A- A A+

Buyers snap up properties in Sydney and Melbourne weekend auctions

AFR |  12 February 2017  |  Investing

In Sydney, buyers left empty-handed at the close of the auction season last year were snapping up unrenovated houses or properties without nearby amenities such as train stations at record prices.

A 634-square metre, three-bedroom unrenovated original 1930s home at 5 Amaroo Avenue, Strathfield with no convenient public transport services sold for $2.3 million on Saturday, through Richardson & Wrench's Paul Galassi. The home, three kilometres from Strathfield station, sold for $700,000 eight years ago.

"There is no snobbery any more," R&W chief auctioneer Peter Baldwin said.

"People are not looking at social pages and saying 'I want to live there' ... they are thinking 'I want the land, I want the house...we can make it work here'."

Read more: http://www.afr.com/real-estate/buyers-snap-up-properties-in-sydney-and-melbourne-weekend-auctions-20170212-guaxj4



Similar articles from Investing

Investment loan rates are widening, shows Smart Investor's chart of the moment

AFR | 2/23/2017

As lenders adjust their investment mortgage rates to abide by the regulator's lending rules, investors can expect bigger differences between the rates on offer.

A manifesto for Generation Rent

SMH | 2/20/2017

"Affordability, that's what we've got on offer here today," announces the auctioneer of a two-bedroom flat 12 kilometres from the CBD with a guide price of $650,000.

"For those entering the market, and for investors, it ticks all the boxes," he continues, opening a frenzied bidding session that doesn't stop until $780,000.

If you want to be a millionaire, it's better to be a software engineer than a pro athlete

Business Insider  | 2/12/2017

In 2016, Cleveland Basketball great LeBron James made over $US77 million between his pay ($US23 million) and endorsements, Forbes reports. New York Giants quarterback Eli Manning made $US45 million, and LA Dodgers pitcher Clayton Kershaw made $US32 million.

There’s no question being an elite pro athlete pays very, very well.


Melbourne renting: Rent at record highs, rising faster than incomes and vacant

The Age  | 2/11/2017

With a record number of new homes approved, Melburnians might think renting is getting easier.

But here is what the city’s rental picture actually looks like: rents are at record highs and rising faster than incomes, the number of vacant properties is shrinking and properties defined as “affordable” to those on low incomes are disappearing.


Franchise: be your own boss but know the terms

AFR  | 2/11/2017

Franchising is making a big comeback for Australians seeking new careers, returning to the workforce or simply discovering a chance to do something different in jobs ranging from making cheese cakes to managing construction sites.



Subscribe to the Personal Super Investor weekly email to keep abreast of developments in SMSF law and investment markets. SMSF investors looking to improve investment returns from shares, property, cash or other specialised investments, will find the PSI weekly newsletter an invaluable resource.

Subscribe now »


The contents of this website are of a general nature only and have not been prepared to take into account any particular investor's objectives, financial situation or particular needs. Our content is not intended to be advice and must not be relied upon as such. You should seek independent advice tailored to your specific circumstances prior to making any decisions. Personal Super Investor does not provide financial product advice or recommend any financial products: Where this website or it derived newsletter/electronic publication refers to a particular financial product, whether it be within our editorial or a 3rd party advertising, advertising promotion or advertorial, then you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision about whether to acquire the product. We also recommend that you should seek professional advice from a financial adviser before making any decision to purchase any financial product referred to on this website. We do not make any representation or warranty that any material on the Personal Super Investor website will be reliable, accurate or complete, nor do we accept any responsibility arising in any way from errors or omissions of our content or any content provided by any advertiser appearing the Personal Super Investor website. We will not be liable for loss resulting from any action or decision by you in reliance on the Material (whether editorial or advertising) on the Personal Super Investor website, nor any interruption, delay in operation or transmission, virus, communications failure, Internet access difficulties, or malfunction in your equipment or software. By using the site you acknowledge that we are not responsible for, and accept no liability in relation to any content contained on the site that you may use, including any other users’ use of the Personal Super Investor website in any circumstance. You use the Personal Super Investor website at your sole risk.