Hi Skol,
Seeing how youaresucha fanofrealestate andpreferowningitinsteadofholdingGold.
Iofferyouthisfollowingexample.
Earlyin2021Iattendedanauctionofa Brisbanecityapartment I wasinterested in. IthoughttheplacewaswortharoundAUD $1,000,000.00. Icameveryclosetobiddingattheauction;however,astherewherenobidsatall fromthesixtyorsoinattendanceIrefrained.
AsithappenedhereinBrisbanealthoughtherewerenobidstheauctioneercalledoutanallegedvendorbidofAUD $1,500,000.00. Thelocalpaper reportedthattheapartment hadbeenpassedinat $1.5M. Thisispar forthecourseinthedodgyworldofrealestateinQueensland.
Theapartment iscurrentlyonthemarket(2025)askingforoffersoveronemillion. Iamnotsureifitchangedhandsinthe interim.
Had Iwantedto raise$1Min2021IwouldhaveneededtosellsomeofmyGoldholding.
GoldatAUD$2,250.00perounceIwouldhavehadtosell444ouncesofGoldtoraise$1M.
I amstillinterestedintheapartment;however,forthemomentIwill continuetoholdontothe Gold.
Bythewaytoraise$1MattodayspriceofGoldIwouldonlyneedto sell208ouncesofGold.
TrueenoughImadenointerestonmyGoldI havesmallannual fee forsecurestoragethatletsmesleepeasy.
AsIhavesaidoften,IholdGoldasinsurance andprotectionofmyfuturepurchasingpower. Hasthisworkedformeyoumayask.
AstheconversionfromphysicalGoldtoAUD$1,000,000.00hasreducedbyover50%between2021and2025I wouldsayyes.
Iguessbricksandmortarhavebeenagreatinvestmentovertime;however,somethingyoumayneedtoheedof,hereinAustraliaitisgrowingoutofreachforthecurrentgenerationofhomebuyers.
Thisthenbegs thequestioniftheboomerslikemeandIsuspectyouifthecurrentgenerationcannotbuyour$1Mhomeswhodowesellthemto?
ItheUK(Ispendhalfmytimethere)thingsaregetting evenharderforthenextgenerationofBritishhomebuyers.
“Lloyds plans big move into UKrental market with 50,000 homes.”
Lloyds plans big move into UK rental market with 50,000 homes |Lloyds Banking Group | The Guardian
Lloyds Bank's private landlord arm buys over 150 more houses
Unfortunately for the current UKhome buying generation, they will find it difficult to enter the property market.
Especiallyifyouconsidertheyarecompeting with bigbanksonfarfromalevelplayingfield. Thebankhasaccess tomoneyunder2%andthecurrentpotentialbuyersneedtopayaround8%
Below is from the Lloyds Bank website.
Bank of England Base Rate – useful Information
On 06 February 2025 the Bank of England Base Rate went downby 0.25% from 4.75% to 4.5%.
So, from 01 March 2025 we’re changing our lender variable rates.
oLloyds BankHomeowner Variable Rate willgo from 8.24% to 7.99%
oLloyds Standard Variable Rate will go from 6.75% to 6.50%
oLloyds Buy to let Variable Rate will go from 9.09% to 8.84%
WhenItalktopeopleintheUKsomesaythebanksbuyingsingledwellinghomesisjustgoodbusinesspersonally,I feelitiswrongonsomanylevelsIwouldgosofarastosayIbelieveit isimmoral.
10Year Gold Price History in Australian Dollars per Ounce
Cheers.
