What is your property worth after this boom we have had the last 12 months?
I know personally mine has gone up between 1.5 to 2 mill, absolutely crazy I'm in Sydney.
What Is Your Property Worth?
Poll Options
- 357Under 1 million
- 128Under 1.5 million
- 62Under 2 million
- 19Under 2.5 million
- 9Under 3 million
- 7Under 3.5 million
- 5Under 4 million
- 10Under 4.5 million
- 4845 million plus
Comments
- 1
- 2
The property still has the same value though.
I own a 1m² plot of land in Scotland.
Lady Zeggie?
With purchase of certain brand of whiskey bottle you own 1 sqft of land from an island in Scotland.
Be interesting more to know how much the house is worth?
you can build a 5 bedroom 2 story house for like 400k, land is the issue. Lot of people have 1million dollar land and 250k house.
Yep, this!
I watched a house sell for well above what we thought it would, report states major defects (90 something pages of defects in total).
Price guide was 800, went for 1.2m
Last I checked, my tent still costs around $250….
So, it's under 1 million then.
Up about 120k to 500k 20 mins to Perth Cbd, I paid 240k for it 8yrs ago. 4 bedroom 2 bath garage , large shed, gazebo, concrete below ground pool 800m2 block.
Does it even matter if you still need a place to live?
It would if ppl had the balls to sell it, invest the proceds and rent their same house from the new owner ;) it's probably 1% yeild so you'd paying a lot less than the opportunity cost of holding this piece of concrete just so you can say you own it ;)
Rich Australians of Oz
Wasting big money on useless exotic luxury cars and overpriced property
Thought this country prides itself on a fair go and equality?
Perhaps not…….
It never did. Only the select few benefit
Have you not seen how selfish people can be especially during the pandemic??
Some are more fair than others. As in any country mate.
I came from Rainbow nation :|
once upon a time.
Correct, it's called propaganda.
Nice try realestate agent…
can we add another poll option - "more than OP's house"?
Far too much.
Anyone know any good sites to check what your property’s worth?
Thanks
Realestate.com.
Corelogic
OnthehouseOzBargain
The average median price in Sydney is over $1million. Nothing to brag about OP
The OP's property has gone up $2m!
So assuming Sydney prices have gone up 25% over 12 months, then calculating, the property is currently worth $10m from $8m 12 months ago.
Yeah I expect everyone to do an honest poll in a forum full of anons
Wow, less than 400 OzBargainers and a collective networth of nearly $1 Billion dollars!
Goes to show how much wealth you can accumulate by opting into 10% S&S deal and cancelling once its been shipped.
My old man left me a block of units next to homebush station that my grandfather purchased in 1979 for 80K
Gold mine Chedda Saab
I believe my house is worth about 20% more than it will be in 2 years time
Still won't be able to afford the median house price in a good family suburb.
Who knows
It could drop like crazy when people realise that the magic money printing recent gains were all just bs.
Then inflation cones along and ruins the easy money barbecue gloating property bubble party.
It will be interesting
The feds will never stop printing money. Money printing is the only tool they've left to keep the economy from collapsing.
Inflation will continue to go up while the interest rate goes sideways. People that still keep savings in fiat money will get rekt while people that own assets will make gains.
@rektrading: True. Printed money moving into assets that don't contribute to cpi has been protective.
It will all end badly. When? No idea
@mdavant: I'm not worried about it ending. I'm focusing on making the most out of it while it lasts.
A black swan and the biggest money printing in history is an opportunity of a lifetime.
I want to start a new thread and straight out ask how much money members have in their bank account, but only if its less than how much i have.
My house is worth 4.8 Mil.. it's not on your poll.
sorry bro, just tick the 5 mill box like most on here…!
According to the stats, about about half of the ozBargainers (who votes) don't own a property.
3 Bitcoin.
Hmm, what if I have 3 properties, should I add up the values? While we're talking unrealised wealth, would you like to know the value of my share portfolio? What about my Super balance while I'm at it? Cash in the bank maybe? Value of my cars? Lego collection value?
Thanks OP for the depressing post to remind me how (profanity) I am.
Freaking lucky mustards 😁.
I relocated to Aus 4 years ago and haven't been able to afford anything. Should have gotten in to selling snake oil, than selling my time to a company 🤣. Seems that home ownership for a single income earner is a non starter.So I continue paying rent. Sucks.
Maybe move from a capital city.
Or work harder or any other advice people love to rub in when they were fortunate to buy at the right time and have govt policy designed to promote consumption so that gdp is artificially raised.
Well I saved for 13 years before I could afford my place and I bought at the top of the market. Copped a lot of grief from people but hung in there being pay cheque to pay cheque for 6 years and finally starting to get ahead on the mortgage. It isn't timing, it is hard work and commitment whenever you buy. But now days, living in the country is an achievable thing for most given WFH. it is a real alternative and not a slight.
@serpserpserp: Well I bought last century and it was insanely easy to make an absolute killing.
