perth giving me the irrits !

E

eyespy

have started looking at perth properties in the last month and properties are selling so quickly with little replacement new stock.
i remember sydney being like so in 2002 and i got so frustrated with it that i just gave up.
any pieces of advice how to deal with such a market. just be patient and more stock will come . or move on to another state where the market hasn't moved yet.
 
try mandurah, its tipped as one of McKnights top 10, prices are WAY down on peak, % yields are high and it will benefit from the perth rebound
 
eyespy said:
have started looking at perth properties in the last month and properties are selling so quickly with little replacement new stock.
i remember sydney being like so in 2002 and i got so frustrated with it that i just gave up.
any pieces of advice how to deal with such a market. just be patient and more stock will come . or move on to another state where the market hasn't moved yet.
Click to expand...

There are some hotspots, but I certainly would not call it a booming market yet. What is your price range
 
eyespy said:
have started looking at perth properties in the last month and properties are selling so quickly with little replacement new stock.
i remember sydney being like so in 2002 and i got so frustrated with it that i just gave up.
any pieces of advice how to deal with such a market. just be patient and more stock will come . or move on to another state where the market hasn't moved yet.
Click to expand...
I'm a bit p'd off that I saw my bank 3.5 months ago and they told me I could borrow again once I got a group certificate. The market has really changed since then, but still opportunities around and I feel your frustration. I think another issue at the moment is dealing with inexperienced RE Agents that have never sold a house before. The rental market is so tight, I have two sets of tenants wanting to rent from me, but haven't been able to secure a property yet.
 
looking at 300000-370000 for a house. i know what area i want, so its a matter of just waiting.

am peeved also bc i got finance rejected january this year when the market was slow and now finance approved, market has moved.
 
eyespy said:
have started looking at perth properties in the last month and properties are selling so quickly with little replacement new stock.
i remember sydney being like so in 2002 and i got so frustrated with it that i just gave up.
any pieces of advice how to deal with such a market. just be patient and more stock will come . or move on to another state where the market hasn't moved yet.
Click to expand...

dont tell michael yardney. he still thinks this is a one horse town.
 
eyespy said:
have started looking at perth properties in the last month and properties are selling so quickly with little replacement new stock.
i remember sydney being like so in 2002 and i got so frustrated with it that i just gave up.
any pieces of advice how to deal with such a market. just be patient and more stock will come . or move on to another state where the market hasn't moved yet.
Click to expand...

If you think it is tough now, well you should have been around when Perth was booming between 2001-2006, now that was a feeding frenzy. Real estate agents not returning calls, paying well over the asking price, multiple offers on one property etc etc etc.

Anyway, my point is hang in there, patience is a virtue, that's what they say anyway.

Cheers, MTR
 
Very true mtr, at the moment vendors are coming out with some rediculous prices and they are not selling, it's only the reasonably prices properties moving.
 
MTR said:
If you think it is tough now, well you should have been around when Perth was booming between 2001-2006, now that was a feeding frenzy. Real estate agents not returning calls, paying well over the asking price, multiple offers on one property etc etc etc.

Anyway, my point is hang in there, patience is a virtue, that's what they say anyway.

Cheers, MTR
Click to expand...
That's pretty much the current rental situation. Had a mate offer 1200/week for a 900pw advertised property. They were not the best tennants, but still...30% increase over advertised rates. Most of my friends had to offer 10-15% over the advertised rates and are really clean/tidy etc. Most are 457ers.
 
If you can extend you finances a bit further. Look between the Perth city and the airport. Vic Park, Burswood, Carlisle, Rivervale, Belmont. Good balance of proximity to city, public transport and airport. Our previous tenants moved out in Jan due to rent increase from $460 to $480 pw. 2 weeks later and we get $550. REA calls me the other day and said the tenant asked if we are interested in selling! It is certainly showing good signs of improving
 
Having a cursory look, I couldn't find it again but I recently saw a map with the increase in the noise envelope for Perth Airport which should be a consideration when purchasing in those areas and as Perth airport and flights continue to grow
 
Paul j F said:
If you can extend you finances a bit further. Look between the Perth city and the airport. Vic Park, Burswood, Carlisle, Rivervale, Belmont. Good balance of proximity to city, public transport and airport. Our previous tenants moved out in Jan due to rent increase from $460 to $480 pw. 2 weeks later and we get $550. REA calls me the other day and said the tenant asked if we are interested in selling! It is certainly showing good signs of improving
Click to expand...

*coughcoughbassendeancoughcough*
 
redwing said:
Having a cursory look, I couldn't find it again but I recently saw a map with the increase in the noise envelope for Perth Airport which should be a consideration when purchasing in those areas and as Perth airport and flights continue to grow
Click to expand...

each councils intramaps will tell you if youre in the ANEF regions,and which one.

20 isnt so bad, its the 15/10/5 that is a headache.......pardon the pun.
 
eyespy said:
looking at 300000-370000 for a house. i know what area i want, so its a matter of just waiting.

am peeved also bc i got finance rejected january this year when the market was slow and now finance approved, market has moved.
Click to expand...
On the bright side, I don't know if you would have fixed your rates, but just looking through my paperwork I was going to fix most of my loans at 6.19%, now they've dropped to 5.85%, so a bit of a saving there. :)
 
yes interest rate drop is great...which is probably the reason plus extreme tight rental market/good yields why investors/fhb are out there looking now.
 
You must log in or register to reply here.

Similar threads

A
Where to buy 2nd Investment Property?
2
Replies
30
Views
6K
Rixter
Rixter
B
Thoughts on the Sunshine Coast?
Replies
2
Views
2K
jerryparker
J
S
Renovation while tenant is still in property
Replies
4
Views
1K
Rhinsor
R
P
FHB Carlington vs Dulwich Hill OTP
2
Replies
33
Views
6K
JohnHenry
JohnHenry
ej89
Buyers agents
2 3
Replies
42
Views
7K
donny17984
D
Back
Top