Currently looking for an apartment in 4101 Brisbane and getting pretty frustrated with the audacity of some of the REAs and expectations of the owners lately.

The amount of units going to auction only to be passed in with no bids is over 90% and then they go on market with prices still higher than what was achieved on similar comps 6mths ago!

Perfect example - a 2/2/1 asking for $899+ when the very same floorplan one floor higher only went for $890 in May. This place passed in at auction a month ago.

Two other sales in the building put the avg price/sqm around $92ish and when I point out that puts this apartment at $796k the Rea looks like I killed his dog.

So many other examples like another in a building that has significant water ingress issues (builder went broke, bc is up for increased funds to build up the sinking fund - to stop and the defects are only still being quoted) and they whack up a 1mil asking price when the building hasn’t seen a price over 950…let alone that this one has been on market for 2.5mths!

Over it. Meet the market! Are you selling or not???

I’m 24, I take home $83k a year without overtime. Take home closer to 90k+ with overtime.
No debt. Secure job/ trade and still currently living at home

I truly feel there’s no point building a future anymore. It seems so out of reach. How can I borrow 700k for a first home and make it work ? I need some perspectives and or ideas on how and if it’s possible for me to be paying off a home loan and still have a life.

I purchased my first home in 2022 in the Outer Eastern Suburbs of Melbourne for 730k. It was at an auction and I probably overpaid and have regretted it since. I was getting blasted out of the water on bids every time by 100k over reserve and was sick of it. It is a small house, 3 bed, 1 bath, but enough for one person. I have done alot of work to the house and garden myself over the last few years and it is much tidier.

My insurance has skyrocketed to 13k per year from 2-3k due to bushfire and landslide risk and I want to upgrade to a nicer forever home that will be better for me long term. I have since paid off my mortgage with the help of a small inheritance and sale of some investments and am thinking about upgrading my house. I had a few real estate agents appraise my house and they estimate 700-750k which means selling at a loss.

Do I upgrade to a forever home now which I can afford with a small loan or wait until property prices start increasing again, which will mean the forever house I am buying will be more expensive too. I am thinking at since we are in a decline, a forever home will be alot cheaper and offset the loss on my current home

Thoughts?

Repost to

We recently moved into a house of our own, and I wasn’t prepared for how much there is to keep track of: roof, gutters, plumbing, heating and cooling, smoke alarms, pest and termite checks, the garden. Until now, someone else (a landlord, a body corporate) handled all of this.

A few things I’d love to hear from people who’ve been doing this for years:

1. Do you follow a schedule or checklist, or is it mostly reactive?
2. What’s the one thing you wish you’d done earlier, or the one you skipped that cost you?
3. How do you find tradies you actually trust?
4. Is there a single person or company you can hand all of this to, or do you end up juggling five different trades?

Any hacks or best practices welcome, including what didn’t work.

I have access to approx 700k to buy an investment property. I’m in Adelaide. Tossing on a few ideas.
1) An apartment in a nice area like Norwood or Unley
2) a house in an up and coming area. Either out North or maybe down south like Christie’s Beach etc
3) take more money off the current home loan

I’d be interested to hear peoples thoughts and if I’m missing an obvious answer.

Lots of people say avoid avoid avoid, but it seems to me (the uninformed FHB still learning) that it has a lot of pros.

1. The fees aren't so bad it seems? $2k a year seems to be the average, covering insurance, maintenance, anything else related to the common area. You would only pay your internal bills such as power, internet, water.
2. You don't have to purchase insurance, as it's included in the fees.
3. Allows a FHB to get into the market sooner by purchasing a unit in a block which is generally cheaper than a freestanding villa/unit.

What do we all think?

Me and my partner earn decent money, me about $190k + bonuses and her $105 + bonuses, she is part time (4 days now) as we had a baby who is 11 months now, and she is now pregnant again but has half pay mat leave for 9 months with work. On our salary I would never take out a loan of that size, we got a 640k loan 15 months ago for a basic house and are just saving a deposit for the next one (hopefully house values drop and we can upsize for not much more of a loan in 4/5 years). Who is taking out these huge loans and more importantly why? Curious to know who is affording them or pretending like they can?

UPDATE: partner is part time now at 0.8fte which is about $80k and when on mat leave in Feb will be on half pay of that for 9 months, so about $40k.

