Dose

Fairfax: The Yellow Peril is upon us

526 posts in this topic

7 hours ago, Mr Medved said:

It's the third wave of colonisation in Australia (after British and American). Not sure people get that yet. It's more than just Chinese buying up Australian property.

Ak showed a graph yesterday (which I posted), showing that Oz property represents very good value & return for the chinese, compared to their local market. Together with the rich chinese wanting to park their hot money outside China and our governments' lack of serious restrictions, Australia is quickly becoming another province of the red dragon.

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The winners and losers of Budget 2017

Quote

...Foreign investors in Australian residential property are facing tougher rules, including the removal of the main residence capital gains tax exemption, tightened compliance and a cap 50 per cent sales to foreigners in new developments. There will also be a “ghost tax” of at least $5000 per year on all foreign investors who fail to either occupy or lease their property for at least six months of the year....

Quote

... Developers will also be prevented from selling more than 50% of new developments to overseas buyers. ..

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Edited by cobran20

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When I accessed the link, it had a short video of Andrew Winter giving hints about private sales.

Why did Andrew Winter leave the UK?

When the market there began to turn, he suddenly turned up in Australia "Selling Houses - Australia".

Why does my blood boil, when I see his show, where they slap a bit of paint around, fix up a few dodgy bathrooms and then get $50,000 more for the property. Why not sell the property as is, at a greatly lower price and let the new home owners have the joy of slowly fixing it up themselves? I just find that there is something deceptive about their intent. The owners only find out the short-cuts they took after living in the place for a year, and the paint suddenly begins to peel off the ceilings.

I'm also optimistically hoping one year, that "The Block" will also have an almighty fail. None of the properties sell for months!!! To the extent that Channel Nine has to actually bankroll the contestants themselves. Oh wait, that's right they have no money.

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1 hour ago, Solomon said:

When I accessed the link, it had a short video of Andrew Winter giving hints about private sales.

Why did Andrew Winter leave the UK?

When the market there began to turn, he suddenly turned up in Australia "Selling Houses - Australia".

Why does my blood boil, when I see his show, where they slap a bit of paint around, fix up a few dodgy bathrooms and then get $50,000 more for the property. Why not sell the property as is, at a greatly lower price and let the new home owners have the joy of slowly fixing it up themselves? I just find that there is something deceptive about their intent. The owners only find out the short-cuts they took after living in the place for a year, and the paint suddenly begins to peel off the ceilings.

I'm also optimistically hoping one year, that "The Block" will also have an almighty fail. None of the properties sell for months!!! To the extent that Channel Nine has to actually bankroll the contestants themselves. Oh wait, that's right they have no money.

I suspect it's all a lie.

When searching for a house to buy it was cheaper to buy renovated than not.You may only get leopard coloured walls and not off snow leopard walls. 

It's a result of the reno craze. 

There are very few cases where you can make money from a reno. Most renos that make money are based on purey price appreciation in the area. 

Oh, and painting the walls and replacing the carpets is not a reno. 

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11 hours ago, cobran20 said:

Ahahaha I used to live in St Leonards and it sure must have changed.

"The plan lacks the elements needed for social cohesion such as usable green spaces and precincts in which to congregate"

Unless she means bars. Because we definitely congregated in bars.

Personally I'd say don't knock high density living for the mediumly well off til you're tried it. It is very different to high density for the poor. But also, and I think this is the big difference between Japan and other high density places I have experienced, make sure that your high density buildng for the rich has some sh*t hole apartments for the local wait staff and conbini workers. Our building has a lady that works as a cleaner living in one of the sh*t hole apartments. It is about as good an apartment as she would get if she lived an hr away for about the same price. That means all the rich people have a cleaner, there is no way she would commute an hr to clean an apartment. Living here she just cleans almost everyones apartment.

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That's the problem with Australian "high density". It's done very poorly. I've been living in an apartment since last year and don't mind it (save for not enough outdoor space for kids). But the Aussie quick grab for cash high density builds just totally screws the city. And the apartments for $1M aren't even that nice or that big.

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3 hours ago, Mr Medved said:

That's the problem with Australian "high density". It's done very poorly. I've been living in an apartment since last year and don't mind it (save for not enough outdoor space for kids). But the Aussie quick grab for cash high density builds just totally screws the city. And the apartments for $1M aren't even that nice or that big.

A read that a lot of the new Meriton Valleys are apparently aimed at asian investors and not suitable for the locals. Apparently that means they are the size of a shoe box inside.

Having lived in a big block of units long ago, with the neighbourly noise and parking problems, I'll stick to a freehold.

The governments never held a referendum asking if our major capital cities should be turned into Meriton Valleys as far as the eyes can see! There is total lack of accountability on this matter.

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I've changed my mind.  Chinese investors should be encouraged to purchase high-rise 2-bedroom apartments in Australia through a series of tax rebates and incentives.

I mean, really...why not?

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