>>1037522 90% of the population lives within a mile or so of the coast line. I can't remember the exact stat. But yeah, point is we don't use all the space we have because most of it isn't nice to live.
I can't wait for the bubble to pop, with the Chinese being major contributors to our foreign investment industry. They will be looking to liquidate their assets here in Australia to survive which will fuckup our markets. There are literally real estate agents who speak Chinese & advertise Australian properties in mandarin. Watching the despair and confusion that will overcome the baby boomers will be a treat.
All three levels of government restrict where construction can occur, in order to keep demand stoked. This manipulation includes onerous zoning restrictions as well as numerous tax distortions and federal subsidy regimes.
>>1038117 >>1038116 I guess I have it a bit easier because I consistently go and have to bid on tenders to repair buildings that have fallen to shit after 10 years.
If you are buying off plan Do some basic research if the company and their history of projects. Have any of them had delays? Have any of them had any hiciups?
Go to some of their old buildings which are at least 10 years old. Ask the strata which manages it questions, ask the current tenants.
Are you buying an existing apartment? Again do basic research but more importantly ask about the history of the apartment. What repairs has it had done and what is currently pending.
Inspect the unit obviously...
But when inspecting the #1 thing that will cause issues and is what I have to deal with DAILY is water damage and water problems.
This is due to crappy shitty waterproofing on balconies, wet areas and the roof.
A shit developer will cheap out on their waterproofing because it tends to be one of the last things to complete on the project and they need to cut their costs.
Ask what kind of waterproofing the balconies have and if they have had any issues recently.
Is it a brush on liquid membrane? Have fun in 5-10 years time. Do not buy it and stay the fuck away.
Sorry if I am rambling, I am home from work and tired.
The #1 problem in apartments and the #1 issue I have to price and manage are waterproofing issues.
These can range from $40,000 jobs on a single unit which might include.. Demolishing tiles/render Demolishing previous crappy brush on membrane Crushing out spalled concrete Cutting out corroded rebar Splicing a new rebar on Applying primer then new mortar Installing a plastic membrane system Re-screeding Re-tiling And that would be for a SINGLE balcony.
I also do $1,000,000-$5,000,000 jobs monthly.
This is when the cavity flashings, roofs, balconies, fixtures, bathrooms .. fucking everything are done badly. If the waterpoofing is done poorly. do not buy it.
>>1038079 >My most recent buy was a 2 bedroom unit at Umina beach. That's why all of the shitty fibros on the peninsula are worth 600k. I just hope people don't expect good internet where they're renting.
>have 350k in cash >torn between buying a self sufficient property in Northern NSW now to weather the incoming depression or waiting for the economic crash and massive deflation to hit and buy up all of the inner city properties being offloaded by the sheeple
On one hand, I don't want to be in Sydney when everyone loses their shit, on the other hand I don't want to miss out on the bargain of a lifetime.
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