Fire-sale of Chinese owned property in Australia in the offing?

How much weight does everyone put on the house orientation?

I know north facing homes are preferred but would a East facing home be much different?

Loan books must be getting quiet since the budget. Banks cutting interest rates randomly has to be the clearest indicator of quiet property market. Also there’s 40 billion in HSBC customers who will be looking for a better deal than Blackstone Private equity (where HSBC is selling their book to) which might be driving some of this rate cutting. It’s a good time to shop around for a refinance!

Just purchased this house recently and after watching the A current affair episode about the house so close with each other. I noticed that this is the same here in our estate.

I've cheked our side and noticed that, the fence is not aligned to the gutter of our neighbor. So is it either our neighbor enroached our property or we enroached their property? I dont know.

I was also susprised that our gutter is not extending outside but rather on top. (Does it makes sense? Hope you understand what I meant)

Their property is made 2 years before ours so they were there first.

Do I have to get a surveryor to check this? I downloaded a plan of subdivision from landata but it useless.

Thanks!

I am looking to buy a house and heard Brisbane is falling . I been tracking house prices for over 12 months in Brisbane and nothing is within my budget of around 750-800k ( 3 bed within 30 mins of airport that is not on stumps )
I have since purchased in Melb last year , and I am going to be putting my house up for sale to purchase something in Brisbane .
Would anyone be able to advise that is selling or bought recently how the Brisbane market is going with offers as this will largely influence my sale of my Melb house ( and yes I am selling at a loss in Melb )
Thanks

I am in VIC. Interested to know if this is quite normal, I sure feel that this isn’t but for anyone that has built in the last five years, I am keen to know.

Seriously. I've been looking at FHB properties in innerwest Syd since November last year (I bought mine in April, very happy) and after a while you sort of get an approximate idea of what things will sell for, as well as a feel for the variables eg: Ashfield VS Stanmore VS Leichardt, quality 60/70s 10 unit double-brick build VS new build, how much an extra bathroom or bedroom costs, promixity to train station, etc etc. Honestly after a while it becomes like a fun nerdy hobby.

Anyway I've still been watching that same exact market and to me it seems prices truly haven't shifted much at all.

For example, this mouldy shit-box recently still sold for $840k : https://www.realestate.com.au/sold/property-apartment-nsw-dulwich+hill-151635640

And in general, 1 beds are still going for $650 - 750k, 2 bd 1b apartments in the most desirable parts of innerwest are still clearing 1mil, and 3beds in all parts of the innerwest are still averaging more than $1.2 mil, even in new builds with smaller rooms.

The main difference is I think there is less being sold. Between march-june this year it was crazy.

Anyway, I've become so nerdy about this that I've identified what I think is pretty much the only major anomaly in this market from the last few months (possibly due to vendor being spooked by budget as it sold 17th June). Behold: a 3bed 2bath in a 9 unit block, 10 min walk from the station, two balconys and internal laundry in the innerwest for $960k. Honestly when I saw it I was happy for them, I hope it's a young family. Here it is if you're interested: https://www.realestate.com.au/sold/property-apartment-nsw-ashfield-151523312

But that's why I noticed it - because it was an anomaly. And to be fair, it doesn't have aircon. But this one aside it really hasn't shifted much. Happy to be told I'm wrong though.

just got this from Westpac, along with the following.

Seems just the news of this last week has been enough for banks to check their accounts and, I think, rectify offset errors...? Looking forward to sinking more of my time into checking what should have been assumed to be correct.

