Investing in Blue Chip Areas pays dividends in Troubled Times

[Wise1InOz]

if it's the one I'm thinking of- near Harcourt- reserve was 1.4M- google the address.

Yep, that's the one. So the agent was quoting $1.1-1.2 when their reserve was 1.4

 

[units4me]

Could somebody please whip out a calculator and show me how this unit would be a good investment to the next buyer? Espescially given the likely stagnant/negative growth years ahead.

 

[Wise1InOz]

Could somebody please whip out a calculator and show me how this unit would be a good investment to the next buyer? Espescially given the likely stagnant/negative growth years ahead.

Especially given the fact that there are 3 vacant plots of land less than 350m away, comparable court/cul de sac location with an asking price (negotiable) over 40% lower than what this one sold for yesterday. $700,000 more for the canopy of trees perhaps? No thank you

 

[Aaron_C]

There has to be a reason why they paid what they did - no one competes at auctions and pays premiums for rubbish properties esp in Hawthorn East

 

[pieman]

Went to 3 auctions on the WE, zero bidders but mysteriously the houses have sold since.
That seems to be the way atm, either the vender is conditioned to his/her new property price and caves in or/and everyone just hangs back to see if someone will get in there first.

 

[ldriver]

Especially given the fact that there are 3 vacant plots of land less than 350m away, comparable court/cul de sac location with an asking price (negotiable) over 40% lower than what this one sold for yesterday. $700,000 more for the canopy of trees perhaps? No thank you

If you're talking about the subdivision off Barkers Road, I don't think they're exactly the same in terms of "snob" value due to location, type of property that is likely to be built (the neighbours) and orientation- Barkers Rd isn't the same as the Harcourt Estate.

 

[Wise1InOz]

If you're talking about the subdivision off Barkers Road, I don't think they're exactly the same in terms of "snob" value due to location, type of property that is likely to be built (the neighbours) and orientation- Barkers Rd isn't the same as the Harcourt Estate.

On Higham St....

 

[Wise1InOz]

If you're talking about the subdivision off Barkers Road, I don't think they're exactly the same in terms of "snob" value due to location, type of property that is likely to be built (the neighbours) and orientation- Barkers Rd isn't the same as the Harcourt Estate.

Also, how about 33 Harcourt St - 800m2 sold this Aug for 1.98M - $2500 per m2