WA Perth is entering Boom cycle

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

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  1. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    It's a definite that the style and quality were huge draw cards for them.
     
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  2. Perthguy

    Perthguy Well-Known Member

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    Price, presentation, location.

    A lot of the 4x2's are in the burbs, pretty ordinary, listed at a higher rent and too much yard. For anyone looking for something with some style and no yard, closer to the town centre there are very few options. You were probably competing with 2 or 3 properties. That's exactly where you want to be! :)
     
  3. Shankiedoodle

    Shankiedoodle Well-Known Member

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    So if i were to go back to looking at suburbs that might have a neutral gear at this stage, probably 4x2 or 3x2 (Buy and hold), with an entry price of max say.. 350k, would it be possible at the moment?
     
  4. Ald

    Ald Well-Known Member

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    I can report that engineering work in Perth has gone bat crazy again. Miners are starting ramping up again. Lots of the same jobs that were advertised in 2003 - 2005. Demand for people, is there and it will be difficult to let foreigners on 457 visa under McGowan.
    There is money in Perth again for big private investments.
    State Goverment is useless though, expect a massive shock as the libs mismanagement comes to light in the next weeks. It was supposed to be a goverment elected to reign in and kill the debt, they did nothing. Nor will labour actually. But the outlook for jobs is great.
     
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  5. Ross Forrester

    Ross Forrester Well-Known Member

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    Welcome back Ald!

    So happy to hear your theories. They make me happy.

    Thank you. Please do not stop.
     
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  6. Blacky

    Blacky Well-Known Member

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    Yeah, People are flooding back to Perth due to the increased mining activity, Perth housing demand is going to go THROUGH THE ROOF due to this UNPRECIDENTED population growth!

    oh...wait...

    Housing fear as population rise slows

    Bite me reality...bite me!

    Blacky
     
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  7. mrdobalina

    mrdobalina Well-Known Member

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    there's more to life than working
    As we all know, there are markets within markets. And the population growth in South Karrinyup is booming!
     
  8. Phase2

    Phase2 Well-Known Member

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    watching the interest rate rises... CBA now in the mix after just announcing a rise in April, there's to be another in May?!

    I get the feeling we're not done with rate rises yet. More hurt to come for Perth, I think.
     
  9. Blacky

    Blacky Well-Known Member

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    There will be another 3,000 odd (direct) jobs to go when Wheatstone fires up in 3rd quater.
     
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  10. MTR

    MTR Well-Known Member

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  11. Hwangers

    Hwangers Well-Known Member

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    thanks for the link - agree with you but can't seem to see if there's been any blood in the streets yet? seems like a long down trend (excluding the top end) which is annoying when looking to buy! happy to be corrected!
     
  12. MTR

    MTR Well-Known Member

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    Actually top end has not recovered since crash of 2007, in fact its been mentioned that its a good time to upgrade primary residence in Perth.

    I don't see blood on the Street, though I think apartment market where developers need to sell will feel the pain.

    The housing prices in general at the moment are price sensitive across all markets.

    I am surprised how many properties if priced correctly are selling within 2 week period. However, rents have been hammered in Perth. If you are looking at investing in Perth just have to remember that even if someone in the newspaper is calling it the BOTTOM it does not mean it is fact, it is just a prediction, the market may still fall back further.

    I believe the outer areas/suburbs will feel more pain, but I could be wrong.

    I have said it many times before, until we see a recovery in the WA economy the property market will not recover, we need this to improve first.

    MTR:)
     
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  13. MTR

    MTR Well-Known Member

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    For those who still believe the Title of this thread, let me shake and wake you up..... Core logic this morning on Perth news stated Perth property prices have dropped around 24%, I have yet to find the link?? but I believe the report is out today.

    Before anyone gets too anxious, it wont be across the board of course, this is a general, but I am on the ground and Perth is not doing well at all, many areas/suburbs are getting hammered. Perth is prices sensitive, how low can you go in other words.

    The higher end stuff remains stable I think? but we are talking stable from the property crash in 2007 yet to recover.

    As I said before anyone thinking of buying in a falling market is taking a very risky position, because you just don't know how low it will go, easiest way to lose money.

    WA economy in a nutshell is stuffed, we have a new Premier (Labour), but we are a long off seeing any sort of recovery. The mindset of buying cheap is not something that is logical.... because for property markets to be healthy moving forward you need a good economy, ie jobs, immigration etc

    MTR:)
     
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  14. mrdobalina

    mrdobalina Well-Known Member

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    Most likely from its peak a few years ago?!
     
  15. MTR

    MTR Well-Known Member

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    don't know???perhaps, but somehow I think that last 12 months, they report yearly.
    Burbs where there is huge oversupply would feel the pain. If you have to sell then there is an issue, but servicing debt is not good when we don't see a light at the end of the tunnel
     
  16. God_of_money

    God_of_money Well-Known Member

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    I am still yet waiting for a bargain around Nedlands-subiaco area
     
  17. MTR

    MTR Well-Known Member

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    they have been around for a long time? what are you looking for, product?

    If its townhouses, my g/friend had dropped rent from $550 pw to about $450K, something to consider when buying, the yields have also been hammered. Good time for renters.
     
  18. God_of_money

    God_of_money Well-Known Member

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    the average free standing 'federation style' house price is still above $1million. It has a close proximity to UWA and KEMH..
     
  19. Perthguy

    Perthguy Well-Known Member

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    In Nedlands, that is a bargain. Look at the prices years ago. They were much higher then. Not sure about Subi. I don't follow it.
     
  20. MTR

    MTR Well-Known Member

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    for unrenovated? and not the better pockets? not that it would matter really ..... cheap as chips, though you would still need deep pockets to hold. Not sure what something like this would rent for?

    Read where someone purchased a very cheap development property in Claremont could retain front and build at rear, this may actually make sense? don't know, its a numbers game, but holding property at this value where rent may only be $600 pw???? may be difficult??? I don't know your scenario but with lending tightening it may be risky??? as you are holding for hopefully growth. It will happen eventually but crash was in 2007 blue chip that is 10 years and still waiting.
     
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