WA Perth is entering Boom cycle

Discussion in 'Where to Buy' started by Ald, 12th Nov, 2016.

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  1. Beachman

    Beachman Well-Known Member

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    Secret password to get through the gates: 'Is Ald Mate there?' He's trolling you all.
     
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  2. Phase2

    Phase2 Well-Known Member

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    That's because it's Perth's best kept secret. It has been well described if you know where to find it. I think there's a petition with The City of Stirling to recognize this gem but the councilors all own land here, and want it kept hidden from RE search engines and suburb statistics.
     
  3. Perthguy

    Perthguy Well-Known Member

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    Hey @Phase2, have you been to a PC meet up in Perth? @Jess Peletier could be organizing one this month.
     
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  4. Perthguy

    Perthguy Well-Known Member

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    The Perth housing market looks to have entered the early stages of a long-term price downturn. Considerable evidence suggests Perth residential land prices were confidently bid up on the belief the mining investment boom would last well into the next decade. Strong population growth was forecast to continue in one of the few capital cities with a housing shortage.

    In the Perth Smashed Avocado Toast Report , LF Economics examines the long-term trends in the Perth housing market and state economy. Of particular interest is the continuing shift in power between young and aspiring first home buyers and the losses confronting more recent property investors who are losing wealth and income by the day.

    The Perth Smashed Avocado Toast Report Now Available (Free of Charge) - LF Economics - Lindsay David and Philip Soos
     
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  5. Perthguy

    Perthguy Well-Known Member

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    That report is interesting @MTR. Real and quality-adjusted housing prices peaked in 2007Q1. This confirms our view that the 2013-14 mini boom really did only affect certain areas.
     
  6. JL1

    JL1 Well-Known Member

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    Hey Perth locals, question about jobs sentiment right now.

    I haven't been back since November last year which was just after employment bottomed out (September). Sentiment among friends wasn't great, they were feeling the effects of continued layoffs and what not which is never a nice way to enter the holiday period.

    Now with 5 months of no jobs falls and the new year well under way, I'm wondering what on-the-ground sentiment is like now? Are redundancies still high on peoples' fear list?
     
  7. Ross Forrester

    Ross Forrester Well-Known Member

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    I am hearing a few more positive things.

    Fear of rendundancy and reduction not so prevalent.
     
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  8. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I agree with Ross.
    Even had a few friends start new FIFO jobs and seen quite a few adverts for contracting positions in companies that had hiring freezes.
    In the Oil and Gas sector budgets have been set for many companies as far as 2018 and in the teams I know they have been told no more reductions will be needed.
     
  9. JL1

    JL1 Well-Known Member

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    Fantastic, thanks guys. great to see a quick correlation between the data and sentiment.
     
  10. devank

    devank Well-Known Member

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    Resource sector (shares) is continuosly doing well lately. Things will improve slowly.
     
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  11. Phase2

    Phase2 Well-Known Member

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    Check out BHPs jobs page... it's loaded. Redundancies are less likely now, but those out of work are still having a hard time finding a job.
     
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  12. Phase2

    Phase2 Well-Known Member

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    We hope. Iron Ore is still hovering above $92/t, no one knows why it's so high, or where it will go next. Lithium and Graphite are the new players in town but they're not going to have a major impact on the economy even if they boom.
     
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  13. Perthguy

    Perthguy Well-Known Member

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    The $15k FHOG has been a boost. 2 of my friends are building first homes after sitting on the side lines for a long time.

    Businesses closing down is a concern and there are a lot of for lease signs on commercial premises. Word on the street is that a lot of businesses are doing it tough because people aren't buying.

    I have noticed with real estate though that properties are selling if they are priced right.

    While we might be turning the corner but we are not there yet.
     
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  14. JohnPropChat

    JohnPropChat Well-Known Member

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    when market is booming everyone is over speculating and when market is bottom(ing) everyone is over bashing lol.

    Good deal is a good deal is a good deal. Is Perth there? Maybe, maybe not.
     
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  15. Perthguy

    Perthguy Well-Known Member

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    There are deals around but not easy to find.
     
  16. Blunkman

    Blunkman Member

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    Hi all

    I'm looking to invest in property for the first time and doing a bit of research and seeking advice from those who are in the game.

    I'm based in Sydney and have been told that Perth is at the the bottom of the cycle and now is the time to jump on board.

    Is this true, should I not worry about Sydney now and hold onto a Perth property? I am looking at long term and Perth looks interesting.
     
  17. JohnPropChat

    JohnPropChat Well-Known Member

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    If you never bought property then you'll need help on the ground if you want to get something interstate. A buyers agent is not a bad option.

    Perth is believed to be bottom(ing). If you find a good deal then buy otherwise don't. Good luck.
     
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  18. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    It certainly would be easier to buy in Perth than Sydney but if all you know is Sydney then everything in Perth will seem good value :)
    You will still need to be strategic and buy well to be in with the best chance of future growth.
    For a long term buyer you are probably looking at the right place but there will be some pain holding it in the beginning whilst are vacancy rates are high - ie it probably won't pay for itself and will be cash flow negative.
     
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  19. RetireRich101

    RetireRich101 Well-Known Member

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  20. bob shovel

    bob shovel Well-Known Member

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