Speachless!

I'm not at all surprised by the amount of interest. What floored me was the price! Especially as it wasn't a 'nice' property. Very rough around the edges! Another that we looked at went for $468k. It was a lot nicer.

Colyton is up to $450-500k too. Any chance you can link me to the one you are talking about?
 
will they stay at these prices or will there be a correction or long period of stagnation

well done to the people who purchased in 2011
 
The Druitt does seem different these days. I was just driving into the Tregear shops carpark last night to get something from the IGA and I said to myself something is odd here.

I noticed a very late model black Merc SUV and a late model BMW in the carpark. The value of these cars would have been more than double the collective value of the 30 other cars parked there. Very strange.
 
The Druitt does seem different these days. I was just driving into the Tregear shops carpark last night to get something from the IGA and I said to myself something is odd here.

I noticed a very late model black Merc SUV and a late model BMW in the carpark. The value of these cars would have been more than double the collective value of the 30 other cars parked there. Very strange.

They were probably investors checking out their portfolio .

Cliff
 
will they stay at these prices or will there be a correction or long period of stagnation

well done to the people who purchased in 2011

Historically 2770 comes down significantly .

Two booms ago , got up to around 120 , came down to around 60-70 .
Last boom 240 , came down to around 160-170 .
Current boom time will tell .

Cliff
 
Yep.....as I said the back slapping can end in tears....

Historically 2770 comes down significantly .

Two booms ago , got up to around 120 , came down to around 60-70 .
Last boom 240 , came down to around 160-170 .
Current boom time will tell .

Cliff
 
that is unbelievable price. what do you think the price will be if the house is moved to Blacktown? say 3 bedder, 600m2 land, decent condition, $600k?
 
I predict 2770 will hit 500 and then drop to about 420.

It's a different ball game now. A lot of houso has been sold off. People who wouldn't dream of living in this area a few years ago now do. A few years back I asked a work mate if he'd like to rent my place.

His reply at the time was "Mt Sheethole, you got to be kidding". I am now his landlord lol.
 
Are you kidding me??? Where have you been the last 2.5 years?
The boom in Melb is probably only inner-city and the normal higher demand suburbs I'd say.

Outside of that fishbowl...moderate to low growth in the wider "Melbourne".
 
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The "good news" is that interest rates did NOT go down this week... we may have got that top (of the cycle) too early IMO.
If we do get 2 more drops this year, then we should get more growth.
David
 
The boom in Melb is probably only inner-city and the normal higher demand suburbs I'd say.

Outside of that fishbowl...moderate to low growth in the wider "Melbourne".

Yeah, nah. You're just having a guess. It's more wide spread than that.
 
Have anyone considered that the price will drop further if renters or owners couldnt pay off the loan?

The very reason ppl buy and rent there is they are low earning incomers....

do you think is likely that there will in future a mass mortgagee sale?
 
Yeah, nah. You're just having a guess. It's more wide spread than that.

I'll have you know that BayView has been on this planet 50 odd years. there are no needs for real life examples or verifiable stats, he has looked out of his window and determined no gains so pls don't argue with that. :D
 
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I'll have you know that BayView has been on this planet 50 odd years. there are no needs for real life examples or verifiable stats, he has looked out of his window and determined no gains so pls don't argue with that. :D

I better choose my battles wisely :D
 
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