Looking for some opinions from either Perth Locals or investors in the Perth market. Wondering what part of the cycle the local evidence suggest you are in. 12 month data suggest a slight price contraction. What is next for Perth – any suburbs to watch?
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This topic was modified 8 years, 9 months ago by Don Nicolussi.
Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
Hi Don,
I am a Buyers Agent in Perth. We are definitely in a buyers market in the outer and middle ring suburbs. Suburbs close to the CBD are still rising and have strong demand, eg Bayswater and Maylands, as are some luxury beach suburbs, eg Cottesloe. The change to investor lending is further cooling the market. This is just starting to bite. The situation is going to continue for at least the next six months. Population growth and an improvement in mining are going to be the keys to the turn around.
The advantage is that if you are patient, take your time, make enough offers there are some very good properties to be had at good prices. This is not a buy and hold market. If you want to make money, you will need to be an active investor. i.e. purchase a property with a higher and better use and implement that change.
Some Suburbs are about to be gazetted for higher density in the very short term. The right house, with the right street frontage and the right drive way width makes a good investment.
If you have any Questions, please PM me
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This topic was modified 8 years, 9 months ago by
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