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Australian Property Market - Is it a good time to Buy?
- Thread starter LeMans2011
- Start date
Come and join me in keysborough!
http://www.somerfield.com.au/
Just kidding.. Now seems like a pretty good time as interest rates are quite low (lowest I think? since I first came over in 2001). Reckon they're unlikely to lower more.
Thanks for your recommendation! Is that a new residential area? Looks nice and affordable.
I see that you basically need to get into Eastlink then MOnash Freeway to get to city... does the toll costs much?
Always get the local perspective when buying a house or investing – not from your aunties or uncles or fellow countrymen with HDB mentality. Coz at the end of the day, you will be selling to Australians !
The locals :
a) Do not like to pay body corporate. Additional cost to the house owners or investors. Unlike Sg, body corporate rules in Australia are extremely difficult to comply i.e. Neighbours party all weekends, pets, car parking issues & peeing in lift etc.
b) Always conduct a Council search before buying property in Brisbane. Flooding zone will have to pay 3 - 5 times insurance rate & higher council rates.
c) Prefer a house. There is a big different between a house (SG term : Bungalow), Townhouse (SG Term : Semi-D or Terrace), Units & Apt (SG term : Cluster Condo or HDBs). A House will have a full ownership whereas the rest not.
d) Some HDB countrymen prefer to buy a medium/ low social economic area, in a cluster housing and place a security guards or install full windows grilles and assuming it is safe. Well, it is not.
Hey, I can meet you up for retirement in 10yrs time
Thanks a lot! My personal preferance is Gold Coast but i hear a lot about floods... hence the tip on council search is useful.
I definitely want a house with ample land... coming from Sinkieland i am land-deprived and land-obssessed.
I don't need a central location, i am happy to be 30-45 minutes away from city centre since my aim is retirement.
I am still in the learning process and have been googling about "Best suburbs around Melbourne", "Best suburbs around Sydney" and "Best suburbs in Gold Coast".
My observation is (yes i know this is stating the obvious) the "upper class suburbs" at Gold Coast tend to have high body corporate. Does body corporate fees apply to only gated housing?
At the moment i am thinking about Hope Island/Sanctuary Cove area... they do have affordable houses. These are FIRB approved zones hence you might pay a bit more but have the benefit of international market.
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Why would that happen in a country with abundant land?
Aus has abundant land.. but everyone wants to stay close to the city.. so the metropolitian boundary is getting bigger every year. Houses in inner suburbs are getting converted to Townhouses (Where they sub divide the land among the different units) and apartments.. so many new apartments sprouting out around Monash Uni at clayton.
I am loving it here.. very nice, peaceful and quiet with the occassional dusty roads when you drive out of the estate as they are still developing the surrounding former farmland/plant nursery to new estates (i.e. part of somerfield).
Don't need to get to Eastlink.. take the dandenong bypass, onto westall road, princes highway to city (40 mins in non-peak hours). If you wanna head by M1 or Monash Freeway, then after turning onto princes, turn to blackburn road to get to the Monash Freeway..
I don't work in the city so don't need to use the Monash Freeway. I only use the Monash Freeway and pay the toll when I need to get to the airport.. We are unlucky, unlike those in the Northern and Western suburbs.. can avoid toll to get to the airport..
I am just comparing to countries where property boom is fuelled by immigrants, whereas the Aussie govt appears more genuine in curbing runaway asset prices. I read that the Aussies themselves feel Australian properties are among the most overpriced compared to other western nations. But yes, in the long term property prices should trend upwards since Oz is still one of the most desirable place to live. Also for a house 45 mins away from city, 10000 sft land, 3000 sft built up - at 1m to 1.5m it appears quite reasonable to me.
Hey any tips for perth properties?
Dude, most ppl do not understand Australia.
Generally, Sinkies are extremely compliant in nature (Kudos to our honourable PAP), hence, they have no problems in paying or obeying the Body Corporate rules.
Don’t forget : This country was once the land of convicts, now a land of Freedom of Speech and Freedom of Choice. Do not expect everyone to comply ! If dispute happens, Body Corporate (BC) may take individual to Court, if BC loses the game, BC has to compensate.. there goes the sinking fund !
