Just thought I'd update. Had this particular Terrace revalued. Came back today at $520,000.
How long was it between purchase and re-value? Was the lender happy to do this so quickly or did you need to justify it?
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Just thought I'd update. Had this particular Terrace revalued. Came back today at $520,000.
Well purchased Jingo...good move!
I have been monitoring property in Newport, Kingsville and Yarraville and I am seeing some substantial gains and high auction clearance rates. Most open houses I attend have 20 - 30 couples inspecting.
It is a growth suburb given its proximity to Williamstown and about 7km from the city.
Anthony
Its been almost 2 months since the last post on inner Melb, such a long time.......
Can anyone in Melb report back or have any further information.
From the information I have been accessing seems like North Melbourne keeps coming up as "under valued", do you think this is a fair comment?
Look forward to reading more posts on Melb.
Cheers All.
It seems the June quarter suburb by suburb values (from the REIV/Residex) are going to appear in this Saturdays Age, 29/7. Something to enjoy over your morning coffee and pancakes anyway
Should be interesting because according to Residex, Melbourne as a whole barely moved in the June quarter (from $401 to $402.5), yet anocdotally some areas seem to be hot.
I'm sure, as you say, time will make this a small price, but, not sure how long you will be waiting...
GSJ
Turns out I didn't even have to wait 12 months
This is the basement apartment. Mine is the same floor plan, on the top floor (3 floors above this one) and I have city views and a balcony.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=71174522&s=vic&snf=rbs&tm=1200265452
I spoke to the two senior Hocking Stuart agents at the open and they said they'll get $640k easy (this was long after I told them I only just bought mine and never plan on selling - so it's not a quote lie for my business). Will be interesting to see what it sells for.
Turns out I didn't even have to wait 12 months
This is the basement apartment. Mine is the same floor plan, on the top floor (3 floors above this one) and I have city views and a balcony.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=71174522&s=vic&snf=rbs&tm=1200265452
I spoke to the two senior Hocking Stuart agents at the open and they said they'll get $640k easy (this was long after I told them I only just bought mine and never plan on selling - so it's not a quote lie for my business). Will be interesting to see what it sells for.
Thanks. Personally I didn't expect the growth I had, I thought I just missed the mini boom or whatever it is we're going through now. I noticed your price index post, 9% in December is amazing!
The agents told me he is trying a private sale for a while and then taking it to auction mid February. Can't wait to call up my banker for a valuation based on this comparable sale - doesn't get much closer than that! I also wonder what the price premium is for ground floor versus top floor. Ground floor has easier access for the 'target market' in the area however his views are of the bins and the cars and mine are of the Yarra, Toorak and the city.
Turns out I didn't even have to wait 12 months
This is the basement apartment. Mine is the same floor plan, on the top floor (3 floors above this one) and I have city views and a balcony.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=71174522&s=vic&snf=rbs&tm=1200265452
I spoke to the two senior Hocking Stuart agents at the open and they said they'll get $640k easy (this was long after I told them I only just bought mine and never plan on selling - so it's not a quote lie for my business). Will be interesting to see what it sells for.
Congratulations David,
You have bought very well. So what seemed expensive a little while ago now seems like a very good buy!
Regards Jason.
and congrats to you Jason for buying in Altona Nth..!
A WHOPPING 40% increase in median from Dec 06... I remember you talking about all the tell tale signs of the market moving there however I would never have guessed that the growth would be so steep.
well done
Harris