Hi, I don't know a lot about Melbourne & am not unhappy that I didn't proceed with a purchase [pulled out on the standard subject to finance]
I'm pretty sure that particular property in Cranbourne in 2010 wouldn't have lost money, might have a small gain [do up, sub-divide type]
But my sister's apartment in Little Collins St is going great guns. She bought it I think in 07 [not sure] at 392K. The rent was 450 pw.
It's now 700 rent & one apt below her [same size] sold for high 600K
If it's not a boom, it's quite close.
A friend put in an offer of $2M [cheeky] on a house, was accepted, scrabbled around for funding & bought it in the height of the GFC 08, 09?
Wonder how that purchase turned out?
KY
I'm pretty sure that particular property in Cranbourne in 2010 wouldn't have lost money, might have a small gain [do up, sub-divide type]
But my sister's apartment in Little Collins St is going great guns. She bought it I think in 07 [not sure] at 392K. The rent was 450 pw.
It's now 700 rent & one apt below her [same size] sold for high 600K
If it's not a boom, it's quite close.
A friend put in an offer of $2M [cheeky] on a house, was accepted, scrabbled around for funding & bought it in the height of the GFC 08, 09?
Wonder how that purchase turned out?
KY