Is Australia an oversold country?
#301
Forum Regular
Joined: Feb 2008
Posts: 78
Re: Is Australia an oversold country?
surely it all depends on who you talk to
yeah some people will say its the land were the sun always shines, where everything is dirt cheap and where you dont have to do any work but anyone with half a brain cell will know that that isnt going to be true
personally if it doesnt work it doesnt work, ill come home with less money in my pocket but thats the great thing about money you can always earn more what you probably will never have more of is the chance to do this again because time is the thing that no matter how much money you have you cant by more
yeah some people will say its the land were the sun always shines, where everything is dirt cheap and where you dont have to do any work but anyone with half a brain cell will know that that isnt going to be true
personally if it doesnt work it doesnt work, ill come home with less money in my pocket but thats the great thing about money you can always earn more what you probably will never have more of is the chance to do this again because time is the thing that no matter how much money you have you cant by more
#302
BE Enthusiast
Joined: Apr 2005
Location: Melbourne
Posts: 629
Re: Is Australia an oversold country?
Depends where in London. I still actively watch the London and Surrey markets and can find little evidence of prices dropping "dramatically". In fact I would even go so far as to say in some instances prices are continuing to increase.
#303
Account Closed
Joined: May 2009
Posts: 2,708
Re: Is Australia an oversold country?
The problem is that so many people have negative equity in the property so they can't sell because if they do there's not enough to cover the mortgage, so people are just hanging on and hoping to get a good price.
Last edited by Deancm; Jul 7th 2009 at 10:09 am.
#304
BE Enthusiast
Joined: Apr 2005
Location: Melbourne
Posts: 629
Re: Is Australia an oversold country?
Still have a property there actually (Ealing) and keep a very close eye on the market for obvious reasons. The flat downstairs to ours has just gone on the market for GBP$635K!!!! The guy bought it for GBP408K April last year. We guestimate he has spent about GBP100 doing it up. OK so he hasn't sold yet but even if someone "snapped it up" at GBP500K it is still not a bad return on his initial investment.
I am going over again in October - let me know where these bargains are because we are thinking of purchasing another investment property.
I am going over again in October - let me know where these bargains are because we are thinking of purchasing another investment property.
#305
Account Closed
Joined: May 2009
Posts: 2,708
Re: Is Australia an oversold country?
Still have a property there actually (Ealing) and keep a very close eye on the market for obvious reasons. The flat downstairs to ours has just gone on the market for GBP$635K!!!! The guy bought it for GBP408K April last year. We guestimate he has spent about GBP100 doing it up. OK so he hasn't sold yet but even if someone "snapped it up" at GBP500K it is still not a bad return on his initial investment.
I am going over again in October - let me know where these bargains are because we are thinking of purchasing another investment property.
I am going over again in October - let me know where these bargains are because we are thinking of purchasing another investment property.
If someone snaps it up for GBP500K he would have mad an 8K loss. Sounds to me as though he has taken a massive risk. Can't see him selling it right now. People can advertise a property for any price they want. Whether it sells or not is a completely different story. Let me know if the guy has sold his flat by the time you get back. I would say he will either do one of two things, rent it out and ride out the financial crisis or sell at a discounted price to break even and hopefully make a small profit.
The biggest problem is he bought it just before the crash so he has already paid an over inflated price for the property.
#306
BE Enthusiast
Joined: Sep 2002
Location: Mornington, Melbourne
Posts: 419
Re: Is Australia an oversold country?
Its tough getting on here in my experiences.
I like many others thought, sod the money we want a lifestlye change. We live on the Mornington Peninsula, Victoria (been here for 5 years).
From my experiences, pay is lower, hours are longer (not that they work any harder) there's a culture here of valuing you by the hours you do and not what you actually do. You can be as lazy as hell in an office as long as you turn up early and go home late. Do you hours only and work had during that time simply is not apreciated! What a joke!