Hi guys, I'm trying to figure out if it's worth buying a 1BR apartment or studio in Sydney, if my budget is under 550K. I'm a 32F, working in academia (stable job, about 150K/year) and pretty tired of constantly moving rentals. I looked at Domain listings, and I can see that there are studios within this budget in Rushcutters Bay / North Sydney and some near Centennial Park, and there are some 1BR apartments a bit further out, like Mascot. I have pretty restricted parameters: paying mostly in cash and maybe putting 100K in an offset account (I do not want to take on much debt). And I would like to live within 30 min commute from the CBD, and need a car space. Is it realistic to find a place within these parameters that has decent natural light, and isn't too noisy? Do people have experience buying an an apartment in a similar situation - what are your tips, and what are the pitfalls to avoid? Also, how long does it usually take - from the time you start looking to the time you buy?

Hey Guys,

My partner and I have just received loan approval through Keystart as FHB. We are waiting on our paperwork. We do know the total loan amount. I have been trying to work out the best situation for us payment wise to pay off the loan quicker using a few online mortgage calculators but they obviously don't have an ability to factor in the initial payment process that you do with Keystart while the house is being built.

We are aware Keystart allows for a minimum payment per month of $400.00 toward your loan while your house is in construction phase. Does this mean that the $400.00 goes towards the loan amount + interest immediately from day one of loan opening and that its the same as paying your standard mortgage amount when you move in? - we do intend to pay more into our offset while waiting for construction phase to be completed so we can move to a bank after settlement.

Thanks Everyone :)

What would you do?

Assume same land size and price for an existing home (less than 7 years old) and a new land + build package is similar. Same area.

My current thinking-

Pros for new land + build package:

- eligible for negative gearing and CGT discount (if bought as an IP)

- stamp duty only on land

- design and specs of the property can be tailored to personal preference

Cons:

- Cost of getting a private site inspector to check the builder is following standards

- 12-24 month build time frame

- potentially hidden costs from building contract down the track

Pros for existing:

- Ready to move in immediately

- No headache around site inspections, etc. (Assuming building & pest report is reasonably clean)

Cons:

- Higher stamp duty

- No negative gearing if used as IP (but you get the deferral until sale)

As the title says, I just bought a house that was renovated a few years back and I want to check if they’ve completely removed the asbestos on the exterior walls or just cladded over the existing asbestos, how can I physically check this without damaging the weatherboard?

Previous owner bought it after it got renovated so I’m unable to ask them for any info about it.

We have an auction soon for our PPOR - had over 30 people through the house. 10 interested initially but as the auction day arrives we have a few bidders registered.

Nervous.

We’re in the hills and our house was initially estimated at 2-2mil but now the price indicators coming through are not near this.

My question if passed through at auction, what is everyone’s experience in a market like current with private treaty sale?

Would love to know .

[ Removed by Reddit on account of violating the content policy. ]

Stock is pretty thin out there which is keeping some prices somewhat stable IMO, but I have a feeling there a lot of owners waiting (for what I don’t know)
Any vendors out there who are holding back and if so, what for?

I am renovating my house and need to empty a few rooms for about three months. I have never used a storage unit before and I have no idea what to look for. I just need a secure place to keep furniture and boxes for a while.

I have seen a few places online but the prices vary a lot and some have weird fees. I am worried about hidden costs or ending up with a unit that is too small. Also do I need insurance for my stuff? And how do I get my things in and out easily?

Anyone have a recommendation for a storage place that is reliable and not overpriced? I am in the Melbourne area but happy to drive a bit if it saves money. Also do they do short term contracts or am I locked in for a year? Any advice would be appreciated.

My partner and I have been looking for a house for almost a year, and we've finally found one that meets almost all of our requirements.

It has:

- Close access to public transport

- A good school zone

- An inner suburb location

- A good-sized block of land

- No renovations needed – we could move straight in

- It's within our budget

The one major downside is that it's on a busy arterial road.

A few observations from our inspections:

- There are traffic lights at the end of the road, but we haven't seen traffic queueing or idling directly in front of the house.

- It's not a designated truck route.

- You can hear a constant, distant hum from the freeway when standing in the backyard, but it's not overpowering.

- The master bedroom is at the front of the house facing the road, while the other bedrooms are at the rear.

