the change in property, page-2

Hi Acorn

I am not that sharp in predicting future trends but for a number of years (as I have got older and felt this way myself) that our population may get over the 1/4 acre block thinking but yet still want house style living.

Following gut feeling I bought a couple of villas in a nice part of Sydney, near the water and about 15 kms from the CBD. Houses in this area generally go for well over $1.5 mil and upwards to $4mil or so. These properties are usually held by older people.

My thinking is that when they downsize they will still want to be in the area, cashed to the gills and want to by more simple accommodation (which is limited in the area) and won't care what premium they will pay as they have received so much for their property an extra hit won't matter if they find the right property in the area that they have lived for 50 years or so.

The last year or so it appears that this is finally happening.........we will see

regards