On this point I agree with you blogs, things are great , a friend of mine in Melbourne had 25 people through his property over the weekend and had six 32's – I think that's what you have in VIC – and is wading through offers. Most of my fellow investors don't do the seminar thing anymore, but all have at some stage, and are buying what they can. I am not in a position at the moment to increase my portfolio, but wouldn't hesitate if i could. Confidence is what most people lack, and sadly they are the ones that will miss out.
The trouble is with RE is that for every positive "expert"there is a negative one. you just have to be confident and go for it or take a back seat and wait for the sheep effect.
To be honest most spruikers are out to sell their own product be it high commission fees in real estate deals, high priced seminars or their latest book.
not quite the answer to your question, but my opinion anyways.
I have been 'out' of the market for the last year or so, trying to save up some money and hopefully wait for the market to cool off a little. I have been absolutley AMAZED at the levels of buyers still out there, just amazed!!!! I suppose money is CHEAP-hell anyone can now afford a $600k house, $45k from the government, a year or two of saving and bang there you go, a nice flash house for a little more than what you are paying in rent….
Maybe I should start looking out of this bracket and move up into the $700-$1m bracket……
Yes people including myself are eager to buy good cash flow investments i agree.
I don't believe the market is getting better but I do agree it is a buyers market for building and creating assets for the next ten year cycle.
Queensland is have some terrible press lately and my advise is stay away from investment companies and construction loans but there are some desperate sellers and cheap buys in Southport and Robina which would be my two best choices.
My gut feel tells me Sydney within 200 meters of a train station and shopping centre because of the lack in supply and construction because of the credit crisis in development funding.
Why Robina?? Would like to hear your reasoning for that particular suburb. Southport , I can understand to a certain degree, but Robina always leaves me a little stumped as to why people buy there. That is not to say it isn't worth a look, just would like to know what made you come to that conclusion..
wealthforlife I agree with you re on the trainline 9particularly inner area) is a good safety net in a downturn. I live 200m from an inner area station and clearance rates here are at 96% with 20% growth last 12 months to June "according to APM" I think 10% is more relalistic, still not backwards though like the Top End in other partys of Syd.