The irony of the boom is that spontaneous buying of property was a feature of the boom years, yet this was the time where there was the most risk of paying too much, and therefore where there was a real chance of losing money.
Greg Hocking (a mate of mine and a name that all of Melbourne will know in real estate) lists this as one of his greatest regrets after selling his Hocking Stuart business: "I should have taken more of my own advice," and went on to say he always encouraged clients to get on with their property purchase. For him, he felt he had missed the boom, in the boom, and he had missed the boat, in the bust. His clients made millions from just getting on with it, and he missed out.
Reality is, to pick the bottom of a market is impossible, and at best is just intuition or an educated guess. One thing you can be certain of - we know buying at the moment is pretty damn good buying for a host of reasons. Locally, including the impact of the mining boom, the arrival of the Defence Battalion, our lack of supply of houses and the relative affordability of SA property, many would argue we are in the bottom of the real estate trough right now!!
The Fleurieu market is hurting. The Fleurieu is a BLUE CHIP location for Adelaide holiday makers, tourism, country living and so it should be – it offers so much. A truly stunning location - the beaches are beautiful, the surf is amazing, fishing, water skiing, sailing, shopping, cultural and eco-tourist activities like bird and whale watching are world renown. World class wineries, restaurants and scenery add yet another layer of delights, but for all this, property is "dirt cheap." It's wrong, it's out of balance... I think this is a generational opportunity.
The unique thing about buying on the Fleurieu is you have choices. Investors can choose long term leasing, or short term holiday letting. Buying a beach side get away? A first home? Or just want to buy at an opportune time as an investor? Monday we want to see you at our auctions to experience this for yourselves.
During a research tour in the mining town of "Roxby", I heard first hand a resounding unexpected theme direct from the mining workers: "Give me cool weather, water activities (surfing and fishing in particular) and make it within an hour or so of a major airport." All stand out must haves. Victor Harbor and the South Coast is unequivocally a stand out best fit.
Think about it. Once the Southern Freeway is sorted, (do you remember how the Hills suburbs like Stirling, Aldgate & Crafers took off after the SE tunnel went in??) and given McLaren Vale nearly meets suburban Adelaide these days, Victor is virtually an outer Adelaide suburb.
For an extra 20 minutes in the car, you get a holiday resort environment, with country lifestyle yet large scale shopping - AND currently sitting at the bottom of the property cycle at rural prices.
Toop&Toop have rounded up 20 properties for some serious sellers, and we have them open Easter Saturday and Sunday, with all 20 being auctioned; all onsite, 5 auctioneers, all day this Easter Monday. From mansions to shacks… and some land too, all going under the hammer. Check out www.Toop.TV (episode 122) to see some of the ideal properties on offer and remind yourself how beautiful the region really is.
Why not jump in the car, take a day trip to Victor, return home with an investment property, or maybe your first home. If you have the capacity to buy, why not do it this weekend? The odds would be better here than at Oakbank!
Time for the return of the spontaneous buying on Easter Monday...
All at Toop&Toop wish you a safe and Happy Easter, and maybe a new surprise investment property too.
Anthony Toop Follow me on Twitter: @Anthony_Toop or call 0418 824 188