Hi Everyone, I'm am a investor in Perth, both commercial & residential. I work for a software consulting company based in Sydney and keep an eye open on the Sydney market while visiting the office on regular occasions. I also am active in the Stock Market. I've been reading PC for a while before joining. Have a great evening, everyone!
Hi Arnel, I have lived in both Perth & Sydney, both have their ups and downs. Sydney is great for jobs in my industry and has some really awesome places and things to do. However I found the cost of housing, living and travel times can really get to you after a while. Perth has really grown over the last decade, but still feels small in comparison... both a good and bad thing! Before the boom, housing was relatively cheap, then prices went silly, however there has been in a slow steady decline for years now. There is really awesome nature and wildlife in WA. I think the biggest issue is travel time, to and from other Australian and international cities. Want to get anywhere? You're stuck in an expensive plane ride for a long time. For business, the time difference between the east & west coast can be a bigger thing than many realize. I also lived in Melbourne and spent a couple of years in the U.S., both east and west coast. Came back to Perth and saw how cheap real estate was and started investing. I love parts of the US, but as a place to live I prefer Australia
Welcome to the forum! I moved to Perth from Brisbane in mid 1999 and thought Perth was cheap. I just wish I invested in premium suburbs back then. I just found this old print out! So cheap!!
Yeah I agree with you, Perth will always be Perth. My family lives in Mebourne so I commute there a lot. What’s your investing stragtergy?
It's dynamic... got to change with the times! Originally I purchased when cheap, but tried to not over-extend and then payout one to be cash positive before taking on a new one. Sold some of the older properties during the boom as maintenance costs and requirements increased. Strange how when property values plummet, maintenance costs still keep going up! I was waiting for the election before doing anything else in property, lots of share activity & have learnt a lot. Recently sold back to cash. I think ( as others have debated heavily ) it's going to get a lot worse before it gets better... happy to sit on the sidelines for a bit longer. How about you?
Fair enough, I’m a local builder in Dianella, personally I develop land with minimal delay. If the readability stack up do it then and there don’t wait for external factors such as “capital growth” the hope of something. No need to be greedy. I’m looking for a site at the moment. I only stick to within 10kms of cbd and close to public amenity. I feel they are relatively steady in an unstable market. You think Perth will continue to fall?
We've been dropping steadily, however seem to be bottoming out... at least in the areas I keep an eye on. However I think the thing to keep an eye on is the overall economy - and that does not seem to be turning around anytime soon.
