Winter, Winter, Winter
Is it any wonder that many vendors think it’s all just too hard?
- Who knows what the post-election months will bring? Will Jobson Growth get the gig or not show up for work?
- Will our currency jelly set? At what level?
- Have the Chinese said (or been told) that enough is enough? — or is enough never enough?
- Will the ATO Dinkum Aussie Surcharge* frighten off those who are not Dinkum?
- Winter. The best time of year for everyone who is anyone to be somewhere else.
Signs from the Streets
The FOR SALE sign board marketing campaign has been a dud. Skips and builder signs taking over.
Sun Shines In Malvern East
21 Kerferd Street drops the hammer at $5m. Not a bad little earner for a single-level that went for around $2.5m a couple of years ago — three bidders, no prisoners.
Fog at $10m+
Buyers looking where there’s little to be seen; cheque visibility very poor.
1 Edzell Avenue Serious talk, no signature.
4 Robertson Street Hoping for offers over mid-20s. Needs a record and it’s not huge in the land dept.
‘Nuff is ‘Nuff
The agency no-one wants to know. Some clients with $20m+ in their pockets who won’t have a bar of them, others who won’t let them through the door.
And talk of a major player facing financial rocks.
The going around coming around phenomenon is catching. Anyone for karma?
Down The Ladder
Reports that Macquarie is placing around 120 postcodes on its Watchlist — meaning new and off-the-plan apartment buyers will need a 30% deposit. There’s a list here that includes South Yarra, South Melbourne, Melbourne and Docklands.
‘Macquarie is trying to be in front of the risk, a lot of (the new stock) is being bought by investors and as banks change policies about lending to investors, some will have trouble settling,’ The Australian
This at a time when a 2-bed timber worker’s cottage in Prahran can fetch $1.5m with little light and nowhere to park.
* From 1 July 2016 all purchasers of Australian real estate must withhold and remit to the ATO 10% of the purchase price if the vendor is a foreign resident subject to some exemptions. Sounds simple, but read on!