Hi Warnie, sister just sold Cairns property, it tripled in price in 5 years, and she bought a place in central NSW, at a very depressed price....but the drought is breaking there, so the price may triple...if she decides to sell.... coming home to her old nest....to retire early....cannot believe she would leave her beloved Cairns...hot all year round...to battle the highest and lowest temperatures in the new place... she was a former renter...took 5 years to convince her of the merits of owning.....she knows that now....laughing all the way to the bank.... she took our advice and bought a bargain to begin with...then did some cosmetic reno's....did not spend much money....paid down her small mortgage...
the new one is a big reno job, but comfortable to live in now...on a huge double sized block of land.....and surrounded by homes over 300k's... oh and she would have had to work very hard for a long time, to earn anything like the profits (tax free) she just collected....
ps I think the GDP is a furphy...numbers are wrong, and ANZ boss says too early to raise rates...economy is not out of the woods yet...then the article in the Australian... about Sydney prices, red tape etc...costs increased by 40% in building costs for a new home... anyway...we won the debate past 2 years about where house prices would go...so I will be spending more time on other matters that need my attention... its been fun while it lasted cheers
