Has Canberra peaked?

[geoffw]

This is obviously of concern only to a small bunch of forumites.

There's been sone talk recently that Canberra has peaked.

My local agent told me that he doen't think prices have peaked. "There's probably another four weeks of rises left".

But I received another confirmation today.

Eighteen months ago, I gave my criteria to a local agent.

Today, he called me back for the first time.

Here we go.

 

[Kevmeister]

18 months? LOL. So, Geoff, did you tell him what you thought of his "tardiness" in getting back to you?

 

[Brinkdude]

Hello GeoffW,

I think their is probably another "2 and half weeks left in rises" in the Canberra Market .

You mention you "gave your criteria to a local agent". I was wondering if you would mind sharing your list ? I am newish to property investing (1 house in Melba (ACT) & a Unit in Burleigh Heads, QLD, cashed up and looking for a couple more). Prices seem a bit over the mark in a number of ACT suburbs, but you have got to keep looking.

Cheers,



Brinkdude

 

[geoffw]

Brinkdude,

To be honest, I can't even remember what my criteria were then. It would depend on what month it was.

And it has changed again now.

I'll give Steve Navra another plug. Unsolicited and unpaid for. I have no connection with him.

But his criteria were a lot more emprical than mine. You could apply them anywhere (though Sydney And Melbourne have had much better growth records than Canberra).

And he's had many years experience. I've only had a few.

Not the answer you were looking for. But keep an eye out for Steve's seminars (unfortunately, now only in Sydney or Melbourne- he's given up on God's own, and moved out of Canberra).

And keep an eye out for opportunities to meet other people who like the same things.

There's Freestylers. See the meetings at http://www.freestyler.net.au/canberra.html

Or there's local people who get together for a Cashflow game in Queanbeyan. Two games so far- keep an eye out in tthe Meeting Point forum.

 

[Brinkdude]

Thanks Geoff W

I had a look at the Freestyler site - interesting, I'll explore more.

and I agree with your comments about Canberra - "Gods own".

We should just keep this little secert to ourselves. People outside ACT tend to bag it and blame the politicians (they elected) for the problems of the world "Canberra anounced today that all taxes where being increased" Blah, Blah, etc.....

Canberra is the best place in Australia to bring up your family. On the Property Investment Front - Good secure incomes, Capital growth, low vacancy rates (Canberra alternates between Number 2 & 3 in medium House prices - Capital Cities), but I digress, we should keep this to our selves.

Just a quick Question, if you don't mind, As part of establishing your property portfolio should you include Cashflow properties such as Queanbeyan (1 bed type) 10% + Hawker 7/8% + (1 bed types) or secure a medium priced townhouse ($180,000) that holds it's owns?

Thanks for the previous info.


Regards


Brinkdude

"A man with money met a man with experience, the man with the experience ended up as a man with money and the man with money ended up a man with experience."

 

[PIppety]

Hey Brink,

I hate to rain on your parade or your city - lol

"best place to bring up a family"

I don't have a family but I don't think I want my family (when I get one) to freeeeeeeeeeeeze their a$$es off

Perhaps I have spent too much time in Sunny QLD !

hehehehe

PIppety

p.s. just stirrin you & geoff - lmao

 

[geoffw]

As part of establishing your property portfolio should you include Cashflow properties such as Queanbeyan (1 bed type) 10% + Hawker 7/8% + (1 bed types) or secure a medium priced townhouse ($180,000) that holds it's owns?

It depends on your goals I guess. I do have the first category (a block of eight of them)- but it has the potential to add more, so there is growth potential as well as cashflow. A 1BR by itself would not have that growth potential. And 1BRs in the low end have a higher risk of things going wrong.

There has been a lot of discussion in this forum (and its predecessor) about cash flow vs growth. Check out those threads.

And Steve Navra has ways of converting growth to cashflow.

I lean towards balancing the two.

 

[geoffw]

I don't think I want my family (when I get one) to freeeeeeeeeeeeze their a$$es

Perhaps. But then it's far more comfortable in summer here than in Brisbane. The MWWI only hit 3 this year in Canberra- it would have been 90+ in Brisbane I guess. Even Sydney summers are unbearable for some.

(MWWI = Mrs Whitfield Whinge Index. Add 1 point for every day she complains about the unbearable humidity)