Hi there,
I have been surprisingly busy over the summer period where most real estate agents are either on leave or are twiddling their thumbs. As a result I had no time to actually create my latest newsletter, but now that I’m back on air I’ll ensure that this newsletter goes out every month in 2010. Here’s the March edition. Enjoy!
Peter Konidaris
0421 274 996
Property Consultant
Hodges Mentone
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March 9, 2010 at 5:05 am |
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April 27, 2010 at 11:50 am |
How can some-one afford to buy inner-city with prices close to one million dollars..?
Either you have a sugar-daddy, are a gold-digger or a white collar criminal to be able to do this or have inherited wealth/property along the way.
The sad reality is there is a polarization of wealth in Melbourne and the rich are getting to be able to buy inner-city or are smart to buy in Hot spots!
April 27, 2010 at 12:10 pm |
Although this article doesn’t discuss inner-city affordability, we all have to start at the bottom of the property ladder… if you’re just starting off now and you think it’s all doom and gloom, then this isn’t necessarily the case.
Statistically speaking real estate is a sure thing as an investment, provided you can meet your mortgage repayments. Unfortunately for some, these so called “hot spots” are not necessarily in your dream inner-city locations, but moreso in the outer suburbs of Melbourne, within 50km of the city.
On average your property will double in value in approximately 7 years (sooner if you’ve found a hot spot).
Those who procrastinate and complain about property prices just find themselves falling further and further behind. Property prices aren’t going to fall. The GFC only saw the market fall about 4 or 5% in most areas of Melbourne. Since then we have gone up a further 15%.
And if you don’t want to take the advice of a real estate professional, then go and find one of these smart investors of which you speak, i’m sure they’ll tell you the exact same thing.
Peter K.
April 29, 2010 at 12:24 am |
Thanks for that Peter….much appreciated