Thanks

My husband and I have put and offer in on a property and signed the contract. We are currently in the cooling off period. We have since had the Building and Pest Report done and a Timber Pest Inspection (TermaTrac).

The Building and Pest report has noted the presence of alate termites but it was on a step in the front garden. The termite report mentioned no live termite activity and notes that alate / delate termites flying about can happen due to the current season.

So I would think the above can be managed with a pest management plan and ensuring you are having yearly treatment or whatnot especially since the property has been deemed by both inspections and reports as being highly conducive to termites.

The issue is the property itself is on a zero boundary on both sides. One side is completely inaccessible. The trees from the neighbour’s yard along the boundary wall are overgrown and have been going over the roof and the foliage and debris seems to continue to go into the gutter. Not sure if they have an agreement or any discussion in the past of ensuring the trees and foliage is maintained but think this is something we would need to try to negotiate with the neighbours.

The B&P inspector was unable to see what was going on underneath the exact area the trees are growing over and mentioned the difficultly in keeping it maintained (he had mentioned water ingress issues too) as directly underneath that area you can see discolouration in the ceiling of the bedroom.

The gutters are also full of sludge and overgrown algae / moss (looks like the vendor has not looked after the gutters really well in quite some time so would need a clean and a check of the down pipes). Drainage seems to be an issue likely also because of all the building up in the pipes and surrounds in general the drainage around the house is not adequate. You can see obvious concerns of constant moisture around the house / consistently moist conditions.

Going back to the susceptibility of termites - due to the zero boundary, moisture and a deck area which touches against the property wall all the way across to the other boundary wall with no access underneath or any space really (weepholes covered, no 75mm slab exposure), we have been told getting pest treatment done can be very tricky because ultimately only 2 out of 4 sides of the house is accessible.

Also the B&P inspector couldn’t get access to the roof as it was not provided however the pest inspector seemed to be able to poke his head in but unable to move inside due to its low pitch (concerns of termite activity flagged again).

I don’t know how much I should worry about this. I feel as though the other things like the gutters and the tiling of the roof and water ingress may put us in a position to negotiate on the price. Especially since there are issues observed with the roofing too.

I also understand termites are always a risk with a house (it is titled as freestanding) but the difficulty in manoeuvring either zero boundary side for effective treatment is making us anxious especially due to the likelihood of high termite risk. The house is on a concrete slab. Also because it has zero boundary not sure of the difficultly of renovations in the wet areas and trying to cut through concrete slab or what not to connect to pipes and things like sewerage.

Not sure what to do, especially as it has become apparent the property needs more immediate work than we had anticipated (we would be more comfortable financially if these things can be fixed medium term).

Would really appreciate if anyone had any insights or thoughts.

Thank you!

EDITED TO ADD: On a side note, the inspector mentioned the vendor seemed nervous the whole time he was there and didn’t really help to move obstructions to get into the man hole for the roof etc.

Hi guys first time poster here!

Me and my wife are in the position to buy our first house. Long story short: we gave up renting 2 years ago, moved in with her mum and dad and have been able to save a lot of our income. That along with me cashing out on some stock market investments has netted us about 160k to buy our first home.

But ever since being ready to buy (since about September) all we’ve heard from friends, economists, real estate gurus etc. is that everything’s going to shit for the next 12 months at least. This is being said with a high degree of certainty mind you.

We’re not sure what to do, do we wait? I mean we’re not in a huge rush to buy. Living with mum and dad is awkward at times but it’s not the worst and we’re saving so much.

I feel like I should just forget about the house, put the money into safer investments or even a high interest savings for the next 12 months and wait.

(Some extra context: We have a 700k borrowing power but we do not want to max that out because we value cash flow so we’re looking in the 600-700k range for purchase price. I realise that waiting will majorly affect our borrowing power but also we will have saved a lot of our income in that time)

((Some extra extra context: We were looking at 4 bedroom 2 bath houses in Pakenham, Victoria))

Currently looking at purchasing a property that has a network pole and line to the front yard. Would love to have at the minimum the line underground, does anyone have any experience with relocating the connection to the property and the pole to the curb? Based in Perth WA.

I bought block of land in a new development last year with 10k deposit.
Settlement of the block happened this year around July as block was not ready by developers.

