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As long as there are supermarkets that are 24/7 it suits me.
I wasnt aware Perth had 24/7 Coles, Woolies....do they have Aldi yet?
The problem is, you open an Aldi and all the east coasters start moving in.
Sometimes in order to keep the trash out you need to make some minute sacrifices.
You must be joking, seriously this is incredibly high risk at the moment, this market is still falling including rents, with an oversupply of stock its not going anywhere.
Mining is a dead duck at the moment and companies are sacking not employing people. Recovery could be 10-20 years away, mining cycles are not like property cycles, 7-10 years.
MTR
Melbourne, easy. Perth won't even reach Melbourne's current population in 15 years, nor have its culture etc. Yet its prices are almost on par.
LOL, love itas for culture... we're talking Australia here. One hipster in a cafe doesn't form a cultural mecca!
ooh I love it, absolute despair, now I know it is time to enter!
you can't make this vision happen with house prices below replacement cost:
http://www.perthnow.com.au/news/spe...es-of-the-future/story-fnmx16d1-1227114640097
not to mention organic growth. Don't get distracted with mining cycles... cycle analysis is fine when all things are equal however they are not when you look at human expansion, china, india etc it is a linear growth till we hit implosion. If you were talking about Newman then my position would be quite different
Melbourne, easy. Perth won't even reach Melbourne's current population in 15 years, nor have its culture etc. Yet its prices are almost on par.
I agree with this.
Value is subjective to each individual; for me the value simply isn't there ie what you get for the price that you pay. Perth would have to be about 20% less than current median prices to be attractive against Melbourne.
Are you sure about that? Perth is the fastest growing city in Australia. We just hit 2 million people recently. This is less than half the population of Melbourne. However, we are growing at a faster rate. I know property price doesn't correlate with just population. But Perth is a very nice city and has beautiful beaches close by which Melbourne does't have. Perth also has better weather and the flights to Asia is much cheaper with the time zone been similar. This would attract an influx of asians to the city particularly from emerging countries.
I agree with this.
Value is subjective to each individual; for me the value simply isn't there ie what you get for the price that you pay. Perth would have to be about 20% less than current median prices to be attractive against Melbourne.
Are you sure about that? Perth is the fastest growing city in Australia. We just hit 2 million people recently. This is less than half the population of Melbourne. However, we are growing at a faster rate. I know property price doesn't correlate with just population. But Perth is a very nice city and has beautiful beaches close by which Melbourne does't have. Perth also has better weather and the flights to Asia is much cheaper with the time zone been similar. This would attract an influx of asians to the city particularly from emerging countries.
Not only this I forgot to mention the income in Perth is higher than Melbourne. So you could say it's reasonable for house prices to be on par with Melbourne. HOWEVER, because I am looking for houses in both Melbourne and Perth. It is in my opinion that Perth is relatively cheaper than Melbourne. People will say depends on which area. Yes I'm talking about good areas! You compare the top 10 areas in Perth and compare it with Melbourne. Which is cheaper?
On the other hand, I have to agree that Melbourne is lot more cultural in terms of places to eat and hangout. But as we get older our preferences in lifestyle change. Which city is better is purely subjective. Younger people will tend to choose melbourne over perth. Older people may choose perth over melbourne. It all depends on peoples preferences.
Jo
You are completely missing the point.. you are ignoring the markets today, yet you want to buy today/in this market. What will happen in 5 years who knows its all guess work and opinions, we all have these like belly buttons.
If you are buying in a declining market What do you think will happen in 12 months?? It's not rocket science
I think I have said enough, some people may get it