Skip this is the thing.
If I can now buy a 700-800K house for 600 (not using extremes here), then why would I pay the guy with the 550 house more than 450, or the devloper selling new townhouses for 400 more than 350 or the apartment that sold for 290 for more than 220.
It creeps bracket by bracket and suburb by suburb.
Agree that rates of return are the key to correct investing, something that got left behind with the "emotional" value of a home.
but IMHO no bracket is immune
ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.devo76 wrote:ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.I`m pretty sure that 600 sqm on the harbour won`t cost only $200,000 but maybe $2,000,000 !!
We were talking of your land. Is that on the harbour?
ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.I`m pretty sure that 600 sqm on the harbour won`t cost only $200,000 but maybe $2,000,000 !!
We were talking of your land. Is that on the harbour?
The harbour i wish. But its not in the middle of the desert either. Its in a cbd area that cannot expand anymore due to things like cliffs,rivers etc. Its a desirable area to live with only a handfull of blocks remaining in the cbd.So if you want to live close you will have to pay a premium. This is the same everywhere. I do agree that there are many overpriced properties around but i do not think that this can be said for all property.Choose well and pay a good price and you will be OK. Not rocket science really. I will admit that my first Ip is not ideal but i have learnt alot and know exactly what to look for know and how much to pay. Im looking foward to the next step.
devo76 wrote:ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.I`m pretty sure that 600 sqm on the harbour won`t cost only $200,000 but maybe $2,000,000 !!
We were talking of your land. Is that on the harbour?
The harbour i wish. But its not in the middle of the desert either. Its in a cbd area that cannot expand anymore due to things like cliffs,rivers etc. Its a desirable area to live with only a handfull of blocks remaining in the cbd.So if you want to live close you will have to pay a premium. This is the same everywhere. I do agree that there are many overpriced properties around but i do not think that this can be said for all property.Choose well and pay a good price and you will be OK. Not rocket science really. I will admit that my first Ip is not ideal but i have learnt alot and know exactly what to look for know and how much to pay. Im looking foward to the next step.
I wish you the best mate, really. From what you say it sounds like a great deal you found. But for many others out there, mothers and fathers with children to look after, the mortgage nightmare is just going to get worse if oil keep rising, because it will push up inflation and the RBA won`t have a choice but to rise again the rates.
devo76 wrote:ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.When peak oil is finished with our ass then my friend, unless you know how to garden, your bricks and mortar will only be good for rat shelter.
Have a nice day. http://www.latoc.com
ormeau wrote:devo76 wrote:ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.When peak oil is finished with our ass then my friend, unless you know how to garden, your bricks and mortar will only be good for rat shelter.
Have a nice day. http://www.latoc.com
Great .Another shoot from the hip,extremist,fear filled, comment. We are all going to die when a huge meteor hits soon anyway so why bother hey.I didnt realise that when oil runs out we are going to start living under the stars.I would have thought that if that happens centrally located property near transport would be more valuable. Hey isnt that what ive been saying all along.Alternate fuels exist and when Oil gets pricey enough they will be used. No point spending money on introducing alternate fuel while we can still suck that black stuff out of the ground.Atleast thats what the oil companies think.Mad max hear we come.
Havent had a comment from a suicide cult yet. Any of them out there want to add a quality one liner like the above.
agree with your reaction to the doomsdayers, they tend to look at one side of the equation (the problem) and never acknowledge developments on the other side. Peak oil will change everything, transport fuel is only part of the issues as petrochemicals are embedded in most of western style civilisation. However people arent sitting on their hands, and the market is driving the development of alternatives. Personally I happy have prices go high and stay high even though its painful throttle our usage and encourage R&D. We are in a priviledged position on Oz, with low prices by world standards and significant Natural Gas and LPG resources. Away from the media I have been noticing that people seem to be whining less and adjusting more…….doing the many small things you can do rather than sitting back waiting for a silver bullet…..or armageddon
Wow wee, I'm a doomsdayer extremist? Well what do you know? So you guys are the resident experts on energy then? Well now that makes me feel all warm and fuzzy inside.
So we are going to replace 48% of agricultural fossil fueled based production cost with some market driven magic bullet then yeah?
We are going to bulldoze all the homes around the Sydney metro basin and replant the crops that fed Sydney over 60 years ago? And this is all going to happen overnight yeah?
