[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

November 7, 2006 - 4:37 pm

Originally posted by zen1:

I have a question that I can’t get an answer so far.
How is the affordability level in Perth? Is it historically at a very high level or still have a bit to go?
I quess China can go bust but can also pick up. I feel the prices have gone stupid but that could be because I am not used to it. But then again probably it has gone stupid. Personally I don’t know too many people buying property at the moment.

hi zen1,

I think the affordability level in Perth is quite high, but I still think there is more to go. A lot of people in Perth bought property before the price rises and so now they have a lot of equity. If they want to sell, they can still buy an “expensive” house.

For first time buyers they are pretty much stuck with buying an apartment or townhouse and even these are getting too expensive for them. Unless the first time buyers are a working couple on high incomes that is.

I do know of people making money in property in Perth (and other areas of WA) so it is still possible.

Real life example from the past weekend:
House was put up for sale for only 5 days. There was only one “home open” time and there was no for sale sign. Over 30 parties looked through the house and three offers were presented. The final offer was $45,000 higher than the asking price, and the asking price was over $850,000.
Property location is quite close to Perth but I am not sure of the house or land size.

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

November 1, 2006 - 3:16 pm

Originally posted by kingbrown:

NSW average adult wage is FOUR DOLLARS more per week than WA.

Statistics. This doesn’t take into account population distribution or the cost of living in different areas in both states.

Originally posted by kingbrown:
But I can tell you – 100k salaries are very common now. By “recent grads” I mean a few years experience. You can “think” what you want, I can tell you, it is increasingly common.

Oh I wish. I don’t know what you are calling “very common” but most of the people living in WA are not earning $100K+.

Originally posted by kingbrown:
The WA economy is absolutely staggering, growing at a rate more than triple that of NSW. We are talking China growth rates – with no end in site.

Why would’nt you buy in WA??? Give me ONE good reason.

I wouldn’t buy in WA now because it costs too much and shares will give a far better return.

Having said that, people are still buying in Perth but I’d say that demand has dropped off. There’s a place opposite me that’s been for sale for a few months now and no drop in price. A year ago that property would’ve been gone at that price before the For Sale sign got put up.
It’ll be interesting to see the effects on the property market here if interest rates keep going up.

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

July 27, 2006 - 4:17 am

Laughing because I am going to get a 0.7% cut to my interest rate on the PPOR. [biggrin]
Not that that has anything to do with investing or the impending rate rise, it’s just something that’s come about by talking to the bank. Perhaps others can do something similar.

I don’t think the rate rise will affect the demand at all in Perth. [glum2]

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

July 23, 2006 - 3:46 pm

No price, it’s “make an offer”. The real estate agent told me that one of the vacant lots sold for $2000/sqm and that one was external to the cinema so I expect the one I am looking at to be less than that.

That’s interesting about the ATM. That was one of the first things I thought of to put in there. [smiling]

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

July 22, 2006 - 7:02 am

Thankyou Mat and World Changer.

The type of people traffic is mostly teenagers, but as all age groups go to the cinema, it could be anyone passing through. Generally though there is no reason for anyone to go in there unless it is to go to the cinema.

There are other shops, mostly food related. So there is a restaurant which has an entry outside as well as one in the foyer. There is a Chinese take away place in the foyer also. In the same complex there is a McDonalds.

Can’t sell popcorn as the cinema does and a business can’t compete with one that is already there. So no cooked chicken, hamburgers, ice cream and popcorn.

Juice and smoothie bar sounds good.
Not sure about take away coffee but that also sounds good.
Video and DVD rental is allowed but there is already a Video Ezy in the complex. [smiling]

Thanks heaps for the suggestions!

Cheers,
Quinny

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

June 21, 2006 - 5:22 am

Well 3 years ago I thought house prices were well above what people could afford.
While I would really like to see a decline in demand for housing in Perth, I definitely don’t see it happening within the next year.

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

June 18, 2006 - 11:37 am

Originally posted by Mortgage Hunter:

I would hate to be the “Rich Guy” from Canberra who buys something the locals have left.

hi Simon,

I am curious about the above statement. Do you consider it a bad thing to be an out-of-town property investor? Is there any reason for this? I mean, is this just something that you are uncomfortable with or is there a more general reason (which could affect anyone)?

I am in WA and have wondered about buying property sight-unseen in another state, and also in country towns in this state.
I don’t think such a tag would bother me, but I would be interested to know if there is something more to it, as I have never heard of this before.

Thanks,
Adam

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

June 8, 2006 - 2:58 pm

Originally posted by foundation:
Ewww, thanks for sharing, Quinny…[eh]
F.[cowboy2]

[blush2] Oooh that innuendo is something I wasn’t expecting in this forum. But I’ll stand by my point. [exhappy]

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

June 8, 2006 - 5:00 am

Originally posted by wealth4life:
2 – Men wants lots and lots – mine is bigger than yours bla bla – women are content with less, its not a race its a journey.

3 – Women are more aware of the number crunching while men rush in too quickly, ask your wife if she agrees

Sorry wealth4life but I disagree with the above 2 points.
I don’t think those things are dependent on sex, more on the personality of the person.

My wife is the one who wants more and more and I am the one content with less.

As for number crunching, my wife will get me to do anything involving numbers where money is concerned and she won’t even be interested in what the figures are. She is also the one who rushes in while I tend to do the exact opposite.

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

May 4, 2006 - 4:32 am

hi Harley2,

Depending on your location and how bad a condition the pool is in there are a couple of options for you.
My Dad is in the pool industry in Perth and so I can tell you these things come from first hand knowledge, not made up stuff.

Assuming you are talking about a fibre glass pool, not concrete.

1. If the pool isn’t in too bad a condition (ie. it’s basically still in one piece) then you can get back fill for it from people who want to put a pool in. They’ll have piles of dirt and if you are willing to transport it yourself you should be able to get it for free.

2. Look for second hand pool dealers and see if they’ll take your pool. Again if it’s not in too bad a condition (and they can see potential value in fixing it up) you could find one who will take it from you for free and back fill the hole. You might even be able to get some money from them too if you say you want to sell it (esp. if it’s got a pool fence and working filter).

Hmm that’s all I can think of for now, unless you were looking for a replacement pool.

Cheers,
Quinny

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

October 6, 2005 - 7:18 am

Currently refinancing our PPOR in the hope that we get more equity with which to invest.

Also, still haven’t taken the plunge to buy investment property before.

[QuinnyMember@quinnyJoin Date: 2003Post Count: 13]

June 15, 2005 - 4:28 am

hi zen1,

I was renting a 3×1 in Padbury for about a year and a half in 2003/2004 for $180/week. Nice suburb, close to Whitfords shops and train station.
I think Padbury has a lot of 3×1 houses on big blocks. There are quite a few houses which have been improved too.
We were considering buying there (to live) but Edgewater suited us more.

I don’t know if you’d get any +CF, but there’s probably some good CG potential there. It’s only one suburb back from the beach. Having said that, there’s also Craigie which you may be able to buy cheaper in.

Cheers,
Quinny