Melbourne vs Perth
- Thread starter popo7
- Start date
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.
I'm all for competition because we as consumers all benefit and that's a good thing. People vote with their feet.
No city can flourish if it's run as a closed shop, pardon the pun
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
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
I think we all know better than to equate population to house prices
as for culture... we're talking Australia here. One hipster in a cafe doesn't form a cultural mecca!
LOL, love it
Despair, you bet, falls of 30%+ and rents in free fall, good word to describe this is despair or disaster for those who purchased $1M properties that are probably now worth only $600K??
Jump in for a bargain there are plenty if that is what you call them.
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.
out of interest, how far out of the GPO is a Perth median home compared to Melbourne does anyone know?
value is definitely subjective. Nothing against Melbourne it's perfectly fine but I can't think of a single reason to want to go there. I do love Sydney tho, zipping around the harbour in the ferries, Doyles fish and chips and Manly is cool... ah those balmy days on the Manly ferry...
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
the question is would you touch any aussie real estate? Perth has had a severe dose of medicine and there could be more to come. Contagion and reality is yet to hit the other cities. If you were to step back and say right, national living standards are falling dramatically, what is the likelihood for sustained property price increases? particularly in markets that are at 12 oclock?
You remind me of an ostrich with its head in the sand.
