Oz interest rates
Apr 9th 2004, 12:37 pm
#16
BE Enthusiast
Joined: Oct 2002
Posts: 875
I'm not too concerned about any potential crash in the property market. I think certain sectors of the Oz property market are vulnerable ie. the inner city apt., but this has been stated in the media for a long time as being the first to go down as it is an overpriced market.
For those buying single dwellings in SE Qld, I don't think there is a lot to worry about. With the population influx, this area will stay strong.
For those buying single dwellings in SE Qld, I don't think there is a lot to worry about. With the population influx, this area will stay strong.
Apr 10th 2004, 11:33 am
#17
Joined: Aug 2003
Posts: 11,149
Just watch out for the Melbournian neighbours.
http://www.theaustralian.news.com.au...5E2702,00.html
'Don' burnt in coast land deal
By Natalie O'Brien, Investigations editor and Andrew Fraser
April 10, 2004
NOT even Dominic "The Don" Gatto was able to withstand the wiles of the Gold Coast's infamous white shoe brigade when it came to property deals.
The leader of Melbourne's so-called Carlton mob and an alleged enforcer for property marketing deals in Queensland, who is now in custody accused of murdering bodyguard Andrew "Benji" Veniamin, has lost out in a multi-million-dollar land deal gone wrong.
Gatto's decision to enter the tourism property market on the lucrative Gold Coast strip cost him at least $60,000 in cash and helped push his company, The Gatto Group, into administration when he lost the right to buy the land.
But it hasn't just gone wrong for Gatto: the syndicate that agreed to sell the land to Gatto is so fractured it's being administered by a trustee, and one of the members is being sued in a separate action by one of Gatto's associates over a debt that somehow blew out from $22,000 to $900,000.
One insider privy to the negotiations for the chunk of riverfront land at the fast-growing Tweed Heads said it was rather "surreal" dealing with the man reputed to be one of Melbourne's most notorious characters.
http://www.theaustralian.news.com.au...5E2702,00.html
'Don' burnt in coast land deal
By Natalie O'Brien, Investigations editor and Andrew Fraser
April 10, 2004
NOT even Dominic "The Don" Gatto was able to withstand the wiles of the Gold Coast's infamous white shoe brigade when it came to property deals.
The leader of Melbourne's so-called Carlton mob and an alleged enforcer for property marketing deals in Queensland, who is now in custody accused of murdering bodyguard Andrew "Benji" Veniamin, has lost out in a multi-million-dollar land deal gone wrong.
Gatto's decision to enter the tourism property market on the lucrative Gold Coast strip cost him at least $60,000 in cash and helped push his company, The Gatto Group, into administration when he lost the right to buy the land.
But it hasn't just gone wrong for Gatto: the syndicate that agreed to sell the land to Gatto is so fractured it's being administered by a trustee, and one of the members is being sued in a separate action by one of Gatto's associates over a debt that somehow blew out from $22,000 to $900,000.
One insider privy to the negotiations for the chunk of riverfront land at the fast-growing Tweed Heads said it was rather "surreal" dealing with the man reputed to be one of Melbourne's most notorious characters.
