Property prices crash the gold coast in line with the recent housing price crash un the United states. We hate to be the bearer of bad news but the bricks and mortar are crumbling and no longer seem to be a rock solid investment opportunity as evidenced by the recent down turn in property prices on the gold coast in Australia.
It was predicted last year at www.tecacentre.net that this down turn in property would more than likely occur soon. As you know the old saying goes. "What goes up must come down".
In recent communications with a number of property owners on the gold coast who shall remain nameless; they stated everyone they knew including themselves were selling their properties to make what little bit of money back before the complete collapse of the property market.
Many property owners have over the past 6 years or so neglected their investments and are now suffering worse losses than others. In effect they are leaving themselves wide open to huge discounts in the properties purchase value. For example houses with cracked foundations cost $10,000 plus, or carpeting and painting costing around the same to repair which would further de value the properties.
A particular example is a property in Parkwood on the gold coast recently put up for sale has structural problems, needs new carpet, a stove, hot water system and painting, to name a few things SEE PHOTO'S above. These should be picked up easily by a competent building inspector and the value of the property decreased accordingly.
Many people buy cheap places like this to renovate only to find they are in for more than they bargained for. They then try to offload them to unsuspecting people after doing patch jobs some are caught others well they just have to suffer.
The top 5 relevant articles we have on this subject and our predictions is #1 at the below Related links.
1. http://www.tecacentre.net/home_of_national_group_register.htm
2. http://www.tecacentre.net/buyers-landlords-a-wakeup-is-needed.html
3. http://www.tecacentre.net/landlords_tenants.html
4. http://tecacentre.net/wpress/2007/12/05/government-may-be-forced-to-refund-millions/
5. http://ausis.info/wordpress/2007/11/08/rent-prices-set-to-increase-again
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