I can see a trend developing:

[virgo]

rental in sydney

Hiya Skater and MTR

Just rented my standard 3BR fibro clad home for 370 per week plus 230 for a 1 bedroom granny flat side by side within a week of listing!

Total 600 rent for a 385K purchase and 25K reno; howzstat compared with your returns? Is that considered good? Should i be stoked?

It's in the Parramatta surrounds....

BTW, got the granny flat approval done under the new NSW planning laws with a private certifier...that was a pain in the b... but hopefully this will get rid of the problem of unauthorised granny flat status once and for all when it comes to onselling in the future...

 

[MrCrumbpacker]

Hiya Skater and MTR

Total 600 rent for a 385K purchase and 25K reno; howzstat compared with your returns? Is that considered good? Should i be stoked?

.

Sounds a bit more like it.

What would interest only on 410k be per annum, what other costs are you down for, ie rates, water, management?. What do you work on average maintenance, 1.5%?

In the UK whan IRs were running around 8%, I was looking for a return of 11-12%, but tennants paid all bills, including rates.

 

[skater]

what is it with resi investors that they are so keen to give away cash?

Sheesh! I don't! I keep mine as high as possible. I'm not bloody Centerlink or the Housing Department.

 

[skater]

Is that considered good? Should i be stoked?

..

Sounds good to me.

 

[MTR]

Glad you got it rented. How big is your g/f? We had work to do on ours, and it was supposed to be finished, but something else came up (as always). Now Hubby is going for an opperation on Monday, so it will be some time before ours is up and running. Can I ask what rent it is getting?

Hi Skater
originally asked for $200 pw, has a couple of signed up applicants but they were a worry. Dropped it back to $180 pw, its just a basic room with separate toilet/bathroom. Kitchen and laundry located in a patio area, similar to alfresco but a very poor version

Cheers, Marisa

 

[MTR]

Hiya Skater and MTR

Just rented my standard 3BR fibro clad home for 370 per week plus 230 for a 1 bedroom granny flat side by side within a week of listing!

Total 600 rent for a 385K purchase and 25K reno; howzstat compared with your returns? Is that considered good? Should i be stoked?

It's in the Parramatta surrounds....

BTW, got the granny flat approval done under the new NSW planning laws with a private certifier...that was a pain in the b... but hopefully this will get rid of the problem of unauthorised granny flat status once and for all when it comes to onselling in the future...

Hi Virgo
sounds Ok to me.

I paid $315K for property, house renting at $350 pw and $180 pw g/flat
total $530 pw am expecting to raise the rent within 6 months time on both.

Not costing me to hold and expecting some good growth in 2012

Cheers, MTR

 

[skater]

I paid $196k for mine a couple of years ago. The house is getting $280pw, but will be going up soon. It sounds like my g/f is a bit bigger than MTRs one, so I will be expecting a decent rental for that, but as I said before, we have other things at present to be occupied with, so it might take a while.

The g/f consists of bedroom, small lounge area and kitchen. Shower is on one side of kitchen and will be newly done, and the toilet is on the other side of the kitchen.

 

[virgo]

Granny Flats

Hi Skater

Hey! Your yields sound really good! Mind sharing the suburb ? (PM me if you wish).

MTR: i think i know which house you bought; is the suburb starting with D..?

The main house looks really nice with a sloped ceiling kitchen and the owner was putting in new landscaping right? The only thing that held me back was the surrounding neighbours???maybe i was wrong!

I'll be monitoring how my new setup holds up; if all goes well after 6 months; i'll be putting a gf in my backyard! Know any builder?

 

[MTR]

Yes, maybe is the same property. Granny flat attached to garage, not that old, in good condition.

There had been an offer on the table but finance fell over and I just happened to phone on that day.

I am happy with the purchase.

I am from Perth, can't help you regarding builder.

Cheers, MTR

 

[skater]

MTR, I don't think your one is the one that I noticed for rent. The one I noticed was in Tregear.

 

[whatever123]

Well to give you another idea:

I counted the total number of rentals available in Australia on RE.com mid April and then at regular intervals since then and this is the result:

18-Apr 28-Apr 11-May 24-May
92583 92863 94237 95742

So a 3.4% increase in about a month. This sure doesn't reek of chronic housing shortage.

I've done a state by state, and interestingly Vic and NSW are the worst, both with increases of around 4.5%!

I thought and update to this data might be interesting.

21-Aug
97447

10-Dec
101537

Separated into 3 states, shows Qld up 4.1% since MAy , NSW 7.6% and Vic 27% which surprised me. I wonder if anecdotal evidence supports this observation?

have done similar for Sales and as we are also hearing from REAs, it shows for sale listings are increasing significantly every month since Feb this year.

