Perth property listings - under 9,000

was gobsmacked last night to hear that there is something like 45,000 listings in Melbourne! good market to buy in as a contrarian move?
 
Hi Aus
Am also told that prices for development sites in some areas are starting to rise, I think this could be a good move.
I am going to look at jumping into this market early next year.

MTR
 
dexx said:
I cant see Perth's prices growing more than 10% over the next year or so. But then who'd have thought the likes of Darwin would go as high as it has?
Click to expand...

Thats what I am expecting, not too shabby considering we have already seen 10%+ in many areas over the last 6-12 months.

Darwin has always been a black horse, there have been a few SS formites that have made a killing in this State over the last couple of upswings, Bigtone, comes to mind:)
 
Blacky said:
If the West has picked up panic buying, I guess its official then.

http://au.news.yahoo.com/thewest/a/-/newshome/16810691/panic-buying-trap-for-home-hunters/

:cool:
Click to expand...

I shake my head at soem of the bizzare comments David makes. How can this be a good idea for a seller (if it were to be true?):

Real Estate Institute of WA president David Airey said auctions were better for properties in areas of strong demand and crowded home opens. "If you are getting multiple offers on a property, these properties would be better to be offered for sale at auction where everyone gets a fair playing field, rather than having people scramble and make over the top offers without any justification of what might be the value of the property," Mr Airey said.

and is he saying that autions get worse results than private treaty? Would be more than a few agents upset by that assertion

I have just re-read the quoted comment... still can't decide if I am reading it the right way...
 
you are reading it the same way i am. he wants to make it fairer for the buyers, i think he's forgetting who pays his bills
 
Im reading it the same way. Basically that sellers are doing the wrong thing by playing buyers off each other to increase the selling price above "fair value".
 
Though who is to say which gives a higher price?
Its quite feasible at auction that the interested parties will keep bidding against each other in an effort to get it - more so that people putting offers in.

Who knows!

However I do believe that the price something sells for is the market price. And for that reason I believe auctions are more of a true indicator of market price most days. I hate auctions but I think they are a better way to do it.
 
What do people think about suburbs further out of Perth? Like Rockingham?
The market is too hot within the aforementioned suburbs in this thread already and the competition is crazy!!! Thinking of looking further out.
 
santaslayer said:
What do people think about suburbs further out of Perth? Like Rockingham?
The market is too hot within the aforementioned suburbs in this thread already and the competition is crazy!!! Thinking of looking further out.
Click to expand...

I think the prices have risen in these further out suburbs (eg: Rockingham south, Merriwa north) however they still seem to sit on the market for a few weeks.

Which is a few weeks longer than anything in a more inner suburban area, lol.
 
santaslayer said:
What do people think about suburbs further out of Perth? Like Rockingham?
The market is too hot within the aforementioned suburbs in this thread already and the competition is crazy!!! Thinking of looking further out.
Click to expand...

Apparently there are pockets in Rockingham that have already started to move. So I would be jumping in sooner than later.
Competition is very fierce and if you are not on the ground making it happen and networking with agents it just got alot harder. I believe BA are also struggling.

I settle on a development block next week and I think it is now worth an additional $30,000 that all happened in just over 1 month.

Cheers, MTR
 
Rockingham marina has finally been given the go-ahead. This has been on the drawing board for at least 7 years now.
It will still be a few years away yet, but might give the area a much needed boost.

Blacky
 
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