House prices
Ha ha I’ve seen those little pieces of crappy sand and weeds first hand..…it would be really funny if it wasn’t so scary.
udo wrote:With a generous allotment size starting from 140m2 ....
https://www.sunshinecoverealty.com/land/lancelin-stage-iii-now-released-...
Why not? You can go up 3 stories.
Didn’t read it properly, I thought it was W.A. They have silly real estate as well.
donweather wrote:Let’s just see how how the S&P can go in the first 6 mths of 2024. This of course all assumes no major geopolitical storms.
Jan 8th is the top. Market drops 15% to March 18/21 or March 10 - one of those anyway. First Fed rate cut. Market dithers for a bit then explodes as its election year and no matter who "wins" the spigots will get turned on mightily; QT ends and we're off....
or not .....
I'll take both sides of that bet please.
So a straddle or a strangle then?
Prepare for the boom https://au.yahoo.com/finance/news/cbas-major-rba-interest-rate-predictio...
Boom would be my prediction.
We're famous! We've made it to the BBC!
Jack and Alana Offloading - Was up for Rent @ 1K per Week
https://www.realestate.com.au/property-house-nsw-farrants+hill-143255116
Udo, cheap for 10 acres you reckon?
I think so a Nth facing Home ...12 k to beach ..Last Sold for 1.430 in May 2021
goofyfoot wrote:Udo, cheap for 10 acres you reckon?
I saw that and thought the same. Tempting. Could just about get that for our slice of suburbia.
Wonder why? I would have thought just land alone would be up near that price.
I’d love a big tree’d property like that.
Def no profit in the Sale - 60K ish Stamp duty to Buy it and Drop around $40K to the Agent to Sell it...An offer of 1.5 leaves little..Let alone if you serviced a Mortgage on it or some C.G.T. if you had rented it out at some Stage...
https://www.realestate.com.au/sold/in-farrants+hill,+nsw+2484/list-1
Nightmare to maintain, hard to get to the beach, lots of hillbilly alcoholic neighbours, no useable/arable land, highly bushfire prone etc etc.
Probably only suit a certain type of person.
I reckon FR just knocked another 1K off the price ;-)
Haha, you should be the auctioneer fr76
A friend sold his property at Ewingsdale just out from Byron , he used a agent ( sorry don’t have their name ) that charged $1800 . For this they took photos and advertised on website plus built and erected a huge sign out the front of property. Fuck the real estate % , he sold within a month .
Is that Agent still Breathing .
So a Mob like this :
https://www.forsalebyowner.com.au/packages-residential-sales/
I think we are done here.
https://www.theguardian.com/commentisfree/2024/jan/18/australia-housing-...
Done in more ways than one.
freeride76 wrote:I think we are done here.
https://www.theguardian.com/commentisfree/2024/jan/18/australia-housing-...
Take a look at the average home loan size. Even just across the entire Australia it's sitting at $600k. This is an average so there's loans much higher than this, particularly in NSW/Vic. But do the math on a 6% interest rate for $600k and ask yourself where these people are getting this amount of disposable income from and is it (repayments) sustainable. Won't take much at all (in fact I think just some more time) before the bubble pops. Gov already reducing immigration levels so demand will also drop.
Just take a look at the markets over in the US this week. Went from interest rate cuts to now no cuts and possibly back to hiking. RBA will only have to follow if US rises.
Take a look at the graph of wage growth versus repayments growth. It's way out of kilter so something has to give sooner rather than later.
I also think unemployment will rise significantly this year. I'm already seeing a slowing in new projects in my industry (other than renewable energy and water supply). So double income households may drop to single income or reduced income (part time for example) and this will have a big effect on people's ability to repay their mortgage IMO.
Noted Don.
I still see so much pent up demand, and insufficient supply.
Hence, upwards pressure on prices.
Don, if your predictions about unemployment are true the rates will drop, and government incentives/subsidies will increase. We can't be compared to the US where they regularly let things crash. And the federal elections are coming soon too, more giveaways to be shared.
