Post to Facebook on 31/10/2019 3:16 AM
Commenting on “Outer suburbs lead Melbourne property sales freefall”
Posted to The Age (30/10/2019) on 31/10/2019
Commenting on "Outer suburbs lead Melbourne property sales freefall"
https://www.theage.com.au/politics/victoria/outer-suburbs-lead-melbourne-property-sales-freefall-20191030-p535vz.html
The turnover of properties was crazy before the bust, and it is not unexpected that many property owners are holding back to ride out this bad time.
Most real estate investors do not buy and sell properties like they do with shares, because the costs of transacting are very high. Furthermore, an owner who sells his primary residence within a year is subject to capital gains tax.
The outer suburbs are where you can find lower price range properties, and it is stupid for anyone to put a low price property in market now, especially housing affordability is in a crisis situation. Where are these sellers going to move to?
A few weeks ago many articles surfaced with writers beating their chests to say that the median prices are rising. Well, if the lower price properties are not available, it leaves with properties of higher values enter the market.
Please DO NOT just let your fingers do the walking. You really need to visit some real estate agents, and see what they can do to help you find a suitable home. In the worst case, why not knock on the door of a property that you have set your eyes on. The owner can only say no.
By the way, read the articles and you may want to drive to some of the suburbs mentioned.
Thank you for reading.
Commenting on “Outer suburbs lead Melbourne property sales freefall”
Posted to The Age (30/10/2019) on 31/10/2019
Commenting on "Outer suburbs lead Melbourne property sales freefall"
https://www.theage.com.au/politics/victoria/outer-suburbs-lead-melbourne-property-sales-freefall-20191030-p535vz.html
The turnover of properties was crazy before the bust, and it is not unexpected that many property owners are holding back to ride out this bad time.
Most real estate investors do not buy and sell properties like they do with shares, because the costs of transacting are very high. Furthermore, an owner who sells his primary residence within a year is subject to capital gains tax.
The outer suburbs are where you can find lower price range properties, and it is stupid for anyone to put a low price property in market now, especially housing affordability is in a crisis situation. Where are these sellers going to move to?
A few weeks ago many articles surfaced with writers beating their chests to say that the median prices are rising. Well, if the lower price properties are not available, it leaves with properties of higher values enter the market.
Please DO NOT just let your fingers do the walking. You really need to visit some real estate agents, and see what they can do to help you find a suitable home. In the worst case, why not knock on the door of a property that you have set your eyes on. The owner can only say no.
By the way, read the articles and you may want to drive to some of the suburbs mentioned.
Thank you for reading.
