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Blue chip suburbs melbourne

Discussion in 'Property Market Economics' started by TMNT, 12th Mar, 2016.

  1. TMNT

    TMNT Well-Known Member

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    Location:
    Melbourne
    So a friend of mine asked me on my opinion of a ppor in port melb in vic. Budget about 2m. Free standing home

    The question about timing.
    Would you recommend they wait another 6 to 8 months to see if the market flattens or cools down

    Me thinks timing wise now is the worst . The hottest it can be. And either a cooling judt around a corner or little growth
     
  2. Barny

    Barny Well-Known Member

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    Location:
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    I agree with your thoughts. But this cheap availability of credit may continue to push prices up. I see Melbourne to continue strong this year, I feel next year prices will back right off
     
  3. JDP1

    JDP1 Well-Known Member

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    Agreed. Id say melb is near its peak ans some at its peak.
    I could be wronh but i dont hear of lots of foreign investment $ coming into mel like they did 2-3 years back. I mean both personal and and corporate $. Perhaps more in the commercial real estate.
     
  4. TMNT

    TMNT Well-Known Member

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    Location:
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    Thats the tough part
    Since its a ppor
    It shouldnt matter what they pay

    However if they pay 2m for it now and you can buy it for 1.85 in 6 months the best for them to wait as they are moving dollars to get the deposit together