Hi All, I guess this question goes to all the perth property gurus out there, if you had 400k where would you invest right now and why?
Thank you
Hi Phorsha
Have you thought about looking at Geraldton? It's literally about to BOOM! The calm before the storm…… mrs p
Phorsha wrote:Hi All, I guess this question goes to all the perth property gurus out there, if you had 400k where would you invest right now and why?Thank you
Why limit yourself to WA, perhaps consider investing anywhere in the country where you would expect a solid return.. I have been telling people about the Gladstone Real Estate market for 12 months now.. incredibly, people only starting to take notice about 2 months ago. There's plenty of reports out there if you do a Google search, make sure you are reading current material though, check the dates – due to the LNG and other related contracts.
Maylands, near to the CBD, has potential like Vic Park
Thanks for your feedback everyone, any thoughts from others?
Hello Phorsha,
Like Mrs P I have looked into Geraldton a bit and keeping a close eye on it too, With the next mining boom looming I think it is going to be one of the towns to boom from it. Particularly like other mine towns like Headland and Karratha, Mining Execs need houses local and to save money ideally want a local workforce. Geraldton could possibly follow the same path as the other mining boom towns. But there is obviously a risk as with all mining towns when times a good all is well but when it goes bust it can leave people sitting high and dry.
Also I have been looking at Mandurah/Rockingham of late,Mandurah is still recovering from it’s boom time a couple of years ago with many houses staying on the market for a fairly long time so potential to pick up a bargain if sellers want their property gone. And again with the mining boom looming it is a popular choice for many FIFO workers for the lifestyle it offers (Being one of them myself I know many people who have moved there for that reason) Also with that in mind don’t forget about the Baby Boomers who may want a change in lifestyle when they eventually retire and Both Mandurah and Rockingham shires have designed the towns around “Lifestyle”
Their my thoughts any way, I’m yet to jump into these areas but I’ve been looking at them a bit in recent times.
Geraldton could boom like Karratha- but probably not. From the way that the prediction for Geraldton was written, it seems a hell of a lot like speculating rather than investing.
Mandurah is probably a long term prospect. It got really overheated and has come back a long way from the lofty highs and there are bargains to be had, however growth will probably be slow for the next few years.
I dont like Rockingham for investment- It hasnt boomed like Mandurah and other parts of Perth but there are probably good reasons. If it hasnt boomed yet, then are there any reasons why it will ever boom?? There is the 'mining boom' theory but realsitically the propertion of mining workers earning large wages is not a huge percentage of the population so I do not think that this factor is enough to drive up property prices by itself.
Mandurah and Rockingham are a long way from the CBD of Perth. I know there is the fast train line to the city, but there are also so many other suburbs that are newer, quieter and closer to the city so I can not see any reason whey they will boom in the near futuer.
But then again, I do not have a crystal ball so there is no way I can accurately predict property trends. And I am not a property sceptic- I am just focusing more on established areas close to shops and transport and with a 'scarcity' factor.
Cheers,
Luke
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