WA Perth a safer bet than Sydney?

Sorry I genuinely don't have actual addresses but Duncraig was one suburb. And I guess they could have been lying but unlikely...

 

How have you "personally seen proof" but "genuinely don't have an actual address?

Sorry. But 20-30% returns seem unlikely in the dubcraig area for this kind of project. However I am very willing to be proven wrong.

Blacky

 

If you want to buy in Perth I would be sitting and waiting a while. Bit of a gamble to buy now imo.

Population growth/vs New completions doesn't look good.

The state driving nationwide rise in mortgage stress for homeowners

After reading stories like the one above and considering the reasons for low population growth I would say the full fallout from the slowdown in WA hasn't been felt yet. Still working its way through.

 

not much else to say

Answer to both is why , when there are so many other places that ARE moving up up from the bottom and aren't close to the top

Only reason to buy in Perth is you don't trust BA's to buy else where , you don't want to buy sight unseen , you have a fear of flying so can't get in a plane and your car isn't reliable enough to drive over to the East and you don't want to leave your money in the bank .

Cliff

 

WA housing prices to fall as oversupply hits - ABC News (Australian Broadcasting Corporation)

Doesn't look good on Perth.

 

What are you basing this assumption on ?

All the so called experts on this forum have kept parroting that Sydney is going to correct, for more than a year now. So as per them Sydney has been at its peak for over a year. Its something like - if you keep saying "Today might be your last day" - eventually, it will come true. Eventually, Sydney will correct, but its not going to be in the foreseeable future. Just purely from what I see, read and connect the dots upon.

 

There's only one gamble in Perth and it's Gamble Way in South Karrinyup, which, if you're thinking of investing, ironically isn't a gamble.

 

I am seeing some happier numbers in business and more activity - but nothing for the property market (yet).

Wait for Perth to show something real before you jump. Back in September it was horrible. Now it is just bad. Mining is fickle and the numbers from China are sometimes hard to interprete or understand.

If some other joker gets 5% more on you because they picked the bottom good for them.

For every bloke who picks the bottom their will be 10 others who picked the bottom 12 months in advance.

As for Sydney - no idea. I struggle to understand stuff (and probably don't) here let alone somewhere else.

Make a plan. Have capacity and wait.

Buying at the top of a market surely cannot make sense - but I don't understand that market. Maybe it is different this time....

 

And I am bullish on Perth long term.

 

I don't think I could pick between Sydney and Perth as I would classify them both as risky.
It just depends on what risk you might prefer, your strategy, which market within such a big area you are playing in and your budget.

 

Erm - haven't read the whole thread but that's not true. I don't think they've even dropped 25% from peak, except in mining towns and possibly the very high end. Did you miss a decimal point?

 

Also, I'll just throw this out there - I have more Perth settlements happening at the moment than ever before, and it's locals starting to buy.

Make of that what you will.

 

Perth seems a good bet to me. I don't know that it's bottomed, but I do think it's close and will likely start to attract investment again soon as WA's economy stabalises. You can't "catch a falling knife", so don't try to pick the bottom. Buy now and you do risk further falls. But look at it this way: if we assume Sydney, Melbourne and perhaps other markets are in a bubble and nearing their peak, they are far more risky. Potentially have a very long way to go before recovering. If you fall from the top of the cliff you're going to hurt a lot more than if you fell from some point half or even most of the way down.

Perth has already seen significant falls. Fundamentals and prices there are far closer to realigning than they are in Sydney, and fundamentals will always act as a natural floor (i.e. investor sentiment can take prices very high, and this positivity-based demand can disappear very quickly, but demand from owner-occupiers will never fall below a certain point because there will always be people who need houses to live in - that part of the demand isn't ever going away).

 

I have noticed some new properties around that seem to be selling for less that it would cost to build them. There could be some value there.

Otherwise buy to reno, build or retain and build could be good options.

 

I think Perth and Sydney actually have something in common right now.. buying could mean tying up capital for a veeeery long time.

 

Hi. Look, what I meant was that some of my friends have shown me properties they have recently bought, including telling me the sold price, then tell me what the costs are for subdivision and holding costs etc. and then tell me what the Lots have sold for, proving they are making those profits. That's what I mean by "personally seen proof". But I haven't actually looked at the sold prices on websites nor have I asked for copies of their bank statements and invoices to prove the costs and nor have I followed up the exact sold prices of the Lots, I'm literally taking them for their word as they are my friends. Hence why I said they could be lying but I don't believe they would.

That's all. I'm not trying to make stuff up, I'm simply telling you of an actual story... I believe you can make money in some very limited areas in Perth at the moment. That's all. That's my opinion. Cheers

 

Are they mostly fhb's or investors? Would love to know more about Perth (geographically) at this point in time.

Just tell us where, we'll do the rest!

 

Some markets are doing OK but it's not investor territory, perhaps upgrading primary residence

Met a friend today looking at Doubleview and Scarborough area, she can't get in due to competition. This is primary residence 900k+, I believe lots of infrastructure spending in particular Scarborough

 

From the other threads likely ppor upgraders incl fhb and savvy investors.

Perth: is a village on the west coast of Australia home to approx 56,000 people(tbc abs). It rely's heavily on mining, although it is not a "mining town". It's close proximity to Asia makes it a popular holiday spot for visitors and also cheap air fares to Bali for the local bintang enthusiasts and fifo workers.
Geographically it is the largest state and comprises of approximately 1/3 of the continent. However, <20%is habitable while the rest is prime for environmental vandalism comprising of agriculture, mining and motocross tracks.
The coastlines are stunning and some of the world's best and largely untouched or over developed thanks to the smaller population and lack of mining opportunities
Economists say the 21st century will be exciting times, provided they learn to grow and not remain the ratbag sibling to the rest of the country "over east".

 

Yesterday's 34cent GST decision isn't gunna help with employment or confidence.
McGowan's gunna find things very stressful I reckon, Nahan's offered a joint attack, be great if both sides can work together for a change.

Will take awhile to sort it out but perhaps time for us to consider cutting the umbilical cord me thinks, perhaps a State referendum on it.

WA's GST share sinks even further