I suggest you get your heads out of the sand and start researching guys,
So lets see, all the people interviewed in this special event Four Corners/Catalyst programs are all Doomsdayers? They must be because I am one of them. http://www.abc.net.au/4corners/special_eds/20060710/default_full.htm
http://www.abc.net.au/catalyst/stories/s1515141.htm
Oh, i thought I should throw this shallow argument in as well http://www.abc.net.au/science/crude/
The free markets will save us! Our government is so blind to the tsunami of economic destruction its makes me want to cry, I know the solution is there guys, the unfortunate reality is our leaders are doing jack in time to avoid an economic collapse that will be unprecedented in modern history.
But you already know that I bet.
Good reply Yarpos……….. Did anyone see the two young men who built a Hodrogen converter and installed it on their old Falcon and saved 20% in running costs. Water into Fuel. I wonder how the Govt can place a tax on water for clean energy – guess this one's destined for the scrap heap like so many others. Imagine how the whole world would change if oil were able to be replaced and made worthless.
ormeau wrote:Wow wee, I'm a doomsdayer extremist? Well what do you know? So you guys are the resident experts on energy then? Well now that makes me feel all warm and fuzzy inside.So we are going to replace 48% of agricultural fossil fueled based production cost with some market driven magic bullet then yeah?
We are going to bulldoze all the homes around the Sydney metro basin and replant the crops that fed Sydney over 60 years ago? And this is all going to happen overnight yeah?
I suggest you get your heads out of the sand and start researching guys,
So lets see, all the people interviewed in this special event Four Corners/Catalyst programs are all Doomsdayers? They must be because I am one of them. http://www.abc.net.au/4corners/special_eds/20060710/default_full.htm
http://www.abc.net.au/catalyst/stories/s1515141.htm
Oh, i thought I should throw this shallow argument in as well http://www.abc.net.au/science/crude/
The free markets will save us! Our government is so blind to the tsunami of economic destruction its makes me want to cry, I know the solution is there guys, the unfortunate reality is our leaders are doing jack in time to avoid an economic collapse that will be unprecedented in modern history.
But you already know that I bet.
why do you think nobody else does their research?
just because we dont have the same perspective or communicate in the same patronising ranting style does not mean we are ill informed
yarpos wrote:why do you think nobody else does their research?just because we dont have the same perspective or communicate in the same patronising ranting style does not mean we are ill informed
Why do you think I am a doomsdayer with a ones sided view of the world?
ormeau wrote:yarpos wrote:why do you think nobody else does their research?just because we dont have the same perspective or communicate in the same patronising ranting style does not mean we are ill informed
Why do you think I am a doomsdayer with a ones sided view of the world?
Give up on peak oil, point taken we don't need to hear it 100 times.
ormeau wrote:yarpos wrote:why do you think nobody else does their research?just because we dont have the same perspective or communicate in the same patronising ranting style does not mean we are ill informed
Why do you think I am a doomsdayer with a ones sided view of the world?
re read your last note……what perception would you think is created by the tone and the content…..maybe I have selective memory but when is the last time you said something +ve?
actually my response was to the dialogue the other two guys were having, your response sort of came from the clouds but I see you were engaged earlier. The doomsdayers comment reflects on a whole class of forumites who get on and do little but predict gloom and doom. Its up to you as to whether you feel you are in that group or not.
I guess I am just getting weary of the property collapse , peak oil, global warming story presented as some news or insight . I am not stupid (most people here are not stupid). We do have different views of the world however. I know that we have immense problems and I fear for my kids futures. I dont need that rubbed in my face again and again and again. I get it, I got it years ago, I want to so something about it. I have done almost everything i can in my small world of home and work (still some stuff to do but I reckon I am about 80% of what is available and what I can afford). The type of dialogue going on here is unproductive in my view. Having said that I will focus on the property content of the forum and people who want to create something or are just looking for help.
hollandguy wrote:ormeau wrote:yarpos wrote:why do you think nobody else does their research?just because we dont have the same perspective or communicate in the same patronising ranting style does not mean we are ill informed
Why do you think I am a doomsdayer with a ones sided view of the world?
Give up on peak oil, point taken we don't need to hear it 100 times.
I need to go to your school of concise-ness……….took me 20 lines to say the same thing in the end
What makes you feel that I went to a school of concise-ness?
ormeau wrote:What makes you feel that I went to a school of concise-ness?its not about you ormeau, the quote(refer heading and last line) is hollandguys
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