WA Perth Market 2022

I think I overpaid on my latest purchase too but I felt the need to outbid others when I found a great property that ticked all the boxes. There was a nice surprise on the building inspection that it had some double glazing windows that I hadn’t noticed.

 

not bad but not enough to retire yet
you must have done well with Newcastle and Melbourne too Are you joining Perth?

 

Lake Macquarie proves to be good too. Yes I am looking at Perth but my overly cautious approach does mean I’m slower than the pack.

 

ABC talking today about how animal shelters are overwhelmed because people are surrendering their pets because they can't get pet friendly rentals in such a tight rental market.
I allow pets.
Could be a way to get best rent

 

I allowed a cat. It left pull marks all over the carpet. Being over 10 years old not much I can claim from bond.

The neighbors of my rentals are both owner occupied with dogs. I look in their backyards and see a sea of dog poop well I hope it was the dog.

I also often donate to cat rescues. The fate of animals being surrendered is not caused by me I didn't buy the pet while living in rentals. I see ads I am looking for a rental and I have a puppy. That is a pass from me.

 

I have heard that children can be more damaging than pets.

 

https://www.realestate.com.au/sold/...9939:bid:0bf8b38b-811b-48b3-823b-c4d551fb0de0

This house is gorgeous! Great price.

 

Not late for Perth only just started

 

Parents. I know of 3 lots of damage caused by children. From cultures where the mother isn't allowed to discipline the children one was males the other where male/female children.

Same with pets. It's the humans. I struggle to get ones to water the garden. Never mind look after a pet

 

We have a newly built property in Morley. We very recently had 15 applicants and ended up with $45 more than we posted. I would hate to be a renter in this market.
We did allow one small dog as a pet.

 

Someone has lost their mind paying that price, I can't help but think they must be out of town buyers or recent arrivals.

While ashfield has cleaned itself up a bit, I'd be shocked if there weren't at least 4 houses within walkimg distance that are permanent drug dealing homes, notice how in the ad it makes a point to say there are crimsafe screens installed on all windows downstairs? There's a reason for it....

 

I’d still be happy to take a profit.

 

I still dont think its worth it. Pet bonds can only be used for fumigation for the property in my opinion, while the property are usually damaged more than that unfortunately.

I think theres a bit of FOMO going on, I have been looking for a while now, the moment I scroll to a listing that is decent in my parameters location, size etc wise, its under offer XD

 

This was a good one to add value. Rare as hens teeth, on this size block

Mt Hawthorn no brainer

https://www.realestate.com.au/sold/property-house-wa-mount+hawthorn-138731695

 

Anything that is modern or modernised is achieving great prices. I certainly wouldn’t want to build in this market and I’m sure plenty of other buyers feel the same.

https://www.realestate.com.au/sold/property-house-wa-bassendean-138884887

https://www.realestate.com.au/sold/property-house-wa-bassendean-137886174

 

i certainly won’t pay 880k for the first home. Looks like a PPOR buy.

Looking for places I can do some value add, but I think buyers have same thoughts.

 

Another record price only on 465 sqm land
Just Sold another on this street for over $1,000,000 I think it was 26 offers

Its going to continue to rise, this suburb is in high demand …. Same as Melville, Palmyra but higher entry price



https://www.realestate.com.au/sold/property-house-wa-willagee-138823031

 

Almost 30pct more than the 2017 price. Assuming it dropped further till 2019/2020, how much growth over last 2 years?

 

incredible growth, I have seen at least 15%+ pa over last two years

The reason why this suburb has been a star performer is

gentrification

R40 zoning attracting developers, quality builds

In Desirable Melville School zoning

Proximity to city and Fremantle

Surrounding suburbs at least $100k+ more

Satterly development, high spec homes.

Low/no stock

Rents increased at least 15% pa too, not enough stock, tight rental market

 

Rental listings collapse across Australia

Look at the line for perth in the vacancy rate graph. Thats some drop. If the inverse correlation with cap gains holds true again, prices to double over 5 to 7 years. Seems to be a 2 year lag between lowest vacancy rate and highest price peak, and vice versa. Are we at lowest vacancy rate yet? Nah