VIC Melbourne market is hot 2021

Discussion in 'Where to Buy' started by Skyhighlimit, 31st Jan, 2021.

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  1. melbourne171

    melbourne171 Well-Known Member

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    The numbers of listed houses increased in the last few weeks. Will this reduce the house price?
     
    melbourne171, 25th Oct, 2021
    #341
  2. Hamish84

    Hamish84 Well-Known Member

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    Ordinarily yes. But there’s a fairly unique factor right now: we’ve just got out of lockdown :p
     
    Hamish84, 25th Oct, 2021
    #342
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  3. melbourne171

    melbourne171 Well-Known Member

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    melbourne171, 26th Oct, 2021
    #343
  4. Hamish84

    Hamish84 Well-Known Member

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    Akuna is far nicer (edited typo) and appears to be freehold. Risdon is hard to pick but you’d have to expect at least a mil, but under 1.1?

    Factor in costs to replace those ghastly tiles :eek:
     
    Hamish84, 26th Oct, 2021
    #344
  5. melbourne171

    melbourne171 Well-Known Member

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    Thanks @Hamish84

    Agreed, your estimate is fair. I will use this hint as guidance for my bid at the auction.
     
    melbourne171, 26th Oct, 2021
    #345
  6. Traveller99

    Traveller99 Well-Known Member

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    Traveller99, 29th Oct, 2021
    #346
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  7. Squirrell

    Squirrell Well-Known Member

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    Yup people are poo pooing melb growth prospects. But considering its been locked down for most of the year, 16 pct growth is impressive, especially given melbs heavy reliance on immigrant intake which is likely to pour in again when borders open.
     
    Squirrell, 29th Oct, 2021
    #347
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  8. Bunbury

    Bunbury Well-Known Member

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    And it turns out CG has been higher in Melbourne than Brisbane over the past year. Who’s going to tell the Brisbane brigadiers?
     
    Bunbury, 30th Oct, 2021
    #348
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  9. Hamish84

    Hamish84 Well-Known Member

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    Hamish84, 30th Oct, 2021
    #349
  10. Traveller99

    Traveller99 Well-Known Member

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    Does seem low. My thoughts on why is possible tiny land size making renovation needed on second level which is costly. Interior needs full reno. Street has speed humps suggesting plenty of traffic?
     
    Traveller99, 30th Oct, 2021
    #350
  11. Truly Exotic

    Truly Exotic Well-Known Member

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    wowthats a good price,
    id be interested in that
     
    Truly Exotic, 30th Oct, 2021
    #351
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  12. Squirrell

    Squirrell Well-Known Member

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    141sqm is tiny land. Normally when we think small terrace house its 3 beds on 250 to 350 sqm. This is a micro house.
     
    Squirrell, 30th Oct, 2021
    #352
  13. Hamish84

    Hamish84 Well-Known Member

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    Nah the street doesn’t have much traffic at all. The commies at Moreland Council put traffic calming everywhere and close off streets = Lygon St and Sydney Road become car parks.

    Land size is small, but it should still be well north of $1m for that location.
     
    Hamish84, 30th Oct, 2021
    #353
  14. melbourne171

    melbourne171 Well-Known Member

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    Wow, it is very good outcome. Just 300sqm, old house, $1.3m

    I am watching this auction in Notting Hill, South East,

    https://www.realestate.com.au/property-townhouse-vic-notting+hill-137497702

    Let see how much it will reach at the auction next Saturday 6 November
     
    melbourne171, 30th Oct, 2021
    #354
  15. Hamish84

    Hamish84 Well-Known Member

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    Hamish84, 30th Oct, 2021
    #355
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  16. melbourne171

    melbourne171 Well-Known Member

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    melbourne171, 30th Oct, 2021
    #356
  17. Hamish84

    Hamish84 Well-Known Member

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    Yep. That house woulda been $1.1m max before lockdown 6.0. And under a mil earlier in the year.
     
    Hamish84, 30th Oct, 2021
    #357
  18. kaibo

    kaibo Well-Known Member

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    kaibo, 30th Oct, 2021
    #358
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  19. Traveller99

    Traveller99 Well-Known Member

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    The price differential can't continue. 2022 will be interesting...
     
    Traveller99, 31st Oct, 2021
    #359
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  20. Squirrell

    Squirrell Well-Known Member

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    Squirrell, 7th Nov, 2021
    #360
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