Australian Politics Forum - 21 % of capital city units selling at a loss.

Bobby.

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21 % of capital city units selling at a loss.
Jul 8^th, 2019 at 7:42pm

Why you shouldn't invest your cash in an apartment: The capital cities where the majority of units are selling at a loss

https://www.dailymail.co.uk/news/article-7223261/Why-units-BAD-investment-36-cen...

By Stephen Johnson For Daily Mail Australia

Published: 16:58 AEST, 8 July 2019 | Updated: 18:01 AEST, 8 July 2019

New CoreLogic figures show 21.4 per cent of capital city units selling at a loss
March quarter sales loss figures were the highest since the June quarter of 1997
In central Perth, 60 per cent of homes are selling for less than owner paid for it
More than 58 per cent of apartments in the Darwin market are selling at a loss.

The proportion of capital city units selling at a loss is at the highest level in 22 years and is expected to worsen.

New figures from real estate data group CoreLogic show 21.4 per cent of apartments fetched less than what their owner had paid for it.

In one city centre market, however, more than 60 per cent of properties are selling at a loss.

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Gordon Gold Member Offline Australian Politics Posts: 20228 Gordon Gender:	Re: 21 % of capital city units selling at a loss. Reply #1 - Jul 8^th, 2019 at 7:46pm The old bulletproof red bricker 2 or 3 story walk-ups are a good buy right now. Get in while sentiment is bad.
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Sprintcyclist

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Re: 21 % of capital city units selling at a loss.
Reply #2 - Jul 8^th, 2019 at 7:50pm

Bobby. wrote on Jul 8^th, 2019 at 7:42pm:

Why you shouldn't invest your cash in an apartment: The capital cities where the majority of units are selling at a loss

https://www.dailymail.co.uk/news/article-7223261/Why-units-BAD-investment-36-cen...

By Stephen Johnson For Daily Mail Australia

Published: 16:58 AEST, 8 July 2019 | Updated: 18:01 AEST, 8 July 2019

New CoreLogic figures show 21.4 per cent of capital city units selling at a loss
March quarter sales loss figures were the highest since the June quarter of 1997
In central Perth, 60 per cent of homes are selling for less than owner paid for it
More than 58 per cent of apartments in the Darwin market are selling at a loss.

The proportion of capital city units selling at a loss is at the highest level in 22 years and is expected to worsen.

New figures from real estate data group CoreLogic show 21.4 per cent of apartments fetched less than what their owner had paid for it.

In one city centre market, however, more than 60 per cent of properties are selling at a loss.

Wow.

I assume that is NOT taking into account legal fees, bank fees, agents fees, interest repayments and the opportunity lost cost.

That is huge

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Bobby. Gold Member Online Australian Politics Posts: 95298 Melbourne Gender:	Re: 21 % of capital city units selling at a loss. Reply #3 - Jul 8^th, 2019 at 7:51pm Gordon wrote on Jul 8^th, 2019 at 7:46pm: The old bulletproof red bricker 2 or 3 story walk-ups are a good buy right now. Get in while sentiment is bad. What's a "walk-up"?
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Bobby.

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Re: 21 % of capital city units selling at a loss.
Reply #4 - Jul 8^th, 2019 at 7:52pm

Sprintcyclist wrote on Jul 8^th, 2019 at 7:50pm:

Bobby. wrote on Jul 8^th, 2019 at 7:42pm:

Why you shouldn't invest your cash in an apartment: The capital cities where the majority of units are selling at a loss

https://www.dailymail.co.uk/news/article-7223261/Why-units-BAD-investment-36-cen...

By Stephen Johnson For Daily Mail Australia

Published: 16:58 AEST, 8 July 2019 | Updated: 18:01 AEST, 8 July 2019

New CoreLogic figures show 21.4 per cent of capital city units selling at a loss
March quarter sales loss figures were the highest since the June quarter of 1997
In central Perth, 60 per cent of homes are selling for less than owner paid for it
More than 58 per cent of apartments in the Darwin market are selling at a loss.

The proportion of capital city units selling at a loss is at the highest level in 22 years and is expected to worsen.

New figures from real estate data group CoreLogic show 21.4 per cent of apartments fetched less than what their owner had paid for it.

In one city centre market, however, more than 60 per cent of properties are selling at a loss.

Wow.

I assume that is NOT taking into account legal fees, bank fees, agents fees, interest repayments and the opportunity lost cost.

That is huge

It's massive loss for so many people.
Be careful.

