Melbourne market is hot

Discussion in 'Property Market Economics' started by Younginvestor2, 21st Nov, 2020.

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  1. Mulianto

    Mulianto ~~

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    Yup, as if you will ever sell lol

    Long gone the days when I was offered ecstasy pills at quiet Box Hill train station.
     
    Last edited: 12th Dec, 2020
  2. The Y-man

    The Y-man Moderator Staff Member

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    Actually I sold as recently as Oct 2016 :)

    The Y-man
     
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  3. Mulianto

    Mulianto ~~

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    1 out of 20 in the portfolio? Good timing.

    I think price has stabilized, especially Eastern suburbs. Demand is always there...
     
  4. The Y-man

    The Y-man Moderator Staff Member

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    It was a tiny dog box 1BR we bought in the early stages of expansion. Bought it for 185k in 2001, sold for 380k.

    Good cashflow though - pulling a good $240pw form the word go, and got as high as $350pw

    Sold it and "swapped" for a bigger property.

    The post-gfc panic was the time we sold off over half our portfolio to pay down debt. Most of those were apartments too. It took us about 5 years to regroup and start buying again.

    The Y-man
     
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  5. kaibo

    kaibo Well-Known Member

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    Good to head out to auctions for first time for a while due to relaxation of rules. I managed to fit in 2 and both sold at reasonably good prices but the urgency and depth of buyers just not there for these land only sales

    Sold 60 Neville Street, Box Hill South VIC 3128 on 12 Dec 2020 - 2016645071 | Domain
    1.21M sold under hammer, two active bidders and just sold after on the market

    https://www.realestate.com.au/property-house-vic-balwyn-134906202
    sold after below the higher end of the range (1.91M?), 2 active bidders and not even getting in on the market and passed in

    To be fair location on both is B Grade or lower but in a hot market the vibe at auction would be better
     
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  6. Robbo80

    Robbo80 Well-Known Member

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    B grade?? You have expensive taste :p
     
  7. craigc

    craigc Well-Known Member

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    I hope that’s the property not the pills you’re referring to @The Y-man :p:p
     
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  8. The Y-man

    The Y-man Moderator Staff Member

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    Nah - you need to talk to @datto for that.

    The Y-man
     
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  9. Triton

    Triton Well-Known Member

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  10. Luca

    Luca Well-Known Member

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    Yep, not sure if it`s just because we are coming out of the lockdown but Watsonia and surrounding suburbs are on fire. Everything selling at 15%/25% more than the top of the quoted price.




    {Note from mods - this thread continues here: Melbourne market is hot 2021}
     
    Last edited by a moderator: 29th Sep, 2021