Here are some good resources on these topics. There's a lot of good info in here.
https://www.rba.gov.au/education/resources/snapshots/economy-indicators-...
https://www.rba.gov.au/education/resources/snapshots/economy-composition...
https://www.abs.gov.au/statistics/economy/national-accounts/australian-n...
https://www.abs.gov.au/articles/11-things-happened-australian-economy-du...
freeride76 wrote:Noted Don.
I still see so much pent up demand, and insufficient supply.
Hence, upwards pressure on prices.
Agree Steve but my point is demand will drop sooner rather than later.
flollo wrote:Don, if your predictions about unemployment are true the rates will drop, and government incentives/subsidies will increase. We can't be compared to the US where they regularly let things crash. And the federal elections are coming soon too, more giveaways to be shared.
Agreed however RBA is led to some extent by global developments particularly the US fed. RBA/Gov don't want an Aussie peso.
The problem is land. The govt doesn’t need to handout money, nor does it need to own a percentage of your home. It does however need to release unused farmland for blocks. If the blocks can be sewered 600 sq metres, if they can’t, 1000 sq metres ( 1/4 acre) minimum for an onsite sewer system that uses 400 sq metres to function.
It only costs $55000 to fully service a block with road power and water and if they the govt buy in bulk, a block will only cost them $50k. So for around $105000 they can have blocks to sell for 150 to 200 k to the average Aussie who has lived in that district for 5 years or more and is working. The govt can secure their loan for no cost and if they default their mortgage they lose their home to someone else at the same price.
They then build a basic house for $300 k in today’s rip off market and they have a house and land for 500k. The govt also makes 40 - 90 k per block to plough back into housing for elderly and disabled people…not for bludgers.
When you buy large blocks of over 100 acres in many areas it can work out as little as 20 k per block ( 80k per acre x 100) buy cost plus services and excavation etc.
These new satellite suburbs could be all around Australia and serviced by the local surrounding ag industries etc. which would also grow to the demand.
After purchasing by 5 year plus priority local residents with no other home , the homes would return to the market value as you would expect.
This idea would add tens of thousands of homes to the market quickly and give priority to people who have lived and worked there for at least 5 years stopping opportunists from moving into their district and taking their stock of property.
This is the only way massive housing can progress without putting the bill on the taxpayers which is not fair when everyone can buy their own place for a reasonable price…..Public housing for elderly could be built for near cost by using tafe apprentices in the field instead of a classroom…they'll learn a lot more there including how to work well.
Anyway, something like that eh.
donweather wrote:freeride76 wrote:Noted Don.
I still see so much pent up demand, and insufficient supply.
Hence, upwards pressure on prices.
Agree Steve but my point is demand will drop sooner rather than later.
I see the rate of increase slowing, but prices increasing nonetheless.
It's so easy for governments to play with rate of increase, and prices staying flat is politically untenable.
https://m.
&pp=ygUbbWljaGFlbCB3ZXN0IG1lZGlhIHByb3BlcnR5 andy-mac wrote:https://m.youtube.com/watch?v=EuL4_XkD-4o&pp=ygUbbWljaGFlbCB3ZXN0IG1lZGl...
We’re already stuffed in the beginning of this video/essay. Kohler talks about his parents buying land outside Melbourne and then working day and night, weekends, building it themselves while living in the garage. Very illegal to do these days and it can result in huge fines if caught. Bureaucracy is out of control and people are scared and reluctant to do anything themselves these days. I did something like Kohler’s parents but fuck me what a process that was. There is a very small minority of people who can pull it off.
My latest interaction with the council was a shocker. I started building a small shed in the backyard - 3m x 1.5m. I used the frame from an old shed that I managed to repurpose and cladded it with blue board. As I was building it my horrible neighbour reported to the council that I’m building an illegal cabin. Compliance officer came to my house to check it out. The shed didn’t need the DA because it was smaller than the threshold size. The officer confirmed that. BUT (there’s always a but) as this is a sloping block and I installed posts to level it, one corner was just above the 2.5m threshold height (shed inside is ~ 2,100mm). He said he will check this but didn’t seem to be concerned.