 

[Ridin-High]

so NSW up 7.6%

in campbelltown vacantcy was 0.8% with that increase it goes up to 0.86% Oh noes the world is falling over AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

 

[tcocaro]

Given you have believed in the bubble theory for some time now is it possible you can provide a time-frame for it to eventuate. I will happily put on record my view that you are wrong and therefore challenge you to provide some more details. If you don't then your just filling air-space with noise and useless tid-bits because I too can claim correctly the property market will crash so long as I don't give any time-frame and instead say "eventually".

So what is it? Please provide how much it will crash by and when? ranges are fine but please say something more than shouting BUBBLE BUBBLE or posting cherry picked posts to substantiate your ambiguous view. By providing more detail you wont get "attacked" until you are wrong or applauded if you are right.

Ill await your flippant, avoiding the question response which no doubt will include no direct answers.. please prove me wrong.

I believe the bubble theory but you get attacked for saying that out loud here so let's just say I have no opinion. Merely making note.

 

[Ausprop]

Ill await your flippant, avoiding the question response which no doubt will include no direct answers.. please prove me wrong.

might be waiting - Sunfish is one of the grand old masters of SS that have retired from the forum as a result of a recent blow up

 

[redwing]

I believe the bubble theory but you get attacked for saying that out loud here so let's just say I have no opinion. Merely making note.

All these areas of undersupply and the oft quoted 200,000 additional properties needed must all be in the wrong place?

I had noticed that. SOME of the problems in these states will be exacerbated by the Super Tax which will definitely slow them down. So do you think there will cross-border infection? I expect so but don't know enough about the southern states to make meaningful comment.

It's okay...in WA we have Superheroes, including Iron Ore Man

might be waiting - Sunfish is one of the grand old masters of SS that have retired from the forum as a result of a recent blow up

Really?? I missed that one

 

[hobo-jo]

So what is it? Please provide how much it will crash by and when? ranges are fine but please say something more than shouting BUBBLE BUBBLE or posting cherry picked posts to substantiate your ambiguous view. By providing more detail you wont get "attacked" until you are wrong or applauded if you are right.

Ill await your flippant, avoiding the question response which no doubt will include no direct answers.. please prove me wrong.

Housing has been crashing for years when priced in Silver/Gold, an asset/currency that Sunfish has advocated on this forum for sometime

As mentioned above Sunfish has moved onto greener pastures (at least for now), so you are unlikely to receive a direct reply.

I find it somewhat amusing that you want to extract a prediction, but don't appear to be providing one yourself to counter it... What sort of growth do you think we'll see in the next 12 months? 2 years? 5 years?

 

[bluestorm]

Given you have believed in the bubble theory for some time now is it possible you can provide a time-frame for it to eventuate. I will happily put on record my view that you are wrong and therefore challenge you to provide some more details. If you don't then your just filling air-space with noise and useless tid-bits because I too can claim correctly the property market will crash so long as I don't give any time-frame and instead say "eventually".

So what is it? Please provide how much it will crash by and when? ranges are fine but please say something more than shouting BUBBLE BUBBLE or posting cherry picked posts to substantiate your ambiguous view. By providing more detail you wont get "attacked" until you are wrong or applauded if you are right.

Ill await your flippant, avoiding the question response which no doubt will include no direct answers.. please prove me wrong.

tcocaro, as Sunfish is not currently on, I'll put some figures to the bubble bubble.

2011/2012. Fall by 30%.
Due to reasons previously mentioned in other threads.

 

[Ausprop]

Really?? I missed that one

Gees how did you miss that? things don't seem a bit quieter around here?

http://www.somersoft.com/forums/showthread.php?t=66606&highlight=FREEDOM

I think we lost Dazz in that one, then WW and SF in this one:

http://www.somersoft.com/forums/showthread.php?p=731299#post731299

 

[tcocaro]

and when we trade houses for silver and gold ill care... till then i wont.

My prediction has already been stated in other threads, flat market -5 to +5% range, in nominal terms. I beleive markets lean more in the positive mark than negative for the next 12 months.

And whats your view? In nominal\real terms that is.. not in gold, silver, tulip bulbs or maca vouchers.

Housing has been crashing for years when priced in Silver/Gold, an asset/currency that Sunfish has advocated on this forum for sometime

As mentioned above Sunfish has moved onto greener pastures (at least for now), so you are unlikely to receive a direct reply.

I find it somewhat amusing that you want to extract a prediction, but don't appear to be providing one yourself to counter it... What sort of growth do you think we'll see in the next 12 months? 2 years? 5 years?

 

[tcocaro]

From today right? meaning if the property market as a whole rises say by 5% over the next 12 months it then needs to drop by 35% correct?

Good to see you put a prediction down, I say your off by about 25%-35%.

tcocaro, as Sunfish is not currently on, I'll put some figures to the bubble bubble.

2011/2012. Fall by 30%.
Due to reasons previously mentioned in other threads.