I like to know what you guys think about Perth property market? Do you think prices are still going up next year? I know Perth has not gone up as much but since other places like Sydney and Melbourne are declining will Perth market be soft as well because of the general sentiment of the market?
Hello Zen,
I am not sure what is happening, however no doubt there are many on this forum that can assist.I would say Perth is still going North (if you believe what you read – apparently 9%??), I would say definately a softer market though.
Sooooooo much spin, it can be very confusing.
I am sitting back and waiting at present. I believe that there may be some good prospects down the track.
I would suggest you look at stats where suburbs have performed well over a 10 year period. Also new properties where you can claim depreciation may be worth a look at if figures attractive.
Besides there is too much happening at the moment – Christmas, New Years I would rather have fun. I’m sure there will be plenty of opportunities out there in 2005.
[biggrin]I hope it is still growing. I have a property settling in about March in Queens Park!!!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Perth has always lagged the east by a year or more, so you would expect it still to be strong.
Up in the mundaring hills where I live, established huses have been steady over the last year, but vacant land has bolted to the upside. What was 140k last year is now >200k
Cheers
MA
this may be of interest. an article last week top 10 suburbs in Perth which were expected to outperform over the next 10 years. Reasons such as proximity to beach, developments, new railway etc.
Top of my head some included:Queens Park
Rockingham
Mandurah
Coogee
Quinns ParkIMHO Perth is still growing well, not as strong as it has in the past 3 years but if you look at the past 20 years it has continued to go upwards. I have 2 propertiesin WA, in Duncraig and Wembley and are going well. I feel Perth is a well kept secret – both to live and invest.
You will have to look carefully to make sure you get the right deal for what youre looking for but my pick at the moment would be the older areas between Perth and Rockingham. These suburbs will perform well when the train line is completed and they will be surrounded by new suburbs. Look for something cheap to demolish and develop on a large block or renovate!
Perth is still a cheap place to invest, just do your research as you would with any area!
I am living in Melbourne now, but I miss Perth! [cap]
Marisa,
Thanks for that. You made my day. I have been told that the current value is already $40,000 more than the contract price. If the valuation comes in at a bit better than this, no money down will be needed to own this property on a loan of 80%. I love avoiding mortgage inurance!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Queens Park is a good spot to buy… what did you get? March settlement thats a while away might value higher than 40k more!
Couple of years ago you could get a house in queens park for 120k… ahh i remember theose days hehe Far from it now!
I bought a 3 bedroom house for 239k secured in February this year. It sits alongside a Council Park and it it the last house in a cul-de-sac. It is the perfect family home. It was supposed to settle this year but the development was pushed back until March next year. I am not complaining!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Cant complain about that! So close to the city, long term very good spot and good capital growth. [cap]
Hey everyone,
What do you all think about the Kalumunda/High Wycombe area? I have a 4 bedroom 2 bath house in the new estate there which has been vacant for almost 8 WEEKS!!! More than one property manager advised me i would have no problems whatsoever finding a tenant. Were they talking fairies or is my property manager not doing her job??
Help, talk about negative cashflow!!![confused2]RoryMH
I am a ‘hoarder’, I mean ‘buy and hold’ investor so the long term prospects are very good. Time will tell.
By the way, I have never been to WA. I bought this sight unseen.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Sack your property manager, but only if what you are asking for your rent is at market value. Dont forget it is Christmas so not many people will want to move now!
Look around the area and see what others are asking for similar properties… (Im sure you have already) Id prefer to drop $10 $15 a week than have it vacant for another 8 weeks!!!
[cap]
The reason why I ask if Perth is still going up is because I have a look at a nice 1000 sqm block in Applecross with very old house (2 bedroom brick and tiles). But to get it I have to sell my 2 storey house on 600 sqm block. I have a comfortable home. Location of the property is very close to each other. But I will have to add 200K for the difference and stamp duty etc.
I wonder if this will be a good option (buying a bigger land) but a lot lower living standard.
I really like the block but not sure if it worth doing it now since they have gone up so much. I wonder if I will get a better bargain later if the market gets softer. But if the market is still going up, I might not be able to afford it ever again. The problem with this property is I will have to build on it since I have 2 children and wife it’s currently too small. That’s what I don’t like, spending a lot of money on a building that depreciate in value. Ideally we like to get a large block with older style 4 bedroom house but it is difficult to get. I have waited for 2 years, they are rare.
Am I thinking correctly here, please lecture me if you have different opinion. I don’t mind being corrected (I will be thankfull).Queens park… Urrgh… Taught out that way. Atrocious children. I personally don’t really like that area much but I don’t doubt it has prospects.
Zen, the block in Applecross will propbably set you back an arm and a leg. Why down grade to something that you can’t really be comfortable in. If you’re happy in your current home, stay there until something really bites you in the bum!
The problem with the block is that you would have to develop it somehow. But to develop to the standard in Applecroos at the moment, it would cost you your wife’s arms and legs too!
No one can tell you what is right or wrong. You have to rely on your own gut instincts and what is best for your family. Rememeber, money isn’t everything when your children are whinging thath they have to share bedrooms each and every day!
Cheers and Merry Christmas.
Steph.Success is 1% inspiration and 99% perspiration.
yes IMO prices will continue to rise especially in those lifestyle suburbs such as Applecross. As Steph has pointed out though, construction costs have gone through the roof and are unlikely to slow down – developing will be a very expensive exercise. You need to do your homework to see if you can produce something cheaper than the existing stock, otherwise it may save yourself a lot of heartache by buying something existing
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
John,
Do you still have an extensive list of properties in the current market? I would imagine it is longer now.
I was dicussing your list with someone the other day from this site. I thought it was great stuff.
Do you have anything under 100k, positive or negative?
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltdyep – we have been working hard to build stock but it is hard to keep them sub $200k. we focus on the up to $280k market and hope to launch the new website early in the new year. The Perth market is very strong and keeping a decent inventory is difficult… no signs of slowing for some time yet. Unfortunately nothing under $100k, cheapest around the $180k mark. Here’s hoping the building industry slows down a bit next year so we can get some titled blocks and actually finish building on them!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Can you put your website in your signature so I can follow the list?
Thanks
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltdabsolutely. will go live around 10th January. Look forward to your feedback.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
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