Cranbourne Vic
- Thread starter zi974
- Start date
Fail...
Such a rude young man. If your mother could see what you write she would be ashamed of you.
Hi All,
One thing about property investing is that its not just investors buying properties at any given point.
Its mainly normal everyday folks wanting to put a roof over the heads of themselves and thier family, the great aussie dream, that determine how quickly the growth in prices of an area is.
Now the good thing is, property isnt a one size fits all proposition.
There is masssive choice in the style, size, location and price of homes all over the country.
There are opportunities everywhere, whether it be in the inner ring or the outer burbs, and ultimately we as investors have to be comfortable with the purchase desision we make based on our goals beleifs and sleep at night factor.
We all follow different investment paths, none are right or wrong, they just give us different results....so if you want to invest in Cranbourne based on your research...do it, if you want to invest in St Kilda...do it.
Lets not denigrate areas based on our own narrow minded preconceptions. nothing stays the same, it is always changing, areas grow and develop, even ones 50km from the CBD....
There is a massive big picture when it comes to property that we should try and step back and see sometimes.
Cheers,
Nathan
One thing about property investing is that its not just investors buying properties at any given point.
Its mainly normal everyday folks wanting to put a roof over the heads of themselves and thier family, the great aussie dream, that determine how quickly the growth in prices of an area is.
Now the good thing is, property isnt a one size fits all proposition.
There is masssive choice in the style, size, location and price of homes all over the country.
There are opportunities everywhere, whether it be in the inner ring or the outer burbs, and ultimately we as investors have to be comfortable with the purchase desision we make based on our goals beleifs and sleep at night factor.
We all follow different investment paths, none are right or wrong, they just give us different results....so if you want to invest in Cranbourne based on your research...do it, if you want to invest in St Kilda...do it.
Lets not denigrate areas based on our own narrow minded preconceptions. nothing stays the same, it is always changing, areas grow and develop, even ones 50km from the CBD....
There is a massive big picture when it comes to property that we should try and step back and see sometimes.
Cheers,
Nathan
Relying on fickle 'hot money' from overseas to drive future capital growth is speculative and should form no part of a conservative investing strategy. Paying too much for 3% yielding property in 'prime' areas does not count as conservative or prudent in my book.
And bear in mind that an area may be 'prime' for living in but may not necessarily show commensurate performance as an investment (and vice versa - areas not to my taste might have appreciated well).
Foreigners can and do sell up if the going gets tough. Neither are they invincible. Who is to say they won't pull their money (and even themselves) out of Australia and move into (say) a resurgent USA in the future?
Foreign capital is neither unstoppable nor stable - recall the bubble of Japanese investment in the Gold Coast in the late '80s and the subsequent slump.
While I agree that relying on overseas investors isn't a good thing for anyone in the long run, it doesn't change a good investment strategy. People will always want inner-city for as long as Melbourne is still standing so trying to justify your Cranbourne purchase is pure rubbish. Saying that these types of outer-suburbs have experienced better growth than inner-city doesn't mean anything at all - in either case the higher base value of the inner-suburbs will make the rich richer!
I bought a House in Cranbourne because I could get a nice 4 bedroom house with a big backyard for my dog for a good price. Those are the only reasons I took into account. It's a PPoR, not an IP.
The only reason I posted those figures was because people were saying that Cranbourne was a zero growth dump, which is just untrue. I don't need to justify my purchase there, because I bought there for lifestyle reasons, not investment.
Inner city might be fantastic for some people, but there are many different investment strategies for many different people. It's not right or wrong to invest inner city, outer city, or in regional areas.
Some people might decide to buy a heap of high yield 60k properties in small country towns and overtime they have the potential to become just as rich as someone who invests in inner city blue chips.
It's great that inner city investment works for you, but don't ram it down everyone else's throat as the only way to invest in property.
The only reason I posted those figures was because people were saying that Cranbourne was a zero growth dump, which is just untrue. I don't need to justify my purchase there, because I bought there for lifestyle reasons, not investment.
Inner city might be fantastic for some people, but there are many different investment strategies for many different people. It's not right or wrong to invest inner city, outer city, or in regional areas.
Some people might decide to buy a heap of high yield 60k properties in small country towns and overtime they have the potential to become just as rich as someone who invests in inner city blue chips.
It's great that inner city investment works for you, but don't ram it down everyone else's throat as the only way to invest in property.
If that's why you bought it then that's fine. I would like to live in a large house one day too (I currently live in a CBD apartment). But even if something is our PPOR we would want it to go up in value significantly so it makes us wealthier so we can do more things in the future - hence the discussion of why I think the best strategy is still inner-city living
May/may not be financially (this debate has been done to death with a few other users - some people need to take into account yield, can't afford the higher outlay etc. of inner city properties), but there are other things to consider. I live in a city apartment too, and I see children's toys etc. on the balcony of some apartments and I think it's borderline cruel to have a child locked inside a little apartment all day (not to mention I don't know how the parents don't go insane). Sure the parents can take them to the parks nearby, but it's not the same thing as having the freedom to go play on the swings or trampoline at any time in your own backyard. Some people don't like crowds, pollution, traffic etc. so city lifestyle may do their health harm. I don't think you can put a price on your health and sanity. So I disagree that the best strategy is always inner-city living. Only if that is how you want to live and don't have a family in my opinion.
