There is deals happening now in real estate and probably more to come if things continue.
I just got offered a residential development site for 1.5 mil, it was previous listed at 2.2 + mil, deceased estate, kids want there cut i suppose. Will they negotiate, defiantly, is it dirt cheap, not really, but its extremely well priced if that is what your into, building small townhouses in inner Melbourne.
https://www.realestate.com.au/property-house-vic-brunswick+east-132983666
Notice statement of info quoted price
I have seen in the commercial side quite a few developers pull out of projects and just as many do a 180 degree turn and sell decent sites.
One in inner west large factory on main road as flipped a few times recently, now its back on the market. Its an ideal site to bulldoze and put a bunch of small factories/warehouses on, then flick them off to SMSF's who are starting out, and or keep a few for rent.
For anyone who wants a sticky beak.
https://www.realcommercial.com.au/f...undary-road-laverton-north-vic-3026-503526074
https://www.realestate.com.au/property/8-little-boundary-rd-laverton-north-vic-3026
What does all this mean, I think people who have strong hands and have a low loan vs income will probably sit tight and hold on for the ride.
People who have really stretched out recently and or have had incomes drop, whether it be business, or passive income fall off a cliff will be looking to sell sooner rather than later.
Also have noticed a lot of people selling retails shops in areas where big premiums were vs income ratio. I think the smart money has realized retail is dead and tenants can not afford to pay 5K a month for a tiny crap hole of a shop.
Timmy
I just got offered a residential development site for 1.5 mil, it was previous listed at 2.2 + mil, deceased estate, kids want there cut i suppose. Will they negotiate, defiantly, is it dirt cheap, not really, but its extremely well priced if that is what your into, building small townhouses in inner Melbourne.
https://www.realestate.com.au/property-house-vic-brunswick+east-132983666
Notice statement of info quoted price
I have seen in the commercial side quite a few developers pull out of projects and just as many do a 180 degree turn and sell decent sites.
One in inner west large factory on main road as flipped a few times recently, now its back on the market. Its an ideal site to bulldoze and put a bunch of small factories/warehouses on, then flick them off to SMSF's who are starting out, and or keep a few for rent.
For anyone who wants a sticky beak.
https://www.realcommercial.com.au/f...undary-road-laverton-north-vic-3026-503526074
https://www.realestate.com.au/property/8-little-boundary-rd-laverton-north-vic-3026
What does all this mean, I think people who have strong hands and have a low loan vs income will probably sit tight and hold on for the ride.
People who have really stretched out recently and or have had incomes drop, whether it be business, or passive income fall off a cliff will be looking to sell sooner rather than later.
Also have noticed a lot of people selling retails shops in areas where big premiums were vs income ratio. I think the smart money has realized retail is dead and tenants can not afford to pay 5K a month for a tiny crap hole of a shop.
Timmy