Crikey. 30% gain in 1.5 years.

My Reservoir property I purchased a year and a half ago has gone up 30%. Un-bloody believable. Tell us your feel good story over the last year or two!
 
How do you know?

2 similar houses in the same street got sold at ridiculous prices a few weeks back, so only a guess, but it's a good guess I tell ya!

Rang the Real Estate Agent also and he agreed that I could easily get $x for it after having bought it for $y not that long ago.
 
Bought a house in Burnside Heights and it's been just over a year since the land settled and they started construction. Bought for $366-370k, now worth $440-450k - an increase of $70k or 19%. Now trying to set up a LOC which will allow me to use that equity to generate cash.
 
That is what I am hearing too.

A lot of people stuck their noses up at Reservoir....but now due its affordability and proximity to the city is has done well. Stuff which was low 300s in 2006 is now mid 400s now!

Seems to be happening in all the affordable areas....

My Reservoir property I purchased a year and a half ago has gone up 30%. Un-bloody believable. Tell us your feel good story over the last year or two!
 
We bought ours mid 2008 for $65k, nicely renovated now. Dubious unrenovated houses are happily selling around us for $130-180k. Renovated ones well over $200k. The land we split off is about $50k - meaning the original house AND land was 'worth' barely $15k so from that to around $180k in 18 months is phenomenal. I don't think we are ever going to come even remotely close to this kind of increase in such a short time ever again. Bargain of a lifetime, I say, and its going to set us up for life too.
 
Awesome growth. Congrats. :D

Fingers crossed it doesnt go up by only 1% each year from now on for the next 20 years :p

Cheers

Mick
 
I bought a property in Reservoir 2 yrs ago for 275k.

Worth about 355k today based on a recent sale.

So about 30% CG over a 2 year period.
 
Is that a house or a unit?....if it is house then it is probably worth more than 355K.......looks like you have done well. So even more than the 30% growth.

I bought one further out in Melton South....for 155K (3 bd house).....I fell off my chair when the agent said I will get at least 220K...it was also bought two years ago!

My only regret is not buying more in Melbourne!
I bought a property in Reservoir 2 yrs ago for 275k.

Worth about 355k today based on a recent sale.

So about 30% CG over a 2 year period.
 
I've never really taken much notice of growth in % terms. I tend to measure performance by the number of $$ equity I can pull out.
This thread has prompted me to look at some of my figures.
My best performer by percentage is up 46% from June 2007.
My worst is up only 22% since Jan 2008.
The others are all around the 26-28% region from April 2007.
My best performer based on time, though, is 28% since April 2009. I've just had it revalued for a loan top up, so I know the val is accurate.
I'm still going to keep measuring my performance in the game by $$$ not %, though :)
 
Is that a house or a unit?....if it is house then it is probably worth more than 355K.......looks like you have done well. So even more than the 30% growth.

I bought one further out in Melton South....for 155K (3 bd house).....I fell off my chair when the agent said I will get at least 220K...it was also bought two years ago!

My only regret is not buying more in Melbourne!

It was a unit actually. Yield's ok too.
 
I'm still winning with my 360% raw increase in 18 months :D We sell early next year so a fair bit of that gain will disappear in agent's fees, unfortunately.

Why noone else bought that house is beyond me. Its such a gorgeous little (too small for us) house in a fantastic location. I'm not expecting it to take more than a couple of weeks to sell.
 
We purchased our PPOR for $170,000 and now is worth ~$250,000 according to recent house sale across the road.

Whats that in CG% growth?

We have owned it for 8 months.

Cheers

Mick
 
We purchased our PPOR for $170,000 and now is worth ~$250,000 according to recent house sale across the road.

Whats that in CG% growth?

We have owned it for 8 months.

Just using simple maths, that's $80k on $170k so 47% up in 8 months = about 71% p.a.
 
Just using simple maths, that's $80k on $170k so 47% up in 8 months = about 71% p.a.

71% PA... Not bad for Werribee ;)

Now if only it increased by that much every year. Hahaha

Getting a great discounted price to start with helped soo much.

Cheers

Mick
 
That's why you so often hear people say "you make your money when you buy".

Well maybe, but if you bought a house 30 years ago for 25k, they would have had to give it to you, plus another 250k to even break even with now, wouldn't they? So where was the money made?
 
I bought an old house in Traralgon in 2004 for 100K renting @ $150/week. It is now worth about 200K and rents @ $215/week, so about 100% CG increase and still decent value at that price, so more room for price growth in my view.

In fact actual value would be much higher again, now that it has been approved by council for two lot subdivision.

150% ???:D
 
you folks post great gains , and congrats for that, but Gee, if only you had 10 in the same areas. i bet youve thought about that once or twice , :confused:
 
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