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#1111 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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#1112 | ||
Shenanigans..............
Join Date: Mar 2007
Location: Footscrazy
Posts: 12,363
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Black tyre marks are not a good selling/buying point.
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#1113 | |||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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Quote:
Local land sales dropped right off when the first lock downs started, but once talk of restrictions being eased surfaced, sales went straight back to where they were previously. And auction prices have not dropped at all. Still places selling for well over the reserve price. Outside of the overpriced capital cities I think it's hardly even going to drop. |
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#1114 | |||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,567
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Quote:
Investment is meant to have a risk component.
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#1115 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,052
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This is a useful site, shows the changed in advertised prices and what price the property eventually sold for: https://propertyweb.azurewebsites.net/
A quick perusal of postcodes in my area paints a very different picture than the property spruikers and sales data (of which up to 80% is being withheld and not submitted) they present would have us believe. People are rapidly readjusting asking prices, frequently after only 2-3 weeks. That suggests a market starting to panic, having little faith the status quo will be maintained. I've seen flat out lies from agents - they run an ad showing a price they 'achieved' that was $50k higher than what the property actually sold for. You simply cant trust anything being put out by anyone that derives any income from sales. They are lying, both by omission and outright porkies. |
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#1116 | |||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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Quote:
When they open their mouth. |
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#1117 | |||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,409
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Quote:
Decline is occuring right now from what we see...... Sell July/Aug no matter you'll be selling for less, buying (less) similar later on. Usual turn of events same circumstance buying during when prices are high.
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#1118 | ||
2003 BA Falcon XT
Join Date: Jun 2008
Location: Wyndhamvale, Victoria
Posts: 1,138
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We just bought our first house - right before Covid started
![]() Assuming this hadn't happened we both think that we realistically had about 1-2 years to get in the market around Melbourne. We live in Wyndhamvale. We saved $50k when renting and paid $475k with using $43,000 deposit. New houses can be had for under $500k but land size is a postage stamp. I'm talking 4 bedrooms turnkey but less than 300m of land. Our house has doubled in price since 2010 which is scary. Still needs probably $15-$20,000 repairs outside but structural sound. We are just greatful to be out of the rental market. Also our mortgage is only $100 a week more than our rent which is nice.
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2003 BA Ford Falcon XT IMPCO LPG Vapour Injection. DETAILING Meguiar's NXT Car Wash Collonite #845 Insulator Wax Bowden's Own Happy Ending & Fully Slick Chemtech CT-18 Truck Wash (Wheels & Chassis) Bowden's Own Wheely Clean & Tyre Sheen Bowden's Own Three Way Paint Decontamination Spray OILS AND FILTERS Nulon Full Synthetic 10w-40 Nulon Long Life Coolant Ryco Oil & Air Filters My Instagram Account: @ba_falcon2003
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#1119 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,052
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#1120 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
Sent from my LG-M700 using Tapatalk
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___________________________ I've been around the world a couple of times or maybe more....... |
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#1121 | ||
2003 BA Falcon XT
Join Date: Jun 2008
Location: Wyndhamvale, Victoria
Posts: 1,138
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I know. They are low that's why we bought within our means. We did think about the possibility of interest rate hikes, but you can't go through life thinking what if. Worse case scenario? Interest rates go up and we lose a bit or break even.... imagine if the rates went up by 3%? So many people would have to simply walk away from their loans.
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2003 BA Ford Falcon XT IMPCO LPG Vapour Injection. DETAILING Meguiar's NXT Car Wash Collonite #845 Insulator Wax Bowden's Own Happy Ending & Fully Slick Chemtech CT-18 Truck Wash (Wheels & Chassis) Bowden's Own Wheely Clean & Tyre Sheen Bowden's Own Three Way Paint Decontamination Spray OILS AND FILTERS Nulon Full Synthetic 10w-40 Nulon Long Life Coolant Ryco Oil & Air Filters My Instagram Account: @ba_falcon2003
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#1122 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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#1123 | ||
2003 BA Falcon XT
Join Date: Jun 2008
Location: Wyndhamvale, Victoria
Posts: 1,138
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I know what you mean. Then house prices started to explode. I haven't done the comparisons with wages ect but I'd imagine most mortgages were around $70,000 back then? 3% now would be disastrous for people in the mortgage belt.