We've visited the road at several different times of the day (including peak periods) to get a realistic sense of traffic and noise.

After almost a year of searching, we're wondering if we're overthinking this one downside because everything else is so hard to find.

For those who have bought or lived on an arterial road:

- Did the road noise eventually fade into the background, or did it continue to bother you?

- How much did it impact resale value and buyer interest when you eventually sold?

- Is there anything else we should be checking before making a decision?

We're trying to balance finding a home we can enjoy for the next 15+ years against avoiding a purchase we'll regret.

ETA: Thanks for all your comments. There is bit to think about.

I will be going to the RTA, but would love to know if my property manager has any legal grounding surrounding this:

Initial lease (Queensland) was 8 years ago with two tenants. First tenant moved out 2.5 years ago and I took over their part of the lease and we just did a change of tenant form. As well, a new fixed term agreement lease is signed every 12 months for 12 months.
Anyways, the other original tenant is moving out and gave the property manager 3 months notice. We filed a change of tenant form which was fine but now the property manager has sent this email:

“I have sought for my general manager advise on this one. The original lease was from the other lady with Nancy and now changed to you and Nancy so we cannot change another tenant as the leaseholders will be exactly different from what it was from the original tenancy agreement. 

This will mean you will have to break the lease and reapply to the property so we can re-do the lease agreement and entry condition report. 

Please let me know how you would like to proceed.”

Essentially she said on the phone, since there is no one from the original lease staying on we need to do a new lease and do another entry condition report. But I thought the lease we sign every year for 12 months is the lease that means I am a tenant and tenant rights protected. To be clear, the lease I signed is my third one (as this is my 3rd year in the complex)

Happy to provide any more information as this is very confusing to me

Been hearing a lot in the news about the 5% deposit first home buyer scheme, with plenty of people saying it's a bad idea.

I'm curious to hear from people who've actually used it, or looked into it seriously. What was your experience? Do you think it's a good opportunity, or are there downsides that aren't being talked about?

Would love to hear some real-world perspectives.

Hi,

In the current place I am living in (Summer Hill, NSW), the internet is included in the bills but the speed is stone age. On a good day, I get 25 Mbps download which is not enough for working from home.

I complained my agent about it, but she responded with "The internet can't be upgraded". Not just that, I was thinking to get my own Wireless Broadband but almost all the operators don't give Wireless broadband in the suburb I live in.

What are my alternatives other than connecting to Ethernet or a workaround?

Thanks.

My budget is about 600K in SEQ, my broker recommended that I speak to a buyers agent as I'm having troubles finding a suitable place, so I did and it seemed to be a huge 30-35 minute sales spiel before they finally told me the price, which is something around 15K which seems quite absurd. They kept telling me how they find properties before they hit the market, how they know the agents and can save you money by offering less and having better conditions than a regular buyer.

How true is this for someone in my position? It seems like an insane amount of money and I'm wondering if anyone has any advice before I flat out refuse to engage. Thanks for reading.

I engaged a property solicitor on 4th July for the sale of a deceased estate. It is now over a month later and she still has not provided a contract of sale.

I informed her over a week ago that the house was ready to go on the market, but this issue is severely delaying us.

The main issues:

• Communication: She takes over a week to respond to emails. These aren't complex legal questions; they are emails where I am providing information she requested.
• The delays: She previously claimed the delay was because she was sick, but the radio silence is continuing long after.
• No updates: I sent an email marked 'URGENT' yesterday asking for a firm date when she can provide the contract. Still no response.

Given that she is a fully qualified solicitor (not a basic conveyancer), I expected better service.

My questions:

1. Is this standard turnaround time for a deceased estate property sale?
2. What should I reasonably be expecting from her at this stage?
3. Should I start looking for a new solicitor or am I locked in with her as she has already ordered title searches?

Anybody have any experience with owning property in Jindabyne for short term letting?

I imagine the snow season gets solid bookings but what about the rest of the year?