Where would you buy right now?

Discussion in 'Where to Buy' started by MJS1034, 10th Jul, 2016.

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Where would you buy with a budget of $500k?

Poll closed 23rd Jan, 2020.
  1. Melbourne- North West

    20 vote(s)
    15.5%
  2. Melbourne- South East

    14 vote(s)
    10.9%
  3. Sydney - North West

    8 vote(s)
    6.2%
  4. Sydney -South East

    3 vote(s)
    2.3%
  5. Brisbane North

    40 vote(s)
    31.0%
  6. Brisbane -South

    39 vote(s)
    30.2%
  7. Perth

    8 vote(s)
    6.2%
  8. Adelaide

    30 vote(s)
    23.3%
  9. Darwin

    1 vote(s)
    0.8%
  10. Regional

    7 vote(s)
    5.4%
Multiple votes are allowed.
  1. standtall

    standtall Well-Known Member

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    I thought Sydney was slowing down but I have been talking to a few agents lately (to upgrade PPOR) and this is what's happening.

    1) There's a shortage of dwellings with land component. There aren't many houses on the market and you will find some whole suburbs with just 5-10 listings. I am not sure if this is just the 'winter stock slow down' or with low interest rates and steady job market, nobody is in the rush to sell.
    2) Units are in abundance and with buyers preferring to buy houses over units, I could see a correction in unit market in next few months.

    It will be an interesting six months to end of the year in Sydney but I think it's following on the footsteps of asian cities where there's a growing gulf between houses and units in terms of supply and prices.
     
  2. JDP1

    JDP1 Well-Known Member

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    I plan to..there are a few people that I know are doing so..in Brisbane- dunno about adl.
     
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  3. standtall

    standtall Well-Known Member

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    I agree but one thing I have learnt about Syd so far is that you have throw the common sense out the window before investing here. It hasn't made sense to invest in Sydney for a long time now but somehow pigs do end up flying.

    Its like a big scam, once you become part of it, you stop questioning. I sometimes wonder if it will all come crashing on us one day but then I think it will have to crash multiple times to take us back to says 2007 values.
     
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  4. D.T.

    D.T. Specialist Property Manager Business Member

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    Adelaide and Gold Coast
    Not sure if that's a very good metric given Hobart has the best at 1.1%, Sydney / Adelaide 2.1%, Melbourne 2.8%, Brisbane 2.9%, Perth 4.1%, Darwin 4.2%.
     
  5. DCTY

    DCTY Member

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    Sorry, might not answer the question, is not buying an option? with 2 IP in Bris over last 2 years, i am prob going to sit tight and try to consol my debt given the low interest rate and hopefully get bit more equity to start buying in 12-18 mth again.. hopefully by then Perth will have some oppty. Hopefully, there would less ambiguity around marcro economy by then.
     
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  6. standtall

    standtall Well-Known Member

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    They do tell the story. Latest Figures from SQM

    • Syd - 1.6% steady (explains the stable prices)
    • Adelaide - 2% yet starting to rise gradually. Most likely, end of a cycle that was stolen away from Adelaide by Sydney and Melb.
    • Brisbane - 2.7% and consistently on the way up. No surprises that Brisbane was spruiked the most on these forums.
    • Melb - 1.9% but downward movement.

    Hobart looks good but I wouldn't invest in small markets for personal reasons.
     
  7. standtall

    standtall Well-Known Member

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    Good point. May be good stock picks in the meanwhile to grow the savings. I think stock market is finally due for a recovery.
     
  8. Mumbai

    Mumbai Well-Known Member

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    It is happening. Just the scale is different. Sydney had a high entry point too. My IP in Logan has increased around 18% in 2 years. Not great but not bad at all.
     
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  9. Gockie

    Gockie Life is good ☺️ Premium Member

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    Agree.
     
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  10. ashish1137

    ashish1137 Well-Known Member

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    What makes you think like that? :)
     
  11. Luka

    Luka Well-Known Member

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    Gold Coast
    Imho the wisest comment someone made here recently is to ignore the various stats providers, and do your own ground work. The stats often contradict what I see where I'm looking to buy locally.
     
    Last edited: 11th Jul, 2016
  12. JDP1

    JDP1 Well-Known Member

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    I wouldnt totally ignore stats. Doing your own dd is obviously important. I would also look at trends in stats eg qtr to qtr to see the direction its going in. Although the point in time stats may be a bit different based on provider (they use diff methodologies and thats probably why diff numbers), the trend should be about the same. Analyzing trends is also a great way to predict timing of thr market...especially so for RE as it is more slower moving than say shares or currencies.
     
  13. standtall

    standtall Well-Known Member

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    Just the demand and supply. Houses for sale are going down in numbers all over Sydney.
     
  14. Luka

    Luka Well-Known Member

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    Gold Coast
    Jdp1 you are right :) I meant it as a generalisation

    Btw There are other wise comments too imho
     
  15. JDP1

    JDP1 Well-Known Member

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    The wisest posts on this forum are from @datto . Check out his posts. :D
     
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  16. ashish1137

    ashish1137 Well-Known Member

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    So that should reduce the demand in future, right?
     
  17. MTR

    MTR Well-Known Member

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    I have said this many times

    they confuse, outdated and most of the time not accurate.

    what really matters is what is happening on the ground and stats will not show you the real picture and that is the issue

    I have actually proved this a number of times with examples on other threads. I have had investors tell me Perth did not boom in 2013/14 according to their stats, shame if they were paying attention and watching what was happening on the ground they would have made money in Perth during this period

    Future stats and stats on past history mean zip, what is happening today is what matters.
     
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  18. ashish1137

    ashish1137 Well-Known Member

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    Also depends on what suburbs you are looking at and what potential they have in future.

    Usually everyone is running behind hills and vicinity in west or the new trainline corrdor (cherrybrook, etc) or places where zoning is changing. NO doubt you will sruggle to source property with high land component.

    People will askpremiums as everyone wants to grow. Not everyonr will ask for genuine prices. If they ask as per market, an investor will not want to pay, be it buying for ppor. Because negotiating is in your blood.

    I do not think you will see issues now, the issues according to me will come when interest rates start to rise. Even if it will be 3 years after now.

    Then you may not see 2007 prices. But i best you will see that testing every buyer's patience. Those who wait and keep funds aside will be rewarded. I am a believer of that.

    There are a lot of examples here where people have waited from 2003 to 2009 and have been rewarded, not immediately but they still have to wait until 2012.

    What do you make of that? Do you derive anything. Those who want to buy, please go ahead, year one, two, three,four. Time will tell. I will be ready with funds and equity.:):cool::D

    Regards
     
  19. Sackie

    Sackie Well-Known Member

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    That's pretty spot on with my own thoughts.
     
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  20. C-mac

    C-mac Well-Known Member

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    Agree on this point about usong as currency, 'real-time' on the ground trends, when making decisions about property purchases. It isnt easy to do, but then, anyone who vlaims successful property investing is 'easy' probably isnt doing it right to begin with ;)
     
    MTR likes this.