澳洲Australia property Seachange Suburbs still lagging behind |
在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m
Am a newy so please take it easy
I want to get some insight from you as to why it is that whilst most of Australia's capital cities have enjoyed a return to higher property prices for their investors Seachange suburbs like Nelsons Bay, NSW still lag well behind.
Am I right in suggesting that these properties are often purchased by corporate high fliers as holiday homes and when times get tough these are often the first things to go...thus leading to a high amount of stock in the market with more stock than demand?
I purchased one such property in 05 and have seen a steady decline in its price ever since, with things having picked up again in the capital cities does anyone have any inclination as to how far behind Sea change suburbs like Nelsons Bay are behind in their market recovery?
Am thinking of taking a hair cut and reinvesting my money in something with a better rental return and capital growth outlook or am I jumping before the horse is ready to bolt?
I hold similar properties and they tend to be volatile - amplifying what is happening elsewhere. I think next summer they may kick up a bit and when the resources boom takes grip then they'll be away. if china hiccups they may languish for years
yeah my suburb has fluttered and stagnated.
never mind.....i like where i live and the CG component is a 20-50 year plan - ie hand over to my kids.
depends on what you paid back in 05....
I have been doing a bit of DD on the area and see many properties bought in 05 at the 'top' and today they are returning hefty losses....I feel there was way too much paid in 05...especially for units/strata.
Still alot of that overhang to be cleared yet.
Free standing houses look to be pretty stable though...
Thanks for the feedback everyone, yea paid top $ for it (free standing house on duplex approved DA site) in 05. And in hindsight probably should have invested elsewhere for a better return....live and learn I guess.
I also have a property very close to the water that just doesn't pay its way
I have contemplated selling , but common sense tells me that the money I get for it will never replace it.
I just tend to now forget it.
Now that you have it, it's probably wise just to hold it for the next few (?) years. They will come good again, sooner or later.
In the meantime, could it use a few low cost improvements, such as aircon etc?
Just to improve rental/saleability and make it a bit easier to hold onto. Good luck with it.
I guess from here you need to do the sums and work out whether it's worth holding for however long it takes to come good or to use the funds for something else to catch up again....
Most likely it will catch up by itself one day....just depends on how patient you are and if you can afford it. Lot's of things.....
It may not either...depends how much overs you paid...
Maybe we need some more specifics about this property...location, land size, date built etc etc...to work out it's prospects going forward...?
Then you need to consider the costs of selling and re-buying....this can add up to a large sum and really does need to be part of the equation
You say "your money"...so no borrowings....? As interest is yet another factor (obvious sorry).
But then, I'm no expert or advisor either....I can only say what I feel is right for me....