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The future of Australian property prices

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Oi! What's wrong with crappy Western Sydney? Just because practically all its houses are blocked in between major highways, freeways, toll ways and industrial parks... and are selling for some $1M a piece. Oh wait.

We all get used to where we live. So yea, property quotes rising are just psychological feel-good for those who have one property. Strange though for that those with multiple investment properties, most that I know tend not to sell on the high either.
 
moXJO said:
Unless you want to buy again near the center of Sydney. $2.7m ain't that much.
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Ain't that much money or it don't buy you that much?

My "reasonable" was referring to McLovin putting out some $300K to net some $800k in 3 or so years. That's pretty dam good.

For the buyer forking out at that $2.7m to gain similar returns... ermmm... But then again I never really appreciate property for its investment purposes, hence still poor

I was going to buy a property around 2013. Based it off my parent's purchase price a couple of years before, did a compound growth rate at a generous 5% and put the value at $560k. Decent enough for a McMansion I'm going to put on once I hit the big time.

Auction hit some $630k after a few bid so I didn't even have a chance before it hit $670k.

Same block would go for some $900k or more now.

I just don't see how something that would cost me another $8.5k to knock down could be worth almost a million. That'd be a $1.5m home... I'm just getting used to buying a $1.50 can of coke.
 
McLovin said:
What $300k?
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I was just assuming the 20% deposit [it wasn't 20% a few years back right?], sell it and after all expenses, possibly negative gearing gains to offset the interests etc. an average person buying at that price to sell for that other price would net some $800k?

Just a quick estimate with a few assumptions. Nothing specific to you.
 

Nah I had a much, much higher deposit. No negative gearing 'cause I live in it. If/when I upgrade it will not involve a larger mortgage.
 
McLovin said:
Nah I had a much, much higher deposit. No negative gearing 'cause I live in it. If/when I upgrade it will not involve a larger mortgage.
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Good work man, congrats.

I never thought it's possible to upgrade from a $2.7m home but yea, there goes my wife's dream of owning one of those houses by Centennial Park or Taronga Zoo whenever we accidentally get lost in the area.
 
luutzu said:
but yea, there goes my wife's dream of owning one of those houses by Centennial Park or Taronga Zoo whenever we accidentally get lost in the area.
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Not with that attitude luutz

All my Vietnamese mates are some of the most ambitious buggers around. They are into everything. Making viet movies, importing timber, owning clubs. There were some tearing up old train tracks and using the old rare timbers in furniture.
 

I'm at a stage in my life where I count wealth in the number of friends I have. Wait... definitely poorer with that metric

Yea, there are some very enterprising Viets out there. They definitely know how to turn a buck beyond the first generation's second-hand furniture, over-priced tuition workshop and exploiting later arrivals by sub-contracting sweatshops to their home.

Those rail sleepers definitely make great furniture. Use them with those old floor joists and rafters... real solid timber those.
 
Nothing to do with property, but my software development team are in Hanoi and they rock.

Have worked with dev teams in Malaysia, India, Bangladesh all cheaper than Vietnam, but the Vietnamese are the most astute and hard working
 

I think the Thais have taken over this segment.
 
moXJO said:
I think the Thais have taken over this segment.
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Have they? I guess subbing the work out for 10c on a dollar is too good an opportunity.

The folks was watching some news today where this American-Viet guy successfully sued the VNese gov't for screwing him out of his hundreds of millions. Headline said he was awarded $US1.25Billion. That's Billion with a B.

That makes him one of the few luckier entrepreneurs investing back in the the Motherland. I've known of some half dozen small fries going back there to invest just to see "the state" or relative taking everything.
 

FAKE NEWS. He is suing, but has not been awarded or won settlement. The minute you mentione $1B USD sounded suspicious. The person suing is an angel, lol.

Unless proven otherwise, please check before you listen to mum and dad.

5 minute google search might help.
 

I saw the headline in a Viet paper saying he won. Let's check.
 

Google's no help when I don't know any keyword

Will take a pic next time.
 
satanoperca said:
Dutch businessman sues Vietnam gov't for $1.25 billion in decades-long dispute

http://www.sbs.com.au/yourlanguage/...h-vietnamese-investor-sues-vietnam-government
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Cool. Took a pic of the paper today. They put a "?" at the end of the headline of him winning.

I don't follow the case, just from way too many people my parents know and heard of, his claims that the gov't make excuses to take his cash is quite credible.

There's this couple my folks knew who went back there in the 90s to open a sweatshop, seeing how they did pretty well with it here and I guess thought the model would work better at even cheaper labour costs. Soon enough explosives were found hidden in some corner of their factory and they lost everything because they were plotting to overthrow the gov't.

There are people who buy properties for retirement, putting it in their kid's or sibling's name over there. Letting them live in it while they're back overseas just to find it permanently belonging to their named relative when they came back a year or two later.

You learn a lot about life visiting VN. It's like learning a lot about politicians with Trump as president.
 
luutzu said:
Self-driving cars will change these in a hurry.

But no, parking isn't what's causing the current property prices.
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It certainly adds to the cost, have you seen how deep they dig the holes under most new apartment buildings to add all those car spaces.
 
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