Florida_03

No!

You pick the right land, build the right house and enjoy the profits CGT free. Plus you get to live there!

Or...

You pick the right house, and enjoy the profits CGT free. Plus you get to live there!

dotty

No exaggeration I'm afraid. Estate agents would have a little piddle if you went in looking for $265,000 here.

As for waiting, with land developers putting up prices with every release and 500 odd folk for 20 blocks not much hope there. youd just be waiting for their next profit hike.

Oz market is very different to UK, explained lots of factors many times. My opinion on the property market in Bris SE Qld is its just started to roar. Look at some of my predictions on this website over the last year been pretty correct so far.

etlniwd

Try here.


Houses for sale in Queensland under $265,000

etlniwd

I agree that there is lots of steam left in the SEQ property market. However, I am convinced that there will be a crash in Sydney within the next year or so. This will be a big wake up call for the rest of Australia but I think it will just result in a stall in SEQ rather than a crash. In the long term though I can see the price difference between NSW and QLD getting less and less.

Just an educated guess/wish.

pommie bastard

Did it that Pal and would have made 3 times the profit not building on the land even if I paid CGT.

pommie bastard

I have built here and the costs are high , buy a block in a good area and sit on it thats where the money is now, plus renting is getting cheaper.

Renters win as investors hurt

RENTS are falling, creating a potential double-whammy for property investors already uneasy about the home price bubble.

Too many properties to let and not enough tenants has created renters' markets across the nation and, according to a leading housing expert, it's likely to stay that way for the foreseeable future.

Ceri

Funny that ... without going through all the details of what I have spent to built and buy land - if I sell up now even without doing up the garden, and finishing touches. I can easily make $150 grand profit. The houses, my neighbours homes around me are gong for stupid prices, I paid far less to build (all up, including the plot and lawyers fee's ) than what my neighbours 15 year old small three bed homes are selling for.

It is still cheaper to build your own home than buying an existing home. I've paid far less with more of a house than if I had bought an existing home with the same amount of money which I have spent on building . Like I mentioned above, if I sold up today - I would easily make , clear $150 grand profit , and Ihave not even finished the finishing touches, like garden and pool etc

As for all the extra tax - ours came to 7 grand. You pay no stamp duty on the building, only if you buy the building after completion. We bought a plot privately before boom, and not from a developer .. ie. not in one of these new estates that keep popping up everywhere.

Houses on that list - some are fibro/wood - others (the brick) are in areas such as Deception (Depression) Bay (known as a cheap area) . Near to me in my last house (I've just moved out into new home) there was a new estate ...house and land 300 sq metres (Three and 4 bed crammed on to a 300 sq plot) - $285. For a 4 bed on a 700, 800 sq metre $344 grand - not really an upmarket area, just your average" middle of the road " estate.

I can tell you Deception Bay is the cheaper end of the market for the bay around there (I lived down from it in Redcliffe). For a decent amount of land surrounding your house in a decent neighbourhood .. you're looking at the end of $200's (285, 295) starting and then going into around 345.

These prices I'm quoting are an average suburb. not water front or a "posh" area.

But I would say anything under 250, is either in a rough area, or a small plot of land, or further out from the city

When I first went to Redcliffe , a three bed brick home 15 to 20 yr old were selling for 150, this was two years ago - the same houses now sell for $260 (if you are lucky) and upwards

In the "decent" areas , ie closer to Brisbane, or near to the bay etc -these three and four bed brick homes are realy crammed in together with hardly an land around the home... no breathing room between you and your neighbours.
You need to look at the land area. What looks cheap is usually so for a reason. you would not get anything "decent" for under 250, $265 etc in my last area .. unless it was a very small plot of land with yes, a "decent' home on it, BUT really crammed onto the land hence taking up the garden space and having your neighbours house crammed up to yours. Some of these estates they really do cram them in, and look terrible.

Cheers

P.S as for rents , having been in rentals for the past 6 years - they keep going up, not down. my last home - the landlord has just put up the rent, I can't see any rents going down around me, they are going up if anything. Unless the rental market here is waiting for the "crash" in rental properties. I also can't see lots of rental properties.. no more so than a couple of years ago, but there again, I'm living in an area where there are not too many of these new housing estates which investors buy into.

Kiwipaul

Lets look at this $150,000 say it took you 12 months to build,(some builders advertise 12 weeks but lets be generous and not too geeedy) that means you've made $150,000 in 12 months tax free. To earn that as a wage you would need to pull $300,000 before tax.

If you could make this sort of money $150,000 tax free in 12 months, when are you starting on your next house??

Also it means you don't have to work, just watch the house go up, and spend 12 months on holiday and still earn $150,000. Their are not many families here generateing $300,000 income working.

See why I have my doubts, and I live here.

dotty

Thanks for that. However we were talking about house/land packages which in OZ means a brand new home just built on a plot of land, not old houses.

dotty

Most of Ceris profit gain would have been in the increased land value. I think in a previous post she said the land was $40,000 same land now could be between $100-$150,000.

She has made that money not by building but by buying land at the 'right time'.

pommie bastard

The lad cannot understand its land prices that drive up home prices in Australia , so buy the land and wait.
A growing population needs land and were do people want that land not 3 burbs back from the sea or in the so called country , get wise and invest in land .

Kiwipaul

PRECISELY. So why bother going through the hassle of building, just buy an establisted home, enjoy living their rather than having to rent, and watch the house (and land it's built on appreciate).

The profits are the same effective for buy and build or buy established and their is a lot less hassle buying established homes.

Thanks Dotty for confirming my argument.

New you'd see sence eventually.

pommie bastard

All the capital cities are growing so where do the good people live and buy these homes , the need is for prime land , you have lived in a bubble too long.
Perths land market is out stripping the housing market in increasing values , a prime block can double in value in less time than it takes to build a home on it.
The need to build your own dream rather than buy into some one elses is always going to be there , a cheap home on a good block can pull its value down.

dotty

Glad to have helped does this mean you want to kiss and make up with PB
:scared: Harmony on the board at last

Kiwipaul

The same block of land will go up by even more if their is a house built on it. Also you get to enjoy the pleasure of living in your own home in a prime location. Instead of having to rent somewhere and then pay CGT when you eventually sell the land.

My argument still stands buy ready built unless you have special requirements.