418 for sale around Coombabah
10/17 Yaun Street, Coomera
Sold $295,000 in Sep 2017
78 Days on Market
Last Sold $289,000 in Jan 2012
Getting so close now to a sale at or under last buy price. This one was previous!y bought at the lowest point of the market too
Select to expand quoteAdriano said..
Indeed it would, but not if NG was only removed from established property, as planned by the Labor opposition.
Removing NG from established property is sound economic policy and would discourage benignly this incessant pursuit of profit from established residential property at the expense of everyday Australians.
Sound economic policy? Because u agree with it? No "I feel or I think?
There are other places in Oz other than Syd or Melbourne. What impact would removing NG have in Bundaberg, Darwin or Dubbo oh Oracle?
At the expense of everyday Australians? It's everyday Australians that use NG. The very wealthy have other opportunities open to them NG is one of the few avenues the heavy lifters (middle Australia, y'know the ones who earn just enough for no handouts and play plenty of tax with no business write offs) that can get ahead. 1 in 3 police have IP's. Everyday Australians. If u can't afford an IP as an architect then your doing something wrong. How about we stop artificially pump priming the economy and the Sydney and Melbourne housing market with migrants.
Select to expand quoteHaircut said..
418 for sale around Coombabah
10/17 Yaun Street, Coomera
Sold $295,000 in Sep 2017
78 Days on Market
Last Sold $289,000 in Jan 2012
Getting so close now to a sale at or under last buy price. This one was previous!y bought at the lowest point of the market too
Lack of information there about the condition of the unit and the rest of the block. Tenants might have put a bit of wear and tear on it.
And if any property would be expected to depreciate it would be a unit. The whole building ages and the collective owners have differing attitudes to how that should be dealt with. Those who favour less maintenance will bring the price down for everybody.
Select to expand quotemyusernam said..There are other places in Oz other than Syd or Melbourne. What impact would removing NG have in Bundaberg, Darwin or Dubbo oh Oracle?
Why would anybody NG in the boonies? It only makes sense if you expect capital gains. That means you expect demand to outweigh supply.
So a few people made a killing by getting in ahead of the mining boom in the Qld coalfields and Pilbarra expansion, and a few other people are sitting on big losses after believing that buying fibro shacks in places like Emerald for $1m made sense. I remain amused by the Qld real estate investor of the year who bought up big on borrowed funds and is now the proud owner of a collection of said shacks with no prospect of selling them for anything like what she paid.
Select to expand quoteMr Milk said..myusernam said..There are other places in Oz other than Syd or Melbourne. What impact would removing NG have in Bundaberg, Darwin or Dubbo oh Oracle?
Why would anybody NG in the boonies? It only makes sense if you expect capital gains. That means you expect demand to outweigh supply.
So a few people made a killing by getting in ahead of the mining boom in the Qld coalfields and Pilbarra expansion, and a few other people are sitting on big losses after believing that buying fibro shacks in places like Emerald for $1m made sense. I remain amused by the Qld real estate investor of the year who bought up big on borrowed funds and is now the proud owner of a collection of said shacks with no prospect of selling them for anything like what she paid.
theres plenty of property millionaires who invested in the boonies.
Steve mcnight for example.
The boonies gives u good yield. (ok bundaberg is a shxthole but it was an example)
There are many regional centres worth investing in.
Select to expand quotemyusernam said..
theres plenty of property millionaires who invested in the boonies.
Steve mcnight for example.
The boonies gives u good yield. (ok bundaberg is a shxthole but it was an example)
There are many regional centres worth investing in.
Are you sure that he uses NG? If the yield is good, only slightly better than interest payments, then NG doesn't occur.
An Example.... Borrow at 5% for 80% of the purchase price. Rent yield on 100% of the price only has to be 4% to cover the interest.
Select to expand quoteMr Milk said..myusernam said..
theres plenty of property millionaires who invested in the boonies.
Steve mcnight for example.
The boonies gives u good yield. (ok bundaberg is a shxthole but it was an example)
There are many regional centres worth investing in.
Are you sure that he uses NG? If the yield is good, only slightly better than interest payments, then NG doesn't occur.
An Example.... Borrow at 5% for 80% of the purchase price. Rent yield on 100% of the price only has to be 4% to cover the interest.
steve mcnight? no he used PG.
But you can use NG for any investment, and it doesn't have to be interest only. If you use NG with P&I then u dont really have to worry about growth. It will happen sooner or later, and eventually u will own the asset (NG benifit decreases over time, just get more)
Select to expand quoteHaircut said..
418 for sale around Coombabah
10/17 Yaun Street, Coomera
Sold $295,000 in Sep 2017
78 Days on Market
Last Sold $289,000 in Jan 2012
Getting so close now to a sale at or under last buy price. This one was previous!y bought at the lowest point of the market too
Must have been a Vicco that went to an investment seminar and got done over, at least it went up, that"s amazing right there!
