Select to expand quoteJupiter said..
I am very interested to know how much rent for a $1 million 3X1 house, or may be a 3X2 ?
Here in Sydney, that would probably be $500 a week. Which would give you a 2.6% return if you ignored all other costs and repairs. Outstanding isn't it ;-)
Select to expand quoteFormulaNova said..Jupiter said..
I am very interested to know how much rent for a $1 million 3X1 house, or may be a 3X2 ?
Here in Sydney, that would probably be $500 a week. Which would give you a 2.6% return if you ignored all other costs and repairs. Outstanding isn't it ;-)
That is a very low return, especially if you borrow from the banks. If the old guideline is anything to go by, you need at lease $1,200/week to be able to keep your mortgage healthy. Those days I needed to put in 30% deposit as well. The 10% deposit required now could potentially mean the buyers will have to spend a very big chuck of their incomes on mortgage maintenance.
That means you either need a very good income, or good inheritance, or both.
For the last 4 years, one of my search locations on re.com.au was Coombabah and surrounding areas, houses up to 750k.
2013 it gave aprrox 280 results at any time through the year
By November 2016 it had gradually crept down over the years to 230-ish
Today there are 330, the highest Ive ever seen and it's growing each week - about 100 extra properties in just a few months??
Some recently updated gov stats on population movement etc if anyone wants to fish through it.
itt.abs.gov.au:443/itt/r.jsp?databyregion&ref=CTA2
Select to expand quoteHaircut said..
For the last 4 years, one of my search locations on re.com.au was Coombabah and surrounding areas, houses up to 750k.
2013 it gave aprrox 280 results at any time through the year
By November 2016 it had gradually crept down over the years to 230-ish
Today there are 330, the highest Ive ever seen and it's growing each week - about 100 extra properties in just a few months??
for sale or sold?
Interesting enough that the NSW government is going to prime the housing market even further. With the $4 Billions windfall it gets in the budget, it planned to provide first-home buyers assistance. I am not sure if that is a very good idea. But than again, if you wanted to get into your first home, it is a damn good idea.
However, how much assistance can the government provide, and how would it figure in the greater scheme of things ? A $20,000 grant is merely a very tiny drop in a $1,000,000 ocean, I reckon.
Interesting enough that the NSW government is going to prime the housing market even further. With the $4 Billions windfall it gets in the budget, it planned to provide first-home buyers assistance. I am not sure if that is a very good idea. But than again, if you wanted to get into your first home, it is a damn good idea.
However, how much assistance can the government provide, and how would it figure in the greater scheme of things ? A $20,000 grant is merely a very tiny drop in a $1,000,000 ocean, I reckon.
$20k first home owners is almost negligible in Sydney. They might consider an interest fee, $200k loan instead or something.
I got the first home owners' grant back circa 2002. $7k it was, plus $3k I'd saved myself ($3k!!!). That meant a 5% deposit (enough circa 2002), plus purchase costs, enough for a $180k, 3 brm townhouse in a nice GC suburb.
Man, those were the days.
P.S. A kite boarder lives in it. Met you once, can't recall your name. If you've been in it a few years, and it's like an Oasis (hint), drop me a line 
. I owe you a dishwasher.
Those who bought houses years ago when the price was say 50-60 percent to what it is now are laughing all the way to the bank - if they sell and move to a cheaper city.
To me I feels it's the banks that are the real winners here - as always.
If interest rates go up,the banks will make a killing,and I'm not taking only financial.
Guess who owns the banks - the NWO. Order out of chaos could well be their underlying motivation in all of this artificial bubble.
Select to expand quotepetermac33 said..
Those who bought houses years ago when the price was say 50-60 percent to what it is now are laughing all the way to the bank - if they sell and move to a cheaper city.
To me I feels it's the banks that are the real winners here - as always.
If interest rates go up,the banks will make a killing,and I'm not taking only financial.
Guess who owns the banks - the NWO. Order out of chaos could well be their underlying motivation in all of this artificial bubble.
Why cant it be just plain old capitalism?
Select to expand quotepetermac33 said..
Those who bought houses years ago when the price was say 50-60 percent to what it is now are laughing all the way to the bank - if they sell and move to a cheaper city.
To me I feels it's the banks that are the real winners here - as always.
If interest rates go up,the banks will make a killing,and I'm not taking only financial.
Guess who owns the banks - the NWO. Order out of chaos could well be their underlying motivation in all of this artificial bubble.
Years ago? You mean just 4 years ago in Sydney... I remember you telling us all to sell our real estate and buy silver
What do the kids say? Lolz
What bubble? There is no housing price bubble in Sydney. I keep hearing people say that no-one can afford to live in Sydney, but they forgot one thing....all the houses keep selling, so SOMEONE can afford it.
I've said it before, and will say it again, you have 1 or 2 kids, they can afford to pay twice as much for a house with the help they get from you. You have 3 or 4 kids...they can rent or move west.
