VIC Post a Bargain Melbourne

Perhaps its now time to post deals/bargains in Melb, 2018?


MTR

 

Hehe I'm selling up in Melbourne now. The market is on the turn.

 

Had my eye on this steal for a while now.
11 Moonga Road Toorak Vic 3142 - House for Sale #128257270 - realestate.com.au

I’m trying to negotiate to get the vendor to knock of 4-5k before I’ll buy.

 

I think the bargains are to be had on the stock over the 800k mark. I have a family member looking for a 2 bed unit in the outer sth eastern "cheap fhb suburbs" and we haven't been able to find anything under 350-370k. 2 years ago these were high 2s at most.

 

The bargains are still 2 years away in my humble opinion, I could be wrong at it'll cost me but still no bargains that I've seen!

 

It's a bargain. This place is unrenovated, has two bedrooms, and costs nearly twice as much.

45 Hopetoun Road, Toorak VIC 3142 - House For Sale | Domain

 

Watch out - falling knives

 

Lot of bargains in the 1.2m to 2.5m territory....

Trying to find bargains in the under 650k territory..for a house is very hard.

 

Whereabouts are the bargains @sash ?

I've definitely seen some reductions in Blackburn, Box Hill, Doncaster , Balwyn North (areas I keep an eye on) and places like Essendon, but nothing i would call a "bargain" (at least not yet).

 

I'm not seeing any bargains either.

Take the place I facetiously posted in Toorak earlier, 45 Hopetoun Road. Number 65 sold for $10.5 million at the end of 2016, but is a larger house on a larger block, and is in better condition.

It's very easy to spend $2 million on a tatty two bedroom house in a decent suburb in Sydney or Melbourne. (For example, 38 Monash Avenue, Balwyn or 53 Highfield Road, Lindfield.) These don't strike me as being good value for money, and I think that both vendors are being optimistic.

Prices have doubled in the last five or six years, whilst incomes have been pretty flat, and property wasn't cheap before the boom. I think that there's a very long way to go before we see bargains.

 

Patience favors the brave the downturn has only started...it will take about 24 months to flat line...

 

Australia's most expensive two-bedder?

 

Yes, you are right early days IMO.....

 

OK, got one. 12 Fawkner Street, South Yarra.



Sold for $2.6 million about a year ago, now available to rent for $680 per week. That's a 1.4% yield.

Oh, you meant somewhere to buy?

 

I am salivating at the prospect....cash cylinders all fired up
Ring that bell would ya Sash?

 

Not yet.....its comin'....unfortunately a lot of people will get burnt.......

 

...its only startin' ....lots of people overgeared....as the I/O terms expires lots will not be able to refinance and will be looking at 20-40% more in interest payments.

The larger the loan the more painful it will be,.......

 

I am still looking for a unit/town house but in no rush.
So do you reckon 50% drop... no joking.....

 

I assume you meant repayments not interest payments but if interest rates went up by 40% then things will get interesting

 

I/O term cliff is a bit exaggerated. When we have interest rates at 7% back then, ppl are still doing OK and lot of I/Os.