Any Melbourne defectors out there?

I have been in Sydney for the last 12 months, originally from Melbourne. Love the place, even had an offer on a place in Melbourne.

My heart is breaking for our family and friends, many are business owners.

I don't like what I am seeing and now looking at purchasing in Sydney.

 

Overreaction of the highest order!

So investors will be ditching their Melb investments, paying CGT and selling costs, then paying SD and other buying costs to buy interstate and by that time, let's say, Melbourne's new infection rates are below 10/ day (going by the current trajectory, it will be around that in a couple of months) and say Sydney has a resurgence to 50 per day, what would happen then? Sell down in Sydney and then buy into Alice Springs?

Melbourne's investment proposition is simply more than a 'slip up' (although of a significant magnitude) causing a spike in infections! It can/ will happen potentially in other states/ cities as second waves hit (as they have in multiple European and Asian cities).

Let's not forget Melbourne was the most-liveable-city for 6 out of 10 odd years out of 150 odd cities globally! It is the cultural, architectural, sporting and foodie capital of Australia and it's future is not reliant on a security-guard or 2 not doing the right thing.

Immigration will return, Daniel Andrews is getting a slap-down (well deserved) for his capitain's call on extending emergency and likely his career is over, new vaccine/s will change the sentiment and Melbourne will survive!

 

Nothings permanent, but I have no intentions of going back to live at this stage. I was from Sydney originally and planned on coming back so I didn't leave because of the Corona virus situation, but that sped it up a bit.

 

Its hard to put a positive spin at the moment on Melb when you can see the writing on the wall.

The so called slip up will and has massively impacted on Victorian economy, which in turn will impact of property markets/values

I am not suggesting anyone should sell, however if there is fat on the table it may not be such a bad idea.

Buy in Alice Springs? This would be like asking investors to buy in mining towns, makes no sense

 

Our son lives in Melbourne with no intention of moving.

His business took an initial hit and he qualified for job keeper, but he reinvented his working to go from constant interstate and international travel to totally running things from his study at home. Luckily he has an employee in NSW and another in Qld so most bases covered. Also contractors as required.

Won’t qualify for the next round of jobkeeper, which is a good thing.

 

Really glad to hear this

 

The rich are leaving Victoria..

Melbourne magnate sails away from face masks and lockdown
https://www.theage.com.au/national/...-face-masks-and-lockdown-20200824-p55otv.html




Truckie escape: Linfox heir exempt from Queensland ban on Victorians
https://www.theage.com.au/national/...nsland-ban-on-victorians-20200813-p55lfq.html

 

We should have built a wall

 

Do you think this also creates opportunity in Melbourne for new investors?

I was looking at an IP in Pasco Vale, Coburg etc. pre-covid.

With my (sydney based) income not taking any hit, increased savings from holding off, and capital falls already in the area - I can now afford Northcote, Brunswick, Essendon, Thornbury - which were probably off the table before from a cost perspective. Understanding that rents will have fallen in all these areas as well.

My partner and I are trading off still the idea of a Sydney PPOR or a Melb IP. With Sydney prices not really falling to the same extent, the idea of being able to buy into desirable inner city suburbs in Melbourne now may (or may not) represent a great long term investment opportunity for us, which we thought was off the table.

 

...and his dignity

What is seen cannot be unseen!

 

Both markets have had considerable growth since 2013. I think there is absolutely no rush, its time to sit and watch the fall out when government benefits come to an end?

Patience is very handy in these uncertain times

Its time to protect your capital.

just my thoughts

 

Didn’t work.

Everyone on the yacht now ordered into government hotel quarantine after lying on their entry paperwork.

 

Perhaps, but when I spoke to friends and family in March-April. All in this bucket as you mentioned about, half glass full types, very successful and always find positives in all situations.

Now

Their spirit is broken, I try to talk to them on the phone and just really hard to get them going.

I do fear for Melbourne and their mental health. The city has to OPEN up in some sense before Christmas. If there is no momentum leading up, no AFL GF, no spring carnival, no Australian Open, no GP.

It could get really dire.

 

What makes their lies so special or different? If they lied on their paperwork should they not be arrested and in prison, treated the same way as the 3 girls who returned to QLD via Sydney from Melbourne a few weeks back? To treat these rich white people differently does smack of elitism and inherent racism.

 

Above is from the article

Joining the dots something not right has happened but I'm not sure how that can be spun on a technicality. The guy is an executive director of the ASX listed Simonds Group hence describing himself as a driver in order to bypass the mandatory laws in place is lies..though he and his ilk will try to do spin it otherwise.

Those girls probably said they arrived from Sydney - omitting the Melbourne part. Technically they were correct as well. If there are to be rules where vast swathes of the population are being stressed, physically, mentally and financially then the rules need to be applied fairly. We are either all in it together or aren't.

 

They stated that the 7 people aboard were crew.
Also said they had been at sea for the whole time, not going ashore at various ports in NSW.
Not exactly honest, is it!

 

https://www.realestate.com.au/sold/property-unit-vic-rye-132684990

Could have got this for under 440K pre-covid as it was available since late last year. Clearly some markets are making gains this year with lockdown dirty Melbourne. Spoke to a few agents and there is a lack of stock with high demand in the Mornington peninsula,