It's beyond gentrification, but it's not going to stop. It's the have's and have not's, and the divide will continue to get bigger, that's how corporate Australia is arranged.
Select to expand quoteHarrow said..
What bubble? There is no housing price bubble in Sydney. I keep hearing people say that no-one can afford to live in Sydney, but they forgot one thing....all the houses keep selling, so SOMEONE can afford it.
I've said it before, and will say it again, you have 1 or 2 kids, they can afford to pay twice as much for a house with the help they get from you. You have 3 or 4 kids...they can rent or move west.
It's beyond gentrification, but it's not going to stop. It's the have's and have not's, and the divide will continue to get bigger, that's how corporate Australia is arranged.
wealthy Chinese investors can afford it ! they are not suppose to buy established houses ....but they do .. not only buy the property ,but leave it vacant !! it goes into a land bank . ............. comes out of the rental market ! and pushes prices up !
Select to expand quoteeppo said..Haircut said..
For the last 4 years, one of my search locations on re.com.au was Coombabah and surrounding areas, houses up to 750k.
2013 it gave aprrox 280 results at any time through the year
By November 2016 it had gradually crept down over the years to 230-ish
Today there are 330, the highest Ive ever seen and it's growing each week - about 100 extra properties in just a few months??
for sale or sold?
For sale
Select to expand quoteHaircut said..eppo said..Haircut said..
For the last 4 years, one of my search locations on re.com.au was Coombabah and surrounding areas, houses up to 750k.
2013 it gave aprrox 280 results at any time through the year
By November 2016 it had gradually crept down over the years to 230-ish
Today there are 330, the highest Ive ever seen and it's growing each week - about 100 extra properties in just a few months??
for sale or sold?
For sale
okay ta, one month doesn't make a trend. Let's see.
It's been a few months, not just the one month, but it sounds like Sydney folk are buying here in a bit of a frenzy so maybe vendors are onto it and making the most of the opportunity
Local paper says it's levelling off, but who knows. Still like to hear peoples thoughts about post Commonwealth games
Select to expand quoteHaircut said..
It's been a few months, not just the one month, but it sounds like Sydney folk are buying here in a bit of a frenzy so maybe vendors are onto it and making the most of the opportunity
Local paper says it's levelling off, but who knows. Still like to hear peoples thoughts about post Commonwealth games
I interpreted your statement a bit differently. When you said there were 330 results, I thought you meant there were 330 properties on the market, hence the market was slowing as everyone wants to sell but no one wants to buy. Did you mean actual sales?
The thought that it might be Sydney people buying up might have some merit. Its like a lifestyle to buy investment properties as everyone thinks there is some undiscovered location that will make them a mint.
One of my colleagues that invests in property was buying places in Brisbane, thinking it was/is the next big thing. In the media there has been talk about apartment oversupply in Brisbane, so it may not be the goldmine he thinks it is. This probably extends to lots of places around the country that are cheaper than Sydney, and someone is hoping for a windfall gain.
Select to expand quoteFormulaNova said..
One of my colleagues that invests in property was buying places in Brisbane, thinking it was/is the next big thing. In the media there has been talk about apartment oversupply in Brisbane, so it may not be the goldmine he thinks it is. This probably extends to lots of places around the country that are cheaper than Sydney, and someone is hoping for a windfall gain.
An article this morning on the ABC shows Sydney's property market is overwhelmingly positive at over 95% gains. Brisbane is not doing so well as over 9% of properties were sold at a loss. Units/apartments are the main loss making component. Houses are still OK.
The person you mentioned probably is doing it the Warren Buffet style, buying in when prices are depressed. That speaks for a lot of confidence, possibly luck as well. Personally, I believe there is an over supply of units/apartments the nation over. So if you are bucking the trend and buy into them, then it is a gamble that may or may not pay off.
Sorry for the confusion - what I was trying to say is that there are now 330 properties for sale (335 as of today). Yeah it appears there is a lot more stock on the market. Some stuff seems to be selling but there's a lot of new stuff coming on.
They are still asking higher prices, but now I'm starting to spot one here and there that surely must have lost money.
I inspected this one.
house.speakingsame.com/house_img.php?sta=qld&id=1806577&addr=4+Bunya+Court®ion=Helensvale&img=1
After Reno pics
www.realestate.com.au/sold/property-house-qld-helensvale-125007206
Bought for $462 late 2016 and given a full renovation to everything house, yard, fences, pool etc, then back on market at offers over 600k, and sold for 525?
If I was 20 years older I'd be selling out in old Sydney town and moving back to the farm. It would be nice to have a ton of cash in the bank.
Who knows what it will be like in 2137. My bet is the State will have completely run out of cash as income tax revenues have completely collapsed. As a result there will be massive taxes on superannuation and property.
Select to expand quoteMobydisc said..
