Hi guys,
Am a newy so please take it easy
I want to get some insight from you as to why it is that whilst most of Australia's capital cities have enjoyed a return to higher property prices for their investors Seachange suburbs like Nelsons Bay, NSW still lag well behind.
Am I right in suggesting that these properties are often purchased by corporate high fliers as holiday homes and when times get tough these are often the first things to go...thus leading to a high amount of stock in the market with more stock than demand?
I purchased one such property in 05 and have seen a steady decline in its price ever since, with things having picked up again in the capital cities does anyone have any inclination as to how far behind Sea change suburbs like Nelsons Bay are behind in their market recovery?
Am thinking of taking a hair cut and reinvesting my money in something with a better rental return and capital growth outlook or am I jumping before the horse is ready to bolt?
Am a newy so please take it easy
I want to get some insight from you as to why it is that whilst most of Australia's capital cities have enjoyed a return to higher property prices for their investors Seachange suburbs like Nelsons Bay, NSW still lag well behind.
Am I right in suggesting that these properties are often purchased by corporate high fliers as holiday homes and when times get tough these are often the first things to go...thus leading to a high amount of stock in the market with more stock than demand?
I purchased one such property in 05 and have seen a steady decline in its price ever since, with things having picked up again in the capital cities does anyone have any inclination as to how far behind Sea change suburbs like Nelsons Bay are behind in their market recovery?
Am thinking of taking a hair cut and reinvesting my money in something with a better rental return and capital growth outlook or am I jumping before the horse is ready to bolt?