properties did drop 50 % in Ireland, page-33

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simonjb

2,760 Posts.

17/08/16

17:41

Post #: 18541772
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Originally posted by periform ↑

More than happy to discuss as i have said before my view is longterm good houses in the major cities will always be safe (longterm) by that i mean ,

Purchasing property to live in = no brainer, cant lose once ability to make repayments dont change ( loss of job etc)

Purchasing house as an investment = too much risk for the reward in my view. In my view australia could be at the peak of an up cycle ( possibly not ) but not a risk i would be willing to take for the return.
Rental returns dont justify the risk for me.
If the was a downturn i would batten down the hatches and tread water till it improves ( which i think australia would rebound very quickly from any downturn) and most of all dont get caught up in media hype and sell in a falling market. ( look at the longterm in property)

Many made that mistake in ireland only to see the properties they panic sold at a loss recover to be worth as much today.

Purchasing units as an investmemt= pure insanity!!!! Unlike your house which you did a reno and added value there is no opportunity to add value to a unit.
Rates, body corporate etc etc = more cost

Also when selling a house you have a big potential market.
Young couple
Young family
Middle age family
Young professional
Retired couple
Investor etc etc

Selling a unit,
Young couple
Young professional
Investor
And possibly but doubtful
Retired single/couple

The reason i purchased in ireland was very good return and also buying after a major crash .

Buy low , sell high

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Im not interested in a bear outlook in Australia I've heard that all before, I'm interested in where you have invested is it ireland?
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properties did drop 50 % in Ireland, page-33

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