Just when it seemed time to start thinking about shutting up the shop, boom.
Last week, four tennis courts changed hands (some with humble abodes attached).
Three off-market, one with six hands a-waving. All suggesting that there’s still serious money looking for somewhere to sleep.
Where, exactly? Can’t say. Can’t even leak (unlike some agents).
Big land — always the litmus test — and the prices paid have lessons in them.
- $1,025/foot — reno. house (+ court)
- $583/foot (court)
- $904/foot ready to move in (+ court)
- $508/foot (court)
That’s history. There’s more which is very, very quietly out there:
- $502/foot
- $533/foot
- $1,000/foot
- $904/foot
They have expectations that are still highish, but if you have $15-32m handy, you could have a court of your very own and, given that there only 120 courts in Toorak, you also get rarity and maybe a heap of nice new friends.
Plus Santa Shakes (below) could be on your side.
Buy The FIRB A White Horse
The Battle of November is over and won by The Locals. The FIRB’s sabre-rattling has seen the foreign invasion routed 15/0.
For now.
And leaving a number of would-be whale catchers wondering what’s next.
That’s not all gloom and doom. Too often, deals that were thought to have been done have unravelled when the intending party became a no-show, leaving agents and interpreters trying to understand one another (is there a comedy show in this?).
Santa Shakes
It’s about this time of year that vendors’ symptoms begin to show. Sale Anxiety Syndrome starts to take hold.
Maybe the vendors have bought elsewhere. Maybe they just want to get it over before the market dies for three months.
Last year pre-Santa turned into the year’s best time to buy. History could be about to repeat itself twice (tautology intended).
There’s No Investment Like Real Estate (Agents?)
Ho. Ho. Ho.
McGrath is an estate agency chain that is large in NSW. It’s preparing to list on the ASX with a capitalisation of (please, sit down) $281m.
This from a company that realAs* rates as the most flagrant mis-quoters in all of NSW.
Are they worth it? How would you know?
But like head hunters and car dealers, the real estate industry is ripe for digital disruption. It’s not whether, it’s when.
We are not financial advisors, but our own super is staying where it is.
* We have an interest in realAs