Perth propoerty Investment Recommnedation

Viewing 5 posts - 1 through 5 (of 5 total)

Tejas
Participant
@tejasmk
Join Date: 2014
Post Count: 3
July 7, 2014 - 12:53 pm
Hi Folks,
I am new to this site so Hello to all.
I am looking for making some investment in Perth. Preferably 2BHK off the plan.
Is it right time for investing it or should I hold my decision for some time?
What are the suburbs that I need to consider for investment? Balanced b/w rental and appreciation.
I am also looking for some insight on pepole’s preference for house v/s apartment.
Do people like to stay close to CBD and compromise the bigger space of House or they prefer to drive 20-40 min a day (one way) and prefer the bigger house. I understand that there are both kind of people living in any city but I would be more thankful if I can get some more insight or advice to look for it.
As I am living outside Ausi, your suggestions/thoughts are most welcome.
Thanks & Regards,
Kinnon Bell
Participant
@kinnon
Join Date: 2014
Post Count: 151
July 7, 2014 - 1:02 pm
Why Perth? What is drawing you to Perth?
I’m assuming because you’re looking at OTP that you are a non resident so restricted in what you can buy otherwise established may be a better way to go rather than OTP.
Have a look at the demographics of the areas you’re thinking of buying as different demographics will have different needs so don’t buy a 1 bed studio in an area that is typically young families.
There’s a lot of useful resources out there that will tell you what a suburb is mainly compromised of. Have a look at the ABS site or even just the real estate sites as they have some good investor information there too.
- This reply was modified 9 years, 10 months ago by Kinnon Bell.
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone Me
Mortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
Tejas
Participant
@tejasmk
Join Date: 2014
Post Count: 3
July 7, 2014 - 1:35 pm
Hi Kinetic,
Appreciate your reply.
Yup. I am non resident so need to be new construction for investment.
OTP for two reason: 1) More choice, better deal 2) Time to manage the finance (I have another property investment).
Perth again for two Reason: 1) Looking at the property market and economy outlook of WA, I understand that lot of infrastructure is underway close to Perth CBD. I agree that growth is not as solid as other Eastern cities. 2) I am from oil and gas industry and as Ausi is booming with massive oil and gas projects, so this property can be use as my home when come down to Perth for work (This one is one of the main drivers for me to select the Perth for investment).
I really appreciate your suggestions and will follow it.
Thanks.
Phorsha
Participant
@phorsha
Join Date: 2006
Post Count: 56
July 7, 2014 - 4:47 pm
http://spionline.com.au/blog/latest-blogs/13059-western-australia-top-hotspot-for-population-growth?utm_source=&utm_campaign=_Bulletin07_07_2014&utm_medium=email
Kinnon Bell
Participant
@kinnon
Join Date: 2014
Post Count: 151
July 8, 2014 - 10:20 am
Tejas wrote:
Hi Kinetic,
Appreciate your reply.
Yup. I am non resident so need to be new construction for investment.
OTP for two reason: 1) More choice, better deal 2) Time to manage the finance (I have another property investment).
Perth again for two Reason: 1) Looking at the property market and economy outlook of WA, I understand that lot of infrastructure is underway close to Perth CBD. I agree that growth is not as solid as other Eastern cities. 2) I am from oil and gas industry and as Ausi is booming with massive oil and gas projects, so this property can be use as my home when come down to Perth for work (This one is one of the main drivers for me to select the Perth for investment).
I really appreciate your suggestions and will follow it.
Thanks.
I will preposition this by the fact that I’m not overly familiar with the Perth market but I would be very wary of OTP purchases as a lot can go wrong and not a lot can go right. From what I have read Perth is nearing the peak of the market, which in the instance of OTP not good as your end valuation will come in lower than your contract price. I would read as much as I can about OTP on the pitfalls to make sure I was totally comfortable with the decision.
I would sort finance before entering into any contracts or engage a broker to have a chat with about what it possible lending wise for OTP.
Seeing as though this is a future PPoR for you that changes things a bit as it’s not just a pure investment so a few other decisions come into the mix. I’ll leave it to others to comment on the state of the Perth market/s :)
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone Me
Mortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.