WA Perth is entering Boom cycle

Victoria build their trains in Dandenong, and both the A and B series trains used in WA were all built by Downer-EDI in Queensland. Ironically, Queensland sought its latest trains from India for cost savings but that has backfired with poor quality/non-compliant workmanship of the delivered product.

I just had a little google and found this. I'd like to think that Labor would have to deliver on it, but as you say, when it comes to election promises...

Labor pledges $400m for WA-made rail cars

For reference, I call that the bottom based in ABS data. Number of jobs in WA (particularly full time) have been gradually rising since then, after continued falls since 2015.

 

yes perhaps a little negative sorry but what I see in Perth now/today. Hope I am wrong

seeing properties selling much lower than in 2014

Dont know what the investor/oo mix is in terms of % do you?

Who would not like consistent growth?

Developer smarts is good, dont know hiw this works today

 

Ok, did not know, that will help

 

In terms of properties selling lower, I am a bit immune to what is happening generally as I only own and live inner north city suburbs. I do agree with you that Perth has dropped back 10% or more and some areas must really be suffering, but imo they deserve to suffer due to the type of product built there in the boom. I still believe there has and will continue to be a separation occurring in the Perth market. From what I can see in my own research and speaking to those agents is that the suburbs, i.e. leederville, north perth, highgate, wembley, nedlands etc. prices have been steady or risen over this period and supply is on the low side now. I know some specific areas in leederville (along carr place) and highgate (between beaufort and lord) that has had positive planning changes recently with the new built form 5 policy adoption by the City of Vincent, meaning changes from residential to mixed activity use and height storey increases from 2 to 3 stories, respectively meaning a lot of these smaller to medium (400-800m2) R60/80 sites can actually fully utilise the plot ratio on the zoning.

In terms of investor/oo mix, from what real estate agents tell me in these suburbs it is mainly oo upgrading or securing quality houses/sites. I still hear the investor sentiment within in WA and overseas (singapore etc) is negative because of herd mentality, this will take a while to return, but hopefully will.

By developer smarts i mean, buy sites that aren't obvious to builders on what can be built. Challenge or take advantage of planning rules to build something unique or squeeze more on the site.... as city of perth/vincent have the urban infill requirements to meet . Most importantly take advantage of the low construction costs now and in the next 2-3 years while developers and mum/dad investors have stopped building cookie cutter villas in the outer suburbs.

Putting a floor on the GST could really be the major piece of good news this state needs, lets hope it happens.

 

Anyone know when TPS 2 will be gazetted at city of Vincent?

 

I'd love to actually know. Considering for the past year it's been "very soon/not long/3mths"

 

http://blog.udiawa.com.au/article/a-short-history-of-wa-housing-cycles

Perth property prices dive back to 2007 levels

 

I'm talking about a specific suburb/area, not the market at whole. This was in response to a post by someone else also regarding this specific area and unless there is the ability to buy "the market" like a vanguard fund then the articles above, while informative, are irrelevant in this particular discussion.

 

that's a cool story, perhaps you should be providing the stats on Nedlands to support your claims ..........

 

I'd suggest getting proactive if you're genuinely looking in the area. In some cases im seeing 20 odd% growth for like vs like, or people getting significantly worse homes now vs a year ago for same price

Eg - 12 month gap - Florence st neflands

47 Florence - may 2016 - $1.8m substantial single storey 90s 4x2 home with pool, great alfresco etc, presented well -




96 Florence - may 2017 - land value home in need of demo or significant renovations, $1.72m

87 melvista, land value like 96 Florence but slightly superior property, Feb 2016 - $1.52m - so entry level land value has grown 200k or 15%


Roberts road, dalkeirh- mid 2016 - full 1100sqm, dated but liveable 5x3 double storey home - $1.62m, a truly outstanding purchase.

Alexander Rd dalkeith - mid 2017, similar land value property with old but inferior home on it on similar type of.street, sold for mid/high1.9s - minimum $300k, or 20% price increase vs the above and this is for an inferior propert
Even city Beach has finally started to move

 

Your nicely and fully renovated single storey substantial neflands homes on full blocks are costing up to 400k more to buy than last year/end 2015

There are many who spent 1.5-2m buying a block in an upper middle suburb and building a decent but thoroughly unspectacular double storey home, or in some cases, a spectacular home on say 500sqm in North Perth

The Roberts road buyer will see their property appreciate $1m potentially in 3/4 years, keeping in mind at peak a value of over $3m.

It will be decades before the new build on 500sqm in North Perth grows $1m, particularly due to the fact that inevitably at completion the owner would've been a few hundred thousand in the red already

 

I honestly cannot believe the price per sqm of some of the stuff in Nedlands/Dalkeith some days - it's just so low. For a PPOR it would just be perfect and I would live there in a heartbeat if half my life wasn't glued to this area for schooling or have a other half that needs a workshop

I'd probably even consider something like this for an IP 12/26 Broome Street Nedlands WA 6009 - Townhouse for Sale #125474586 - realestate.com.au

 

cheap as chips