Hello all,
Where are you investing in Sydney, NSW ??
Hi Mate,
Don't buy now, wait around end of 2016 or next year as most off the plans are that was contracted few years ago is due to complete in 2016 and 2017.
Prices will drop for sure. And with the current sharemarket volatility is going to get intresting....not a crash but I'm looking at 10 - 15 % drop.
At the moment if you look at Domain and Real Estate sites there are lots of properties for sale now as sellers trying to make profit before shit hits the fan!
>>1036683
Northern beaches
Australia is getting flooded with more Chinese that need to invest millions of dollars in to the local economy to get citizenship, a lot of them buy penthouses in northern beaches.
> investing in Sydney
How about not doing that? Horribly overpriced and will correct soon. If you want to live in Sydney you should be renting.
>>1036683
>average house price is $600k USD in a country with the population density of alaska
Hnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnng
>at the end of a bubble
b-buy high right guise?
>investing in property
>not just using the property
You're the reason why we have bubbles.
>>1036683
how is RE in Aus so expensive when you are the same size as the US with a tiny fraction of the population?
>>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.
>>1036683
I'm looking to grab a property in the city (Brisbane between 450-480k).
I'm not sure how heavy the Tennerrife projects will affect everything when they finish though.
>>1036863
Real estate investment is so attractive though. All dat leverage. Seems like stocks are the slow track.
Anyone else in brisbane property?
>>1037647
>all that leverage to buy something which is overvalued and almost certain to go down
Isn't that worse?
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.
If I squint I swear I can see a maple leaf in this thread
>>1036770
Cocaine. It's fucking huge there and only getting bigger
>>1037522
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.
Just purchased an off the plan 3 bedroom apartment at Harold Park. 2.4 million. Not a single regret and I expect to have made at least 200k by the time it is completed.
I also work as a Construction Project Manager at a remediation company.
Don't expect a price drop just a slow down in the market while it corrects itself.
Don't buy a shit unit that was made by a poor developer.
Don't buy any units in general unless it's a 3 bedroom+.
Buy where there is going to be new train lines.
Buy on the central coast.
My most recent buy was a 2 bedroom unit at Umina beach.
>Don't buy from shit developers
How do you separate the shit from the good developers without inside information? Who are good developers? Who should you avoid?
Massive new iron ore deposit was just discovered 3 Hours away from Adelaide, a 3 bedroom home 20 minutes from the Adelaide CBD sells for 350 - 400k. Don't invest in Vic or NSW. Invest in SA
>>1036683
How do you get any furniture inside that house with such a skinny fucking door?
>>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.
>>1038134
Do you have any idea what the price of iron ore is?
They won't even touch the ore deposit man for a good 30 years.
>>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.
>>1036683
Get the fuck out of my country chink
>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.
What's a decent price for a four bedroom rental in?
Am I getting cucked if I go AU$400 weekly for that?
>>1038275
It's happening everywhere. I own 2% of a Chinese company buying a teardown hotel
This whole business is 5 day close, all cash business
>>1038394
Depends where it is. If that's Melbourne or Sydney, that's an incredibly good price.
We are literally at the top of the market