WA Perth market 2019

Yup it's so cheap to rent now but I think they can see the writing on the wall that rents are already starting to go up and it might be best to buy in cheaply now and switch to a mortgage.

 

For sure, what will be interesting though is if this can get interest moving for investors. Apparently the government has put upwards of 1 billion into mining projects so depending on when this aligns up we could see a perth boom. However I am doubtful we would ever see numbers lile Melbourne or Sydney.

 

Interesting comment - I also get the sense of a two speed market - inner city in traditionally good areas seem to be holding, but still poor performance in others (Mt Hawthorn and Yokine are good comparisons to demonstrate the difference)

Out of curiosity, what are peoples thoughts of south of the river? Seems to be alot of commentary about places north. I'm tossing up between buying a PPOR with something on smaller land holding in nicer suburb (Manning/Como/Mt Pleasant) vs something a bit bigger but further away (Bateman/Willetton/Bull Creek).

I've been keeping my eye on the market for a while in these areas and prices seem to be fairly static. Interestingly property around RHSZ are doing well with quite of bit of subdivision activity (esp of corner blocks) and maybe a little overpriced...

 

You don't need to settle for smaller blocks in these areas. Something like this would be nice. 7 minutes to AXSH and Garden City and bus port


https://www.realestate.com.au/property/17-barrisdale-rd-ardross-wa-6153?source=property-search-p4ep

 

Hi all,

I've been reading a few property research papers/reports - most of which seem to point to increasing confidence in most markets in Perth, but a lot of them suggest Perth won't really take off until investors can see marked signs of improvement (ie decreasing unemployment, increased spending on infrastructure and mining projects etc. Office vacancy levels is also a good indicator on business performance). Therefore I'm keen to keep a close eye on these factors - can anyone suggest reliable sources for any of these?

 

It probably depends on your budget, lifestyle and schooling requirements if you have kids. Rossmoyne, Applecross and Willetton High all have good reputations so you'd probably want to be in there is you intend kids to go there. Only half of Bull Creek gets to go to RHSZ so the other half is cheaper. That price discount might pay for the kids to go to All Saints though so not such a bad thing.
I'm building in Manning at the moment - some of it is nice but some of it is very average. I'm building a duplex in the Salter Point part of Manning with the intention that my potential buyer is someone who wants Salter Point lifestyle but not Salter Point prices.
All 6 of the suburbs you mention have pros and cons.

 

I'd forget about those and just wait for rents to increase. That's what happened last time.

 

Apartment developers in places there is no demand for apartments are getting desperate

 

Cockburn is great. If your lucky you can get an apartment with views. Grid lock freeway at peak times and the train station. Hard to go wrong. The train line to Thornlie is going ahead too.

 

I'd be trying to snag a view of this

 

I was being deadly serious.

Perth traffic is a pussy cat in relative terms. This significantly erodes the benefit of living in the city or even close to it.

Perth is the city of the sprawling suburb. The lack of infill and density mean that apart from a couple of spots in the city and maybe Leederville you are not missing out on much amenity wise by living in the burbs.

This makes it very unusual Comparisons with Europe are unfair but even in an Australian context Perth inner ring has **** all to draw people and boost property prices in the way that happens elsewhere.

As a friend visiting from Europe remarked to me as we were strolling around the city one Friday evening: Where is everybody?

Rattling around their four by twos in Byford I thought to myself.

 

Perth prices fell by 1.0% in May and 8.8% year on year.

The median price is around 2004 levels which in real terms is much lower, taking into account inflation.

So no sign of bottoming out as yet.

Housing Downturn Losing Steam As The Pace Of Declining Home Values Continues To Reduce In May

 

*2006 levels

Hopefully this MoM decline is a bit of a one-off, but it does look like we're on track to cross the 20% peak-to-trough decline in median price in the next few months.

However, the rental market does at least continue to show strength (from Shane Oliver's Twitter account). Great that we are actually below the long term average capital city vacancy rate, hopefully this persists and accelerates rental price growth.

 

I'm calling bottom. I think now that the election is over, interest rates have dropped, APRA easing, it's easier for FHB to purchase I think there will be a very slight gradual increase over the next quarter.

 

Agreed

 

I concur except if it falls a bit more next month then I will revise my position.

 

No one will ever truly accurately pick the exact bottom. And if you do its by sheer luck.

 

That's because the market doesn't bottom out across the board. Good inner city is already moving. Mid ring is stagnant and outer is still falling. By the time outer ring starts moving up, you already missed the bottom of the inner ring

 

Redcliffe any good to invest, new train station, dfo and Costco coming around there?

 

Aircraft noise might be a real headache for tenants...just my 2c