This weekends auction results for Sydney were 84.8% of 1330.
Which means if recent finance reports of 42% of loans being investment properties means that there were 450 investment properties purchased on Saturday.
Now for the million dollar question…….how many of them were making more than 3% rent before costs (or delivering better than break even after council/strata fees + mgt fees + insur + int)
Repeat after me……Capital Gains are great….but they don’t service the mortgage.
Rents service the mortgage…..if rents don’t go up….prices cant continue going up.
They cant continue like this.....can they?
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