Reverting to earlier in the topic, rent returns are often quoted as a reason for real estate prices to fall.
This may not be the case in the continuing low interest rate regime we now live in.
Rent returns of 6% net which applied ten years ago were achieved in in a much higher interest rate environment.
Now you can get about 5.5% at call, not…[Read more]
Median is almost useless in the real estate world. The problem is with sampling, where sample self-selection is common.
i.e. “The median for properties in post code (xxxx) has fallen 40% in the last quarter” is laughable if it wasn’t so sad for those that believe such a statement has any statistical meaning.
If ever there was a business opportunity in Australia it is for a high quality property management business. At present you get the young girl with no experience or “Gina-hard-faced-bitch” types. Neither are ideal and the agency itself just wants your listing because that’s how Real Estate Agencies are valued for asset purposes.
Pretty poor all round.
I have a letter from Centrelink which states that Council Rates Notices are the documents of proof of ownership and value of a property. They will step out of that method only if they suspect dodgy goings-on.
Centrelink decisions are subject to appeal.
If WA is anything like the rest of Oz, the local government must advertise its intention for any rezoning, whether intnded for strategic planning reasons or as a result of a request from an owner of the land.
Then all and sundry can object, but not on any old grounds, befor a decision is made. Check local papers, municipal office and their…[Read more]
Any summer activities will fizzle out if ski seasons shorten. It is only the winter income that pays for anyone to be operating in summer. Ski businesses are scratching to make decent returns in Australia now and in Victoria at least it is State Government policy that skiing will be much less viable by 2020, only 15 years hence.
Look at prices…[Read more]
I have been advised by a real estate contact of mine who has sold in Frankston for 20 years, “Confine your purchases to south of Cranbourne Road”.
This guy tried to make me rich by offering a parcel of land for $180k which sold for $450k 18 months later, I dithered and missed out.So I listen to what he says.
Where I operate the local authorities are approving stuff you’d never have got through years ago. I’m talking backyards with second dwellings where the ONLY vehicle access is by means of the old narrow lane separating the blocks, with only a footpath leading to the street!
This is in a designated growth centre.
There is a nationwide shortage of…[Read more]
Whoooaaah back a bit. People are certainly not leaving every country town in droves! In fact, as any planner will tell you, country town dwellers move less frequently than urban folk.
Select country towns are doing really well at the moment, depends on their “point-of-difference”. As with locations, the secondary and the compromised will…[Read more]
christobel, the one piece of advise I would give to anybody in property is “Never believe an Estate Agent when they talk about the market”. Remember, they have one aim, turnover, and it doesn’t matter a hoot if the market is rising or falling to them.
Why not develop yor own methods for working out which way the market is really heading. No-one…[Read more]
The way we do developments is to look for adding value. We’re not into renting after developing nor do we expect much capital gain.
We look for properties where an existing dwelling is do-uppable and there’s room for a second. We get dev. permits for 2nd dwelling and sub-divide into two lots then build the second.
We use pro…[Read more]
An unfashionable short post next.
As just a citizen you will be doing PAYE tax returns: not a professional developer.
Maybe a partnership next, doing a property or two but mostly income from personal services/contracts. Not yet.
Then one day the Tax Office says, hey, you are earning most of your money out of property development. Then you are…[Read more]
Valuers who write about these things say this:
There is a long-term push to move to the coast, it has years to go. But well located inner city (up to 8km radius) will do well too. Places that those who can’t afford coastal retreats go to will also do well. The zone to suffer in a couple of years or so are the broad swathes of middle…[Read more]
When I thought about commercial. a very reputable commercial agent told me to only invest when I could afford property with National tenants. I’ve got freinds with small commercial and they are always looking for a tenant and have loooong vacancy periods. It’s because of the specialised layout and fittings not having a generic appeal, unlike a…[Read more]
This is VERY dangerous ground. The problem is exchange rates, which you have no control over. Japanese culture is very “follow the leader” and once climate change enters the consciousness there will be a run from anything to do with snow.
I would even get out of Australian alpine property if you have any; the latest poll out today of Australian…[Read more]
aussierogue, you just beat me to it; it’ definately sentiment at the moment. For someone like me, who was investing in property in the 70’s when interest was 11 to 14%, and even 18% in the 80’S, this is about to become the buying opportunity of all time!
Systems vary state to state etc. In Victoria a second dwelling is allowed in some Res 1 Zones, look at the planning scheme maps to find out. The Overlays are the critical documents.
The you have Rescode and requirements for outside living space, sunlight etc.
You apply for a Development Permit and if you get it you can build a second dwelling…[Read more]
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