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2003 BA Ford Falcon XT IMPCO LPG Vapour Injection. DETAILING Meguiar's NXT Car Wash Collonite #845 Insulator Wax Bowden's Own Happy Ending & Fully Slick Chemtech CT-18 Truck Wash (Wheels & Chassis) Bowden's Own Wheely Clean & Tyre Sheen Bowden's Own Three Way Paint Decontamination Spray OILS AND FILTERS Nulon Full Synthetic 10w-40 Nulon Long Life Coolant Ryco Oil & Air Filters My Instagram Account: @ba_falcon2003
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#1124 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,052
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#1125 | ||
2003 BA Falcon XT
Join Date: Jun 2008
Location: Wyndhamvale, Victoria
Posts: 1,138
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That was sort of what I meant. This house and land was a huge $53k all up in 1988-89.... keeping in mind I live in western side of Melbourne. Say the average wage was $300-$400 a week.
So I just used the Bank of Melbourne mortgage calculator. It's 99% accurate surprisingly. Was only $2 out on our actual repayments! Anyway.... $65,000 loan over 30 years with a 17.5% interest rate is $238 weekly. So it seems houses were much cheaper, with high interest rate. The complete opposite of things now. And that house would probably be worth $900k plus now probably.
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2003 BA Ford Falcon XT IMPCO LPG Vapour Injection. DETAILING Meguiar's NXT Car Wash Collonite #845 Insulator Wax Bowden's Own Happy Ending & Fully Slick Chemtech CT-18 Truck Wash (Wheels & Chassis) Bowden's Own Wheely Clean & Tyre Sheen Bowden's Own Three Way Paint Decontamination Spray OILS AND FILTERS Nulon Full Synthetic 10w-40 Nulon Long Life Coolant Ryco Oil & Air Filters My Instagram Account: @ba_falcon2003
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#1126 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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#1127 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Quote:
Every dollar you earned over $675 a week you only saw 40c.... Mortgage repayments were in after tax dollars....ouch! |
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#1128 | ||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,409
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Be great stamp duty was reviewed
https://www.brokernews.com.au/news/b...rm-271661.aspx
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#1129 | ||
Guest
Posts: n/a
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my dad's house was about $25'000 and 3KM from the brisbane CBD.
I'm told that back then, any additional $$ you repaid over the minimum repayment went straight to the loan so the faster you paid it off, the less you paid in interest. I'd take that sort of arrangement with that sort of house-price-to-income ratio with the 17% interest any day of the week. I'm not sure why some people keep calling the younger generations lazy when they just had the luck of buying in better economic circumstances. |
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#1130 | ||
AU3 ute EL futura
Join Date: Oct 2008
Location: Brisbane
Posts: 485
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FWIW:
I live in a "village" of about 50 heritage homes on the outskirts of Brisbane. In the last maybe 9 months about 5 of 6 houses have sold here including 3 very recently. Ours is a relatively cheap area but I cannot believe they are getting so many sales so easily. Some sold off market and the agents are pestering us for listings. Those of you running numbers you should consider repayments as a % of income. When I was young houses cost about 3.5 times the average wage, but interest was maybe 9%. When it went to 17% house values retracted significantly. Now it's 2% prices are stupid. Stamp duty was one of the taxes that were SUPPOSED to go with the GST. Instead as usual they kept them and payroll tax and just added another tax on us. The GST had a flawed implementation so we got stuck with almost as narrow a base as sales tax but our fearless leaders managed to turn every small business into a tax collector and teh extra administrative burden was the final straw for a lot of them. Screwed again...now we are supposed to be grateful and excited they might do what they should have done 20 years ago ? |
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#1131 | ||||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Quote:
Hell ,we had 100 sq metre houses with one lounge room and one bathroom...and had sheets on the windows till we could afford curtains...air conditioning?...nope....two cars? nahhhhh Quote:
You can do that now...unless you have a "silly" loan.. |
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#1133 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,335
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Quote:
I left it far too long to buy a house and really at the time, it was at the height of the boom before the GFC hit. We mortgaged ourselves to what we could afford and still be comfortable. Upgraded and replaced bits and pieces here and there but it was ours for about 5yrs. Sold it and made about 50k out of it which wasnt bad for doing very little other than new floor vinyl and some cheap plants. We used that profit to build the house we currently live in. My point is, my expectations were realistic. We just had a vcr and the old box tv and we lived within our means at the time. I cannot say for a fact all people feel entitled to get everything, but I know a lot expect a lot for the price they pay in todays money. Here in SA, you can get your foot in the door with house and land for under $300k if you are prepared to live in the outskirts of Adelaide and prepared to drive up to an hour in to work or longer if you take public transport. The house is new, but the house size and what you get for that price is probably not good enough for some. You may have to do your own perimeter paving, landscaping, floor coverings and be happy with the base range from the builders specs in terms of selections, but these extras could be done over time when your funds allow for it. It all boils down to being realistic and what you are prepared to accept.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#1134 | |||
2003 BA Falcon XT
Join Date: Jun 2008
Location: Wyndhamvale, Victoria
Posts: 1,138
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Quote:
I've had arguments on the domain page on Facebook about this.... whilst I get this is stereotypical of gen y, some young couples seem to want to buy near the city in suburbs like Elwood, Burwood ect. I say to them move back out further to get into the market, as my mortgage is cheaper than renting in the inner city. But they don't want to live "in the sticks" so they just keep complaining about the prices
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2003 BA Ford Falcon XT IMPCO LPG Vapour Injection. DETAILING Meguiar's NXT Car Wash Collonite #845 Insulator Wax Bowden's Own Happy Ending & Fully Slick Chemtech CT-18 Truck Wash (Wheels & Chassis) Bowden's Own Wheely Clean & Tyre Sheen Bowden's Own Three Way Paint Decontamination Spray OILS AND FILTERS Nulon Full Synthetic 10w-40 Nulon Long Life Coolant Ryco Oil & Air Filters My Instagram Account: @ba_falcon2003
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#1135 | |||
Where to next??
