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What are these 3% yield places people are talking about? Mansions?
$700k 2 bedroom units in Toorak rent for around $430-450pw.
~3.1% yield.
Possibly an extreme example (it's a real life one), but not a mansion.
Yes, unfortunately yields in Toorak are quite poor for some reason. Great value for renters, the apartment is beautiful. Oversized, city views, top floor, off street parking, trees and charm galore. 6km from the city but you can hear a pin drop on a Saturday night.
i.e. this place asking $485pw is probably worth over $700k - http://www.realestate.com.au/property-apartment-vic-toorak-412154723
$700k 2 bedroom units in Toorak rent for around $430-450pw.
~3.1% yield.
Possibly an extreme example (it's a real life one), but not a mansion.
Old houses in Beaumaris have a bad yield
Weatherboards that sell for around 800 - 1m
Rent out for about 450 - 500
So about 2.5%
I'm sure there's worse yields around but not many could lower that in the sub 1 million price range
Market has been flat since 2010 in Melbourne except for suburbs with good schools. Melbourne is due for a rebound you can buy a house for about $380k in western suburbs that is cheap, when the median is closer to 550K.
What can you get for under 350k these days in melb?
Hoppers
Werribee
Or you could chance your arm in Dallas, broady or st albans
270k for a 3 bed house
That's why i worry about all the threads on here about Logan /Elizabeth
These suburbs are almost proof that the bottom suburbs won't grow. And melbourne is a much more expensive city
Logan and Elizabeth are outer suburbs of Bris and Adelaide and hence are priced cheaper than other suburbs in their city. How is that any different to the suburbs you've mentioned, they're outer suburbs which are cheaper than their closer-in counterparts, too.
Hello forum friends!!
I wanted to get some feedback from some of you clever folk, regarding the state of the Melbourne market.
I have 3 properties, 1 in a leafy north eastern suburb, (purchased 16yrs ago) , and 2 in another leafy eastern suburb. All a units, in nice neighbourhoods, close to all amenities and relatively low maintenance. Their capital growth in the last few years(as with most in melb) has been very very average. The last two properties were purchased 6 and 4 yrs respectively and have seen an average growth of about 5%. Very hard to get moving when the capital growth is so slow.
What do you guys reckon; anybody think that we may see great growth in the next 12 months, or shall I cut some losses and move on. Argh!!! So hard!!
Awaiting your words of wisdom and feel free to ask questions!!
Thanks,
Tgan
What can you get for under 350k these days in melb?
What can you get for under 350k these days in melb?
What can you get for under 350k these days in melb?
http://www.realestate.com.au/property-apartment-vic-malvern+east-116424723What can you get for under 350k these days in melb?
As a melbournite and property investor in melbourne I am very optimistic for Melbourne...Places like Balwyn and Glen Waverley are clear examples of this, with a strong influence from our chinese friends...vicinity to station and transport and for our overseas friends....the number of the building and if its north facing...