Should I invest now?
- Thread starter Daine
- Start date
There's a few threads on this.
Usually Sydney is first and as you've probably noticed on the forums its in hysteria mode. Perth is basically at the boil, it takes a fair bit of skill to find profitable deals there now. Melbourne is next down from that I feel.
Adelaide and Brisbane are the next goers imho. Thats where I'm buying / looking.
Basically chase the wave all around the country, it's fun
Usually Sydney is first and as you've probably noticed on the forums its in hysteria mode. Perth is basically at the boil, it takes a fair bit of skill to find profitable deals there now. Melbourne is next down from that I feel.
Adelaide and Brisbane are the next goers imho. Thats where I'm buying / looking.
Basically chase the wave all around the country, it's fun
There's a few threads on this.
Usually Sydney is first and as you've probably noticed on the forums its in hysteria mode. Perth is basically at the boil, it takes a fair bit of skill to find profitable deals there now. Melbourne is next down from that I feel.
Adelaide and Brisbane are the next goers imho. Thats where I'm buying / looking.
Basically chase the wave all around the country, it's fun
Investment surfing!!
Not sure which market you are referring to but Cairns is at the bottom or start of recovery according to HTW. As you probably know employment is still weak but prices have increased slightly in the last year.
Cairns has historically been dependant on tourism so when times are bad ...
BTW , maintenance in the tropics can be very high and insurance with cyclones around ....
We looked but stuck with rocky and Townsville which have more diversified economies .
There is a BIG new resort being planned which has generated a lot of interest though I found the croc signs on creeks off putting , though we've had two shark attacks within Cooee of our port Stephens weekender .....
A member Chrispy , bought quite a few in the last cycle and did well. Check her posts.
Cliff
BTW , maintenance in the tropics can be very high and insurance with cyclones around ....
We looked but stuck with rocky and Townsville which have more diversified economies .
There is a BIG new resort being planned which has generated a lot of interest though I found the croc signs on creeks off putting , though we've had two shark attacks within Cooee of our port Stephens weekender .....
A member Chrispy , bought quite a few in the last cycle and did well. Check her posts.
Cliff
Welcome to the forum Daine, its good to be learning, keep reading, check this place out for a while, plus some good books (check the information resources section for lists of the best) time spent educating yourself now will yield fantastic financial rewards later. Leveraging other experienced investors is great too, just make sure you avoid people actually selling you property (like salespeople who want to sell you some new off the plan unit) they aren't working for you they work for the developer and you are the patsy. Getting advice on property from family and friends and the front page of the news can be really harmful to actually building wealth. Talk as much as you can to people who have actually bought, owned and profited from a few properties.
In terms of your original comment, NO - the market is not all overheated. Certain parts are overheated and others are just getting started.
It depends on your borrowing power and a few other things. Have you spoken to a good broker to find out how much you can borrow?
Everyone likes to pan OTP , BUT , like any purchase it comes down to the deal.
Our second best purchase in the last two years was an OTP in tenerifffe which is up around 18 % . Best one a house in Sydney .
Cliff
I've seen a big croc in a creek beside a new development in Townsville - no signs, is that better or worse?
I've seen a big croc in a creek beside a new development in Townsville - no signs, is that better or worse?
Maybe they can make it part of the new resort , an adventure resort ..
Cliff
Yeah, have an up close and personal encounter, maybe even feed it...
Funny thing was, there were only a couple of houses finished at the time and not many fences, I'm sure a couple of the kids had splashed in that creek before. She was cranky and nesting when we saw her.
Sure it depends on type of property, location etc etc.
My feeling though is that you are cutting it too close with 25k. Downpayment aside, there are all other expenses you have to cater for [ assuming 25k is all you have for this] such as govt fees, and also any unforseen expenses that might come about once you buy the property, not to mention body corp fees if applicable, solicitor fees, insurance fees etc...list can get long.
Id be more comfortable with 40k...maybe just save a bit longer and try when you are in a stronger position financially.
interst to the poster mentioning perth coming into the boil.. just looking at land sales in the south eastern corridor, wiht the view for a stage 1 entry to get in a little cheaper...
Ideally i agree, economy is not great... the only pressure about land sales is its scarcity... you can wait for it to go down but if the estate is sold already... no one will sell it to you there.. then again I gues there's always one mug who will get out to cut losses...
hmm maybe I shouldn't sign that dotted line this weekend! haha.
Ideally i agree, economy is not great... the only pressure about land sales is its scarcity... you can wait for it to go down but if the estate is sold already... no one will sell it to you there.. then again I gues there's always one mug who will get out to cut losses...
hmm maybe I shouldn't sign that dotted line this weekend! haha.
