All Topics / General Property / Property Market Hotting Up

Viewing 20 posts - 61 through 80 (of 82 total)
  • Profile photo of millionsmillions
    Participant
    @millions
    Join Date: 2005
    Post Count: 355

    I had to go out and didn't finish post.

    My strategy has changed to have good cashflow/deductions as well as growth.  I now believe you need a combination of growth/cashflow investments.  I'm still quite confident of Perth's market being steady for well positioned properties over the next few years.  I plan on selling prop 2 in about a year – pay off mortgage on PPOR, and a chunk off mortgage Prop 1.  We're thinking of planning a 3 month trip up north WA – Hubby's Long service Leave – which would be really nice with our 2 young kids.

    After that will have to reassess.  Possibly purchase another property that will be changing zoning to higher density.  Sub-divide and sell.  Pay off mortgage on Prop 1.  Develop Prop 1 into 12 townhouses.    Keep as many as I can afford and hubby can retire.

    I was looking at a 2 bed duplex, 5 yrs old, 350 sqm block, potential to add value in Bris 15k from city for $260k but missed out.  Market in Bris is hot and I'm not that patient to keep searching so will focus on my Perth properties and pretty prop 2 up ready for sale.

    My properties combined have gone up approx 250k+ in past 12 months and are well positioned.

    Regards, Linda

    Profile photo of CarollCaroll
    Participant
    @caroll
    Join Date: 2007
    Post Count: 3

    Hi I’m just beginning –
    Can someone tell me where to look for the auctions passed in? Thanks

    Profile photo of CarollCaroll
    Participant
    @caroll
    Join Date: 2007
    Post Count: 3

    Hi I’m just beginning –
    Can someone tell me where to look for the auctions passed in? Thanks

    Profile photo of dreamingdreaming
    Member
    @dreaming
    Join Date: 2003
    Post Count: 42

    Just brought a place in Port Noarlunga SA, 3 bed home 6 offers in on property from 1st open. Missed out on the last two I put offers in on.
    Went to an open inspection at moana on Sunday gone, was sold on 1st day, they had the open to advise people and get names I think.
    I thought the property market was meant to stay subdude for another couple of years?

    Profile photo of simplesimple
    Participant
    @simple
    Join Date: 2006
    Post Count: 237

    It is rather interesting how property market fluctuates from location to location. Some places are slow and others still boom.
    I would think, naturally, when it is boom – whole town (say Brisbane) is selling HOT, and when we start fluctuating, isn't it indication of becoming unstable?

    Profile photo of carlincarlin
    Participant
    @carlin
    Join Date: 2005
    Post Count: 211

    Went to an auction in leafy inner Adelaide suburb last week. Place advertised for 400+, sold for 492. Went to look at another property after auction and had chat with agent there about what had happened. He said "don't these people (paying high prices for places in Adelaide) read The Advertiser?". Said that the paper's full of places to rent, admitted that there's no shortage of rentals in some areas. Suggested that "WA mining money must be behind it all because Perth went through the roof a while back".
    His view (with some uncharacteristic honesty for an agent!) was that, with the state govt opening up so much land north and south, vacancies will skyrocket in Adelaide as renters are suddenly able to afford their own place.
    Adelaide probably looks great, price-wise, when compared to Perth, but best to do those sums on returns – and always get independent advice about what rent you can achieve + rental demand in that area.
    cheers,
    Carlin

    Profile photo of wannabe2wannabe2
    Member
    @wannabe2
    Join Date: 2003
    Post Count: 65

    interesting to hear about all the places around australia booming,western suburbs of sydney seems to be bucking the trend bigtime.loads of repossesion auctions very cheap,just bought a 3 bed brick house  for $155,000 ,put in a washing line and rented out for $220 per week straight away .just need to wait for the next wave to come along here.

    Profile photo of millionsmillions
    Participant
    @millions
    Join Date: 2005
    Post Count: 355

    So what have you been buying;
    houses?, units?, subdivs? – neg geared, pos geared?
    What has happened to those investments in 12 months and what was your plan when you bought them?
    If they are neg geared, has the cap growth kept pace or outpaced the shortfall?


