Is Mebourne Booming????

Hi Kenneth

There is alot of people here with seemingly endless supplies of cash, maybe the share market or bonuses or something - i dont know. This is however, 90% owner occ purchases so there is not much spec. just people wanting family homes
pieman
 
HI All,

I have post few question to seek some advice to buy my first IP so thanks guys helping me out.

I do believe that in strategic locations we will see growth something like this
FY cg
2007 15-30%
2008 10-15%
2009 5-10%
2010 5%
2011 4-5%
2012 4-5%
Click to expand...

With the above i think it's a best time to invest something in South East area?

What are the strategic locations ?
 
NOTOOL8 said:
An interesting article by Ben Schneiders and Chantal Rumble of the age and reproduced by Domain.com regarding pre auction price quotes. Below is an extract of a quote by Enzo Raimondo, head of the Real Estate Institute of Victoria.

Mr Raimondo said it was "very simplistic and not correct" just to compare the advertised and final sale prices. Agents argue that the difference between the quote and sale prices is the result of a rapidly moving market. "We have unprecedented demand in certain pockets of Melbourne," Mr Raimondo said.

But the REIV's data shows that prices — for auctions and private sales — in the first three months of the year fell across all price segments. In the top 15 per cent of the market, the median price dipped 3 per cent, while for the top 5 per cent, prices dropped 4.3 per cent.

My question:- Is Melbourne in the wake-up phase or are some trying to talk it up??

Input please.

Cheers Chrisv.
Click to expand...

Two things to remember about real estate quotes in newspapers by real estate people;
1. newspapers make HUGE amounts of money from real estate advertising. Bad market, no sellers, no buyers = no ads = no money.
2. real estate agents only make money when they sell properties. If the market is bad they have no sellers, no buyers, no ads to make money out of = they make no money.

You won't hear about a bad market for very long out of these two "vested interest" parties.
 
L.AAussie said:
Two things to remember about real estate quotes in newspapers by real estate people;
1. newspapers make HUGE amounts of money from real estate advertising. Bad market, no sellers, no buyers = no ads = no money.
2. real estate agents only make money when they sell properties. If the market is bad they have no sellers, no buyers, no ads to make money out of = they make no money.

You won't hear about a bad market for very long out of these two "vested interest" parties.
Click to expand...

LAAussie, do you think Melbourne is still in a slump and talk of increasing prices in Melbourne is just talk?
 
LAAussie..The media and REAS are probably "guilty as charged" in this area. But the banks tend to be more balanced and analytical ( ..hmm..did I really say that :confused: ) You may like to take a read of the ANZ April Property Snapshot. Give or take 12 months or so it seems to me Melbourne is just about where we were 10 years ago... heck , even the property shows are back on the tv ..what stronger indicator is there ??;)

LL
 
David,
Today's super-sized mortgage is tomorrow's prized investment. The more you have to "fight" for them , the more the capital gain.

LL
 
Is Melbourne Booming.

I dont know about other parts of Melbourne, but the Aspendale, Mordialloc, Edithvale areas have gone up 10% over the last 3 months.

Bloody ridiculuous.
 
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