Melbourne Again

[Deltaberry]

So what if China doesn't have famous multinationals? I'd rather have something that's not famous but whose profits continue to sky rocket. Not much use being famous but going backwards like many Japanese multinationals.

 

[MTR]

Can someone pass please me the popcorn.

Btw Melbourne is going great guns, yay!

Btw jcwc888, why are you selling so many properties now, the boom is just beginning??

Hi JIT
lets get back to my favourite subject "Melbourne".

Can you give me an update or anyone on the ground there, I am in Perth but have been buying up in Melb. I am thinking the biggest boom is yet to come, mind you 34% increase in a couple of my purchases over last 12 months is not too bad.

Any thoughts anyone.

Also, is it time to look at buying off the plan stuff. I have never used this strategy, but when we had the big boom in Perth there was some very serious money made. Anyone using this strategy???

Cheers, MTR

 

[JIT]

cause if people offer you a ridiculous price for your property then of course you sell and put your money somewhere else!

Really... like where??

 

[jingo]

Can someone pass please me the popcorn.

Btw Melbourne is going great guns, yay!

Btw jcwc888, why are you selling so many properties now, the boom is just beginning??

Hi Jit,

Do you have the annual growth rate Melbourne achieved in 2009?

Regards Jason.

 

[JIT]

Hi Jit,

Do you have the annual growth rate Melbourne achieved in 2009?

Regards Jason.

I think there was a 17% median house price growth in Melbourne, with 19% growth for apartments...

http://www.theage.com.au/business/housing-prices-soar-17-to-record-20091231-lky9.html

 

[jcwc888]

Hi JIT
lets get back to my favourite subject "Melbourne".

Can you give me an update or anyone on the ground there, I am in Perth but have been buying up in Melb. I am thinking the biggest boom is yet to come, mind you 34% increase in a couple of my purchases over last 12 months is not too bad.

Any thoughts anyone.

Also, is it time to look at buying off the plan stuff. I have never used this strategy, but when we had the big boom in Perth there was some very serious money made. Anyone using this strategy???

Cheers, MTR

Depends which areas for off the plan?. If you're talking inner city - definitely no. They're too overpriced. A lot of them have gone backwards. I bought one off the plan (home land package) in wantirna south. it was alright but during the building process which took close to a year took a lot on the mortgage repayments during the high interest rates periods in 2007

 

[jcwc888]

Really... like where??

southbank, south melbourne, south yarra, (my current investments are in those areas which have done well so far). Can't give a comment abt other areas being i have no experience.

Currently like yourself looking to purchase 1 or 2 more. competition is tough though.

 

[MTR]

Hi jcwc888
Broadmeadows, only development sites with minimum 3 unit site. I don't believe the units in this area have performed as well as deve sites.

Coburg - 2 years ago.

Cheers, MTR

 

[jingo]

I think there was a 17% median house price growth in Melbourne, with 19% growth for apartments...

http://www.theage.com.au/business/housing-prices-soar-17-to-record-20091231-lky9.html

Thanks JIT,

That article was very informative. I note slower growth is expected for 2010 - I guess time will tell!!

Regards Jason.