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  • Gold Coast

    Some people were promotng the Gold Coast not so long ago. Even promoting make 10% capital growth in 3 months. Today the Gold Coast is looking like a train wreck. Raptis a large player in the development market are in deep trouble, with recievers being called into at least one of there companies. I am told nothing much is selling. This may be the tip of the ice berg. Although the market has slown down in Australia, it will recover again in the main cities. The slow down in sales across the country is putting huge pressure on the rental market with supply lower than it has been for years. The sub prime market has slown down the number of projects being approved. This will leed to increased demand and we wil see established property increase in value.

    However the Gold Coast is different, it is a holiday market. This is a bad market to invest in as many will now find out. It has always been boom bust.

    Stick to quality iner city locations in major cities and you wil not go wrong

  • #2
    Intersting but drivel Nigel. Raptis falling over just creates an even greater shortage of good stock.

    I'm personally buying there as fast as possible at the moment.

    This is oner of those exceptional times to get in to an expensive market at a discount. Fortunes will be made on the Coast in the next few years.
    And values havent dropped there for 17 years so your boom bust fantasy is wearing very thin.

    In fact a recent report from Heron Todd White showed that the right sort of property in surfers has averaged between 20 and 50% capital growth per annum for the last 10 years.

    Why don't you try some constructive posts on why to invest in Melbourne where presumably you know what you are talking about instead of mindlessly bagging a market you obviously don't even understand.

    Saying something that isn't true over and over again doesn't make it true. It just gets boring.
    Last edited by [email protected]; 12-09-2008, 08:06 PM.

    Comment


    • #3
      Poomba rescues the Gold Coast

      Occasionally Nigel may get it right:


      Receivers at Gold Coast developer Raptis Group
      Article from: The Courier-Mail

      By Greg Stolz

      September 10, 2008 12:00pm

      THOUSANDS of workers face a bleak future as one of the Gold Coast's property kings - Jim Raptis - battles for survival.

      In the latest blow to the multibillion-dollar property industry, developer Jim Raptis has lost control of a $700 million project at Southport and a second $700 million project at Surfers Paradise also is under a cloud.

      The appointment of receivers to the Raptis Group yesterday comes as the global economic downturn continues to batter the Gold Coast, which is heavily reliant on development.

      http://www.news.com.au/couriermail/s...6-3122,00.html
      OllyN [email protected]
      Independent Property Consultant
      Residential and Commercial Solutions

      Comment


      • #4
        your investors

        Dean

        If your investors had taken your advice months ago they would now be in trouble. You have stated on a number of occasions that the Gold Coast is a solid market. That is rubbish. I would love to see proof of what you are buying. I notice you have removed your 10% in 3 months, changed you mind.

        To promote make 10% in 3 months is misleading and wrong, if you believe that then you need to go back to the drawing board.

        I mentioned that Melbourne is a great place to invest because it is a major city as is Adelaide. I also think that Brisbane is great and I believe Sydny will offer great opportunities. So Dean you explain your drival on make 10% in 3 months.

        Comment


        • #5
          Although the market has slown down in Australia
          The sub prime market has slown down the number of projects being approved
          Nigel, you really need to use a spelling & grammar checker.
          Shocking!

          Comment


          • #6
            Mr Raptis was disappointed receivers had been called in and concerned it could impact on sales and values - and prompt other lenders to follow suit. http://www.news.com.au/heraldsun/sto...44-664,00.html

            How much is this going to impact on sales and values?
            -10% -20%??

            Comment


            • #7
              Closing prices are displayed for the last 5 days on which the security traded on ASX within the last 6 months.
              Date Last % Change High Low Vol * 09 Sep 20080.4000%0.4000.4002,00008 Sep 20080.400-18.37%0.4800.40015,00005 Sep 20080.490-2%0.4900.49010,00004 Sep 20080.500-37.5%0.5300.50019,99929 Aug 20080.80014.29%0.8000.7003,500
              http://www.asx.com.au/asx/research/C...closing_prices

              Glad I didn't buy shares in Raptis in August!!!

              Comment


              • #8
                Nothing to explain Nigel. All capital growth figures I have ever quoted are public record. Last time you parroted the same nonsense I posted the actual stats.

                It was Melbourne that achieved over 10% in one quarter. These are called facts Nigel and as it was in your own city you should learn the facts before trying to undermine them.

                Learn to promote property investment instead of undermine others without any factual basis.

                Tell people about what you are doing so they can follow your example. Cutting and pasting anti Gold Coast or anti Dean posts over and over again when they are not true is as I said very boring.

                So tell us what you have done recently, how successful it has been and then we can all learn.

                Everything I and my clients have bought in the Gold Coast in the last 6 months off the plans has already increased in value significantly, especially Elston, quoted by local valuers recently as the best project in Surfers, and our projects have 18 months to 3 years before completion.

                Comment


                • #9
                  Dean

                  Figures posted for one quarter does not mean that prices have gone up by that amount. The figures ae based on what has sold in a given time. If you had a large number of properties sell during a 3 month period for 1 million, maybe because there is a new luxury release, then in the next 3 months you get a whole lot of property selling for $400,000 it would change the 3 month figure down but that does not mean that the 1 million dollar property has dropped in value. The same goes in reverse. Telling clients that they can make 10% in 3 months is a silly and misleading thing to do. These figures even if right represent history not the future. I would not make those claims in Melbourne either. I talk about what makes a good long term investment. Most real estate is worth investing in, however you can never make such a short term claim and always be right. That is the difference between a spuiker and an educator. I suggest you are more careful with what you say in future to promote your service as I know you are not a spuiker.
                  Last edited by powerbroker50; 13-09-2008, 10:39 AM.

                  Comment


                  • #10
                    So tell us what is happening in Melbourne Nigel. Where should we be looking??
                    What sort of properties are good buying there now??

                    Comment


                    • #11
                      properties in Melbourne

                      Dean there are many good areas in Melbourne. Rental demand will only increase the values of properties here and across Australia. I have always like areas such as Elwood. I also like area's such as Maidstone because there are close to the city, 8km and they are undervalued. Most suburbs within a 15km radius are good with rental demand in the 5km radius at an all time high. I am also establishing a development company that will give investors the opportunity to invest there money directly into a project and thereby get a great investment at a discount.

                      Dean I am not trying to pick a fight. I am not saying that all areas on the Gold Coast are bad. What I am saying is that high rise apartments can be risky. My issue is you talking about making short term gains. Your clients may make money but they may lose it as well. Investors should be made aware that if you are entering the property market for short term gains it is risky, just like the share market. Thats why I always talk about long term. Which should be for at least 10 years. If you are saying the same thing then we have no argument.

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