Post your worst price dropped ip

Ok. So let's see if people have the guts to admit a dud ip


What's the property with the biggest % or net drop from purchase price as of today (and suburb)

Mine isn't too bad

Bought 180k went up to 250
Now down to about 175k

 

What was your suburb?

 

One of mine has gone sideways for about 3 years straight since purchase!

 

Sydney....valued and re financed on 700k, shortly after forced to sell and full campaign only reaped 560k, at the time labour govt just meddled with the duties, it caused some instability and was at the end of growth cycle.

Worst part was about 70k sunk into it which would not have contributed to the sale price, only made it easier to sell.

That and a development which cost more than that were 2 bad losses, lot of people got caught in developing when market turned.

 

dabbler when was this? And which suburb?

 

That was my worst one too!
Then over the next 2 years it gained 45% on purchase price.

 

My worst dropped about 25% over 4 year period. Still down at that level but seems to be bottoming.

 

I've got one just returning to 2007 value. It dropped around 30k at the bottom, but you couldn't sell anyway, the market died. Finally putting it back on the market whilst there are some signs of life.

 

Buying at the top of a cycle and it cooling off a bit and loosing day 5% is one thing.

However where are you guys buying properties to loose 25%???.. Jesus

 

Mandurah, Madora Bay, WA - this market boomed pretty much overnight and then tanked in 2006/2007

Purchased 2001 - $199,000, bank value in 2004 - $600,000

$400,000 (approx. value today)

 

Europe perhaps????

 

Or Mericccaaaa

 

70% falls in Atlanta USA 2007 crash, market has now recoveredi


grey
there are posts on PC where some have experienced 80% drops - mining towns

 

Over a period of 10 years in Kalgoorlie
Bought $185k
Went up to $300k
Then down and sold it for $235k

 

Costa Brava, Spain. Prices have dropped 50%, but I bought 2/3 of the way down, so my loss is 25%

25% drops are not unusual in global real estate markets. I would expect many parts of Sydney to experience drops of this magnitude in the next few years from the peak.

 

Man that's crazy - since you sold any chance to reveal where that suburb is?

 

18 years ago experienced a fall of 55% on IP purchase in a single year, broke even and sold 3 years later.

 

Canberra unit - bought 2008 $245K, sold 2015 $255K - who said prices double each 7 years....

Mistake I learnt from in this - -keep an eye on the market and if you see market movements starting that might affect the property's prices, make a decision quickly. I didn't see the apartment building boom in CBR fast enough and was caught up by it.

Also, (purely my opinion here) that CBR's market is heavily influenced by political movements.

 

This forum is mostly geared towards domestic markets. My comments were in reference to that.

 

The position I've taken and still stand behind is that you are ignorant if you believed mining towns were sustainable investments. They were cyclical at best. No empathy from me.
Greed clouds judgement..
Thanks for your reply MTR