澳洲Australia property Toorak under 13k .... in 1950 | Sydney


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


I have been looking at old newspapers online recently and came across this beauty, Ahh those were the times.
It was advertised in The Argus 21st Jan 1950, here is the link.
http://trove.nla.gov.au/ndp/del/article/22805925

TOORAK.
Outstanding Position, Adjacent Cnr. Glenferrie and Toorak Rds. Mod. 2-storey Home, built approx. 12 yrs :
containing: Downstairs: Large entrance hall. lounge, dining rm. den. Excellent kitchen and servery.
both fully fitted with cupboards. Maid's rm., bathrm.. and toilet.
Upstairs: 4 bedrms.. balcony and splendid sunroom. bathrm. and toilet. Immediate Possession. £12.950.
WILLIAMS & CO.  

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Hehe I'll have the maids room thanks :)

Thanks for the link- though it was before my time it certainly makes for interesting reading!  

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That was interesting :) reminds me of the chats I have with older relatives who tell me about the good ol days ('65) where they didn't care about property investing because you could build a house with 2 years wages and people mostly built in order to occupy/raise a family. Using those numbers, you'd be able to build a house for $120 000 including land in todays dollars. That'd be great. I'd be the biggest bludger and do so much more fishing if that were still the case :(  

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I liked the last one in Toorak. Vacant block right on the hill for 3,480 pounds.

If you bought that and kept it vacant, imagine the growth and stress free life of not having Tenants, and no maintenance. Triple bliss.  

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thanks for the link to that site - never knew it existed  

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That's so expensive (for 1950) !!! How did first home buyers ever manage to get into the market !!!  

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^^ Sounds like a bubble.  

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bene313 said: ↑
^^ Sounds like a bubble.Click to expand...
no thats gold/silver
A ponzi scheme if ever I saw one.  

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PT_Bear said: ↑
That's so expensive (for 1950) !!! How did first home buyers ever manage to get into the market !!!Click to expand...
Don't all first home buyers believe they should have a 4br 2 story house in Toorak with a maids room? :)  

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peastman said: ↑
Don't all first home buyers believe they should have a 4br 2 story house in Toorak with a maids room? :)Click to expand...
Of course they do! After all, what sort of person would want to live in Port Melbourne, St Kilda or Elwood?  

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Damn, or what about the one with price of $12500 or offer, with returns of $2900 per year, finance arranged... love it...  

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I was in a beautiful old abandoned house and small farm about 10yrs back near Woodend/Gisbourne. For anyone from other states , that's a pretty expensive hobby/come Colin street farmer type area now days around an hr out of Melb.
I found all sorts of stuff under the old lino /papers/ads /letters/receipts and the owners original slip for the purchase of the property in 1905 .
Can't remember if it was 6 shillings or 6 pound . Someone did the place up a yr or two back and sold it for 1.8mil. Now that's inspiring ain't it :cool:

But speaking of Toorak , a friend of the family bought his place in 1970 and paid 70k for it . He sold that around 05 I think it was for 3mil. Now that's really inspiring .

Cheers  

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Ocean Architect said: ↑
That was interesting :) reminds me of the chats I have with older relatives who tell me about the good ol days ('65) where they didn't care about property investing because you could build a house with 2 years wages and people mostly built in order to occupy/raise a family. Using those numbers, you'd be able to build a house for $120 000 including land in todays dollars. That'd be great. I'd be the biggest bludger and do so much more fishing if that were still the case :(Click to expand...
Back even further in the days they used to just barter ... so you could build a house for some potatoes and tomatoes. And because the population was 5, these guys built massive mansions just outside modern day Hyde Park.  

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Actually the price is listed in pounds, so the cost was $26K.

My parents built their home in Ashgrove, Brisbane in 1950. Cost around $2K. Dad was earning five pounds ($10) a week.

So twelve thousand pounds would have been an absolute fortune in those days.
Marg  

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marg4000 said: ↑
Actually the price is listed in pounds, so the cost was $26K.

My parents built their home in Ashgrove, Brisbane in 1950. Cost around $2K. Dad was earning five pounds ($10) a week.

So twelve thousand pounds would have been an absolute fortune in those days.
MargClick to expand...
My thoughts too Marg. In about 1960 my parents bought their first house (little rundown dump that it was!!) for about one thousand pounds. My first thought on seeing the original post was that Toorak was still very aspirational and just as far "out of reach" to the average house buyer than it is today.  

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marg4000 said: ↑
Actually the price is listed in pounds, so the cost was $26K.Click to expand...

Dunno what the place would be worth today, but just for the exercise, if it's worth 2 million today, and $26,000 in 1950, it's only done 7.38% compound over 61 years. And that's including the high interest rates and high inflation 70's and 80's when 7% compound was actually going backwards.

About spot on what most property has done.


See ya's.  

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I just amended my previous post to make it more clear. I believe the house at Toorak was just as far "out of reach" to the average buyer as it is today.

It just seems cheap looking back, like most things do. But it was not cheap. It was out of reach to most.

Occasionally, an "average" buyer can get lucky. My parents' first dump that they bought for about one thousand pounds, and with three kids under three, had to take in a boarder (three bedroom house) to help pay the mortgage last sold for about $1.5M and the buyer bulldozed it and built a mansion. It just happened to be on a hill overlooking the city, which was not worth a premium back in 1960 because the highest building was the City Hall. Nobody wanted that side of the hill. My parents couldn't afford the back side of the hill where the new brick and tile houses were being built.

Those brick and tile houses would be worth $700K (more or less) now, but as the city has grown, our first home's value has risen by more than double that of the "modern" ones. My parents had the opportunity to keep it when they moved to a flat block, but everybody told them that houses would never go up, inflation was not pushing prices up, and so they sold it. Pity!!!  

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topcropper said: ↑
Dunno what the place would be worth today, but just for the exercise, if it's worth 2 million today, and $26,000 in 1950, it's only done 7.38% compound over 61 years. And that's including the high interest rates and high inflation 70's and 80's when 7% compound was actually going backwards.

About spot on what most property has done.


See ya's.Click to expand...
That land is at least 4k SQM so probably closer to 3m+ now  

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