A Lazy $500,000
Long-term readers of Month In Review might like to cast their minds back over the past decade or so that Herron Todd White have been covering this annual topic and think how far their property markets have moved since then.
There was a time when you would have been considered part of the elite if you had a lazy half a million dollars burning a hypothetical hole in your designer jeans pocket. Imagine what you could have acquired!
One of the valuers tells the tale of his real estate agent father who would continuously ‘rue the day’ decades past when he decided not to buy a prime inner-city riverfront block in Brisbane for $250,000 (mind you – it was probably equivalent to ten times the average wage). Once that piece of dirt went back on the market in more recent years for over $2 million, the dad was livid at his lack of retirement planning.
The long-term growth of property values runs differently in centres across the nation. It can be in fits and starts in some locations, like Sydney which languished for half-a-decade before its hot run post 2012.
There are also those quiet achiever markets which see steady-as-she-goes, single-digit gains that compound year-on-year until suddenly you turn around and think, “My property is worth how much?! When did that happen?”
In this issue, the Month In Review team are visiting their regular July theme and discussing where you can currently spend $500,000 on real estate with good future upside.
They’ve asked their gang of highly-educated, very well-connected professionals to give us their nuanced view on those locations and property types offering great potential for what many would consider to be a low buy-in price.
The really great thing about our information is it isn’t just statistically driven but comes from daily hard yakka at the coalface. The valuers cover just about every co-ordinate on the Australian landscape and unearth suburbs one house at a time. This gives them a unique perspective on the subject that you just won’t find anywhere else. As a bonus, they’ve also asked our doyens of real estate to look back on their picks from last July too, and give some follow-up on how these choices performed over the past 12-months. It’s well worth a hindsight look to see how these selections stacked up.
Head to page 37 of the report to read about where to buy in Brisbane for a 'lazy' $500,000.