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Your Investment Property | 22 Jun 2015, 06:53 AM Agree 0
One of Australia’s best known on-line property forums, Somersoft, is set to close
  • Adrian | 22 Jun 2015, 11:41 AM Agree 0
    It's a shame they had to close but I don't think it had anything to do with the cost of running it which would be negligible (maybe $2,000 - $4,000 per annum). The Somers have made a lot of money through property investing and can easily afford to keep it open so I think there's other reasons behind the closure.
    • Simon | 10 Aug 2015, 11:12 AM Agree 0
      Actually Adrian - your guess as to the costs of _hosting_ the site are not far off (closer to $5,000 per annum) - and indeed The Somers would never have a problem meeting those costs. However, that fails to take into account the cost of administration and management of the site - people are expensive and the site has been professionally operated on their behalf for the past 8 years. So you're at least an order of magnitude off the actual running costs for the site.

      I can assure you that it really was costs which lead to the decision.
  • Jenny L | 22 Jun 2015, 10:44 PM Agree 0
    Sorry to see Somersoft close down. I think that leaves Australian Property Forum as the longest running real estate discussion forum in Australia? I wonder if this means the housing bubble is close to bursting? Scary though!
    • Simon | 10 Aug 2015, 11:16 AM Agree 0
      Actually, Steve McKnight's site has been around since the early 2000's ... although it has gone through a few iterations over the years.

      Although it's not purely real estate - InvestEd also pre-dates APF by quite a few years.
  • Jim | 23 Jun 2015, 04:16 PM Agree 0
    It was a good forum except at the end hijacked by a few who ganged up on anyone who expressed anything that they did not like. I stop posting on any forum now.
  • Jean | 23 Jun 2015, 05:35 PM Agree 0
    A new one property chat has been started up being run by Sim who was one of the main guys that kept Somersoft running for the Somers. Early days yet but a lot of members have migrated over to it from Somersoft. It is going to be run a little different still free but you can now also advertise on it at a fee.

    Looking good so far no doubt there will be a few tweak's along the way, all the main finance guys and girls are there to answer your questions. So may be the end for one but the beginning of another.
    • Simon | 10 Aug 2015, 11:17 AM Agree 0
      Thanks Jean - the new site is going really well, just hit 40,000 posts and should pass 2,500 members today, only 52 days after launching!
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