I am in process of selling the block now change of mind want to buy house rather then block

Do I need to pay GST on this block land ? Any information on This will be helpful

First time buyer dipping my toes into the market and the search. Have approx 180k as a deposit and can comfortably borrow 500k.

One of the first apartments I inspected was in a real good area (fringe hills district), and gave me a “too good to be true” feeling.

Upon inspection, the REA disclosed that there’s a special levy of 1.6m to raise (they’re currently halfway there) and would be an additional 1500 pq for 4 quarters (on top of existing 1k pq) to fund the rest of the works required. The required works is retrofitting fire safety stuff.

The unit itself is good, the area is nice, safe, etc. As someone with virtually no experience hunting in the market, why else is this a red flag? If I can cop the additional strata special levy, should I investigate the unit further? Or am I missing something?

Thanks for reading :)

I have an auction in two weeks time and the agent has been really pushing to make offer before the auction. Said “Why wait? Just offer the reserve price and be done with it”. 😂 They must be so desperate.

Gosh I love when they struggle

My husband and I looked at a home to buy yesterday and we really liked the house, however in the middle of backyard there is a huge drain. It’s one of those big ones you see on the street and you can hear gushing water. I’ve never seen this on a residential property so I was quite shocked. Obviously we wouldn’t be able to build anything on it but I’m worried about flooding and just generally if this is going to be a headache. Anyone encountered this? I’ll upload a photo. The owners have done a good job of trying to make it discreet so it’s not an eyesore.

Hey,

We have bought a new property that has an old rumpus that's huge and really need modernised.

We are actually thinking about converting this into 2 bedrooms and a smaller rumpus.

Keen to get some feedback on floorplan

it's just 2 partition walls, some electrical and plaster and keen to get a ballpark we should be budgeting in this climate

Recently sold in Richmond. I don’t get how the valuations are so up and down for some properties despite their specs being in varying ranges. Anyone care to explain?

The pseudo narrative of a 30% rent hike in a short period of time is now a known falsehood. It was a lofty prediction and one I never believed. However it was pushed daily by corporate media despite the likelihood it was just a scare tactic used by the property lobby to scare the most vulnerable people in the housing system into hating Albanese.

I really hope those on the margins and experiencing housing anxiety are not listening to crocodiles like Tom Panos and Mark Bouris who regularly get rolled out to push the false narrative that this budget is bad for younger generations, especially those who rent. These people have never cared about you before, why do they care now? They want to manipulate you into voting for THIER OWN
interests.

Be very careful of corporate media, especially Murdoch media given the relationship with REA given Newcorp owns 62% of REA. REA market cap has gone from 18 billion to 12 billion post budget. You bet Newcorp are not happy with that 6B paper loss. Which is why you get the false reporting designed to manipulate

Hi Everyone,

Tonight i went to my first auction.

I am not keen on buying the place, but wanted to understand a bit more how auctions work.

There was one other person there. I think he owned the place. ( He kept going in and out and chatting with the agents.)

After about 10 min of making small talk with another agent. The speaker man came to me and said I'm setting the bidding at 649k.

That they have two buyers already lined up, who are not allowed to bid cause they've placed an offer a week prior.

If I want to put in an offer I would have to wait until ext week, when they update the price guide.

Is this normal?

If they had set the vendor bid at 649k and I bid 650k would I have got it?

It just seemed bizarre.

Hi all.

I asked ai to make a letter of offer I'm looking to buy my first home and I'm new to all this, I pasted the text below any opinions?

----------

Date: [Current Date]

To: [Selling Agent Name]
 Agency: [Real Estate Agency Name]
 For the Attention of the Seller of: [Full Property Address, Perth, WA, Postcode]

LETTER OF OFFER TO PURCHASE RESIDENTIAL REAL ESTATE

Buyer Details
 Full Legal Name(s): [Your Full Legal Name as per Passport/ID]
 Entity: [e.g., Individually, Joint Tenants, or "And/or Nominee"]
 Contact Details: [Phone Number & Email Address]

Proposed Purchase Terms

1. Purchase Price: \([Amount in AUD] 2. Initial Deposit:\)[Amount] to be held in the Selling Agency’s audited Trust Account within [e.g., 3] business days of mutual acceptance.
2. Balance of Purchase Price: $[Amount] payable at settlement.
3. Settlement Date: [e.g., 30 / 45 / 60] days from the date of contract execution or finance approval, whichever is later.

