who invested/owns on the Bass Coast does really really well. Let’s revisit this debate in 12 months or so.

cheers
r

richmond – apology accepted.

i guessing you read the bit about people in the know saying bass coast will grow twice (population) as fast as the state average….hehe

your other points are noted and fair enough.

the point i was trying to make was a person asked if anyone thought philip island was a good investment.

i suggested due to

– baby boomers
– downsizers
– sea changers
– growth corridoors
– projected growth (highest in the state)

that this person could do a lot worse than the choice she has made

and you took umbridge

and then to back me up australias number one property magazine repeated these thougths verbatim not only about holiday houses but the exact area we were discussing.

doesnt matter – i just reckon if you had read the article first you would not have been so dogmatic in your distaste for coastal property – in the current market.

i would also add that if you have a number of properties in your portfolio and none of them are coastal properties then you are taking a huge risk.

ignore the boomers to your own detriment.

API is a magazine and yes they wanna help the industry. as does your realestate agent who no doubt undervalued balirgowrie so you might be tempted to jump back in to secure the limited coastal properties the world has left to offer..

happy to compare down the track

cheers
rogue

richmond – you are defensive. your tone including your reference to Mc Mansions and your sister just show that you have a superiority thing going. lose it, accpet you arent always right .

i hope your last comment was your last buut i doubt it!!