Anyway, never heard from him again and I finished the shed. Then, 4 months later there’s a letter in the mailbox saying that he will deal with this problem ‘informally’ by me applying for a DA through a proper channel. And to do that I had to:
1) use the prescribed tool - there’s a fee
2) apply for planning approval - there’s a fee
3) apply for construction approval - there’s a fee
4) be issued a compliance certificate - there’s a fee
So I do the rough numbers and estimate that fees themselves far exceed the cost of the shed. I did it as a DIY job and it only cost me a few hundred. I called the guy and complain about everything, fees etc. His response - ‘yeah mate, everything’s expensive these days’. And then he suggests to build an even bigger shed. Since I need to apply for a DA mind as well make it worth my time.
So fuck it, I roughly double the size of the shed and submit a DA. I drafted it myself in pdfs but now the planning officer has come back asking for all these additional details even though I provided some on my drawings. You can see that she wants a proper set of drawings while mine were quick markups. But under no circumstances will I spend four figures on some draftsman or an engineer. Fuck that.
And then Christmas etc came and I procrastinated on this issue but I need to deal with it soon. I will keep sending them slightly improved drawings that I’ll do myself until they give in. Otherwise I will leave it as status quo.
This is the situation we are in right now. There is no way the situation in housing will improve if this is the process. Big businesses have resources on the books; lawyers, engineers etc. and they can push things quickly. But they will never pass the savings to the customer. They will squeeze the bottom line as much as possible; if they can make a $1m product for $700k and then save another $50k in the supply chain making it $650k, they will still sell the product for $1m. I worked in corporate for long enough to know the game.
The lesson is; small, regular people get screwed which ever way they try to do things. And politicians are completely disconnected from day to day pain points of most people.
"And politicians are completely disconnected from day to day pain points of most people. "
Nailed it.
We have plenty of available land around here(Noosaville/Tewantin) owned by State Government that's been sitting idle and vacant or delapidated (old Tafe) for decades. Seems that there is more interest in clearing bushland for aged care homes than there is for genuine multi dwelling housing (buts there's been plenty of private landholdings that had one house sold and redeveloped into dozens of very pricey townhouses that no one wants).
Good luck Flollo, we've just done similar.
One thing that has happened in Vic is they relaxed rules for 'granny flats' due to overpopulation, and I expect there's all sorts of dodgy back yard constructions popping up so I wonder if we are going to see some horror non BCA compliant structures go up and govco will just go 'rules is rules' and let them fly.
Jeezus Follo, that's crazy and so demotivating.
Bricks'n'Meth Housing Crisis
[ FOR SALE ] $200,000 Lego Meth Garage...stop drooling!
https://www.9news.com.au/national/melbourne-news-police-seize-enormous-l...
https://es-la.facebook.com/LEGODUPLO/videos/secrets-of-the-lego-duplo-fa...
https://truenorthbricks.com/2020/09/29/doctors-eat-lego-bricks/
Did a house extension pre covid, some years before when things were cheaper, & if I recall the council and planning costs were about 22% of the build.
I guess if you dig your home underground and keep quiet about it, you might escape all this lol
velocityjohnno wrote:Good luck Flollo, we've just done similar.
One thing that has happened in Vic is they relaxed rules for 'granny flats' due to overpopulation, and I expect there's all sorts of dodgy back yard constructions popping up so I wonder if we are going to see some horror non BCA compliant structures go up and govco will just go 'rules is rules' and let them fly.
The "Dodgy Back Yarders" have obviously been well trained by their bigger counterparts.
https://www.theguardian.com/australia-news/2024/jan/17/sydney-apartment-...
You have to wonder if these developers use the Australian Standards, NCC and BCA as backup toilet paper for their site toilets.
One would have to question who is controlling this part of the industry at the moment right from substandard building materials to signing off on structural and building code items. Seems to be an enormous black hole to me.