    Cheers,
    Marc.
    [email protected]

    How have your investments been performing Marc?  Linda

     

    Profile photo of L.A AussieL.A Aussie
    Member
    @l.a-aussie
    Join Date: 2006
    Post Count: 1,488
    millions wrote:

    So what have you been buying;
    houses?, units?, subdivs? – neg geared, pos geared?
    What has happened to those investments in 12 months and what was your plan when you bought them?
    If they are neg geared, has the cap growth kept pace or outpaced the shortfall?


    Cheers,
    Marc.
    [email protected]

    How have your investments been performing Marc?  Linda

    Hey Linda,
    We haven't bought anything recently; our last purchase was a block of land across the road from our existing PPoR in Dromana(better views than ours) just before we left to come over here in '05, which will be for new PPoR in a couple of years. It was on an 18 month settlement (happened 2 weeks ago); the block cost $300k and the Bank valued it at $330k for finance, so 10% in 18 months on that. We have just been in debt consolidation phase since then leading up to the block settlement.
    Our PPoR has seen a 15% rent increase over the same period, and has doubled in value since '01. Owned outright.
    Other I.P's –
    one in Frankston bought 3 years ago has gone up 30-40%, and rent gone up 15%. This was neg geared, but we new the area was about to go so bit the bullet.
    2 in Kalgoorlie; a unit and a house. Both were pos cashflowed at purchase (bought in '03). Unit has doubled in value, with rent increase of 30%, the house has gone up by 50-70% (can't find many comparables) and has just had a new 4 year GEHA lease signed; rent increase of 10% now, with yearly rent reviews.
    So, overall, the cap growth has been nice, and the rents are going up; pos geared; we are happy.

    Profile photo of MysteryMystery
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    @mystery
    Join Date: 2006
    Post Count: 87

    To anyone interested in Brisbane price movement ….. Bought 2 x IP's in April 07 ……. and had them re-valued this week as part of a refinancing/portfolio restructure exercise ……..
    ________________________________________________________________________________________________

    Goodna – Paid $235,000 / April 07 ……………. new valuation – $285,000 …… $50,000 gain
    Redbank Plains – Paid $228,000 / April 07 ……new valuation – $270,000 ……$42,000 gain
    ________________________________________________________________________________________________

    Increased value of $92,000 in 4-6 months

    Martin

    Profile photo of millionsmillions
    Participant
    @millions
    Join Date: 2005
    Post Count: 355

    Mystery and other investors – do you expect Bris to continue at this rate or do you think affordability issues will affect Brisbane's growth?  Quite a few people I've spoken to in Bris lately with well paid jobs and 1 – 2 properties want to invest in property but can't afford it.  Is this a common scenario?  Linda

    Profile photo of minglingmingling
    Participant
    @mingling
    Join Date: 2007
    Post Count: 39

    Hi,

    some update from Singapore ! fyi. cheers !

    S'pore housing market heads for correction
    http://news.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20070914-25469.html

    Profile photo of bardonbardon
    Participant
    @bardon
    Join Date: 2004
    Post Count: 557

    Hey millions, I expect Brisbane to grow don't forget it has been flat for a few years but I don't know much that's why I am sticking with Residex for locations they seem to get it right and they are saying 15% growth for the next 8 years where I am buying.  There are many areas that are still affordable and potentially good investment areas, the big end of town is still appreciating rapidly as well.  There is a lot of major infrastructure projects on now, low unemployment, diverse economy, big population growth and housing supply problems.  Don't forget also that loan products are more sophisticated making it possible to buy more properties so although prices are up you can still get finance to buy them this in its own will support price growth.  I was looking at waterside properties 3/2/1 today less than one hour to Brisbane CBD under 500k.

    Profile photo of eterniteternit
    Member
    @eternit
    Join Date: 2007
    Post Count: 26
    wannabe2 wrote:
    interesting to hear about all the places around australia booming,western suburbs of sydney seems to be bucking the trend bigtime.loads of repossesion auctions very cheap,just bought a 3 bed brick house  for $155,000 ,put in a washing line and rented out for $220 per week straight away .just need to wait for the next wave to come along here.

    Hi wannabe2,

    I am interested to know which suburb did you find this property?

