Any Melbourne defectors out there?

Looks good, but do you feel lucky

 

don't quite get it, lucky we didn't buy? wanted something a little bigger

 

Meaning, are you gambling??? With Melb economy and continued shut downs and job losses??? Its very early days

I think protecting capital is far important atm

its just my opinion, and I could be wrong

 

And of course with a great tax advisor you can have the option of 6 year absence rule or choice of main residence exemptions.

Regional Vic property could be going to boom given the Melbourne debacle!

Well played sir.

 

Yep. Gone for good - for work and housing affordability reasons. Could never imagine moving back.

 

Heavily invested in Melbournes west.

Processing Euro passports for the wife and three kids.

Spending a year or so abroad more for the kids life experience. However totalitarian government of late has made the decision easier to make.

 

We are now 90% in the camp of buying OO in Sydney vs an investment property and future OO in Melbourne. Start of the year it was 85% buying in Melbourne.

Love Melbourne and family, but love the weather, industry, and lifestyle in Sydney.

As others have mentioned, I am very concerned about the Melbourne state government.

Certainly watching from afar and will not be putting money into Victoria, just yet.

 

Melbourne is experiencing a cold Covid shower. Once the dust settles it will be important to take note of who exactly made the move(or didn’t).
I have a family member who works for a bank as a premier banker. I have been getting updates every couple of days of another client preparing to make the move.
Just like new York and San Fran when the wrong people start leaving you quickly realize just who you need and how much you need them. Highlights how these places were made as great as they are/were.

As other posters have noted, there were moves we were planning on making in a few years from now but current events have sped up the process.

 

Just a question for everyone have you seen any ASX listed company move their headquarters away from Melbourne?

The pain in Melbourne is going to be shared Australia wide as once companies start cutting back due to massive drops in profit they are going to cut back Australia wide not just from Melbourne (especially after job keeper wraps up). If anything this last outbreak from Melbourne has proven businesses can run leaner because they have to and COVID is the perfect storm that allows owners to restructure business (not goof for employees)

 

I fully relocated to Melbourne end of June renting my Brisbane property to family, did 4 weeks down there and came back as lock down kicked in. 2 weeks in a hotel but at least it’s free to roam up here

All my stuff is down there so will go back soon, it’s just a matter of when as Mr Andrews is really screwing the place and seems to be doing as he pleases and not listening to experts

 

Just saying ASX as don't want people to say their Uncles business HQ has moved to Brisbane due to second wave in Melbourne. No ASX company during reporting season has mentioned anything like this from what I have read

Melbourne's demise relative to other cities I think has been overstated. Look at the rich list and the up and companies on the rise (Afterpay, Zip, Kogan, Airtasker, Pro-medicus, Canva,Wisetech, Envato) are mainly head quartered and have founders coming from Sydney 1st and Melbourne 2nd.

I can see Sydney making small gains over Melbourne out of this but for all those buying in regionals and other cities outside Melbourne and Sydney I think the top paying jobs (Talking top bracket jobs outside of mining) will still be found in Sydney and Melbourne

 

With the greatest respect to all posters I think this is a bit of an exaggeration. Melbourne, and Victoria as a whole, will recover. How long that takes I'm not too sure but I'm confident we will get through this.

 

I am glad you are optimistic about this, but the virus comes back. No guarantees where and when

 

This makes zero sense. All Sydney or Brisbane or anyone needs are a few loose canons and they're all in the same boat as Melbourne. Why would you escape one city and all the trouble it entails if the odds of it happening elsewhere are either identical, or only lower by the smallest possible margin?

That being said, a lot of investing and life choices in general are not rational, so maybe this will push a lot of people out. Who knows.

 

One name, Daniel Andrews. Not that Brisbane's premier is any better.

I totally agree with you and of course this will all pass, things will go back to normality some what. Humans have short memories and are often reactive.

I am surprised though id say 90% of the people I spoke to in the first 4 weeks of relocating thought I was mad for moving from Brisbane to Melbourne. Not because of Covid but more because of lifestyle, weather, and the fast rat race feel that Melbourne was quickly becoming. Many like that of course but I think more and more people are figuring out the sun, relaxed lifestyle, and substantial housing you can get for less $$ takes the cake over a slightly better coffee and restaurants

 

I remember during the bush fires a friend's wife was ******** on Morrison and I said during the time in a few months she'll have forgotten what she was even upset about.

I was right. She's moved onto complaining about a completely different set of things now lol

 

All you need are a few strays and it's the same everywhere else. It's a virus that only requires a few to get things started again. If you're renting and have no kids sure what's the big deal. But if you're having to sell and buy in another city it assumes the other cities have a much lower chance of being hit by a second wave. That's not a gamble I would be willing to make for all the trouble it would take to sell / buy and relocate the kids, find new schools etc.

The premier though yes I can see that. But it also assumes the others are that much more competent. I would disagree with that.

 

You also have option if you own home in Melb to rent it out. Would never sell until certain its suits