Oh, also refer to the World Anti-corruption Countries Listing.. SG is in top 3-5 in the world.. whereas, Australia is top 20… This means whoever is the Chairperson will engage their wife to do accounting & auditing, relatives for gardening and cleaning etc.. similar to Lau Lee Empire.. again, residents will pay & pay.. hehe..
In the end, it is better to own your own bungalow upright – land title instead of Strata Title.. lesser problems with other neighbours. My 2 cents contribution is often ignored by HDB dwellers, this is why I am way up above, and they are still struggling to make a decent gain. hehe
Generally, Sinkies are extremely compliant in nature (Kudos to our honourable PAP), hence, they have no problems in paying or obeying the Body Corporate rules.
Don’t forget : This country was once the land of convicts, now a land of Freedom of Speech and Freedom of Choice. Do not expect everyone to comply ! If dispute happens, Body Corporate (BC) may take individual to Court, if BC loses the game, BC has to compensate.. there goes the sinking fund !
Oh, also refer to the World Anti-corruption Countries Listing.. SG is in top 3-5 in the world.. whereas, Australia is top 20… This means whoever is the Chairperson will engage their wife to do accounting & auditing, relatives for gardening and cleaning etc.. similar to Lau Lee Empire.. again, residents will pay & pay.. hehe..
In the end, it is better to own your own bungalow upright – land title instead of Strata Title.. lesser problems with other neighbours. My 2 cents contribution is often ignored by HDB dwellers, this is why I am way up above, and they are still struggling to make a decent gain. hehe
Perth ? Standby for another 30-50yrs of growth !!
Hotels are very good investment - no new supply of Hotels for the last 10yrs !! Also limited brothel activities for the businessmen and the mining labourers.
No other tips available.. Just hamtam any properties blindly & collect yearly yield.
Finally wait for the escalated price and profit for your retirement !
Happy investment !
Hotels are very good investment - no new supply of Hotels for the last 10yrs !! Also limited brothel activities for the businessmen and the mining labourers.
No other tips available.. Just hamtam any properties blindly & collect yearly yield.
Finally wait for the escalated price and profit for your retirement !
Happy investment !
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True, but like some other bro pointed out, some people don't want live X km from the city. In fact, anything above 30min drive to city is considered far. What they don't understand is that eventually people will move out of their 30min comfort zone because there is just not enough land/apartments to be affordeable in that area. Hence the price increase when that happen. Compound this with the fact that new housing development are at all time low now, you get a relative housing shortage. Rental price goes up and in a few times, the "cheap" out of suburb places will be 1mil.
Bro, agree totally. I think 1hr away is not too bad.
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Yes, either that, or those 1mil houses price crash, would effect me as well, but at least I have a lower mortgage that I can afford. So win-win. At the end of the day, you need a place to stay, renting or paying the banks mortgage are the same, but at least with a lower mortgage you get to have a house at the end. Sydney house prices have reach the point where renting and mortagages are the same now.
Melbourne is a little weird. Sub 600k dropped whereas above 1m houses rise.. And it seems to be growing again.
Aiyo, any pro chicken here is capable of sayang sayang lah. Otherwise how to win back customers? Happy ending always ! Ha !
Yes but not as much as before. Problem with Sydney, too many above 600K property.
Tat is y the golden rule is dont buy units or anything with body corporate. Buy landed house. Its bad enough dealing with council rates n all tat shit. still want to put up with bc? Also property with bc have less value than non bc due to higher operating expenses. Look at perth market. Units etc r cheaper than houses n appreciation is slower too.
Bro, you can't change the behaviour of the HDB mentality. They assumed everyone live in HDB, hence it is not a problem to live in or around the public commission housing. Lol. This why there's top 20% and bottom 80%. I call it the circle of "poor". Poor mentality, poor judgement, poor vision etc.. Trying get out of the circle of poor, they have to understand the rich or local perspectives..
One thing to take note in melbourne (Not sure about rest of the states),
Land in new estates cannot be subdivided into townhouses/units anymore unless the ruling changes in the future. Older lands are still able to be subdivided. So if you are thinking of buying a land/property with the option of subdividing it into the future, better check your Section 32 first
Land in new estates cannot be subdivided into townhouses/units anymore unless the ruling changes in the future. Older lands are still able to be subdivided. So if you are thinking of buying a land/property with the option of subdividing it into the future, better check your Section 32 first
