Hi,
I've been a member here for a while and will be returning to Perth to live in 2 years ( currently in Indiana USA, i own a home here that is definately not keeping pace with perth in growth).
I was wondering how some of you investors who have been in the perth market for years now feel about the next year or so?
Do you think i'd be wise to buy as soon as i can or perhaps wait until i'm ready to return? I'd hate to work and save for the next two years only to find that home prices in perth have risen more than i've saved!!
I was looking at homes in the 300-500,000 range, and i'm hoping for more general overall increase/decrease throughout perth as opposed to specific suburb by suburb predictions.
Being over here its more difficult to keep an ear to the ground in terms of whats happening, whats in the news etc… ( i heard about a lot of mining contracts?)
thankyou in advance for the suggestions/advice
Mobbott,
Just a couple of things
1) Woodside 20 Billion dollar expansion green light
2) Massive Olympic Dam upgrade.
House price growth has slowed recently but still increasing. Land is very scarce ATM but there are some new developments being proposed by the govt to try and address this.
I would suggest that if you can afford to do it, get in now and buy a place that has sudivision potential and a rental return. Conditions are more in the buyers favour at the moment (I believe). At least you will have some capital gain when you get here.
Hope this helps,
Regards,
MarkPerth has a two tiered market
the top end of town above 800k is doing well
the 300 to 500k is nutral either slight growth 2% or slight decline 2% depending on suburbThere is a possibility of another interest rate rise in the coming months which will probably depress the market slightly if it happens
the long term prospects for perth are very sound with incredible mining development , very low unemployment and a very tight rental market. so a purchase in perth would be a sound long term investment.
etty
ps I am selling one of my 5 perth properties (cant afford the shortfall at the moment) 460k rented at 390pw 4/2 2 year old house if your interested
What kind of % increase would you say over the next two years for perth as a whole then??
I mean, 20% average on a 300,000 would be $60,000!!! proabably what we'll be saving in the next 2 yrs…
thanks
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