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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.
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.
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
I predict 2770 will hit 500 and then drop to about 420
The boom in Melb is probably only inner-city and the normal higher demand suburbs I'd say.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".
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.
http://www.reiv.com.au/Property-Research/Median-PricesI better choose my battles wisely
http://www.reiv.com.au/Property-Research/Median-Prices
11.7% inner melb growth
13.2%. Middle melb growth
8.9% outer melb growth
Interestingly bay views own suburb of dromana grew by over 10% in the last quarter alone so it should have passed the old out of window test
You missed it, 4 years ago.