I assume like many of you I get the API magazine on a monthly basis. This month they had a segment on boom towns around Australia. Well I have been doing some research on these town and believe that some of the figures are not a true representation of what is actually going on. For example: W.A Armadale has been ghilighted as a growing area with median house prices under $200K. An extensive search of real estate in that town has not come up with much under $300K and rental yield is considerably lower than 5%. Other towns mentioned were Karratha, Newman etc…
Any thoughts from forumites?[inlove]
Snowflake
Hi all
Armadale boomed months ago, some properties tripled in price.
Just goes to show you, you need to do your own research as most info printed is old news.
Celeste
REIWA shows the Median at $220k (At JUNE 2006 which is outdated as the market has been booming of late and seeming to slow to a steady pace now )and CG over the previous 12 Months at 41.94% and over Five Years at 20.95%
Great if you bought there 3-5 years ago :o)
“Money is a currency, like electricity and it requires momentum to make it Effective”
Online Positive Cashflow and Renovating Calculators
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