Oh yeah, I hear stories like this every week. Yesterdays was a wall the subby plasterers had done that was out 30mm up a height of 3m. If you were conscientious you'd fix it, the apprentices raise the matter, because the build is so many different subbies you can't just go back and stop work and rip it off and pack it properly and replaster. With future crews arriving on a time schedule it gets left and let the project managers and architects paper it over.
There are good youtube channels on this stuff. Going to be some real shite fixer-uppers in the 2040s...
See: like the wall in the 2nd bit of footage on this insta link
my favourite is the effort near the top of the staircase, wtf
To address velocityjohnno's Straight Level trick...
First thought it was a Chinese Knock off level...one drop on the floor & bubble trouble.
27mm over 2400mm (That Level is best quality!) Even if ya knock it about!
tbb's Toilet floor is 15mm out over 1500mm Tiles are a joke...but how?
1st issue is honest mistakes.
Tells apprentice with yer right hand on nearest side of base template like this...now flick the line. Good!
When facing each other...each did the right thing...that's the problem...well durr! OMG!
Next
1970-90's swamp reclamations bulldozed Tea Trees as fill over the Lagoons...Homes subside lopsided
Tips / Floodplain Fill was next then infill pockets were cut & filled each with same subsidence issues.
As home is built each weighted progression weakens the newfound substrate...
Concrete Slabs often crack at elbow or where filled float line starts (House will lean)
Cement Tile Roof weight further sinks the house > resulting in weak points that bow or belly out.
Rain soaked fresh cut denuded Steep Embankments swell to shunt Homes down slopes
Poor back filled retaining walls will drop floor levels & so on...
3rd issue was always the Building Boom Cycle...
Green Forestry Timber being cut too young & sold too fast without drying / curing time!
Framing / Trusses / Sleepers all still growing whist building & thru "3 month Settlement phase".
Stick Framers can cut Studs to accommodate or correct uneven Slab to counter weight subsidence!
eg: Lower Cracked Slab Studs can be 20mm taller then levelling back to solid at height wall studs
Kit Frames will only add weight to lopsided slab to progress lop sided roof weighted subsidence!
Might sound crazy to alter yer build but what other choice than to compensate if given the chance!
Footings most resemble Egg Cartons where some pockets take more weight than others.
Girder (Main-Stronger) Truss has a 15mm Camber (Arc) to carry (Suspend) the Roof Weight.
Subsidence & Growing Timber can distort 20-30mm House Frame over 3 month settling period.
Chippies tricks...
Chippies progress thru the build so prioritize driest straightest Studs for Doors / Wet Areas.
Obviously because Doors need to close without ongoing hassle & Cabinets / tiles need Straight lines.
Therefore any remaining Bed / Party Walls or Externals are less quality timber or bowed to 30mm.
#1swellnet exclusive ultra rare definitive article on [ Packing out House Frames ]
Right...this is where Plasterer tbb enters one of 1,000's of homes thru 25 years on the tools.
This silent occupation involves more hours than many trades but is unpaid on contract basis.
First we (Mostly tbb) runs an eye over Truss Lines & Frame's Externals or Coffered Ceilings.
What we're scanning for is variations of Trusses / Studs : 30mm > 20mm > Less so 10mm.
More will avail as more sheets go on or eyeballed from stools / scaffolding.
Variations of 5-10mm can be 'Humoured' (Rolled or evened out)
More detailed Coffers / Rails / Panels / Cornice / Skirting require more exacting pre-pack levelling.
0-5mm variance is then floated by filling / trowelling...can absorb more time than packing.
Depending on Shock or more detail > some houses require 100x packing +100x Plastered Fill/floats.
Lose 3hrs to pack out cornice lines or lose a day for setting lines...(More, if house is already Sheeted!)
Goldie builders often requested tbb for this exacting finish...
Pioneer Goldie, skill is rare so is exploited while least trusted blowins showboat creamy butter boxes!
Skilled tradies gotta suck it up & work for slave wages forgoing a run of butter boxes...bummer!
Butter boxes are Project homes of least External Angles...a strait run at the creamy open metre rates.
More External Angles, then pegged at 25 year old 1980's Slave Rates chew thru yer plaster & time.
