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Really, how can you go past frankston?
DeeHwa said:Pickle is asking 'what is your favourite suburb', in comparison with what I referred to in the Point Cook thread, being which house (and suburb) people want the most.
DeeHwa said:If someone gave me a 1000sqm house + land and said I could choose any suburb I want, it would most certainly be Toorak or Brighton. People buy in Point Cook because it is affordable and for the majority of cases, houses are new and on decent sized blocks.
DeeHwa said:I can guarantee that 99.9% of people would rather own a like for like Point Cook house on a patch of Toorak, Brighton, East Melbourne land, than a Point Cook. That is my point!
DeeHwa said:Are you stupid or what?
You obviously either lack any sense of reality or treat the harsh truth as inherently arrogant.
You have definitely lost the plot.
because you are just a random clown simply defending against vested interests.
you incompetent underling
You are just contradicting yourself. To treat desire and favourite as completely different is just beyond linguistic comprehension. Pickle also made no direct mention of cost, land etc... so I have no idea where you got that from. Also, if people prefer to own an exact replica of a house in Croydon, and not Toorak, than that is not rational! That is pure stupidity.
DeeHwa, you really have no idea. If you talked about which would I prefer for an IP, then my answer would differ compared to a PPOR. I personally like living near the beach and would prefer a nice place in Williamstown for my family situation. Some people like living in the country away from the hustle and bustle, and money isn't everything to everyone.
If I was given a place in Toorak, I'd sell it straight away and put the money elsewhere.
See, you'd rather be given a place in Toorak because it is worth more. My point proven.
If you read my first post, you would have seen that I said assume that all house prices are the same value in Melbourne. From the sample we have and the fact most people knew that for the sake of this posting, price was not a factor in selecting a suburb, I think it's clear 99.9% of people do not want to live in Toorak. It looks like Brighton is a more desired place to live.
I don't see why you don't argue that generally people prefer to live in the well to do suburbs like Brighton, Kew and Toorak. That argument would have a lot more legs, than your 99.9% for Toorak.
Deltaberry, Lived in Hawthorn so know toorak well, have also lived in Surrey Hills & St kilda - would STILL pick Moonee Ponds or Essendon any day of the week. Stop clutching at straws to try and validate your point, I think the group has completely discounted your 99.9% to more like 10%.
Cheers
AV
*feeds troll*
I don't think that people are arguing over the same point here. You're telling us that property in Toorak is worth more than property in Point Cook (well known and widely reported, but thankyou for pointing it out); others are discussing preferred locations based on non-monetary factors. To each their own.
*feeds troll*
Ok, that makes perfect sense. It's like being asked whether you'd like to win a $100 note, or a $5 note instead. It's a different scale, clearly, but we'd all like to win the one that's worth more. Yes, I would rather be given a property in Toorak than Point Cook, solely because it's worth more. Like the $100 note, above, I would then exchange the Toorak property for something else, instead (perhaps twenty properties in Point Cook )
However;
If we are talking in absolute values, then I would rather own $x worth of property in other places. My preference for PPOR would be Warrandyte, and for investment... wherever I can make a profit. Location becomes irrelevant then but generally speaking we're finding more opportunities in outer suburbs than inner, recently.
I don't think that people are arguing over the same point here. You're telling us that property in Toorak is worth more than property in Point Cook (well known and widely reported, but thankyou for pointing it out); others are discussing preferred locations based on non-monetary factors. To each their own.
It all started in the other thread when someone said that there are lots of people that want to live in Point Cook, of which I said it is not true. It is because they have no other choice (my so called liability and personal limitation attribute) and used Toorak as a general example of the optimum preference. What that poster failed to understand (given solely on the basis of what he/she posted) is that where people live does not necessarily draw parallels with where they WANT to live.
This also leads to the very point of why I personally think places like Point Cook, Werribee/Hoppers are poor investments. I have been preaching this the whole time
and I seem to be a rare bred on SS.
This is not hard to understand because as you can see on most of the threads, it is about investment in essentially low median priced suburbs.
The most valuable assets, always, are those where the rich competes with the rich because value to them is so asymmetrical and often intangible. On the contrary, the worst assets, always, are those where people are trying to chase bargains. If you fail to understand this, then I pity you.
Using Toorak as an example (as I ever so often), the median house price was a bit over $700K in 1999 and it is close to $3mil today.
That includes the GFC as well. Unless you can prove to me you could do better with $700K buying multiple houses in 1999 in places like Werribee/Hopper, it would be impossible to argue which is the superior investment.
Now tell us about your investment journey - When you started, where you invested and what else you do besides writing about myths on property investing..
Harris
Can someone please find the link and paste here which included median values of the last 10 and 20 years of outer vs inner suburbs as well as the threads on inner vs outer ? I tried locating but couldnt find the threads.
It all started in the other thread when someone said that there are lots of people that want to live in Point Cook, of which I said it is not true. It is because they have no other choice