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John Smith Gold Member Offline Australian Politics Posts: 72209 Gender:	Re: 21 % of capital city units selling at a loss. Reply #5 - Jul 8^th, 2019 at 7:55pm so 79% of units are selling at a profit. I'm currently looking for a new venture, I wish I was given those sorts of odds.
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Gordon

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Re: 21 % of capital city units selling at a loss.
Reply #6 - Jul 8^th, 2019 at 7:57pm

Bobby. wrote on Jul 8^th, 2019 at 7:51pm:

Gordon wrote on Jul 8^th, 2019 at 7:46pm:

The old bulletproof red bricker 2 or 3 story walk-ups are a good buy right now.

Get in while sentiment is bad.

What's a "walk-up"?

No lift.

Here ya go, $437K and rents for $430 a week. Sit back while the Indians and neg gearing pay for your investment.

https://www.realestate.com.au/sold/property-apartment-nsw-harris+park-130904654

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greggerypeccary Gold Member Offline Australian Politics Posts: 131492 Gender:	Re: 21 % of capital city units selling at a loss. Reply #7 - Jul 8^th, 2019 at 8:00pm Bobby. wrote on Jul 8^th, 2019 at 7:51pm: Gordon wrote on Jul 8^th, 2019 at 7:46pm: The old bulletproof red bricker 2 or 3 story walk-ups are a good buy right now. Get in while sentiment is bad. What's a "walk-up"? Units without an elevator, Booby.
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Sprintcyclist Gold Member Offline OzPolitic Posts: 39515 Gender:	Re: 21 % of capital city units selling at a loss. Reply #8 - Jul 8^th, 2019 at 8:00pm
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Bobby. Gold Member Online Australian Politics Posts: 95298 Melbourne Gender:	Re: 21 % of capital city units selling at a loss. Reply #9 - Jul 8^th, 2019 at 8:02pm John Smith wrote on Jul 8^th, 2019 at 7:55pm: so 79% of units are selling at a profit. I'm currently looking for a new venture, I wish I was given those sorts of odds. Gordon found a walk-up for you.
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John Smith

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Re: 21 % of capital city units selling at a loss.
Reply #10 - Jul 8^th, 2019 at 8:04pm

greggerypeccary wrote on Jul 8^th, 2019 at 8:00pm:

Bobby. wrote on Jul 8^th, 2019 at 7:51pm:

Gordon wrote on Jul 8^th, 2019 at 7:46pm:

The old bulletproof red bricker 2 or 3 story walk-ups are a good buy right now.

Get in while sentiment is bad.

What's a "walk-up"?

Units without an elevator, Booby.

https://i.pinimg.com/236x/59/f1/9a/59f19a80815581a223f23f4570394f9f.jpg

elevators are expensive to maintain. You need to allow for replacement of the motors etc every ten years or so. Last person who I spoke to who managed a building elevators was quoted 100K each for new motors (four in the building) ... imagine what that would do to your sinking fund and the 'special levies' Cheesy

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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John Smith Gold Member Offline Australian Politics Posts: 72209 Gender:	Re: 21 % of capital city units selling at a loss. Reply #11 - Jul 8^th, 2019 at 8:05pm Bobby. wrote on Jul 8^th, 2019 at 8:02pm: John Smith wrote on Jul 8^th, 2019 at 7:55pm: so 79% of units are selling at a profit. I'm currently looking for a new venture, I wish I was given those sorts of odds. Gordon found a walk-up for you. I didn't say I was looking for a property you dope.
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Bobby. Gold Member Online Australian Politics Posts: 95298 Melbourne Gender:	Re: 21 % of capital city units selling at a loss. Reply #12 - Jul 8^th, 2019 at 8:14pm Sprintcyclist wrote on Jul 8^th, 2019 at 8:00pm: That's a very upbeat video - suspect.
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Sir lastnail Gold Member Offline Australian Politics Posts: 29705 Gender:	Re: 21 % of capital city units selling at a loss. Reply #13 - Jul 8^th, 2019 at 9:43pm Bobby. wrote on Jul 8^th, 2019 at 8:14pm: Sprintcyclist wrote on Jul 8^th, 2019 at 8:00pm: That's a very upbeat video - suspect. They are all experts in hindsight
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Bobby. Gold Member Online Australian Politics Posts: 95298 Melbourne Gender:	Re: 21 % of capital city units selling at a loss. Reply #14 - Jul 8^th, 2019 at 10:31pm Sir lastnail wrote on Jul 8^th, 2019 at 9:43pm: Bobby. wrote on Jul 8^th, 2019 at 8:14pm: Sprintcyclist wrote on Jul 8^th, 2019 at 8:00pm: That's a very upbeat video - suspect. They are all experts in hindsight Your money isn't safe anywhere these days.
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