Join Date: Oct 2006
Location: Sydney
Posts: 8,893
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Quote:
* That lives within 5km of the CBD * That has these specific degree(s) / qualification(s) / certificate(s) * That makes $xxx,xxx income based on their employment expectations * That must have this body type, hair type, eye colour etc * That must be this minimum height * That must have a car * Than must be of a certain religion and ethnicity * That must be totally single, not separated, divorced, no kids * That must be older than me and also want kid(s) But... it's certainly not their fault they are single - they just haven't met the 'right' guy yet ![]()
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___________________________ I've been around the world a couple of times or maybe more....... |
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#1136 | |||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,393
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Quote:
It also provides a much more solid revenue base both good things. But beware, rates here have been climbing but stamp duty reducing no so much. Heaps of people are ****ed about the double dip here. It is more likely to be long term reform. And stamp duty in a market such as Sydney is a huge money spinner. |
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#1137 | ||||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,084
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Quote:
In Adelaide every house and its kennel seems to have the pergola/covered outdoor area and even on houses priced around the $300K mark. I don't want a huge mortgage, I don't want something flash I pretty much just want to own something. One of the reasons I'm considering the move when I buy my first property is its $450K-$500K plus here in Boganistan which has poor infrastructure and you're still 45 mins out of the Northern suburbs of Melbourne. $300K buys you something in that Salisbury/Elizabeth area or Mt Barker if you go south - sure they're a bit low socioeconomic but so is Boganistan, at least Adelaide everyone's within 30 minutes of the city regardless of where they live and I imagine even in peak hour if you're living on one end and working in the other its not going to be like Melbourne where it often takes 2 hours plus go from CBD to Dandenong which is only 35km AND paying tolls for the privileged. Quote:
![]() I remember her telling me a guy ticked all the boxes and he was nice, met the ethnicity requirements but 'he was a driver and only on $60K/year' so he landed on the **** list. She has the full list of check boxes. The best one was signing up for Salsa classes then complaining that all the guys are gay. |
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#1138 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,335
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Quote:
That said, come further south and head to Port Noarlunga, Seaford area where there are some of the best beaches close by and you could possibly net a good deal in the new estates there. I live 3mins from Noarlunga and on a hill so I can see Port Noarlunga from my house as well as Seaford and Old Noarlunga. Not in a great area. But the views more than make up for it. 35-40mins from the city center via the southern expressway. As for Pergola's. Its the SA way to get a verandah fitted cheap. A lot of the low socioeconomic places have them and its suits the need well for little outlay. If you can afford a verandah/patio/alfresco under main roof then you are already ahead. But yes, pergolas are the norm here and only those in higher income brackets tend to find them ugly and prefer the UMR appearance. But they are an affordable option.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic Last edited by blueoval; 02-06-2020 at 08:53 PM. |
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#1139 | |||
Former BTIKD
![]() Join Date: Mar 2005
Location: Sunny Downtown Wagga Wagga. NSW.
Posts: 53,197
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Quote:
__________________
Dying at your job is natures way of saying that you're in the wrong line of work.
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#1140 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,335
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Quote:
![]() ![]() ![]() That depends which 'end' you venture down. The most south end of Maslins is where you need to keep your eyes pointed towards your feet. Don't ask me how I know this. ![]()
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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