WA Perth Market 2022

Perth is a one horse town. Move along nothing to see

Now Sydney has a strong eccommy based on restaurants, bars, cafes and gyms. Under Covid it ground to a halt.

What is the main "industry" in Sydney?. Selling insurance or finance?

Sydney 2026: The jobs of the future

 

Built attached for $210k turn key including paving, concrete, landscaping on battle axe block with paved driveway (no fencing included).High specs Start August 2020 finished in 6 months. Posted on this forum for opinion on price then.

Built three villas in Balga in 2015 turn key, high end specs including landscaping paving and 56 meter cavity filled retaining wall as block had 3 meter fall from one corner to other + demolition for $595k.

 

Great prices. What would it cost today. For example got one away at 227k ...$235k . I think the days of things being this cheap maybe over no?

 

What is numbers and end value on the battle axe? Did you sell it?

 

I think you are correct, will be very hard to get those prices now, @MTR might be able to give you better idea as she is building right now. I have learnt it the hard way, got it wrong fist time and walked away leaving my deposit with builder($3k) but saved tens of thousands on construction . Learnt a lesson from there always do your own plans and shop around to find a better deal.

 

Settled on block in 2018 for $228k including legal fee.

Construction $210k

holing cost about $30k

planing and permit= $5k

total = $473k

It is in Embleton, I think it will sell for around 570k, but I am holding and living there as I got $45k home builder and building bonus grant. I might sell in an year if I feel I have enough funds to buy a nice PPOR.

 

I'm with @sash I think these would have cost more than $600k to build turnkey.

Plus I'd say the front might have sold for $410k but the rear 2 might have sold for less.

However the owner might have gotten some grants so that could push the profit back up.

 

Congrats very nice!

 

Yeah. I get ya...my task for 2022 is to be even more creative on containing building costs. But I must admit.....the number of builds are tapering off...this will contribute to less supply. People are scared of building but will buy new stock readily. Interesting.... I like to venture only where madmen and Englishman venture in midday sun.

No guts no glory.....

 

Prove to me that Perth has traditionally been highly reliant on mining industry?

Below is an infographic on what industries people are employed in Perth.

 

I am happy to share my numbers for all and sundry...once they are built. So far still contained under 410k.....expect it to be worth 550k-600k on completion. Lets see. Doing a couple of these.

 

10A Tangmere Way, Balga, WA 6061
https://www.realestate.com.au/sold/property-villa-wa-balga-138157898

10C Tangmere Way, Balga, WA 6061
https://www.realestate.com.au/sold/property-villa-wa-balga-138166222

A and C sold for $410k not too sure about b as it is still under offer

 

Thank you kindly!!

 

Would be nice, will certainly learn from your knowledge and experience.

 

Nah thank you ..I learnt a few things off you also.

I think your strategy and in depth knowledge of mutibuilds in current market could be great...if you refined it for the mid or upper market it would go like the clappers. I reckon that 3x2x2 villas will perform just as well in some areas as older houses particularly if there is an older demographics.

 

@MTR @Westminster am I the only East Coaster who is convinced about Perth.... where the are others... are they are buying but keeping their heads low for fear of the great unwashed?

No matter hard to convince people.... it is the same thing when Newcastle...Geelong...Ballarat...

 

I don't really care if they don't want to invest here - I don't really need the competition. I don't need to prove anything, they can google and find out the information it's not hard.

 

@PropDir
Mining contributes to 30% of the state's economy but the government is trying to diversify the economy to make it less reliant on mining. The mining boom gives the government more funds to pay for big infrastructure projects, which will help further boost the economy.

Moving beyond mining - News and Events | Curtin University, Perth, Western Australia

 

Sydney here @sash and bullish on Perth. I missed out on Brisbane as I bought in Sydney end of 2020 and recently settled on a place in Perth.

Really keen to snag another in Perth, just need to see what the broker says.

I keep coming back to Perth median price, Perth economy looks in good shape, similar wages to east coast.

Low stock, low days on market- everything is under offer, higher yields than Sydney & melb. Just so many of the key indicators are pointing in the right direction. Only thing that spooks me a little is the potential for interest rate rises but in many areas, poperty is cheaper than the previous peak when interests rates were higher.

And this is all with closed borders…..

 

Wow that 'Western City' business hub sounds exciting. I can see it happening given upcoming Badgerys Creek.