All Topics / General Property / Commonwealth Games 2006- Impact on Melbourne Prope

Viewing 14 posts - 1 through 14 (of 14 total)
  • Profile photo of hmackayhmackay
    Participant
    @hmackay
    Join Date: 2004
    Post Count: 197

    Hi all,

    Just wondering what people think about the Games in terms of property prices in Melbourne.

    I remember last year an associate employed by a property marketing company stating that inner city property prices would increase significantly as a result of the Games.They were selling units in the city with water views.

    Unfortuantly I did not keep all the porno sorry, promo material to compare prices.

    Any comments/ thoughts please.

    hrm

    Profile photo of richmondrichmond
    Participant
    @richmond
    Join Date: 2003
    Post Count: 831

    I can’t see them having any impact whatsoever and I am a Melburnian.

    Cheers
    r

    Profile photo of oziozi
    Member
    @ozi
    Join Date: 2004
    Post Count: 262

    A while back some guy was telling me that after the games there will be glut of inner city apartments on the market, including the significant number of apartments they have built purposely for the games. I don’t have any sources to back this up, but if true, I would think that it will affect inner-city prices in a negative way.

    Regards,
    Ozi

    Profile photo of ToolsTools
    Participant
    @tools
    Join Date: 2003
    Post Count: 363

    I don’t think it will have any effect on prices.But it certainly will on short term accomodation.I live about 200 metres from the MCG,and can see it from my front door.Just out of curiosity,I googled to see what people were asking for rental houses during the games.Going on what I saw,I could probably ask around$5000 for a week.I even saw a place for $2000 and the big selling point was that it was only 1.5hrs from the games!

    Tools

    Profile photo of oziozi
    Member
    @ozi
    Join Date: 2004
    Post Count: 262

    Tools,

    If thats the case, you should consider pitching a tent up in the backyard and maybe renting the house out to some tourists? [biggrin]

    regards,
    Ozi

    Profile photo of hmackayhmackay
    Participant
    @hmackay
    Join Date: 2004
    Post Count: 197

    Games Accommodation?

    Anyone know what is planned for the purpose built accommodation after the games.could this be an opportunity!

    Tools: Perhaps a good time to take a holiday for $5K

    hrm

    Profile photo of MichaelYardneyMichaelYardney
    Participant
    @michaelyardney
    Join Date: 2001
    Post Count: 617

    A number of years ago, proeprty watchers predicted that the Commonwealth Games would boost the Melbourne property market.

    Apart form some extra construction work, it has done little to the property market and will do nothing for prices.

    It will boost short term accomodation and hotel usage for a while.

    Michael Yardney
    METROPOLE PROPERTIES
    Author of Australia’s leading property e-magazine.
    Join over 10,000 readers each month.
    FREE subscription http://www.metropole.com.au

    Profile photo of C2C2
    Participant
    @c2
    Join Date: 2002
    Post Count: 518

    Don’t know if the prices will go up, but 2 rooms in a property approximately 50 minutes from the city semi rural area has just been booked for 2 weeks at $3600. No meals provided but pick up and drop off to the nearest tramstop is.

    If you have any spare rooms now is the time to advertise.

    C2

    Profile photo of BDMBDM
    Participant
    @bdm
    Join Date: 2002
    Post Count: 93

    G’day,

    Friends of mine live in Sydney, and they rented their house out for two weeks to a family from Finland during the Sydney 2000 Olympics for an absolute fortune. They suggested that we do the same during the Melb Games coming soon.
    My initial research suggests that my family home in Mt Waverley would rent for $2000 plus (and possibly even $3 grand ) for the 10 days of the games !! My wife and I are seriously considering it….

    Thanks,

    BDM

    Property + Music : what else is there ?
    http://www.mattsmusic.com.au
    http://home.iprimus.com.au/mattandrobyn/index.htm

    Profile photo of depreciatordepreciator
    Member
    @depreciator
    Join Date: 2003
    Post Count: 541

    Will anybody go to the Commonwealth Games? They’re a bit of a quaint anachronism. Howard will love them – he’ll be channelling Menzies for the entire time and revelling in the glory days of the commonwealth.
    Any talk about property prices set to boom will be developers trying to offload stock they’ve been stuck with.
    I don’t imagine there have really been any ‘apartments built purposely for the games’ despite what the developer ads might say.
    I imagine there are several accomodation sites up and running. House/apartment owners would register and be checked out – they need to meet certain standards.
    The most lucrative short term tenants would be the media who usually arrive some time before the events to get organised. Most of them would have booked accomodation ages ago.
    If you rent your house out (and yours would be contender, Tools), make sure insurance etc is in order.
    When are the games?
    Scott

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    Profile photo of ToolsTools
    Participant
    @tools
    Join Date: 2003
    Post Count: 363

    They would have to be offering me a hell of a lot more than $5000 for me to rent my house out.I just don’t like the idea of people being in my private space.For $5000 it isn’t worth the hassle or the worry.

    Tools

    Profile photo of depreciatordepreciator
    Member
    @depreciator
    Join Date: 2003
    Post Count: 541

    I knew people who did it in Sydney during the Olympics. They rented a small mini storage unit and put alot of personal stuff in there. The garage took some of their excess furniture. It actually turned out to be a great opportunity to have spring clean-out. Then they headed out of town for a month on a holiday. Of course, they missed being in Sydney during the Olympics, which was an amazing experience.
    I’d be tempted for $5,000.
    Scott

    Tax Depreciation Schedules
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    Profile photo of C2C2
    Participant
    @c2
    Join Date: 2002
    Post Count: 518

    Hi Tools, what would be your asking price? I’m with Scott on this $5000 is a tempting offer, but if the house is really good and depending on location you may be able to double that price.

    C2

    Profile photo of hmackayhmackay
    Participant
    @hmackay
    Join Date: 2004
    Post Count: 197

    Hey the $5000 for your house for the 10 days sound great.

    Thinking spare bedrooms, maybe $100-$150 a day, for 10 days $1000 – $1500!!!!!!!!!

    Hmmm.

    hrm

Viewing 14 posts - 1 through 14 (of 14 total)

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