VIC For those Active in the Melbourne market....Is Melbourne cooling ?

What is seq?
I think I got better chance winning the lotto than the day the Chinese stop buying in Balwyn and glen waverley

 

seq = south east queensland lol

 

Yup...plenty of articles and reports on this...i agee, miles behind gw etc...but seq has gone from 0 to 50 on their radar in about a years time. Gw etc maybe cruising at 100 on the chinese radar- but i dont think you will see the outrageous buying of the past nor do i think you will quite see the consistently and equally outrageous volume of of chinese buyers for anything less that a mil to 1.5 mil. The prestige in gw (2 mil plus) etc yes...will continue to be dominated by chinese

 

In my opinion being in the auctions I think the competition for the less than 1 mil to 1.5 mil is on 150 radar wise due to affordability reasons. This is unrelated to Chinese as it not only happens in gw but other suburbs like camberwell, Armadale, Malvern, Canterbury etc

 

The commercial ones in GW is 300 on the radar lol.

 

less than 500meters to the GWS zone and BHS zone is 600 on the radar as well

 

and box hill...I heard the official language there is mandarin, then followed by Cantonese, then...maybe English

 

Lol are we changing this thread to 'hype Gw, box hill, balwyn'

 

Nah - box hill is not like springvale or footscray where english is hardly spoken. People speak english in banks, shops etc. Maybe in the hotpot places mandarin is spoken. Cantonese is more widely spoke in doncaster. box hill is different from all those suburbs - villas, units do not sell as high as those other suburbs like camberwelll or armadale. A villa can sell to close to a million in camberwell but can be low as 480K in box hill and an apartmemt in box hill can be 350K but 800K in armadale

 

Brand new and otp townhouses do sell very well, though

 

Yeah they do as they just want a place to stay close to their favourite eateries. Been watching townhouses and units since early 2000s, the thing is in melbourne OTP is often if not mostly valued less than their inital sell price. They may sell well in melb but cg is limited. Very different to sydney in that respect.

 

I'm watching this area closely for a couple of reasons, and totes agree that there's a new/otp premium, similar to the new car premium that drops once the car's driven off the lot, but for other reasons.

 

Lots of big landholders there rubbing their hands with glee... I keep telling them to sell out and go buy a building in CBD