We now have 2 kids. i'd like to go back to the UK, but the wife want's to stay here for the childrens sake.
I like many others thought, sod the money we want a lifestlye change. We live on the Mornington Peninsula, Victoria (been here for 5 years).
From my experiences, pay is lower, hours are longer (not that they work any harder) there's a culture here of valuing you by the hours you do and not what you actually do. You can be as lazy as hell in an office as long as you turn up early and go home late. Do you hours only and work had during that time simply is not apreciated! What a joke!
We now have 2 kids. i'd like to go back to the UK, but the wife want's to stay here for the childrens sake.
#307
Account Open
Joined: Jan 2005
Location: Brisbane
Posts: 4,298
Re: Is Australia an oversold country?
Yours is a bit further out than mine. Mines in Canary Wharf.
If someone snaps it up for GBP500K he would have mad an 8K loss. Sounds to me as though he has taken a massive risk. Can't see him selling it right now. People can advertise a property for any price they want. Whether it sells or not is a completely different story. Let me know if the guy has sold his flat by the time you get back. I would say he will either do one of two things, rent it out and ride out the financial crisis or sell at a discounted price to break even and hopefully make a small profit.
The biggest problem is he bought it just before the crash so he has already paid an over inflated price for the property.
If someone snaps it up for GBP500K he would have mad an 8K loss. Sounds to me as though he has taken a massive risk. Can't see him selling it right now. People can advertise a property for any price they want. Whether it sells or not is a completely different story. Let me know if the guy has sold his flat by the time you get back. I would say he will either do one of two things, rent it out and ride out the financial crisis or sell at a discounted price to break even and hopefully make a small profit.
The biggest problem is he bought it just before the crash so he has already paid an over inflated price for the property.
#308
Australia's Doorman
Joined: Jan 2005
Location: The Shoalhaven, New South Wales, Australia
Posts: 11,056
#309
Account Closed
Joined: May 2009
Posts: 2,708
Re: Is Australia an oversold country?
Well if he spent GBP100 then he hasn't done anything to it and from buying a property at GBP408K to adverisise at GBP635K and going from the context of what was written I assume that GBP100K was meant but could be completely wrong. I've never seen a property market where you can buy a place and sell it after a year for over 200K profit without doing anything to it.
Last edited by Deancm; Jul 8th 2009 at 5:48 am.
#310
Australia's Doorman
Joined: Jan 2005
Location: The Shoalhaven, New South Wales, Australia
Posts: 11,056
Re: Is Australia an oversold country?
Well if he spent GBP100 then he hasn't done anything to it and from buying a property at GBP408K to adverisise at GBP635K and going from the context of what was written I assume that GBP100K was meant but could be completely wrong. I've never seen a property market where you can buy a place and sell it after a year for over 200K profit without doing anything to it.
#311
Account Closed
Joined: May 2009
Posts: 2,708
Re: Is Australia an oversold country?
I used to live in Bath. I've seen exactly that and more. Or how about the house we used to fund our emigration just north of Bath? Bought for £87K in 2002 - sold in 2005 for £250K. We replaced the carpets with wood-style vinyl flooring, painted the place and replaced the patio door. That was it. Place was a shoebox too - little three bedroom bungalow.
#312
Just Joined
Joined: Jul 2009
Posts: 1
Re: Is Australia an oversold country?
There are many PONZI schemes in the UK and other countries... ever stopped to think about the PONZI scheme in the UK called pensions ? Classic PONZI scheme - new guys putting money in to pay out the older investors...
Last edited by philv; Jul 8th 2009 at 6:31 pm.
#313
Forum Regular
Joined: Jan 2007
Posts: 39
Re: Is Australia an oversold country?
Get a grip, you kids could argue in an empty room
#315
Home and Happy
Joined: Dec 2002
Location: Keep true friends and puppets close, trust no-one else...
Posts: 93,787
Re: Is Australia an oversold country?
Pack it in the lot of you. This is a discussion forum not a boxing ring.