I won't pontificate to the young generations facing stupid prices caused by greedy assholes like us.
@serpserpserp: If you lived pay cheque to cheque for 6 years post buying the property you did not buy at the top.
You experienced a significant part of the greatest tailwinds to household cashflow by ongoing interest rate cuts while benefiting from the associated capital gain. When you bought the first home buyers grants were also a larger percentage of the median house value compared to now.When I was 18 I worked three jobs about 70-80hours a week and bought my first home, that subsequently was positively geared within 5 years and had tripled in value over the decade. At the time it took me 6 months to save a 10% deposit while living with a partner and in-laws. Now it would take me 18 months on a doctors salary…..
you did not buy at the top.
People considered it the top at the time. And the years leading up to COVID it barely changed in value. But yes, enough time goes on in this country and a new peak forms it seems.
You experienced a significant part of the greatest tailwinds to household cashflow by ongoing interest rate cuts
That didn't help my cash flow. Only getting a better paying job did. I continued to at least make my contractual minimum repayments.
When I was 18
Cool story bro. Yes if you bought over a decade ago you absolutely had brilliant timing in buying a house. Very fortunate.
Not sure if there are a lot of Property investors here or just people who own homes in Sydney.
Sorry OP, but based on the poll. I'm afraid your gains are below that of the average ozbargainer
Bikies
Lost track of mine. Threw my calculator away when my net worth exceeds the digit. Haven't been able to keep track since.
Mines US 500 mil
You can read about it here.
https://www.realestate.com.au/news/most-expensive-home-in-th…
:)
These poll options are quite interesting because you could own a $100k studio apartment and it will still be 'Under 4.5 million'.
I've got 4 green houses. I'm about to sell them and buy a big red hotel.
my house did only a 2x in 7 years, my worst performing asset
But you saved the rent you would have paid if you weren't living in the asset and the earnings from this saved rent money.
Wheres the option for too poor to own a property :/
Poll's flawed.
A house <$1 million is also <$4.5 millionDon't question the math.
Obviously most people here are math wizards.
Not sure it's my property
I'm more like a custodian, but even that is too strong
I'm more like a steward
And the property is only as valuable as those inside are to you
/Derailment over
nice flex bro
Looking at the Poll results so far….I don't think your parents mansion count as 'your property'
OzFlex
Can I vote Humble-Brag Thread of 2021? :D
These days 1.5-2.0 million isn't much to brag about :(
The OP's property has gone up $2m, so it should be worth $10m (assuming Sydney prices have gone up 25% in 12months)
I haven't had any recent "increase" per se as I don't hold onto properties for too long. Generally try to buy, reno/ hold for 12-24 months before flipping them.
It's pretty easy when you have mates working as council town planners and developers so you know the locations that are about to be approved for multi-units. I'll also purchase off-market before they hit any websites to the public. Taking real estate agents out for lunch every couple of months goes a long way ;)
I'll be flipping my 12th property in May 2022, expecting about 16% nett profit on a $3M double storey, 940m2 in Glen Waverley so I just a touch over $300k profit on this one. Not bad for 14 months of holding. Overall I've made about $2.2M flipping. Haven't had a full time job in 8 years, only regret is not doing it earlier so I could retire at 30 instead of still semi-retired at 33 sigh
This is why owning a house is expensive.
cool story bro
I have thought about doing this though stamp duty and selling fees put me off. Also capital gains tax if its not your primary place.
Is the 300k profit after you account for all the fees and taxes?
You do it under company structure
why the downvotes? this guy is giving you insight into how to obtain wealth.
house renos/construction are hard work. he's busting his ass out there.
Looking forwards to explaining to my kids how they can look forward to a life of penury just to rent a shack over their heads while their grandparents sit on four houses and still get a state pension and free bus pass.
A billion dollars. Rolls eyes
Crying in Adelaide where median house price is 500k
Oh, you poor thing. Come down to Melbourne.
I voted under 1 million, because $0 is under 1 million.
I’m sure Op got a ton of PM from REA’s now
I reckon house prices are like the Roman's throwing bread to the people of the colosseum. If you can still only swap your house for another house, then it hasn't gone up that much.
Don't have one. I'm a certified pleb vs the landlord classes.
Strange flex.
Ozbargain turned into whirlpool so gradually I didn't even notice
I think the people who got banned from whirlpool migrated here.
mines going up because you sydney guys are selling for heaps and realising that its way better to live in qld
OP you should see my car collection
Poll options are very capital city centric. There's a 10 year old brick lowset home with 320 m2 under roof, shed, ducted aircon etc on a 800 m2 block around the corner from me, <10 mins from CBD, for $699k. To spend more than a million you are getting something very special.
Too much - it is depressing :(
Still under $1m, and living in Sydney. But that doesnt count IPs
Quite a bit, but its utterly uninteresting to me as I'm not moving… not for a very long time, if ever. What matters to me is I can afford it, not what its worth on paper.
- 1
- 2
won't be their property at that stage