Blowin kook with basic skills is not trusted on VIP homes...(Kook grins & waves from gravy train!) FFS!
Ceiling Lines...(Packing)
If Girder Truss holds high then only central & near side trusses need packing down.
If Girder Truss shits itself then all next trusses need packing half way round room...(Major set back)
Low riding Girder often requires further 10mm Up/Down set time Rolling of Cornice + major floating!
So the cornice rolls up 10mm @ Pressing Girder then Rolled Down 10mm to 1 metre either side.
Requires many pins like Plastered Limb Surgery but then sets with a straight line trick off the eye!
Needs expert skill & perfect mix for bonding...no room for error...all is planned out ahead of time!
This mandates one to flip surf 5.4m lengths of buttered Cornice with many pin points as cement sets!
Switchfoot surfing planks moulding an overhead lip line as time immortal signature move!
The idea being to 'surf a set time' wobbly line into a forced Straight clean line to score a perfect [10].
Like surfing...ya get one go at WOTD (Big Lounge/Kitchen Combo) muck it up then you're the wipeout!
Externals are similar...Inward bowed stud relates to less weighted high sitting truss.
Also packed 'out' in centre to plumb as high truss ceiling centre is packed down level. (Similar easy fix)
All without the need to associate side walls nor affecting Cornice / Skirting lines.
Only (Ultra rare) Wall Panels or Rails involve central mid joint packing!
Typically 'shit it's guts belly out External' is bog standard time penalty that requires major fix...
All chippies know this more than Plasterers so are very quick to defend their reasons for said gift!
We're now talking about about shit-fuckery Triangulation Effect.
Folks eyeball externals as in a Gallery effect > Like all must co-align or house is deemed dodgy!
Bellied External requires either or usually both top / Bottom External packing!
Obviously this will automatically 'kick out' any former machined Skirting & Cornice plates.
Therefore needs further graduation combos from 25mm > 3mm packing along Top/Bottom L/R Plates!
Each bellied External requires 4x 4 lots of graded packing requiring 6 equally formed alignments!
2x Wall Plumbs +2x L/R Cornice wall lines +2x L/R Skirting Lines (It's a fucking Major kick in the guts!)
Only then can ya fix the External with 2 coat'n'scrape + Top coat/sand + dag/sweep floor mess for $3.
Our comeback line was it costs $3 for the Plaster...all the arduous shitfuck set back labour was for free.
Still that's all they ever bitch about...'Like if ya stand on one leg & lean left & squint it still looks wonky!'
Right! Like just said, tbb is yer fuckin' slave dog & ya want best show on site for now 3 days free labour!
Multiply that pissed off effect by 10/20/30/40x or more within a house! Real Steam comes from ears!
95% simply fix all Externals as are with bellies in all of them...not my problem...be gone next week! Who?
Pause! Sounds exhausting enough...with just the Skeleton Framework...
More often than not tbb was sought after as a Setter / Cornicehand.
Meaning all this said packing requires Punching of Clouts / Screws > Prying off / Refastening Sheets.
Forceful cutting of squares to chisel pry & drive wedges (Holding strong!) to pack in desired position!
Once the packing was in place then mark [x] for next Chippie's Skirting fastening points.
Coz should Chippie miss the strike plate packing then the floating line is pulled in exposing the flaw!
Packing points allowed for equal fastening points as Trades required...(400-600mm)
More heavier or ornate delicate Skirting install requires more solid 2x line of packing for extra support.
Where Square set was required (Coffered Ceilings) Requires Roof Void Maps for hidden rear Packing!
Like Code : [ 0 0 3 6 10 13 16 20 16 12 10 6 3 0 ] Rewards a Straight line to set. (No floating)
This may require a below Scout to shout instructional graded packing...too much tbb try the cardboard.
Trick is to loosely tack Ceiling Sheet edge then shunt Top Wall sheet to level it off...
Then climb into ceiling & pack it to snugly wedge against wall sheet line until setting bonds them.