SPECIAL CONDITIONS & LEGISLATIVE COMPLIANCE

Pursuant to Western Australian real estate frameworks and the REIWA Joint Form of General Conditions, this offer is strictly conditional upon the satisfaction of the following specific conditions:

Condition 1: Bank Approval Prior to Binding Agreement (Pre-Condition)
 This offer is presented on the explicit basis that the contract does not become a unconditionally binding agreement until the Buyer obtains formal, unconditional written finance approval from a lending institution. The terms of the Standard REIWA Finance Clause shall apply as follows:
 • Lender: [Name of Bank, e.g., Commonwealth Bank, ANZ, or "Any Recognised Lending Institution"]
 • Loan Amount: $[Amount needed] (or "An amount sufficient to complete the purchase")
 • Latest Time for Finance Approval: 4:00 PM on [Date, typically 14–21 days from acceptance]
 The Buyer agrees to apply for finance immediately upon acceptance and use best endeavours in good faith to secure this approval.

Condition 2: Building & Pest Inspection (Minimal Defect Clause)
 This contract is conditional upon the Buyer obtaining, at their own expense, a comprehensive Building and Timber Pest Inspection Report from a registered, independent building inspector and licensed pest technician within [e.g., 10 to 14] days of mutual contract execution.
 • Defect Standard: The inspection must be successful to the absolute satisfaction of the Buyer. The property must be free from any major structural defects, significant live timber pest activity, or severe maintenance defects.
 • Remedy: Should the report identify any structural or maintenance defects exceeding a minor cosmetic threshold, or active pest infestations, the Buyer reserves the legal right to:
 a) Terminate this agreement immediately with the full deposit refunded without deduction; or
 b) Require the Seller to rectify said defects to a professional standard prior to settlement at the Seller's sole expense.

Condition 3: Secure Fund Transfer & Electronic Settlement
 The parties explicitly agree that settlement will take place electronically via the Property Exchange Australia (PEXA) platform. All fund transfers, including the final balance payment, must be executed securely via PEXA's verified electronic settlement network to satisfy financial compliance, clear the legal title, and mitigate cyber-fraud risks.

Lapse of Offer
 This offer remains open for acceptance by the Seller until [Time, e.g., 5:00 PM] on [Date, e.g., 2 business days from today], at which time, if not accepted in writing by the Seller, the offer will lapse entirely and any holding deposit must be returned immediately.

Buyer Signature(s): ___________________________

Date: ___________________________

 --------------

I have a freestanding 3/2/2 house in Melbourne Berwick suburbs.

It’s negatively geared around $20k a year. It’s held in a trust so Victoria’s ridiculous land tax alone is $4.4K a year.

LVR of around 75%, value of $730k.

Is it worth keeping around? I just feel it’s not going to go up by much each year to offset the holding costs and inflation.

If I want to make 5% profit a year after costs and interest, the property realistically needs to go up like 10% each year which doesn’t seem possible.

Only benefit is I’m grandfathered NG.

Should I just sell and invest the cash in some geared ETFs maybe?

Dodgy building inspections — how low can the standards go?

Went to an open home at 74 Arafura Street, Mount Gravatt, today. The house is on a slope, and there were some pretty obvious red flags:

• Around 5 mm difference in floor height between tiles.
• Grout coming off and surrounding tiles sounding hollow.
• Visible water damage marks on the ceiling.
• Cracks across the upstairs flooring.

These issues are visible to the naked eye. So I checked the building inspection report prepared by an inspector called Robin U., only to find none of these issues mentioned. Instead, the report described the property as being in sound structural condition.

Seriously, is the building inspector blind? How can such obvious warning signs be missed?

Hey everyone, I’m looking for a warehouse or industrial space in Brisbane that can be hired and set up for a party with a DJ and dancing. Doesn’t need to be fancy—just an open space where parties are permitted. Preferably somewhere that allows outside food vendors too. Any recommendations or contacts? Open to surrounding suburbs. Any info on hire costs would be appreciated!

Interested to know what percentages people are seeing these days and if REAs are dropping percentage rates to attract vendors in this ever more competitive market.

With the new Tesla technology of flying cars it seems to be the next step of technology that is coming to us after electric and self driving cars. Will houses that are near freeways be the most desirable houses to buy? Like literally fly over the side barrier straight into your back yard?