WA Perth market 2019

@Jess Peletier is probably responsible for everyone moving to Madora Bay [/QUOTE]
It's no secret I love living here Come join me, y'all! Capital growth for all!

 

As seen on Beachfront Bargain Hunt? Great view

 

It's no secret I love living here Come join me, y'all! Capital growth for all! View attachment 28649 [/QUOTE]
Umm... what’s the stick for?

 

Good and bad seems to come with the train lines and some that ride them

 

Umm... what’s the stick for?[/QUOTE]
Don't even ask - hubby likes to take nature off the beach. You should see some of his 'art' that's sitting on the deck....

 

Is that a real program!

 

Yes. It's a US show. People buying "cheap" beach side properties. Made me go looking for them close to Perth

 

Agree a train station will bring some seriously poor standards to the ellenbrook/avelely area.

There is no secret that the end of train lines have major issues. Ellenbrooks not going to be any different and in my opinion going to be far worse.

 

I actually disagree.
I think you can correlate that end of line suburbs have more issues than other suburbs but it is not causation.
The fact is that end of line suburbs are all far from the CBD and that creates cheap options therefore lower socio economic which probably a higher causation than the train station.
Ellenbrook already has plenty of issues but that is mainly due to distance and it's because of it's percentage of Homeswest housing, socio economic price point and being in the middle of bom fork nowhere. It already has the end of line issues. The train station might actually help with that by increasing the options to get out of there for work. The surrounding suburbs which have less issues may also benefit.

 

The most remarkable thing about the Ellenbrook train line is that it will run up and down that line empty or close enough to it. That’s why the last State Government scrapped it.

 

That'd be it.

Stage 1 is cheaper than Stage 9, etc

 

Ours was definitely cheap compared to what you'd pay in Perth. We've done some cosmetic renos to add value as well but even with that considered we feel like it was a bargain.

 

Agree already has those sortve issues but i think they can becomes worse.... proof will be in the pudding

 

26yo, first home buyer. Is now the time to buy? Or will i be better off waiting it out 6-24 months for any correction?

Ive been reading mixed reviews of the market; some saying the correction has already been factored in to Perths current prices, others saying the Mel/Syd downturn over the next 2 years will drop Perth prices too

Is it possible the government will increase incentives over the next 24 months which i may miss out on if a buy now?

 

Id have to check but i think there is rarely any correlation between perth and mel/syd prices.

 

If it is for a home to live in for a long time then yes a good time to buy in Perth. No rush any time in next 12 months if "experts" are to be believed. Just find a property that is priced correctly to buy. Having a bigger deposit never hurts.

Most "expert" predictions of what is happening in Perth are guesses. Look back at future predictions for 2016 2017 2018 2019 Perth markets. Some just seem to say the same thing every year.

Free handouts just make property cost more.

 

Incentives increases have happened in this down turn and it was a $5k boost if you were building it only ran for a short time - maybe 6mths?

Because it was a building boost it was mainly used in the land estates in the outer reaches and they are the areas which have been hit hardest and may still drop further. So the boost just lured them into the worst areas. I’m sure there were people that used it on an infill project but they would have been rare

Now is a good time to use your FHOG (especially the stamp duty concession) if you buy smart. Or you could buy an IP and keep renting and save FHOG for later but I’d probably use it now and get the best you can afford.

What type of budget do you have and needs

 

Now is the best time in probably 15 years to be a first home buyer in Perth IMO. It's an absolute buyer's market - plenty of choice and time to shop around, mortgage rates are at record lows, agents treat you like royalty and prices are cheaper than they've been for 10+ years in real terms. If you are buying a PPOR for the long term, I would not be concerned about the prospect of another 5% or so fall in prices (which may not even happen). Just the benefit of being able to shop around, and find the perfect house at your own pace is a huge benefit. Buying during a tight booming market is awful, particularly for a FHB (I can say from experience) there is much less choice, lots of FOMO, you are rushed in to putting offers on places and often end up overpaying.

There is no rush, but if you are in a position to buy I would be out there looking at houses. And probably wouldn't bother with a new build since you will more than make up for the missed $10K grant in the value you get buying established in Perth right now.

 

What area's are you looking in? Of the suburbs I have been watching I am seeing scarbs/dview are selling pretty quick the last 6-12 months so wouldn't muck around too much if your interest lies there. Hilton also seems to sell quick if priced correctly.

 

Depends on your budget and whereabouts are you wanting to live. Blanket statements don't correlate well with on the ground research.