housing survey, page-70

dhuy,
double page spread about adelaide in the fin review.......weekend edition........suggesting it is about to boom
another article in both 'the age' and smh online today about the growth rates for property........big for inner suburbs,,,,,,several key property people suggest the growth is sustainable.........due to reduced levels of new property coming onto the market,,,, the decline in investors, ie the ones who buy props to rent out..........and the increased immigration...........
but they are suggesting to stay away from the outer suburbs....
now to surprise you all..............I rent in Melbourne, been renting here almost 20 years..........but the landlord is a real PR IC...........stunning location, which I have tried to buy, I work from a home office, so part of the rent is tax deductible, ie business use.....so its all very cost effective.........now looking to buy again.....and hoping some will panic and sell...........
PS......I was intending to move back to Albury in semi retirement......recently changed my mind..........its too hot up there, then its too cold, and boring.

........BUT I have several properties in ALBURY Wodonga.........tree change areas, bought all for average 140,000 in 2000 to 2002, all are in central Albury, current mv around 350,000, and one in Corowa that has done very well too.........the best thing I did was buy commercial in central albury in 2002 (had been looking for 5 years),,,,,,,retail shops, cost 250,000.......mv now about 1 million plus
my goal now is to sell the 'tree change' props and buy in Melb..well Toorak is the only place for me.........
oh and the shops income is my retirement money..........
it has been easy money in the past 7 years, I had bought and sold several other properties and tripled my money in the same period............
getting back to the the real discussion here, if property were to decline to the levels steve is suggesting,,,,,,then I will be looking at another bonanza.........but I doubt his predictions.........it will not happen in the inner city suburbs..........outer suburbs it might, but again location location location............depends where you are, it will not be across the board
cheers