Chirp!:

    Sunday, October 21, 2007

    Silk/Linen/Pearls

    Caulfield Cup Day 1995.

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    12years ago today.

    We celebrated by taking a toddle a few houses down to watch an auction.

    When we bought our first home in Collingwood, there was a lot of jokes about drug users and the gay community. Ha ha.
    By the time we left, it was one of those 'up n coming, inner city trendy' areas.
    We laughed last.

    When we first moved over here in 2004, interest in this suburb was lodged at 2.7% growth. Again, a few people laughed at how we were moving to the daggy 'burbs', to an area known for old codgers.

    But i'd always loved this suburb, ever since I moved to Melbourne in my 21st year and had a girlfriend living nearby.
    Houses were valued at a median $450k in '04.

    So now the old codgers are moving, and the retirement homes are being 'upgraded' to childcare centres. Interest in the area in 2007 has jumped to 24.3%, and the median home price is now $1,010,000k*. In 3 years.

    I kid you not.

    About 9months ago, a home across the street ( condemned, not allowed to be renovated/resurrected, no-one was allowed to step inside at auction ) went for $810k.
    Add to this demolition and removal, council stuff, planning, building and all the rest, and that's a brand new $1mill home.
    Who has that kind of money ??!??!

    Today's home went for $1.121.000. Only 4 doors down.
    In Melbourne Suburbia. No sea views.

    So huzzah! to us ! Who needs fancy presents when our gift is obviously the land we are lucky enough to be parking our collective bums on.

    I know i'm happy

    xx

    * ( source: realestate.com.au )

    20 comments:

    M said...

    Congratulations!

    It feels good to be sitting on a decent plot of land. I feel sorry for all those in Sydney who bought at the height of the boom and now can't sell their houses for enough to cover their mortgage... I guess they have to sit tight until prices improve.

    Aunty Evil said...

    Yay for you!!

    Isn't it nice when things fall into place so nicely? You seem to have a good eye, or can fluke it really well. :)

    Fairlie said...

    Happy anniversary.

    And what a nice gift that is!

    Stacey (Sheeps Clothing) said...

    Wow, you must be feeling pretty pleased with yourself!
    I always used to associate your area with oldies as well, but I know that's now not the case. People are busting a gut (and their bank balances) to get into that elusive school zone.
    Congrats on having the foresight to buy in an area on the up.

    muser said...

    Happy Anniversary! And good job for selecting your residential investments so spectacularly well!!

    Melody said...

    Happy Anniversary! 12 years. Wow. Good for you.

    Property prices are simply amazing aren't they? Our apartment has already gone up approx 50K since we moved in 7 months ago. Yippee!! I've always said that this little place is a little goldmine. I wonder what that makes yours then? A diamond one I think... *heehee*

    Ange said...

    Congratulations on the anniversary & the house. I've had the same feelings about Brunswick for years & this weekend we were lucky enough to buy a nice old house on a decent size block 460sqm right in the middle of Brunswuck, it was tough work with most auctiosn going mega $$$ over advertised price but we struck a bargain in the end. Cant wait to move in & make it mine. Hope the prices continue up & dont so a Sydney on us.

    Lazy cow said...

    Congratulations on 12 years (we're 6 months behind you!)

    The property prices around our area constantly astonish me, and most of the blocks around here are nowhere near as large as yours.

    Christie said...

    OHG- great for you guys but you've gotta feel for the 1st home buyers out there- how do you get a start these days? We bought an unrenoveted property 4 years ago (at the time thinking that property prices were mad) & it is now (after a reno) estemated to be worth about DOUBLE what we paid for it-yikes!

    crafty said...

    Sill waiting for our house to sky rocket. Damn it.

    dancingmorganmouse said...

    Happy anniversary - ain't love grand?
    Sydney, Melbourne, all pretty much of a muchness nowadays.
    When the bloke next door told me how much he expected to get for his place at auction it fair blew my mind - I mean it's only half a house.
    Problem with all the value increases is all the other houses have gone up just as much - still, it does make you feel rich!

    crafty said...

    Still

    crafty said...

    oops, and happy anniversary.

    Laughing at you and hubby havin' a toddle down to the neighbours auction ... hee hee hee.

    meggie said...

    Good for you!!
    I feel you have the gift of choosing ahead of your time.
    Your wonderful sense of style would seem to bear this out too.

    Happy Anniversary!

    dottycookie said...

    Happy anniversary (belated)!

    It sounds like you have a career in property investment waiting for you ...

    Janet said...

    Indeed, that's a mighty fine anniversary present. Fingers crossed one day we'll be in the same kind of possie (but on our side of the river).

    Congratulations :)

    Victoria said...

    I suspect $1121000 would buy my whole town!

    Victoria said...

    P.s. Happy Anniversary!

    Stomper Girl said...

    Happy anniversary!! I wish I could see more of your wedding photo.

    Fixit's Pop lived around the corner from you. Clearly the Fixit family should have held off on selling his place for a bit longer!!! (Our families - both sides- don't have your gift for real estate)

    Damselfly said...

    Wow! Lucky you! Sounds like a good investment, plus you obviously love living there, which is even better.

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