OK it's very volatile around July - it rises steeply and then falls steeply.
If you used your eyes you wouldn't need a step by step commentary. The fact that it again rose and it again fell means that it followed the pattern, which could be driven by a number of local factors, it doesn't mean that rents have dived in the suburb.
The observation is certainly not pointless.
OK, I'll put on your analytics hat. "2 big spikes and 2 other spikes that look kind of big".
Draw your own conclusions about median rentals in each of those circumstances.
Bargains galore if you time it right. Then again, if you're not accountable for the rent, doesn't really matter. I'd imagine it would be a good location for expats.
Rufus
4 Oct 2016, 11:54 PM
It's a challenge for you isn't it.
Of course it's a challenge to imagine whatever's flowing through the mind of someone pretending they have some insight where there is most likely none.
Of course it's a challenge to imagine whatever's flowing through the mind of someone pretending they have some insight where there is most likely none.
Actually I'm not at all interested in imagining whatever's flowing through the mind of someone pretending they have some insight where there is most likely none.
Take risks - if you win you will become wealthy, if you lose you will become wise
Actually I'm not at all interested in imagining whatever's flowing through the mind of someone pretending they have some insight where there is most likely none.
Well that's good for you. And a good lesson for yourself. Much better that masquerading.
Tamarama is about 4 streets McMahons point is about 6 streets Castlecrag is quite an expensive closely held suburb with large properties very few of which are rentals Rodd Point is about 4 streets Haberfield is currently being quite adversely affected by Westconnex construction and compulsory acquisitions
Draw your own conclusions about median rentals in each of those circumstances.
I don't know about Tamarama or Rodd Point or Haberfield. But McMahons point and Castlecrag are entirely consistent with what is happening to rents in the suburbs between those two.
Speak when you are angry and you will make the best speech you will ever regret. Ambrose Bierce
I don't know about Tamarama or Rodd Point or Haberfield. But McMahons point and Castlecrag are entirely consistent with what is happening to rents in the suburbs between those two.
It may be that rents have fallen, but highly unlikely that they have fallen to the extent claimed in the article.
Do you have a better estimate. Can you throw out a realistic number for us to consider.
Take risks - if you win you will become wealthy, if you lose you will become wise
It may be that rents have fallen, but highly unlikely that they have fallen to the extent claimed in the article.
Do you have a better estimate. Can you throw out a realistic number for us to consider.
Of the properties I track, it ranges from 2-11% *, dependent mostly on the age/condition of the property. The new apartments have taken last year's top slot, and everything else has fallen in behind them.
Castlecrag rents have definitely fallen as claimed in the article. It is not particularly well serviced by public transport, and as soon as the new apartments came on-stream there was a rush back to the center. Similarly for McMahon's point. There is one ferry and one bus, and the ferry terminal is under repair.
Of the properties I track, it ranges from 2-11% *, dependent mostly on the age/condition of the property. The new apartments have taken last year's top slot, and everything else has fallen in behind them.
Castlecrag rents have definitely fallen as claimed in the article. It is not particularly well serviced by public transport, and as soon as the new apartments came on-stream there was a rush back to the center. Similarly for McMahon's point. There is one ferry and one bus, and the ferry terminal is under repair.
* Nominal. For real terms just add inflation.
That sounds more realistic. The claim of "up to 50%" just didn't ring true to me and they aren't supported by your estimate either.
thanks.
Take risks - if you win you will become wealthy, if you lose you will become wise
That sounds more realistic. The claim of "up to 50%" just didn't ring true to me and they aren't supported by your estimate either.
thanks.
As I said in a previous post, 4 new apartment blocks came on-stream late last year, early this year, and it looks like 3 more will be completed sometime next year. So I would expect another drop in rents next year of a similar magnitude for *existing* properties.
A lot depends on how many of the new units were purchased by Chinese investors who plan to leave the apartment empty. Great scam that one. Charge the Chinese 10 grand a year each to clean the pool. And it's still full of algae and leaves. In the scheme of things, if you pay $2M for a concrete dog box and prices are rising at 10% per year, then the $15K in strata fees hurts a little less. You are still making more than twice the average salary in capital gains, so why risk f***ing that up with a tenant.
Speak when you are angry and you will make the best speech you will ever regret. Ambrose Bierce
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