So that's right...no fixing of ceiling sheet edge...but packed firmly to fixed wall mounted sheet!
As more Coffered Ceilings became norm...Squared back cut Sheet hanging Folds became a quick fix.
Basically cut the sheet 10mm shorter to allow for right angle fold...then force tightly together.
Wall / Ceiling sheet as one fixed finished product...no packing or setting required.
Still a pain in the arse but saved goin' broke wasting hours fixing up #1 bastardized bowed framing!
Works fine in a modular display setting but any house movement zip tears the sheets apart! Bummer!
Recall the boss backpedalling & retro fitting new custom metal / plastic internal setting angles!
Which only fit at 2x designed angles...so still required packing or time / costly plaster floating!
Bucket of 20-40mm Packing Squares will vary ...
13mm+10mm Gyprock / 6mm Fibro / 5mm Ply / 4mm Masonite/Fibro / 3mm Cardboard +Pine Wedges
tbb needed that many that he'd hit up chippies to cut more wedges...Yeah! That many were needed!
The idea being to mix'n'match pack combos to level out Ceiling line or Plum / align all External corners.
Mostly needed where Chippie's coffered Ceilings run wildly astray but require parallel eye detail finish.
tbb thought of it as a duty to salute home owners...
95-99% of Tradies say fuck that shit off...not my job to fix other's mistakes-carry on with the shit-show!
However!
Not purely cosmetic as many Home utilities & features need to align to a level finish to function.
These maybe additional from builder or later owner installs or even Appliances all need levelling.
Eg: Because of Locked External Price > Builders exploited set finishes for Wardrobe Panel Sliders
Meaning each / every angle required Flush finish...recall many being asked to backtrack to remedy!
Can do that properly from the start like tbb or muckrake over freshly laid carpet...good luck mate!
Tracks-Blinds-Lighting / Wall mounted - Air Cons / Dryers / TV's / Converters list goes on...
Simple rule being every install after hand-over still requires levelling to function...Yes/No!
Display Homes with multi Tiered Ceilings need a day + to pack frame to achieve parallel designer lines.
Just one of line running out catches the eye of all who enter...gotta be spot on or House is worth shit!
We're talking 'bout them Grand Entries of Tiered Coffered Ceilings with Fancy / Step Cornice.
Any 10mm variation noticed upon displayed entry > instantly brands $Million home as dodgy.
tbb was recently asked to view a display home & spotted a Wonky Plaster finish...not worth $2...see ya!
Can instantly spot underlying load bearing foundation fault in 2 seconds...dream is shattered!
It instantly brands the House a Lemon...not worth a piece of Shit & all associated tradies as Dodgy!
Gotta bleed the owners dream home! 95% of tradies treat your dream home as their gravy train.
Nothing special! They are not true blue & have no right to piss away yer Aussie dream.
tbb that's epic - will share with young one.
One job is on a bit of reclaimed soil I think too...
Not sure if these have been posted...
https://www.afr.com/property/residential/house-prices-on-the-coast-have-...
"House prices in popular coastal towns such as Byron Bay have slumped by as much as $614,000, as higher interest rates make it tougher for sellers to hold on to their holiday homes and for hopeful buyers to qualify for a loan."
----------
This bloke's a bit of a laugh/tool too, scary how shit some new builds are...
https://www.youtube.com/@Siteinspections/videos
Yeah Byron has just gone from insane to friggin stupid.
Barely took the cream off the Covid increase.
Sprout wrote:Not sure if these have been posted...
https://www.afr.com/property/residential/house-prices-on-the-coast-have-...
"House prices in popular coastal towns such as Byron Bay have slumped by as much as $614,000, as higher interest rates make it tougher for sellers to hold on to their holiday homes and for hopeful buyers to qualify for a loan."
----------
This bloke's a bit of a laugh/tool too, scary how shit some new builds are...
https://www.youtube.com/@Siteinspections/videos
Haha. Ive lived in 5 1/2 of those locations. And i left because they were bound for this list ;)
Everyone that has been around awhile probably has their should of could of realestate story.
