Share
35,472 Posts.
lightbulb Created with Sketch. 2863
clock Created with Sketch.
24/04/21
16:36
Share
Originally posted by Justis:
↑
Been a while since I have looked in here, is Massey (Tractor) and others that where predicting massive 50% drop in property values. As far as I know that never happen. We did see property values drop back a bit, as it does after a property boom but as usual they creep back up. More recently I have been looking at property values as talk has been saying they are going up, one house 70's built 3x1 730 sqm close by came onto the market as a close date sale with an indicative price of $465k. Close date came and sure enough under offer sign goes up. Been watching to see the sold sticker go on but it has not but yesterday I see it is sold, what took me by surprise was it sold for $550k. That is well over the indicative price it was advertised for. Looking at what else is for sale and I see the asking prices have risen quite a bit, another property close by 70's built 3x1 with bit of a granny flat out the back 720sqm they are asking $750k. Kid you not this place is quite ordinary, maybe they have just put a big price on it and may accept $100k less but even then. Note both those properties are zoned R30 so can be subdivided but existing homes would need major reno's to make then modern and retained So yet again we see property to be probably the safest investment
Expand
Yep, same old. All the doomers have been wheeled back into their caves until the next crash "event". Every time they wheel them back out, they are cheering a 10% correction, but don't mention the previous 30-100% run up....such is the mentality of those like Menta, Keen and Dents of this world. One thing that never changes much is... Mortgages go down Debt is fixed at purchase Rents only go up over time.