Recent content by Durka

I did something similar previously. A few things to keep in mind: - I assume you are renting elsewhere / living with someone else in a home you don't own. You can't claim the PPOR exemption for more than 1 property at a time. - You must move in immediately on purchase, and have the tenant out...

Thanks for all the advice everyone. Good to remember that they will add a buffer for exchange rates. Luckily the USA pays much more than a 20% premium for my profession.

Hi all, I'm currently an Australian citizen (born here) living and working in Sydney. I am considering moving to the USA to work for the medium term (5-10 years), so during that time I'd be looking to return a lot of my money to Australia to invest (capitalising on what I feel will be a...

Thanks for the article and SQM links. Seems there was the slightest of upkicks in vacancy in April for Potts Point, but nothing statistically significant. Anyways, I signed with the new agent on Wednesday when I had the photos taken, listing went up on Thursday, agent brought someone through...

I'd be interested to know the statistics behind this. Different agents are telling me different stories about the state of the market. Is there a source of data I can query on the relative strength of the rental market for a particular suburb (or at least a given region) month by month?

It's in Potts Point, so definitely one of the more expensive suburbs in Sydney. The premium price comes from it being nicer than the average apartment (which are mainly smaller art deco apartments), includes parking (which is a rarity), is 300m to the station and 1 stop to the city, or you can...

I ended up letting go of my property manager. Even if the apartment was still overpriced, the fact was that even when they did everything their way they got no results, so I couldn't keep them around. I have rung around a few agents I talked to originally in order to find a replacement. Funny...

Thanks for the advice everyone. To answer some of the questions, I had professional photographs taken and the apartment was listed on both realestate.com.au and domain.com.au. My first mistake was choosing an agent in the suburb over. As they had some properties in my suburb I thought that...

I have an agent looking for a tenant for my property in Sydney. I have given the agent everything they needed to get a tenant, including dropping the rent twice ($40pw each time) from the original figure (which they suggested) and still they are unable to get any interest at all (0-2 tenants at...

This situation reminds me of an auction I went to December last year. It was for a 1 bedroom apartment in Edgecliff, Sydney, quote was over $500k. I went to the auction thinking that a reasonable price was somewhere in $560k-590k, my limit was at $580k. At the start of the auction all was...

Lol, remember Double Bay Double Pay, so you won't get value for money there. If OP can stretch to $220k try moving up the hill to Point Piper.

I am looking for a PM recommendation for my 1br apartment in Potts Point. I have sent a few inquiries to agents, and either they didn't even respond, their responses left me with little faith in their abilities (yes, I can see this renting for $100 above market value), or they charged way too...

I'm amazed by how far the laws seem to favour the tenant over there, quite a shock compared to where I assumed most of America would have been on the issue. btw if you aren't already, I recommend subscribing to priceonomics. They write fantastic articles about their core business of price data...

That's probably the case, as it was with a Big 4 bank

Thanks for the replies everyone, so obviously my line of thought was wrong :p. When the valuation came back ahead, my first thought was that something unusual was going on, even though I couldn't really think of a motive for that happening. Still, I am perplexed as to how it came back ahead...