Properties By Postcode 2006
- Thread starter karmatik
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theasxgorilla
Problem solved... next bubble.
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Yes they did...no I don't (any longer).
doctorj
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If someone can tell me which issue it was in I should be able to forward an electronic copy to whoever wants it.
karmatik said:
There is some info here, which may be of use...
http://www.reiv.com.au/home/inside.asp?ID=141&nav1=652&nav2=141
Cheers
SevenFX
theasxgorilla
Problem solved... next bubble.
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SevenFX, great website.
Crash, bubble, burst! What a joke.
Apparently for the last 3 years Melbourne Metro had 0% growth, right???
But on a suburb by suburb basis Black Rock went +31%, Mornington went -4%, Beaumaris went +22%, Eltham went +11%, Endeavour Hills went +8%, Wantirna South went -8% and Lilydale/Croydon/Mooroolbark went +25%, 0% and +13%.
I just sold out of Black Rock for a 36% gain in 2 years.
Enjoy.
Crash, bubble, burst! What a joke.
Apparently for the last 3 years Melbourne Metro had 0% growth, right???
But on a suburb by suburb basis Black Rock went +31%, Mornington went -4%, Beaumaris went +22%, Eltham went +11%, Endeavour Hills went +8%, Wantirna South went -8% and Lilydale/Croydon/Mooroolbark went +25%, 0% and +13%.
I just sold out of Black Rock for a 36% gain in 2 years.
Enjoy.
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Median prices or the far more useful SAME HOUSE prices? There's a big differene between the two in a market where the quality of housing has changed considerably over a relatively short period.theasxgorilla said:
theasxgorilla
Problem solved... next bubble.
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There is no such thing as a SAME HOUSE price, except when you sell the same house two years later like I did. Well, actually, I reno'd it...so that doesn't really count since it's not the same, it's "improved".
Herein lies the beauty of real estate and is why reading about median house price stats (IMO) runs a distant second to actually figuring out how to make money.
Herein lies the beauty of real estate and is why reading about median house price stats (IMO) runs a distant second to actually figuring out how to make money.
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Same or very similar house. The point being that the median house price doesn't actually track the true change in capital value of a house as an investment when many of those houses have had capital injections (renovations) over that time period.theasxgorilla said:
It's like buying 1000 shares in XYZ for $1000. After 6 months you buy another 100 shares for $100. After another 6 months the 1100 shares are valued at $1100. Now, if the median investor does that then the median value of the investment went up 10% over 12 months. But you didn't make one cent in actual profit.
With the renovation boom in recent times there is presumably a similar effect happening with median house prices - some of the growth is real but some is nothing more than the effect of injecting new capital into the asset.
theasxgorilla
Problem solved... next bubble.
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Smurf1976 said:
Totally agree. The other part of that equation is that the median house price stats won't tell you what condition a place is in or what has been done to improve it. It also doesn't tell you about the setting within a particular neighbourhood of a suburb. Since people (in my experience) tend to buy houses using sense and emotion the feed-good-factor is less easily quantified and certainly not perceivable from realestate.com.au or house price stats.