18 years ago had 3 houses sold them to build our dream home living in now, in hindsight probs would of been better off keeping them.
Guy that worked for me was buying a investment property years ago, 1 was $100k in Evans Head and 1 $200K in Byron, his Mrs wanted the Byron, he bought the Evans Head and still has it, probably down $1M lol.
Forgot the 4th, got trashed was rented out about 7 years ago, need about $30k spent on it, rents were low and hard to find a good tenant, sold it made $80K, now its worth double what sold for ;)
Forgot the block of land, Bought for $40K just before 2 booms ago, sold it few months later for $80K, if waited another 3 months would of got $120K.
ashsam wrote:Everyone that has been around awhile probably has their should of could of realestate story.
18 years ago had 3 houses sold them to build our dream home living in now, in hindsight probs would of been better off keeping them.
Guy that worked for me was buying a investment property years ago, 1 was $100k in Evans Head and 1 $200K in Byron, his Mrs wanted the Byron, he bought the Evans Head and still has it, probably down $1M lol.Forgot the 4th, got trashed was rented out about 7 years ago, need about $30k spent on it, rents were low and hard to find a good tenant, sold it made $80K, now its worth double what sold for ;)
Forgot the block of land, Bought for $40K just before 2 booms ago, sold it few months later for $80K, if waited another 3 months would of got $120K.
No one ever mentions their losses.
Neighbours here lost over 1million in 2006/7 and another one in 2016. They'd all break even now.
Friends bought a townhouse before Covid for $500k, couldnt find anyone to rent it (go figure !!) so sold it during covid for 850k, person who bought it sold it 6 months later for 800k.
Sure just a small number of anectdotes - we also have a neighbour who bought for 750k in 2006, sold for 1.3m in 2018 place would probably sell for 2m now but so what; new owner has spent a mint repairing it. And another who paid 1.4m and 12 months later received 2m allegedly.
It aint what you sell it for; its what youse pays for it that makes you the big bucks.
When M&D moved to Oz about '79 they took what they had made from doing up houses and put in a Sunny Coast apartment while they waited for dad to find work in his field. Unfortunately they rented it to heroin dealers. Then the early 80's recession hit, then Hawke floated the dollar, losing half it's relative value to where they came from. They sold at a loss - knocked them out of property for a while. Rough start. Dad couldn't have gone back even if he wanted to. They ended up restarting with a 2x1 and then were extending and improving it for years.
southernraw wrote:Haha. Ive lived in 5 1/2 of those locations. And i left because they were bound for this list ;)
How do you live in half a location? Was the property on a suburb boundary?
monkeyboy wrote:ashsam wrote:Everyone that has been around awhile probably has their should of could of realestate story.
18 years ago had 3 houses sold them to build our dream home living in now, in hindsight probs would of been better off keeping them.
Guy that worked for me was buying a investment property years ago, 1 was $100k in Evans Head and 1 $200K in Byron, his Mrs wanted the Byron, he bought the Evans Head and still has it, probably down $1M lol.Forgot the 4th, got trashed was rented out about 7 years ago, need about $30k spent on it, rents were low and hard to find a good tenant, sold it made $80K, now its worth double what sold for ;)
Forgot the block of land, Bought for $40K just before 2 booms ago, sold it few months later for $80K, if waited another 3 months would of got $120K.
No one ever mentions their losses.
Neighbours here lost over 1million in 2006/7 and another one in 2016. They'd all break even now.
Friends bought a townhouse before Covid for $500k, couldnt find anyone to rent it (go figure !!) so sold it during covid for 850k, person who bought it sold it 6 months later for 800k.Sure just a small number of anectdotes - we also have a neighbour who bought for 750k in 2006, sold for 1.3m in 2018 place would probably sell for 2m now but so what; new owner has spent a mint repairing it. And another who paid 1.4m and 12 months later received 2m allegedly.
It aint what you sell it for; its what youse pays for it that makes you the big bucks.
no kidding
House prices - going to go up , down or sideways ?
Opinions and anecdotal stories if you could.
Cheers