People who think Perth wont grow obviously dont live here. The skyline is growing by the day. Its a city of 1.5 million people and although it may be very reliant on resources it is starting to diversify a lot more. The population will be double the size it is now by about 2050. Perth will be a city of 2.5 million people by 2025 or so according to estimates.
http://origin-www.thewest.com.au/default.aspx?MenuID=77&ContentID=96203
There is also a lot of money coming into this state and FDI in WA is still ticking along. So while unemployment is rising (just like it is everywhere) it should be no worse here than everywhere else.
I think home prices are dropping in value mostly because the boom pushed them higher than they should have been. People were cashed up here. Which means a bigger correction now that work is drying up a bit. If I am not mistaken, about 40% of the homes being sold are first home buyers too which means the end of the grant could see further drops after that. Still, I dont think they will be that large.
If you are interested in Perth, perhaps I could suggest you look at Quinns Rocks too?
Its 35km's from the CBD, but its right on the coastline. Its next to Mindarie, which is a sought after area. It has a great beach. The have extended Marmion avenue all the way through to Yanchep which has been earmarked as one of Perths future "hubs". They are going to extend the railway line to Butler, giving Quinns access to both Clarkson and Butler railway station. Its close to Joondalup which is also growing. They are building the industrial park in Neerabup which is going to bring additional work to the area. Jindalee, which is right next door, is also seeing a lot of private investment. They are building shops and what looks like a small marina there. Eventually the Mitchell Freeway will extend past it too
There is quite a bit on offer under 400k. Not to sure what yields are like though. Still, beachside property at well under average city median when you are only 35km from the city and there is so much development around the area cant be a bad thing
http://www.realestate.com.au/cgi-bi...-Detached,House,Terrace,Villa,Warehouse&o=def
http://origin-www.thewest.com.au/default.aspx?MenuID=77&ContentID=96203
There is also a lot of money coming into this state and FDI in WA is still ticking along. So while unemployment is rising (just like it is everywhere) it should be no worse here than everywhere else.
I think home prices are dropping in value mostly because the boom pushed them higher than they should have been. People were cashed up here. Which means a bigger correction now that work is drying up a bit. If I am not mistaken, about 40% of the homes being sold are first home buyers too which means the end of the grant could see further drops after that. Still, I dont think they will be that large.
If you are interested in Perth, perhaps I could suggest you look at Quinns Rocks too?
Its 35km's from the CBD, but its right on the coastline. Its next to Mindarie, which is a sought after area. It has a great beach. The have extended Marmion avenue all the way through to Yanchep which has been earmarked as one of Perths future "hubs". They are going to extend the railway line to Butler, giving Quinns access to both Clarkson and Butler railway station. Its close to Joondalup which is also growing. They are building the industrial park in Neerabup which is going to bring additional work to the area. Jindalee, which is right next door, is also seeing a lot of private investment. They are building shops and what looks like a small marina there. Eventually the Mitchell Freeway will extend past it too
There is quite a bit on offer under 400k. Not to sure what yields are like though. Still, beachside property at well under average city median when you are only 35km from the city and there is so much development around the area cant be a bad thing
http://www.realestate.com.au/cgi-bi...-Detached,House,Terrace,Villa,Warehouse&o=def