it's happening right now....has been soaring since around april. my friends bought a 2br 2 bath unit in kangaroo point with a bit of city views and river views (first floor) for $380k in may...now worth $450k. there aren't any units with views under $450k really.
I said from early in the year that land that are 600sqm+ at around $190k will reach $closer to $300k by the end of the year and it's happening.
All our properties have witnessesd about a $50k growth each since June.
ofcourse, rent has increased a lot in the last few mths too follow on from the growth. Our Kuraby house is being rented at $385 per week but now that it is valued at $450k , rent of $450 p/w should be achievable. Houses in this area rent out very quick anyway.
The house we have just finished building....when we started I was hoping that it would be worth around $420 to $430k on completion...back in april...now it's worth $520k....In jan i got a a rental appraisal for $450p/w, just got another one last week for $500 to $520 p/w. Land alone is about $260k...easily worth nearer top $300k by dec.
Okay, now I want to share this tip here.....just found out today yet to enquire...hmmm maybe I should wait until I can secure one fo myself!! but the capital growth is about $150k!!!
HI Sue,
Where is the capital growth about $150K?