Hi, I am wondering if Truganina and Tarneit of West Mel are ideal to invest in, especially when the new or fairly new houses with land content are selling around $700k for a 4 bedder or $600k for a 3 bedder instead of buying a strata property in Mel. Any opinion please.
We bought our house in a Logan suburb 2 years ago for 550. We were a little bummed because we thought we were likely buying at the top of the market after the covid boom. I had friends advising it might be worth waiting for the “surely oncoming price correction”. The estimated value dropped slightly for two months and has since jumped up to be valued between 664-723, but we have been seeing similar houses being snapped up for 700+ mostly by big immigrant families who need the bedrooms. Glad we didn’t wait!
Melbourne prices have gone higher 10-15% since 2017. That’s 2% a year! Negative gearing vs interest rates about 3%, CPI at 3% plus maintenance cost/rates etc. Property needs to go up 10% per year to be worth it! Once investor wise up property will drop or stagnate over a large period of time
Went to an open home today in Brisbane. 3br, 2 car park townhouse. Average quality place in Morningside listed from $800k . Would have had 40 groups through. Insane.
I was just watching the part in the video when the fella says the words I was lookin' for. He reckons some may look to move to an area less than ideal to build equity.
@@joekeegan-yc4nm totally, I’m in Perth so I am already in one of those areas. I’m looking at houses which need some work but the amount of work that would be required for someone of the houses that are available require $80k or more in repairs. I can afford something in a rural town like Kalgoorlie or Geraldton but that would not be practical for my work or my family.
Don't delay any further, 80k mite seem like alot now but you dont have to do all the work at once, you will have that amount plus in equity the way things are going. Which areas in Perth are you looking at?
Hey Hunter Galloway, I just watched your video and I must say that it was really informative and well-made. I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
Unfortunately even if there were no investors, there would be no rentals. And a lot of people just dont want to own a home 🤷♂️ For example, I move around the country every year for work. I buy properties, live in them, then make them midrange rentals when I leave. My tenants are usually FIFO guys, contractors for government works (hwys), police and rfs officers and their families that get relocated every 1-2years etc. They have no interest in buying or the headache of owning. Without investors, those people would have nowhere to go for the short period of time they’re in that location working. BUT theres gotta be a middle ground. Right now theres SO many overseas investors buying up the place, I cant get homes for myself or my tenants. They’re screaming for rentals. Its shithouse.
I feel some of these suburbs mentioned in BNE are due for an urban renewal phase. The core infrastructure already exists as well as public transport. A Lot of these homes unfortunately are well over priced, I guess this is the reality of all major cities and the city boundaries expanding so quickly.
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Hi, I am wondering if Truganina and Tarneit of West Mel are ideal to invest in, especially when the new or fairly new houses with land content are selling around $700k for a 4 bedder or $600k for a 3 bedder instead of buying a strata property in Mel. Any opinion please.
We bought our house in a Logan suburb 2 years ago for 550. We were a little bummed because we thought we were likely buying at the top of the market after the covid boom.
I had friends advising it might be worth waiting for the “surely oncoming price correction”. The estimated value dropped slightly for two months and has since jumped up to be valued between 664-723, but we have been seeing similar houses being snapped up for 700+ mostly by big immigrant families who need the bedrooms.
Glad we didn’t wait!
Melbourne prices have gone higher 10-15% since 2017. That’s 2% a year! Negative gearing vs interest rates about 3%, CPI at 3% plus maintenance cost/rates etc.
Property needs to go up 10% per year to be worth it! Once investor wise up property will drop or stagnate over a large period of time
Yes but while doing that they have made it impossible for people to live in a home. Go play with your money somewhere else .
Went to an open home today in Brisbane. 3br, 2 car park townhouse. Average quality place in Morningside listed from $800k . Would have had 40 groups through. Insane.
Australia will become a poor country
You do not need to have a property portfolio, a house is just somewhere to live.
I think
Might end up with high prices and could be hard to sell later on or they might go down.
Great info! I have a HUGE deposit, no debt and still can't get approval for enough to buy a small home for me and my family :(
Maybe a sign, to move.
You can return later if still applicable.
I was just watching the part in the video when the fella says the words I was lookin' for.
He reckons some may look to move to an area less than ideal to build equity.
@@joekeegan-yc4nm totally, I’m in Perth so I am already in one of those areas. I’m looking at houses which need some work but the amount of work that would be required for someone of the houses that are available require $80k or more in repairs.
I can afford something in a rural town like Kalgoorlie or Geraldton but that would not be practical for my work or my family.
Don't delay any further, 80k mite seem like alot now but you dont have to do all the work at once, you will have that amount plus in equity the way things are going. Which areas in Perth are you looking at?
Get a better job to afford the loan
Hey Hunter Galloway, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
Get rid of investors. Homes are for living in.
Unfortunately even if there were no investors, there would be no rentals. And a lot of people just dont want to own a home 🤷♂️
For example, I move around the country every year for work. I buy properties, live in them, then make them midrange rentals when I leave. My tenants are usually FIFO guys, contractors for government works (hwys), police and rfs officers and their families that get relocated every 1-2years etc. They have no interest in buying or the headache of owning. Without investors, those people would have nowhere to go for the short period of time they’re in that location working. BUT theres gotta be a middle ground. Right now theres SO many overseas investors buying up the place, I cant get homes for myself or my tenants. They’re screaming for rentals. Its shithouse.
@@WaitWhat99 Ok , I get what your saying and what you are saying is fair. So maybe we shouldn’t have overseas investors gouging the market.
@@WaitWhat99 I personally rent rooms for.a modest amount of money to help pay the bills.
My advice is if you can get in the market, get in the market...
Good advice
Raise it till you see it disappear in the sky… guess learning to live in tents! Is much better
I feel some of these suburbs mentioned in BNE are due for an urban renewal phase. The core infrastructure already exists as well as public transport. A Lot of these homes unfortunately are well over priced, I guess this is the reality of all major cities and the city boundaries expanding so quickly.
Waiting for crash and buy house in new farm on 1 acre for 50k
Aah video ... Not a podcast ... Let's watch 😊
Haha thanks for watching!
Game over. I'll just live out of my car.
What comes up must go down
Expect realastate
If you think houses are going down you’re going to be disappointed mate 😂
Nonsense
Bring it on. Let them skyrocket, so that the government will finally move their asses.
Excellent and very informative. Thanks for sharing!
Glad it was helpful!