If I was 20 years older I'd be selling out in old Sydney town and moving back to the farm. It would be nice to have a ton of cash in the bank.
Who knows what it will be like in 2137. My bet is the State will have completely run out of cash as income tax revenues have completely collapsed. As a result there will be massive taxes on superannuation and property.
not a bad idea ...your farm most likely will be waterfront by then ...
In my Coombabah search, we've hit 340 properties for sale at 12pm today! Growing by 10 a week
This was another recent one I watched and think must have lost money
sqmresearch.com.au/soldpricesearch.php?6-Tambo-Court/Helensvale/QLD/4212
Select to expand quoteSandS said..
wealthy Chinese investors can afford it ! they are not suppose to buy established houses ....but they do .. not only buy the property ,but leave it vacant !! it goes into a land bank . ............. comes out of the rental market ! and pushes prices up !
Yeah, I just don't get that. My in-laws sold their house (double brick 4 bedroom with a pool) to a Chinese investor about 10 years ago for well over a million. The buyer left it sitting empty for 18 months, then demolished it. Why not rent it out? Would have been hundreds and week in rent, and no problem about rental damage, because they just bulldozed it anyway. Has it got something to do with them hiding a property they are not supposed to own?
Select to expand quoteHarrow said..SandS said..
wealthy Chinese investors can afford it ! they are not suppose to buy established houses ....but they do .. not only buy the property ,but leave it vacant !! it goes into a land bank . ............. comes out of the rental market ! and pushes prices up !
Yeah, I just don't get that. My in-laws sold their house (double brick 4 bedroom with a pool) to a Chinese investor about 10 years ago for well over a million. The buyer left it sitting empty for 18 months, then demolished it. Why not rent it out? Would have been hundreds and week in rent, and no problem about rental damage, because they just bulldozed it anyway. Has it got something to do with them hiding a property they are not supposed to own?
There was (is?) a loophole where a foreigner can buy a property and declare it beyond economic repair, and then build a new house. This way they are buying 'new' property, and don't run foul of the rules.
Potentially that investor can then sell it to other Chinese investors as it is then a new house.
As to why they left it empty the whole time, I can only speculate that this might make it difficult to argue its a wreck.
Select to expand quoteFormulaNova said..
There was (is?) a loophole where a foreigner can buy a property and declare it beyond economic repair, and then build a new house. This way they are buying 'new' property, and don't run foul of the rules.
Potentially that investor can then sell it to other Chinese investors as it is then a new house.
As to why they left it empty the whole time, I can only speculate that this might make it difficult to argue its a wreck.
Hmmm, the property sure looked a wreck after the garden was left untouched for 18 months. Neighbours were very unhappy, and the pool become a breeding ground for mosquitos.
Select to expand quotepetermac33 said.. Guess who owns the banks - the NWO.
How long until they become just the World Order?
Surely part of the housing problem is immigration?
"Australians born of Australian parents will soon be a minority. The census shows Australia reached a "tipping point" in 2016 where only slightly more than half its residents had two Australian-born parents.
The long-term low of 50.7 per cent is a step down from 54 per cent in 2011 and 57 per cent in 2006.
More than a quarter of Australia's population in 2016 was born overseas (26.3 per cent, up from 24.6 per cent)...
www.smh.com.au/business/the-economy/census-2016-milestone-passed-as-australian-becomes-more-asian-than-european-20170627-gwz3ow.html
Also from the census:
COUNTRY OF BIRTH
Australia has a higher proportion of overseas-born people (26.3%)
than the United Kingdom (13%),
United States (14%),
Canada (22%)
and New Zealand (23.3%).
COUNTRY OF BIRTH
Nearly half of Australians were either born overseas, or one or both parents were born overseas.
There's some other statistic I will be sligthly wrong on, but it's approximately:
There is an Australian born every 1 minute 40, and an immigrant every 2 minutes 20.
_____
So we're still waiting for the tide in Sydney to reach the Gold Coast? Last time, circa 2002, it hit it suburb-by-suburb. Like it would hit Southport, then Runaway Bay, then Paradise Point, and then fill in the gaps of Labrador, Coombabah and Hollywell.
Select to expand quoteevlPanda said..petermac33 said.. Guess who owns the banks - the NWO.
How long until they become just the World Order?
They will become just like KFC. No, its not Kentucky Fried chicken, its just 'KFC'.
We are the NWO and it can stand for anything you want.
Select to expand quoteHarrow said..
to a Chinese investor about 10 years ago for well over a million. The buyer left it sitting empty for 18 months, then demolished it. Why not rent it out? Would have been hundreds and week in rent, and no problem about rental damage, because they just bulldozed it anyway. Has it got something to do with them hiding a property they are not supposed to own?
May be the new owner is unsure which party is going to be voted in or out ? 1 year to 18 months is about right for a change in government and/or leader ?
