Could another boom in WA?

Well earlier this year I was planning on waiting to buy an ip in Perth in 2011 because I didnt think it would be worthwhile to do so any sooner. But sentiment has changed over the past couple of months with news of Gorgon. It felt like it was the right time for me to buy again.

So I bought my ppor back in October 2008 and I settle on my first IP in December 2009. I am placed well now and over the next 5 years I think I should see some good growth in my properties.

I think (and this is coming from a newbie here) its a good time to buy in Perth! WA as a state will do well in the years to come. I can see a lot of opportunity.

What do the eastern states SS's feel about Perth? Will you be investing in WA soon. Thats what i'm really curious about? and if not why not? :p
 
My own feeling is that people from the eastern states dont really "get" Perth/WA... thats not a criticism.

I work in the resources sector and see that WA has massive mineral and resources wealth which will be globally important in the coming decades... so i'm confident :)

Kim5 - where did you buy?
 
My own feeling is that people from the eastern states dont really "get" Perth/WA... thats not a criticism.

I work in the resources sector and see that WA has massive mineral and resources wealth which will be globally important in the coming decades... so i'm confident :)

Kim5 - where did you buy?

in Dianella
 
I agree. With so many projects (and there are quite a few!) its hard to not see prices going up over the next couple of years... Gorgon for heaven's sake - they say it'll affect the whole nation in some way....
 
Well earlier this year I was planning on waiting to buy an ip in Perth in 2011 because I didnt think it would be worthwhile to do so any sooner. But sentiment has changed over the past couple of months with news of Gorgon. It felt like it was the right time for me to buy again.

So I bought my ppor back in October 2008 and I settle on my first IP in December 2009. I am placed well now and over the next 5 years I think I should see some good growth in my properties.

I think (and this is coming from a newbie here) its a good time to buy in Perth! WA as a state will do well in the years to come. I can see a lot of opportunity.

What do the eastern states SS's feel about Perth? Will you be investing in WA soon. Thats what i'm really curious about? and if not why not? :p

In whatever reason, I can not see a boom. Just ask yourself, could your unit be worth $420k in 5-7 years time? You must kid yourself if you think so. If 5% growth, probably it will not be worthwile to play the game.
 
It's not just Gorgon. Woodside and others too are spending billions in WA but it's not getting much of a mention as Chevron has been the big news.
 
I'm in the stronger for longer crowd. I just called Aus the Saudi of the Pacific in another thread.

Bring on the WA Boom. Us humble Sydney-siders want to ride your bow wave to the good times.

Cheers,
Michael
 
Port Hedland about to be re-zoned to "no maximum density" for the West End.

Boom wil be kept in check by labour shortages - unless a skilled migrant deal can be struck - whereby Aus recognise foreign qualifications.

My property (high-ish end) back to late 2007 values as of last week.

DA applications - state wide - up 6 fold.

building prices rising (still...)

confidence back.

no one in WA really "lost" their job - they either got cut back to 4 days a week or got re-hired into shutdown / maintenance crews. most folk back to 5 days a week + OT.

what WA REALLY needs is federal govt funding for a lot of projects like a wider highway in PH and Karratha, blocks of 1x1 discounted temp accomodation for skilled labour to build towns etc after flying in from *insert somewhere else here*.

TheAnalyst - mate - seriously? I never thought the unit i bought in late 01 for $60k would today, in 2009, be worth $299k. ever - period. i never thought the property i bught in Beldon in 05 for $192k would be worth $355k 18m later. i never thought the property i bought in Karrinyup in late 03 for $269k would be sold in late 07 for $625k - cash. value dropped on this after it was bought to $570k - but is now back to early $600ks again.

i bought beachside this time - lets see what this next run nets me. looking seriously at Karratha, 4x2s in Rockingham (near station) and smaller homes in Northern metro corridor.

gimme gimme gimme. WA will be a powerhouse to outdo any international figures over the next 5- 10 years.
 
no one in WA really "lost" their job - they either got cut back to 4 days a week or got re-hired into shutdown / maintenance crews. most folk back to 5 days a week + OT.

Bullsh*t

Many many people from all ends of the resources industry were laid off, including me :cool:

Many in the city are on 4 day weeks, I know some on 2 day weeks, I know some who have had to uproot their families and leave the country because they were on 457 visas and couldnt find work.
 
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a guy I do some work for lost all his contracts when it hit the fan. they are now all back on and more - he is swamped. he is at the very front of the industry, supplying to exploration camps. It's all back on again that's for sure
 
Bullsh*t

Many many people from all ends of the resources industry were laid off, including me :cool:

Many in the city are on 4 day weeks, I know some on 2 day weeks, I know some who have had to uproot their families and leave the country because they were on 457 visas and couldnt find work.

we must operate in different circles then. sorry for the generalisation - i can only call it how i see it.
 
Just my opinion - but if I was looking to buy another IP at the moment, I'd definitely be looking to Perth. I'm a believer in the resource story over the coming decade or two with China/India middle class emerging. I do like the look of Karratha etc as well, but for me would stick to the security of the capital city.
 
Port Hedland about to be re-zoned to "no maximum density" for the West End.

Boom wil be kept in check by labour shortages - unless a skilled migrant deal can be struck - whereby Aus recognise foreign qualifications.

My property (high-ish end) back to late 2007 values as of last week.

DA applications - state wide - up 6 fold.

building prices rising (still...)

confidence back.

no one in WA really "lost" their job - they either got cut back to 4 days a week or got re-hired into shutdown / maintenance crews. most folk back to 5 days a week + OT.

what WA REALLY needs is federal govt funding for a lot of projects like a wider highway in PH and Karratha, blocks of 1x1 discounted temp accomodation for skilled labour to build towns etc after flying in from *insert somewhere else here*.

TheAnalyst - mate - seriously? I never thought the unit i bought in late 01 for $60k would today, in 2009, be worth $299k. ever - period. i never thought the property i bught in Beldon in 05 for $192k would be worth $355k 18m later. i never thought the property i bought in Karrinyup in late 03 for $269k would be sold in late 07 for $625k - cash. value dropped on this after it was bought to $570k - but is now back to early $600ks again.

i bought beachside this time - lets see what this next run nets me. looking seriously at Karratha, 4x2s in Rockingham (near station) and smaller homes in Northern metro corridor.

gimme gimme gimme. WA will be a powerhouse to outdo any international figures over the next 5- 10 years.

I live not far from where you live. I did have properties in Beldon, Heathridge etc. I did enjoy the ride last few years. I was saying property price has grown 3times since 99-2000. From 1990-1999 was a flat market. One of my colleage bought a unit in Armadale for $78k after 10 years, he sold for $80k. The one bed unit Kim was referrering to is $210k now --- could it get to $420 in 5-7 years time. I do not believe.

You got to quote with context, mate, not partially.
 
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