I believe property in Melbourne is overpriced at present, is it
a bubble that will explode, or will it stabilize for a few years and
let inflation work off some of the air, either way I would not be
advising anyone to buy at present because I cant see much value
It is only cheaper to buy than rent because of the lowest interest rates in
most peoples living memory, that house you were looking at has probably
increased in price circa 100k in the last 5 years or so, say from 250 t0 360k
the gross yield has probably dropped from around 6-7% to the current
5% in that timeframe, is it the house that is cheap or the interest rates
that are low?
I bought a house 14 months ago for 750k as ppor that was previously rented for over
800PW, (that property has now increased to easy over 900k, the last 12 months in
our area has just gone crazy) I think the outer east-south east suburbs maybe in
a blow off top at present IMO but will wait and see.
I am not saying dont buy the property, after all you have not linked the listing. if
its on a block bigger than 600sqm or future dual occ site it could be value...but
I am sitting on lots of cash at present because everything looks dear to me, maybe
I just need new glasses......nice rose colored ones
Though I have seem some beachside WA properties that are looking like they
could be good value proposition now/soonish
cheers grant
- Forums
- Property
- Amazing value
I believe property in Melbourne is overpriced at present, is it...
- There are more pages in this discussion • 15 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)