Yes, but what is your yield? It's all well & good buying at the top but if it's not paying it's way then....?
Current yield, excluding any change in capital value is -0.77%. This includes, rent, maintenance and all operating fees and council rates.
Based on my current rate of savings, yield will be positive within 11 months.
Yields are based on total purchase price with stamp duty and not original capital invested.
Where is Robots?
For all these answers and more, tune in to Bulls vs Bears, this month (and next etc), exclusive to ASF.
Sunshine, lollipops and slightly smaller bubbles
MW
So would you be willing to name the suburb or postcode so we can keep tabs on the price increase over the next 12 months??
Knock yourself out: Noble Park (3174)
UNDERDOGS Polly Porter and Waz Jones have won The Block because they were the only contestants to sell their house at auction.
The much-hyped grand finale hosted by Scott Cam proved an utter fizzer with three of the four Richmond houses falling well-short of what had been considered very conservative reserve prices.
It could be weeks before a deal is stuck on the three remaining properties.
The auction debacle is also huge blow to Channel 9 and Watercress Productions - which reportedly shelled out $3.6 million for the rundown Cameron St houses.
They anticipated a very different ending to the runaway hit series after thousands of potential buyers turned up to the open-for-inspection days.
The disappointing result also comes on the heels of a Consumer Affairs Victoria investigation into the four agents marketing the properties - Hocking Stuart, Biggin & Scott, Woodards and Jellis Craig - amid suspicion of under-quoting.
If the Prosper prediction comes to pass then a young couple who just bought a house in our neighborhood (3156) for $25k over the reserve at auction (and I thought the reserve itself was $25k to high!) will be very dissappointed indeed.
I think Edwards is more likely to be correct for the moment. I have been looking at houses in Melbourne's east now for over a month and monitoring sales. Poor quality homes are going stale but well presented homes in good neighborhoods are still selling at or above the top of their price range. The traditional spring glut of houses going to market should be a gauge of where the market is headed price wise.
We've been attending opens across a few suburbs out here in eastern Melb and monitored sales for the last month or so in search of another PPOR. The pulse of the market out here seems to be that well presented homes in desirable neighbourhoods are getting a lot of attention and attracting top prices in their price range, anything else stays on the market for awhile and gets price adjustments. Buyers are picky but not that price sensitive if the property is a good one. For example, one well presented property had 60 groups through on the weekend while another in the same area in the same price range had about 10.What are your thoughts on the East based on your research?
Apparently Professor Robots is on consignment from the University and is doing the lecture circuit in the US on how to solve their real estate bust.
Looks like The Block auction failures - even with grossly "underquoted" values failing to attract bids - are a reflection of the true RE market sentiment at the higher end?
Read more: http://www.news.com.au/entertainmen...on/story-e6frfmyi-1226119267456#ixzz1VhUd38l2
Oh well. As long as the ratings were ok.Where to for median to high end RE from here??
aj
Of the suburbs we monitor, Pakenham, Cranbourne and Dandenong sales look under pressure with a lot of unsold stock going stale. Still a lot of development activity going in these suburbs and surrounds keeping prices down.
Suburbs like Rowville, Ferntree Gully, Upwey and Lysterfield are still attracting buyers for well presented properties. But spring will likely see a glut of properties hit the market in these suburbs a put some downward pressure on price expectations.
I didn't watch the TV show, but I think they paid 900k each for the houses, and spent 100k on renovations, so 1mil for each property.
The winner sold for 855k, and I heard that one of the properties sold after auction for 860k.
What were the other 2 properties advertised at?
Seems like a very big loss considering how much publicity they got for the apartments...
Looks like The Block auction failures - even with grossly "underquoted" values failing to attract bids - are a reflection of the true RE market sentiment at the higher end?
choka block --pun--full.
These type of shows have a lot to answer for in helping the Housing boom/bust convinced sucker R. E never fails now they need to do a show called Australia's biggest looser's and show how the economy works in real life
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