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4 times $86k is $344k plus cost of renovation by builder $180k = $524k. It was valued at $320k prior to the renovation. All we did personally was clean up the mess, and what a mess there was! PPOR has had new paint, new roof and a deck added, so some work done but not exactly major work...

I don't know what a ranch style kern built house it but I am guessing it is one of those flat roof butterbox things. Ours are highset 1930's Queenslanders on big bocks in a very nice area. When we bought the IP it was filthy, overgrown, rodent and cockroach infested and full of and...

Mackay, Queensland. PPOR purchased in 2003 for $120k. IP over the back fence purchased 2001 for $86k. 3 very similar houses within a 200m radius sold within the past 3 months for $495 - $550k. I am still scratching my head about these recent sales. Isn't there supposed to be a downturn?:D...

You might be waiting a while Mark. 3 times average annual income will not even build you a basic 3 bedroom home where I live, let alone buy land to build it on. The cost of labour and materials are not going down and builders/developers won't produce houses for a loss. There is already an...