All Topics / Help Needed! / Prices in WA

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  • Profile photo of Deb_Deb_
    Member
    @deb_
    Join Date: 2006
    Post Count: 5
    June 23, 2006 - 7:43 am

    As stated in the current newsletter, Western Autralian prices are currently defying gravity.

    I am a new buyer .. looking to buy a unit/villa etc .. to pay off quickly so I can build a property portfolio. But the current prices of property in WA is astronomical. Will there be a crash in the next 12 months? Surely it can’t go on like this.

    I am wondering if I should wait 6-12months, continue to save and maybe have a larger deposit for when (if?) prices bottom out .. anyone have any informed opinions?

    Thanks

    Profile photo of redwingredwing
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    @redwing
    Join Date: 2003
    Post Count: 2,733
    June 23, 2006 - 10:36 am

    Ausprop may be able to give an ‘informed’ decision….I can only guess.

    “Money is a currency, like electricity and it requires momentum to make it Effective”

    Online Positive Cashflow and Renovating Calculators

    Profile photo of AUSPROPAUSPROP
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    @ausprop
    Join Date: 2003
    Post Count: 953
    June 24, 2006 - 7:58 am

    I can only guess, just as the economists etc do. As this is a demand driven boom, it makes sense that only supply can satisfy it. I am yet to see where any signifcicant increase in supply will come from. I believe momentum will continue to carry the market higher, at what rate I don’t know. if rents don’t push significantly higher in the near future we may see investors dump their stock as they must be hugely negatively geared against valuation. I would say a crash is farily remote given that prices haven’t really gone too silly yet. If a family member asked if they should be in or out of the property market, I would say in.


    http://www.megapropertygroup.com

    INVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT

    Profile photo of Deb_Deb_
    Member
    @deb_
    Join Date: 2006
    Post Count: 5
    June 27, 2006 - 3:13 am

    Thanks guys

    Profile photo of Nigel KibelNigel Kibel
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    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425
    June 27, 2006 - 8:44 am

    This is why I am no longer buying i Australia.
    In Texas you can get 8-12% returns in a strong growth market. Be sheep and follow everyone else in Perth

    Nigel Kibel

    http://www.propertyknowhow.com.au
    check out my new web site

    Australian and New Zealand The United States Property Researcher and education
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    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953
    June 27, 2006 - 10:14 am

    curious to know why the return is so high though? I learnt in economics 101 that the higher the return the higher the risk

Viewing 6 posts - 1 through 6 (of 6 total)

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