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I read this today. http://au.news.yahoo.com/thewest/a/-/article/16029974//
Fresh optimism has hit the economy as Perth property prices surge and the sharemarket soars to a 22-month high.
The Real Estate Institute of WA said the $495,000 median house price was just $7500 shy of the all-time high after a 2.3 per cent rise last year, which was on par with WA's inflation rate.
Research groups Australian Property Monitors and RP Data, which use different data to calculate price changes, this week reported Perth house price rose 6.1 and 2.7 per cent respectively in 2012.
Residential land sales hit their highest level since the boom peak in 2006, according to the Urban Development Institute of Australia.
UDIA said the biggest developers in Perth recorded a 23.4 per cent rise in land sales over the December quarter and 77 per cent more sales over the year.
The good news adds to a bull run on the stockmarket with the S&P/ASX200 yesterday closing at a 22-month high of 4921. A 10-day rally on the index last month added $75 billion to the value of Australia's 200 biggest companies.
this was stupidly cheap...
http://www.realestate.com.au/property-house-wa-claremont-112903199
however it sold first day with multiple offers. went to the home open which the agent said was too late to cancel so they opened it anyway, people everywhere
Heading to Perth next weekend ...what is Perth's equivalent of Sydney's Mount Druitt or Brissy's Logan areas. Do the yields in those ugly duckling suburbs make sense ?
Thanks
Hopefully it all pics up in the southern areas as well bought my first invesment property at secret harbour in July. How exciting.
Older homes or townhouses in Girrawheen, Balga, Mirrabooka
South east Maddington, Kenwick
...to the person who asked about more working class areas with good yields
Cheers
Not to sure, We live in kalgoorlie an went down there one weekend an feel in love with the place, By the following Wednesday we had found a house we liked, It was bought in January 2012 for $450,000 and we bought it july 2012 for 390,000. The guy was in financial trouble. Its a pretty new 4x2 couple hundred meters from the beach an we currently have in tenanted for $440 a week. Its not so much a investment as in prob 10 or so years we will move down that way.Whats the supply /demand ratio like there atm?
Hi Beijos
Older homes in Girrawheen, Mirrabooka and Balga have already moved as soon as something comes on the market they pretty much get snapped up.
Balga still has a few older houses with subdividable land still for sale.
I'm not to sure why Mirrabooka is selling so well, even before the talk of the light rail and I don't think they'll make it subdividable for at least 5 years.
Girrawheen, Koondoola are moving quick due to what were low prices and the rezoning.
Not to sure, We live in kalgoorlie an went down there one weekend an feel in love with the place, By the following Wednesday we had found a house we liked, It was bought in January 2012 for $450,000 and we bought it july 2012 for 390,000. The guy was in financial trouble. Its a pretty new 4x2 couple hundred meters from the beach an we currently have in tenanted for $440 a week. Its not so much a investment as in prob 10 or so years we will move down that way.