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South Yarra is certinly as blue chip as they come. The suburb does vary considerably however, for example Darling Street is full of low rise apartments, and has a high renter population. Many other apartments in other parts of SY tend to more OO, for example Avoca At which is the next Street south parallel to Darling. Just get to know the area, so you get what you want.
You can gain access to Eastern Euro, including Polich retail property via APN Euro property trust, ASX code: AEZ.
Hi all,
I would be interested in starting an investment…..”gathering” or “group” in Melbourne. I am 27 and have a fairly extensive share portfolio. I am learning about residential property and have a fair idea where/what i want to buy in a few years time, i.e. once the pent up issues in the Australin economy are sorted out. There is no reason why the group needs to focus solely on residential property, there are opportunities everywhere.You may be right, and it certainly isnt a suburb that will collapse in any significant overall market downturn either. Have you been looking in the area? i was considering it, and still potentially might at some stage, have you looked into Altona at all? I have started sussing out down there aswell after starting to do some volunteer work down there. Seems very nice, lovely village feel to the shopping strip and plenty of beach. Unfort you have to get through heaps of industry to get there, nonetheless, below average median house prices by the truckload and is showing modest signs of gentrification.
Ahhh one of my favourite suburbs Footscray. I love going there to eat or shop…..however, you must ask yourself…if these reasons to invest are really valid for property prices in Footscray
1) “close promitiy to the CBD”….but Yarraville has “gentrified” and Footscray shows little sign of doing so. Simply put, and not being racist, but “Australians” like every nationality i have encountered are pretty racist. They dont want to go down to their local shops and see Minh Phat bakery, they want to see people (looking) like them, selling products they know. Ok big sweeping statement which isn’t always true, but let’s face it, it often is true and often enough to effect property prices significantly. Look at all suburbs with significant non white Aussie populations, they are all low property prices. Let me be straight here, i would live in Footscray but i am not a sheltered middle class wannabe (the people who are likely to “gentrify”) i.e. the people you would be hoping to rent or buy your property at a higher price than me.
2) Crime…..no one cares about crime in Collingwood or St Kilda, or even the CBD for that matter, so i am not sure how much this effects the current market prices.
If you want to live there and like the area then go for it, it certainly is cheap, but the road to capital gains may prove a long one….
I believe it is 45 rent & 55 oo, i have friends down there who say it is a very diverse suburb also, so that ratio may vary significntly within different areas of the suburb
Thanks for the input guys,
What operator have you got leasing your hotel room attrill?
CheersAny more opinions/experiences out there?
Indeed your synicism is well founded. Nobody can predict how assets prices will change in the future, especially for residential property which at a broad level is basically driven by income growth and interest rates (and credit conditions). Most measures suggest that property is “overvalued” still, this of course doesn’t imply that it can’t get more overvalued soon, but the medium/long term future trends are dictated by macroeconomics as much as anything else, and Australia’s macro outlook isn’t strong and won’t look strong until we have some serious depreciation in our currency and i suggest this isn’t coming anytime soon…
Views on immigration will change and we will up the numbers…..someone has to work here and pay taxes.
Perhaps think of what Indians and Chiese like in their properties?
Hi,
Have you read my thread called “hotel rooms”? I discuss some issues about these apartments there.In terms of finance, depending on how much the 15% is in $ terms, consider a new credit card. Provded your cacpacity to service is ok, you should be able to get 10-? k limit, simply cash advance the amount required and rollover the debt amount to another card operater every six month to take advantage of the low intro rates that just about every institution offers. I did the same when starting out with shares a few years back, i recall paying 4-6 % for a few years on the balance with various institutions. Not only is there potential for lower lending rates, you also get the cash very quickly.
Good luck with it
That is a remarkably high yield. Obviously there are significant risks or fine print. As any investment the current yield is only a very small amount of information relative to what you need to value the asset.
It’s good to see you being enthusiastic, but when you are inexperienced, everyone else can tell and will happily take you for a ride…don’t be the “sucker” born this minute. Be well informed about the market you but into,
Cheers and good luck with it!
