How are your areas moving right now ?

How are your areas, investment or home wise traveling right now ? Any increase/decreases in market movement , price ranges ?
What do your agents have to say ?

I mainly deal in Vic regional areas, west from Geelong outer now and I'm pretty surprised at just how keenly things still seem to be moving and how fast a lot of stuff is going out the old door.
Prices are still propped up quite a notch or two from when the HG took hold .
Although quite a few agents have admitted lots of deals falling over lately usually due to financing . One bloke said that side of things is becoming the story of his life lately, bank screws .

Cheers
 
Where my IP is? Nothing sells. Had the house for sale at $75k for what feels like donkey's years. Median stuck at $65k for ages. Maximum possible rent there of $110pw. My house is obviously far too expensive :rolleyes:

Where my current house is (a 15 min drive from the IP) its just up up up up up .... the median is over $300k now. Every week it seems a new house appears and a new family has moved here. Crazy growth, but noone wants the old, cheaper houses - they want to build enormous new houses. At some stage all the fancy new houses will outnumber old houses and the median here will jump.
 
How are your areas, investment or home wise traveling right now ? Any increase/decreases in market movement , price ranges ?
What do your agents have to say ?

For me, it's more about what I'm doing, what I am creating, negotiating--->definitely about accruing assets, but how best for me, to be doing that.

Externals are just that, other people opinions, thoughts....just that.

I buy/invest, as well as I can, when I can afford it.

Long term, and some short term leaping, my assets increase in value, but I am doing my best and craftiest to make my money as I buy.

So far, so good.:)
 
my area - wow - what a difference 3 weeks makes.

about 80% of those private lots that weren't selling are suddenly under offer.

only friday i commented to Mrs Card that i saw three second storey concrete pumps in the sky - thought it was the CBD for a second coming over the hill.
 
What can I say about my main area is prices and rents up up and away like superman. Getting messages from property managers that when the leases expire they want to put them on 6 months instead of 1 & 2 yrs so they can keep adjusting the rents upward to match the demand.
 
Where my IP is? Nothing sells. Had the house for sale at $75k for what feels like donkey's years. Median stuck at $65k for ages. Maximum possible rent there of $110pw. My house is obviously far too expensive :rolleyes:

Where my current house is (a 15 min drive from the IP) its just up up up up up .... the median is over $300k now. Every week it seems a new house appears and a new family has moved here. Crazy growth, but noone wants the old, cheaper houses - they want to build enormous new houses. At some stage all the fancy new houses will outnumber old houses and the median here will jump.


Only 15 mins up the road eh. Often then you'd reckon your cheapy could be in the perfect spot to buy up b/c areas often move over to the next best thing when the hotspots start getting ridiculous. Never know , you might get a nice surprise one day .
 
In the small areas we invest in,property sales are slow,numbers of listing from this time last year are up over 60%,but prices are staying the same
what happens in small time frames has no importance at all,span it over 5-10 years then you get the real picture..willair..
 
My part of Sydney's inner west - Marrickville - is going nuts right now.

Much of the inner west is going nuts.

I'm getting lots of RE agent flyers in the letterbox, 'We have buyers waiting right now to buy your home.' A flurry of those leaflets is always an indicator of a hot market.

The disappointing thing is that Marrickville is changing very quickly. I moved there because it was a bit edgey and I liked all the old wogs - mostly Greeks whmoved there in the 60s. As they get old, their houses are bought by people like me, and I don't want to live in a suburb full of people like me.
 
The area where our PPOR is (soon to be IP) seems to be steady growing. There has been alot of construction nearby with word getting around that there is plans for a big shopping centre to be built in the future. As willair said, the important factor is what is going to happen over the next 5-10 years. By the looks of things, our IP should be worth a little more in 10years then it is today ;)
 
Sydney's Northern Beaches where I invest is also going off right now. Its middle to upper medians so is supported by all those upgraders and downsizer markets. Prices and clearances have spiked. My valuation on Mona Vale just came back above where I'd hoped it would be.

All good, looking forward to completing the project in 12 months time and assessing the market again then.

North Narrabeen is a bit slower to move though. A slightly lower socio-economic demographic with big houses. Heaps of sales and high clearances but not much price movement being reported yet. Just up 10% odd on 12 months ago but the REA I spoke to says to watch this space.

Cheers,
Michael
 
prices and rents stabilising. rents were all $350 a month or two ago, $310 is a more common number now. few greedy ones advertise too high rent and no interest, saw em back the next week $5 or $10 lower.
 
Rentals have definitely slowed down. Had to decrease my rents for the first time in 3 yrs just to get tenants in. Reports from agents is that there is a lot more properties on the market for rent at the moment.

Selling prices seem to be still hot though.
 
Rents are still going up in all of mine with the exception of a Regional NSW area. The Sydney ones are all around $100pw more expensive than they were about 5 years ago.:D As for CG, nothing earth shattering, just slow steady growth with most up around 20% from what it was a couple of years ago.:D
 
Rentals have definitely slowed down. Had to decrease my rents for the first time in 3 yrs just to get tenants in. Reports from agents is that there is a lot more properties on the market for rent at the moment.

Selling prices seem to be still hot though.

leicachamp, do you mind me askng what area's this is in?
 
Rents are still going up in all of mine with the exception of a Regional NSW area. The Sydney ones are all around $100pw more expensive than they were about 5 years ago.:D As for CG, nothing earth shattering, just slow steady growth with most up around 20% from what it was a couple of years ago.:D

what price movement would you estimate over the 5 years . and care to share the rental price ?
 
what price movement would you estimate over the 5 years . and care to share the rental price ?

That would be the 20% I mentioned. Prices were pretty flat for several years and have now just started moving. Rental price varies depending on type of property, suburb, bedroom and features.
 
Top