I work in real estate in the inner north - Carlton, Fitzroy, Parkville etc and I don't think the market has run hard in the last 2 weeks at all. Even if it has picked up, which I don't think it has, it is off the back off extremely low stock levels.
The RBA says you're probably better off renting..
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I work in real estate in the inner north - Carlton, Fitzroy, Parkville etc and I don't think the market has run hard in the last 2 weeks at all. Even if it has picked up, which I don't think it has, it is off the back off extremely low stock levels.
Low stock levels in desirable properties (ie pre 1950s built). But newly built townhouses/apartments haven't run hard at all, because they remain second choices for most buyers and developers keep flooding market with more choices. As some here always say, market within markets within markets.
Thoughts on this one from yesterday?
http://www.realestate.com.au/property-house-vic-west+melbourne-117505355
Sold $963k. Quoted $700k-770k. I probably could've picked this up for $750-780k last year. There was one in a much more desirable location, much better renovated, same size, sold $791k in February 2014 (65 Capel St).
Deltaberry,maybe you should have posted this on post #180.
You left it open and your talking bluechip not as a whole.
And an after thought from:
From the horses mouth.
You left it open and your talking bluechip not as a whole.
And an after thought from:
From the horses mouth.
True mate. But real easy call with 20-20 hindsight. You don't get many CBA floats in your lifetime... which stock today would you borrow "new car price" (say $50K) ...and bet on ??.. LL
No no, it wasn?t 20-20 hindsight we did a degree in rocket science and grabbed the slide rule and come up with, if we had the same blind faith thousands upon thousands had in real estate, someone had to supply the kool -aid for party and profit from it the rest was easy.
And no we weren?t part of the float we would not have got the numbers we were after and thought it may well drop after the listing. There?s was quite a few other companies could have given a similar result, and that we could have bet on.
And we wouldn?t punt to far from them today; we are currently short CBA puts
Too hard to talk as a whole.
There's only so many places I can look at, and I don't really follow resi that closely anymore, but do like to look at that inner city and inner east area since I still have resi holdings there.
Fair enough,though your 2 week stamp otherwise,you can't go wrong on the inner radar.
Don't sell.
The equity and cashflow recieved can be used to fund other income producing enterprises.
The leverage for property to do this is superior to shares.
Not saying shares aren't worth the effort; just comparing apples with apples.
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