WA Perth is entering Boom cycle

Hint hint, .... post on - Newcastle is booming, many posting numbers that look attractive, is it fact or is it fiction?

Identify areas in Newcastle, start phoning many re agents to keep them honest, but make sure you know the suburbs/areas and the demographic, the basics, median house/unit price, etc.
Ask
What is selling/Product
How long is it taking to sell
Who is buying
Are you getting multiple offers
Are people paying above asking price
What is not selling

Check out realestate.com, dead give away is when you see many lists of UNDER CONTRACT...hint hint.

Not saying Newcastle is booming, I don't know I am not buying in Australia.

However, if I was jumping onto this, it would take me about 1-2 hours to work out what is happening and whether its a rising market and if it is I would be identifying the suburbs I can jump into to make money straight up, or access equity relatively quickly

 

Haha, I wish I can figure it out in 1-2 hrs too.

Excellent questions to ask, I'll actually write them down somewhere.

Thanks for the hint about Newcastle. Isn't Newcastle a bit volatile? Not diverse enough economy? Population is not very large either.

 

that's where homework comes into play, as I mentioned its about finding out what is happening on the ground and taking advantage of a market which is booming, it is the easiest way to make money.

 

At least a car. Some have a daily AND a Saturday night special. I have a car and motorbike, as do many of my friends.
Soon the standard home will be a 5/3/3.

 

Dial before you dig helps. That site had a sewer line connection at the tip of the triangle and no easements. It still had an overhead power line so would need a dome and connections runs off that. If you allow $7.5k per unit you should be covered for all of them I reckon.

 

So we have had 2 consecutive months of house price increases. Suppose we shouldnt look month to month but quarter to quarter. Two to three consecutive quarters of growth plus a few other factors (employment, level of stock) should help confirm if we are past the bottom of the market.
Perth’s Median House Price Increases Again In December|Latest REIWA Data

 

Yes there has certainly been a nice "pop" in the market since 3 months ago when Ald started this thread and I was noting increases in high level sentiment. This thread lasting 22 pages and going strong just shows that people are taking interest in the west and can see the enormous value here in comparison to the eastern states. A lot of the "detached house" listings in Mt Claremont, Floreat, Wembley, North Perth, Mt Lawley/Highgate are all under offer, so I suspect they are from Perth people who have held off the last year to two buying their PPOR. 3 months ago was the start of the inner city suburbs pulling away from the outer suburbs, I think we will see, less development in these areas, therefore less supply and continued ome growth this year from these suburbs.

 

Yeah I saw that. Still happy to wait and see what happens.

I prefer to buy when the market has risen 5% than buy and watch the market fall 5%

Still a lot stock on market.

 

I agree Ross.

I think perth is sitting on the edge of a knife.
We are entering a period where our wider economy is slowing, with high unemployment, low population growth - yet with a higher interest rate environment.

A rate rise (or 4) will change the market considerably.

Quite happy watching it though. Any move would have to be conservatively leveraged (or with significant SANF buffers)

Blacky

 

one of the biggest sanf factor would be marketability- no matter what happens , knowing that you are in demand by your or another company.

 

Ha ha ha, let's watch Sydney and Perth in 5 years time.

 

Check out Floreat, the best parts are all under contract and sold for $200k increase since 2010

 

Sydney is like the circulation system in a human body that has calcified deposits and blood clots everywhere. It's going to end up with a stroke plus heart attacks and kill the whole body. It's too unplanned for too long and it can't grow and thrive until they start building decent quality complexes that will become heritage buildings and which everyone wants to live in and have walled private gardens for residents only and beautiful high ceiling apartments. With every cheap and nasty building going up Sydney adds a sword to its own heart. It's a city with no future,

Perth has a future because it has resources.

Some silly billy went and mentioned financial districts in Sydney as proof of economic strength, what a laugh. Resources make money and wealth. Financial centres destroy wealth.

 

Watch Karrinyup South between gamble way, and McKlintock and everything beachside from there. No better place in Australia to buy a property to make big money from henceforth. Sydney has peaked. It now costs the same to live and educate children in the best schools in Sydney and Beijing, Sydney has good climate but I will argue that it has bigger social and transport woes and no prospect of capital growth from henceforth.

 

Where is this again? Is Karrinyup South a suburb? I don't go near the beach. I hate it.

 

Perth is going to move now because it's dirt cheap and relative to the rest of the country it has a bright future due to its resources and farming development potential and space plus it's the favourite place of tourists.

 

Most of Karrinyup and indeed Trigg is north of Karrinyup road.
However the most expensive parts of Trigg are south of Karrinyup road because Perths best surfing beach is there and the rock pools just north of Trigg beach are family pools, the only ones north of the river in fact. It's where mums go to play with their bubs. Many women feel safe there and it's common to be topless. Great cafes and gourmet fish and chips on the beach now. The price will go up as there is a swimming pool going in at Scarborough and beach redevelopment there. So the south Karrinyup location is closest to the beach, walk actually, and every surfer wants to buy a house there. Apart from that it's the quickest access to the freeway from any Perth beach. It's right next to the biggest exclusive shopping centre in Perth that is about to be expanded. Public Transport is fantastic, it's good families living there only and on high incomes and they all know each other and never move from there. It's by far the most tightly held part of Karrinyup and even probably in Perth. It can take more than 2 years for a property which are all on big blocks to come to market. The last one on Gamble way sold for 1.5 million. Also I can tell you that many people give the owners big cash upfront and property prices are kept on the books as lower. It's not a suburb itself it's still Karrinyup, but it's a very exclusive pocket basically north of the reserve and beautiful park on Gamble way and south of Jeanes road. It's honestly the best place to invest and door knocking with 1.2 million dollars is basically the only way you can buy there.

 

Basically like I said, Perth is going into boom phase just like Sydney and Melbourne has. The high salary people are all buyers buying out the best addresses. You can't get anything in Floreat and Trigg anymore. If you want massive capital growth however, Karrinyup south is the best thing for the next ten years.

 

Ahaha so this is your explanation for why the sold prices are no where near what you're claiming?

I really, really want to hear more about how you know that this goes on.

 

tell that to NYC, London and singapore- neither of whom have resources.