    Thanks.

    Profile photo of hawks1hawks1
    Member
    @hawks1
    Join Date: 2007
    Post Count: 1

    Properties in Kingston Tas seem to be on the up in the median price range anyway. A basic 3BR brick veneer tiled roof house with ensuite and with storage under purchased for $205000 31/2 years ago sold in less than 2 weeks for $295000 this month. Even after $10000 spent on improvements and allowing for $10000 agents selling commission not a bad return. Borrowed 100% + costs + improvements and was getting $260 per week rent. Paid $400 for a valuation that suggested $280000 and rental value of $280 per week. That is 1 of 4 negatively geared properties out of the portfolio.
    Rather pleased I paid for the valuation before putting it on the market.
    Best Wishes
    Hawks1

    Profile photo of bennidobennido
    Participant
    @bennido
    Join Date: 2004
    Post Count: 195
    Caroll wrote:
    Hi I'm just beginning – Can someone tell me where to look for the auctions passed in? Thanks

    In Melbourne, they publish the auction results in the papers including those passed in.

    Profile photo of ianvestorianvestor
    Member
    @ianvestor
    Join Date: 2003
    Post Count: 12
    Mystery wrote:
    To anyone interested in Brisbane price movement ….. Bought 2 x IP's in April 07 ……. and had them re-valued this week as part of a refinancing/portfolio restructure exercise ……..
    ________________________________________________________________________________________________

    Goodna – Paid $235,000 / April 07 ……………. new valuation – $285,000 …… $50,000 gain
    Redbank Plains – Paid $228,000 / April 07 ……new valuation – $270,000 ……$42,000 gain
    ________________________________________________________________________________________________

    Increased value of $92,000 in 4-6 months

    Martin

    Cool, I bought a unit at Toowong in February for $254,000. Bank val for July was $290,000. So $36,000 in 5 months, and that's on a relatively cheap property!

    I wish I could have bought into Ashgrove when I wanted to at the start of the year… that's gone from $390,000 minimum for a house to around $450,000 minimum now.

    Profile photo of Vanessa-AnnVanessa-Ann
    Member
    @vanessa-ann
    Join Date: 2007
    Post Count: 1

    Property prices on the move in George Town Tasmania and going fast – loads of investors there buying up like crazy ahead of the new Gunns Pulp Mill announcement due out in the next couple of weeks. Even without the Mill, new Seaport Marina hotting up prices as well. With Mill, rentals said to double (although I'm not so sure about doubling) but at a minimum should increase by at least 30% – 40%. Worth a look!

    Profile photo of kmiddletkmiddlet
    Member
    @kmiddlet
    Join Date: 2005
    Post Count: 22

    August 2006 we purchased a rundown war service home with a DA in place in the old state housing part of Ashburton VIC (IE: south of High St between the railway and Warrigal Rd) for $465000. The idiot valuer from Commonwealth Bank said we paid too much! Challenged them and got it revalued to the purchase price.

    Two weekends ago beautifully renovated and extended version of our rundown old house 100 metres around the corner sold for $783,000.

    To prove it wasn't just the "value-add" of a renovation, last weekend we went to another rundown war service home two blocks away in the same area and bid to $680,000 and it eventually sold for $740,000.

    That Commonwealth Bank valuer should eat his shorts!

    Red hot market? I'll say!

    Profile photo of bardonbardon
    Participant
    @bardon
    Join Date: 2004
    Post Count: 557
    Vanessa-Ann wrote:
    Property prices on the move in George Town Tasmania and going fast – loads of investors there buying up like crazy ahead of the new Gunns Pulp Mill announcement due out in the next couple of weeks. Even without the Mill, new Seaport Marina hotting up prices as well. With Mill, rentals said to double (although I'm not so sure about doubling) but at a minimum should increase by at least 30% – 40%. Worth a look!

    I remember George Town reminds me of my home country of Scotland all those green hills and water views hope it all works well for you down there I think there is going to be some kind of gas plant built there as well.

    In the process of refinancing and my PPR was revalued by bank 20% higher than 6 months ago purchase price in Bulimba, Brisbane.

Viewing 20 posts - 61 through 80 (of 82 total)

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