Sydney Not Stacking Up..Young moving to Melbourne

I heard on the grapevine that the priced out bogans and housos in the Druie have been looking at places like Barrack Heights and Tenambit to place their roots

 

Don't get me wrong - great for cashflow

 

Speaking of Melb, my wife not too long ago worked on a $200,000,000+ deal with a developer and investors who are going to build some massive residential high end units there. A lot of money going into that place.

 

Yes perfect. You've conveyed my point more elequently than I was able to! At the end of the day, I hope we all win

 

People (many on here) who sacrifice so much and put their blood, sweat and tears into building a better future with unyielding courage. I wish everyone all the best. No sour grapes here.

 

this is my worry. Keeping my Sydney apartment for this reason.[/QUOTE]


Don't stress.... Melbourne is an amazing place to live....just make sure you get the biggest solar unit possible for your pool!!!!

 

Don't stress.... Melbourne is an amazing place to live....just make sure you get the biggest solar unit possible for your pool!!!![/QUOTE]
Might not have pool for a long time, moving cost is a killer! And PM just called my 5 mins ago - one IP got HWS unit stolen.
I'm considering your swimspa option seriously but might not be this year Fastlane Pool Swim Spas | Small Swim Spa | Fitness Spas | Fastlane Pool Spas
On a different note, I still go to public pool and the beach during winter here so maaaaybe I'll be ok in Melb

 

u seem to take it personally, why?

 

I know of two families working in retail in Sydney that literally moved to Melbourne as they couldn't afford a home of their own there! They miss Sydney terribly though!

 

Huh? No just based upon people i know who've moved and friends of friends.

 

Fair enough, read it wrongly. Apologies

 

Ditto...the old motto...put up or.....

 

Great...send them that way.........I have some Ocean front property in Arizoner to sell them.....

 

I have some lovely properties in North Dakota...cough cough....

 

let me guess in mine subsidence or near oil rigs??

 

You do realize most of Logan doubled in value from 2002-2005?

 

Absolute rubbish @sash there is no money to be made from H&L in Melbourne... my two purchases in Rockbank earlier this year at $149k and $163k are not now selling for $200k. That's not almost $100k increase on $30k deposits with still around 12 months of potential growth left before I have to settle.

I have not experienced $1m price growth on 5 properties valued at $2.75 and costing $1.73m in Beaconsfield and Pakenham over the last 2 years.

Not to mention the many many package and flip deals I haven't made $30+k on each.

Yep nothing to see here. No money in H&L...

Edit: not looking to blow my trumpet but for the peeps that say I could have done this or better in established suburbs blah blah and show me the stats blah blah, I started with $50k equity around 3 years, so no I can't possibly see a way I could have done this in established.

 

Well, I think Sydney is in for some down time, Mel maybe too in many places.

There is no problem if you have bought before this cycle, who cares ? But those who have bought recently, paid top dollar and on 2-3% return could be in real strife......

I know people who have already lost money buying this cycle, they wont be alone & when they sell, they will realise the loss, not everyone does things the way many posters here may & that is the thing, just how many are holding now who may have to sell, then add in the lending changes for those who are on the edge, there would seem to me to be plenty of potential to have a pull back or flat period.

 

I actually think Sydney will hold a bit, only because now Australia has opened up to Asia, and rich people in Asia thinks Australia's house prices are cheap in comparison of their mega cities (e.g. Shanghai, Beijing, Hong Kong etc) and will continue to migrate and buy properties. A lot of them still look for lifestyle, or send their kids to school here to learn English. Even if house price drop, it would be only small percentage.

Also too many Sydneysiders are too scared to sell their properties, once they sell them and leave, they actually couldn't come back to Sydney without some kind of downgrade in property. The stamp duty is just too prohibitive.

Melbourne is going to be the most populated city in Australia and has great momentum with tons of people moving in daily. Right now I still think Melbourne is best potential for capital growth, especially anything close to the city itself.

 

Guys, it's 13C in Sydney, and probably cooler in Melbourne. It's a bit cold to flop it out and show me what you got.
No one said in this post that you can't make money in H&L Melbourne. no one. period