I'm not sure how accurate this is, but if it's true, things could go pear shaped rather quickly:
www.businessinsider.com.au/interest-only-loans-problem-australia-2017-10
"there appears to be in the neighbourhood of A$1 trillion of interest-only loans on the books of Australian banks."
Normally interest only loans is a good way to set up investment loans because you can have off set accounts and have more access to excess funds. Also tax plays a part in having interest only loans.
The real question is how many people are on interest only loans because there maxed out.
Select to expand quoteCambodge said..Harrow said..
The simple fix is:
1. Get rid of negative gearing on residential property.
2. Make citizenship a pre-requisite for owning residential property.
And whole they're at it, fix the stamp duty bracket creep debacle....an ordinary family shouldn't need to save for years to be able to afford to move to a home similar in value to what they have now.
I agree with you on No. 2.
No. 1. is more tricky. It's a basic principle that the costs of seeking an investment return should be tax deductible in the same way that the profits from that investment are taxed.
The asymmetry comes about because the costs (read interest payments) are tax deductible at your full marginal tax rate whereas the (assumed) capital gain is taxed at half your marginal tax rate.
The tricky part re: citizenship would mean that all Permanent Residents would be forced to rent. That's a very major disincentive when trying to attract skilled labour into the workforce for the benefit of the overall economy.
How about this for a solution... Incomes and expenses are siloed so property investment costs can only be offset against property investment income, share investment costs can only be offset against share investment income, etc. That would remove the inequality where high earners in high tax brackets get a greater benefit from negatively-geared investments.
That's how they do it overseas. Siloed.
Everything you've both said makes, perfect, rational sense. Unless you're a politician.
53 Broadwater Street, Runaway Bay
Sold $520,000 in Oct 2017
Last Sold $517,000 in Nov 2007
Rent $450pw in Oct 2015
House: 3 
1 
3 
Land size: 531 sqm [Measure]Build year: 1970Agent: First National
^ Ha, my mate used to live there when I was a teenager. His dad would have built it in 1970.
We'd take our tinnies and visit our friend that lived in a house all by itself on Ephraim Island. Sovereign Islands was a couple of sand bars.
That would be nostalgic.
They wanted offers over 620 in March 2017. Things have slowed down a fair bit up this end. Prestige properties still going okay, but total sales per month are about half what they were same time last year
Over 620 in March 2017?! That's crazy! No wonder it didn't sell. Tell him he's dreamin'.
You can buy a waterfront house at Runaway Islands for 900.https://www.realestate.com.au/property-house-qld-runaway+bay-126302842
www.realestate.com.au/property-house-qld-runaway+bay-126026766
www.realestate.com.au/property-house-qld-runaway+bay-126806278
www.realestate.com.au/property-house-qld-runaway+bay-126363834
Take with salt as always, but with the doubling listed and and half sold something was going to show up on stats eventually
www.domain.com.au/news/brisbanes-house-prices-are-down-again-but-will-they-keep-falling-20171011-gyyii3/
Select to expand quoteHaircut said..
Take with salt as always, but with the doubling listed and and half sold something was going to show up on stats eventually
www.domain.com.au/news/brisbanes-house-prices-are-down-again-but-will-they-keep-falling-20171011-gyyii3/Select to expand quoteThe Gold Coast, which has been the jewel in Queensland's property crown this year, saw prices fall for the first time in two years. The median price fell by 1.7 per cent, although prices are up overall for the past 12 months by a healthy 6.1 per cent.
The median price is the median price so it is affected by the price of newly built property. That is, if a whole stack of cheap homes are built and sold then the value of all homes can go up, while the median price goes down. And vice versa.
You have to really look at previous sale prices, like you've been doing.
On an ...I'm forgetting words today; when you have a very small, biased sample of data ... anecdotal note here is a collection of streets that always has homes for sale. Literally always. I have never, in fifteen years, seen it completely devoid of a single home for sale. The average turnover for this area is 3 years.
It's very unusual.
I know that area intimately. Saw it last night and thought exactly the same thing, although it's seen a number of ex rentals become owner occupied over the last 12 months. Other parts of older and cheaper Helensvale have done the opposite. Monterey keys has been a hot little patch, especially for Harcourts
What's your take on it being devoid of listings there at the moment?
^ I've honestly no idea. Stumped.
If you buy there we might be neighbours. ...are you following me?
Might see you at Chrissy; on an outgoing tide and a SE'r : )
Driving up.
Orsm. Wind hasn't been exactly great so far though. Hope it improves
Where in that area are you looking? To live or an I.p.?
Lol my first house was at number 68 the peninsula. Interesting area but in the end too far by boat to TOS once you deal with the lock that was always broken. Lots mossies on the creek side too but not too bad on lake side. Muddies out of the creek was always a bonus too. Good times but if you can afford it go sea side of the locks is my tip.
Yeah it's a long slow trip by boat from there. I don't think I'd buy a waterfront in there just for boating
