Anyone else looking in Perth at the moment?
- Thread starter gooram
- Start date
Apparently a fair bit of building also happening in Derby at the moment
Derby is a funny one, I have just spent months tryinig to source local trades for a PABX install for a client there.
It is a town almost devoid of local trades. I spoke with the local business chamber and the guy said the only electrician in town has a 2 week out of 4 away schedule, no cablers, 1 plumber.
Most trades that are not mining related come from Broome so its $1000 in travel to turn up. The mining trades are busy earning their $200k pa they are not interested in any other work.
Be aware of that when you go to do a reno or need something repaired, trades will be scarce and cost a fortune.
Apparently a fair bit of building also happening in Derby at the moment
Yes a new Prison has been built in Derby and soon to be commissioned. It will be housing prisoners in the Kimberly.
I was up in Broome recently, the Prison there has changed a bit with regards to the fencing etc..looks a lot tougher to get out; in the old days you could have made money by installing a turnstile
Noted a number of SERCO personnel leaving Broome airport and some of the Woodside Security team also
According to a couple of presenters today at the homebuyers expo Perth is due for some strong growth in the next 2 - 3 years.
Margaret Lomas thinks Perth will start to take off in 2014. An interesting bit of info is that she believes Perth's lower end housing market will start to increase in value at the end of 2012! Hope so!
I'll be looking to invest in Perth at the end of 2013!
Interestingly, I have heard Margaret Lomas do nothing but rubbish Perth for the last 6+ months (on Sky's Your Money Your Call), and was curious as to what she would say when put in front of a Perth audience! Did she clarify what she meant by the 'lower end' of the market?
FYI I am looking in Perth atm. Fundamentals seem good to me (ongoing mining investment, increasing median income, undersupply of new dwellings, increasing rents and low vacancy rates) but I wouldn't be surprised if it is still pretty flat for a good 6-12 months.
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here you go bricklin, a few things to look at:
http://www.realestate.com.au/property-apartment-wa-claremont-111085095
http://www.realestate.com.au/property-apartment-wa-subiaco-107472611
http://www.realestate.com.au/property-townhouse-wa-victoria+park-110979119
http://www.realestate.com.au/property-house-wa-dunsborough-110149593?listingType=buy
http://www.realestate.com.au/property-apartment-wa-claremont-111085095
http://www.realestate.com.au/property-apartment-wa-subiaco-107472611
http://www.realestate.com.au/property-townhouse-wa-victoria+park-110979119
http://www.realestate.com.au/property-house-wa-dunsborough-110149593?listingType=buy
Yeah plenty of data can be flawed, but the data I was referring to had 896 sales on it, and a history.
But I'm sure with all the jobs growth, population growth, booming economy, government spending etc there is plenty of scope for growth.
Well I have to "eat my own words", have just settled on a property in Perth, decided to look in my own backyard, glad I did. I am not necessarly focusing on growth though, am purchasing properties where I can retain the front and build at the rear providing me with cashflow. Looking now at securing more before prices start to rise.
Cheers, MTR
I think it's cheap for a reason. Mandurah is still a mainly low socio/economic area. I may be wrong but I spend a lot of time travelling on public transport in the area because of my job and it looks depressed. If there were significant industrial growth and infrastructure planned it may be worthwhile. I think it has a higher than average unemployment rate (39% for youth) and appeals mainly to retirees. Its one of those places you love to visit but you don't want to live there.
I had a quick look and they looked pretty cheap to me too. They can only go one way!
yep - down.
Why do you think that? Is the population growth going backwards?
