[dodger]

Interest rates won't go up till 18 or 19.
The biggest risk for most borrowers so leveraged is loss of employment or reduced income.

2018 isn't far away.

[looney]

Interest rates won't go up till 18 or 19.
The biggest risk for most borrowers so leveraged is loss of employment or reduced income.

just in time for my interest rates that i fixed in just before the rates went to record lows to come back to variable rates

[carl888]

As a vendor, in inner Melbourne at least, the EOI is the best way to screw over the purchaser and maximise your gain.  A cash incentive to the agent plus an aggressive commission structure that's stratified (i.e. increases as the price goes higher) does the trick, mostly.  The reason is that the buyer has no idea where they stand, they could be the only party showing interest, but they'd never know.  For inner city property here there's a chronic short supply, it's a sellers market.

An Auction puts all the cards on the table and save for a few isolated ones I've seen recently where there were dummy bids, it's the fairest way to buy.  Of course you can get into a swinging dick scenario where two or more usually ego driven desperados get carried away but mainly an Auction will tell you exactly what it's worth.

[TomE]

Most of the auctions I've been to in Adelaide in the last couple months have gone cold  at $800k -$900k. Then a few weeks latter they sell for $1.1 to $1.2 m via private negotiation. Its almost as if the auctions just the start of the selling process.

[carl888]

And the media doesn't help the feeding frenzy either:

https://www.domain.com.au/news/melbourne-suburbs-where-every-house-sold-at-auction-in-april-20170507-gvz74y/

[TomE]

Darwin Apartment -254m2, 3 bed, 2 Bath, 2 cars spots, 17 floor with views $788k. (Price dropped $211k)

http://www.realestate.com.au/property-apartment-nt-darwin+city-125337958

Looks like Adelaide apartment market has overtaken Darwin which used to be compared to Sydney.

[Fil-Ski]

Staying at Palm Cove at the moment.
Apparently this originally sold for $2.2m 10 years ago. That's a huge haircut at current prices.
https://www.realestate.com.au/property-apartment-qld-palm+cove-117004203

[E7ITE]

The largest penthouse in Australia?  The owner is looking for $20 - $25m

http://www.realestate.com.au/property-apartment-wa-east+perth-122675342

[JanG]

Staying at Palm Cove at the moment.
Apparently this originally sold for $2.2m 10 years ago. That's a huge haircut at current prices.
https://www.realestate.com.au/property-apartment-qld-palm+cove-117004203

I was in Palm Cove last week, nice place!

[JanG]

The largest penthouse in Australia?  The owner is looking for $20 - $25m

http://www.realestate.com.au/property-apartment-wa-east+perth-122675342

$25-30m according to the video. Impressive!