WA Perth is entering Boom cycle

Girrawheen.

 

I don't think Girrawheen will ever be great again...or ever was

 

Interesting thread...
But just talking is useless. there is a long way between speculation and getting it done.
Has perth market currently reached bottom yet? the rental yield is still not appealing, the property price is still too high..
would better have it closely watched and flight there to get some feeling on the ground sometime

 

From the get go this thread was useless. More reliable info in the other perth threads

 

IMO has not reached bottom. I am in the market but I am not buying. No good deals where I am looking.

 

So you've made a fortune?

 

Current Perth boom



Last Perth boom

 

Spot on PG, there's only one proxy you need to keep an eye on for a feel where we are:
- all the agents pummeling there email database with 'market has bottomed' 'never buy this low again'

When this has ceased and they've gone into their shells (or shut the doors) for a few months, we'll be pretty much at or around the low. Bunch of flogs

 

The bottom was last months, its climbing and chose to ignore it at your risk. Perth owners are getting a whiff of good times coming and you will see supply tighten as they remove their homes from the market in anticipation of a improvement and that's when supply gets tight again. Even at the Perth boom, there were tens of thousands of empty Perth properties that were just being kept with no tenants and appreciating in capital gains. Many in Perth prefer an empty property then deal with property managers and tenants. They don't want to deal with rabble and they don't have to.

 

You will be surprised how quick supply will shrink. Busts disappear quickly after first signs, booms drag on a bit slower.

 

Wow. ...really? Wtf? They might be a behind over there but that's going way to far. Somehow your managing to get your credibility score into negatives.

Perhaps consider getting a breathalyser hooked up to your computer

 

I live in Perth. And I would prefer to collect money from rabble than to get have empty properties.

 

Wrong. I am looking for a property now. The market has not bottomed out. I am looking in the Bayswater area. Prices are still falling. You can't pretend to know the whole market in Perth but you don't. You might be our forum expert on a special pocket in South Karrinyup but you do not know the whole market. What is happening to prices in Beckenham and Thornlie? Have they bottomed out too? Are you our resident expert on those areas too? Didn't think so.

 

I'm with Perthguy on this. I live opposite of Karrinyup and I wouldn't stake my name or money on anything around here going up soon.

my perspective might be bias' as a FHB (figuring out what risk is acceptable), but I find it hard to justify some of the prices around these north western suburbs. Yields of 3-5% based on rough paper calcs. Honestly, until we start seeing some immigration and employment breathe some life into the market, I doubt many people are going to be entering.

 

Ald from NSW has decided to buy all of Karrinyup, good luck Ald.

 

During the last boom there were many primary place of residence properties that were close to the 5 year mark of being rentals and exempt from capital gains tax as everyone was working in the mines and on weekends of would go to Bali. Many people were doing FIFO from Bali. When your property is going up $1000 a weekend in capital gain, you don't have it occupied as a rental if you must then share the money with the Goverment.

There was an article about it in the West.

The good suburbs are going to go up. That's where supply tightens,
Read my posts I don't buy properties except in the perfect suburbs.
I would not buy in girrawheen Bayswater or koondoola, those suburbs might still experience falls.

 

You may want to read up about the 6 year CGT exemption for ppor's rented out

 

So when you say that Perth is about to boom you really just mean the perfect suburbs are about to boom. It would have been a lot clearer if you just said that in your post.

A perfect suburb for me is one where I can afford to buy. I am priced out of the magical pocket of Karrinyup South, so it is not perfect for me. It is the opposite of perfect.

 

I think times are slowly changing for WA.
Things are beginning to pickup for mining companies.
For example, PLS is going to ship raw product directly to china without a plant. All these days ppl were worried about the plant construction and costs. Now, Chinese companies are beginning to take the raw product.
I hope now is the turning point for WA.