VIC Docklands

Thank you Melbournian. That explains it.

 

The Melbourne Airbnbs making their hosts tens of thousands of dollars a year

Melbourne Airbnb hosts are making up to $150,000 each year on the platform, with hosts in the suburbs pocketing up to $42,000 a year just by listing a spare bedroom.

Figures released this week continue to paint an expanding and lucrative picture of Airbnb for Melbourne property owners, following fears some apartment owners were shunning the private rental market for the fatter profit margins on the site.

 

Not rising = depreciating... in my opinion lol. My cousin owns a 3 bedder in the promenade, bought it 1.5m 12 year ago, and i think it's still the same. It's nice living though.... getting more and more amenities. At least it's actually pretty good for family living, she could walk down along the promenade with a stroller etc.

But then again, imagine if she bought somewhere else in the suburb with 1.5m at that time....

 

1.5 Milion is a bit exp to pay for a 3 bedder unless it is a penthouse

You can buy places in southbank much cheaper (whiteman st) 3 bedders would be around the 800-900K mark (large sized 120sqm). Or you could go to the St Kilda Rd end to purchase those old townhouses for 1.2 mil.

Still my docklands fav (80 Siddeley st), if a good deal comes up I would buy it without hesitation. You cannot replace the location for rental and views.

 

It's not a penthouse, about 20+ floors, with double parking. Yeah i prefer dockland more than southbank. Don't know, i just hate that messy intersection of Kings way and west gate... So many times i knew i was on the right lane but next sec is i realised i was on west gate lol.

 

Your cousin got ripped as 1.5 million 12 years ago could have bought 5 X 2 bedrooms and rented them out retired then.

Southbank easy access to the CBD and airport, also if you stay on the whiteman Side it is like only a street away from docklands. Kingsway that part if already south Melbourne.

 

That must hurt. $1.5m in 2005 is Toorak money.

Melbourne median in 2005 was 360k for houses so 4x median back then. Now median is something like 850k? x4 = 3.4m. Ouch.

Maybe you meant 2015 not 2005?

 

I think it's around 2007, 2008. It was OTP... so prob 10, 11 years i guess. They are okay with it. They owned two actually, sold one last year the same price 1.5, and kept the other one as PPOR. It's funny i know, they have the cash but they just not into buying land in the suburbs. Oh well...

 

Fair enough. Would definitely keep me up at night if I made that decision.

 

Also remember that the scale of the oversupply problem wasn't evident - or existent - back then. So scarce CBD apartments would have been a different proposition.

 

https://www.3aw.com.au/major-retailer-to-close-docklands-store-in-huge-blow-to-precinct/

A major blow to docklands future? Or a minor blip?
If costco is complaining, it must be seriojlus