Perth Property Market updates

Still flirting with the idea of upgrading my PPOR in the current market.

I own a potential development site, and am interested in a more central townhouse. Wage is increasing quite dramatically currently and in the foreseeable future, as I am young but with a lot of experience and such. Not counting my chickens as such, but the outlook is good.

That said, to do it I need to sell my current place which I really feel is a good investment long term. 700m2 prorposed R40, perfectly situated to retain original house which is renovated, 15km from CBD and about $150k in equity. However, I see value in a lot of suburbs closer in around the $700k mark..

In a few years I will start my own high end building company, so would prefer minimal if not 0 debt when this happens so I don't have too many financial commitments to meet at the start when cashflow may be tight...
 
Anyone read the the articles in todays and yesterdays paper re the light rail being dumped for rapid transit bus routes? Sounds like it's going to take another mining boom before the gov has funding to undertake this project.

Light rail should have been a higher priority than Elizabeth Quay imo.
 
Just like the train line to ellenbrook.

I don't think Perth needs a light rail just more buses/trains and cheaper fairs.

I live near the train line but I ride my motorbike and its $10 a week with free parking.
It would cost about $40 a week if I took public transport not including the time wasted standing around.
 
I'm in two minds, on the one hand, how are the buses materially different to the light rail? It strikes me as a compelling argument to go for the buses - plus you have great felxibility. On the other hand light rail is appealing from a commuter point of view. Tho... the buses are presumably clapped out after 5 years but you keep the rail forever, is that right?

then you look at the Mandurah line... all that money for a few stops and you still can't get to the centre of rockingham, nor Mandurah, so I can't really see the point of that one.
 
Ausprop said:
I'm in two minds, on the one hand, how are the buses materially different to the light rail? It strikes me as a compelling argument to go for the buses - plus you have great felxibility. On the other hand light rail is appealing from a commuter point of view. Tho... the buses are presumably clapped out after 5 years but you keep the rail forever, is that right?

then you look at the Mandurah line... all that money for a few stops and you still can't get to the centre of rockingham, nor Mandurah, so I can't really see the point of that one.
Click to expand...

You might not see the point of the mandurah rail line but it's used by over 60k people per day and over 20 million trips a year are made on it. From a patronage vs $$ spent it has been hugely successful.

It is also now easily the most used of the 5 railway lines we have in perth
 
Gingerbeer said:
Anyone read the the articles in todays and yesterdays paper re the light rail being dumped for rapid transit bus routes? Sounds like it's going to take another mining boom before the gov has funding to undertake this project.

Light rail should have been a higher priority than Elizabeth Quay imo.
Click to expand...

Stupid move to not go ahead with max and yet another broken promise.

I don't think it's fair to compare it to EQ though as that one will end up costing the staTe $250m or so vs nearly 10 times that for the light rail
 
they needed put a rail line down the middle of Great Eastern Hwy to the airport when they had the chance while expanding GE Hwy...now we have to spend another 2 billion digging a tunnel from bayswater through to forrestfield...maybe 15 years later
 
it's getting beyond a joke - PT is Perth is simply non-existent unless you DRIVE to a train station or live close enough to a DIRECT bus route to a CBD.
 
Aaron Sice said:
it's getting beyond a joke - PT is Perth is simply non-existent unless you DRIVE to a train station or live close enough to a DIRECT bus route to a CBD.
Click to expand...

exactly... patronage levels are meaningless when there is no alternative.

as for roads, on the the Kwinana all those 2 lanes need expanding right now to 4 lanes, but that's only half of the cluster frigg that that piece of road is. time to go back over - again - what should have been done properly in the first place and was bleeding obvious
 
Aaron Sice said:
it's getting beyond a joke - PT is Perth is simply non-existent unless you DRIVE to a train station or live close enough to a DIRECT bus route to a CBD.
Click to expand...
98/99 goes to my block and I can catch either to take me to Oats St or Maylands stn. Quickest is 98 to Oats St then on the train into the city.

It doesn't work in reverse though :mad: There is no synchronisation between trains and busses, so I have to wait 10 to 15 mins for a bus in the afternoon.

Another option for me is to catch the 38 or 288 to Carlisle Station or 37 to Burswood Station. Train to Burswood then 37 home work well in the afternoon but still takes 40 to 50 minutes compared to ~25 minutes cycling. Not work it really.
 
Rhinsor said:
I ride my motorbike and its $10 a week with free parking.
It would cost about $40 a week if I took public transport not including the time wasted standing around.
Click to expand...

Yep, we should adopt the Asian way and encourage more bikes on the roads.

Less emissions, cheaper to own and run, more parking space, less congestion. Also safety in numbers so the more on the road the better for everyone. 250cc scooter is plenty for most (sports 1000cc etc are for the enthusiasts, not commuters)

Unfortunately everyone drives a Landcruiser with 1 person in it to work.
 
Ausprop said:
I'm in two minds, on the one hand, how are the buses materially different to the light rail? It strikes me as a compelling argument to go for the buses - plus you have great felxibility. On the other hand light rail is appealing from a commuter point of view. Tho... the buses are presumably clapped out after 5 years but you keep the rail forever, is that right?
Click to expand...
Busses are more flexible and should do the job if they use a BRT system like the one in LA. Since trams share the road, they grind to a halt if there is a crash. I have used the tram system extensively in Melbourne. I am not a fan.

Built cost and ongoing maintenance of light rail is much higher than BRT but it has higher capacity.

To work from the northern suburbs would require dedicated lanes but it could work if the system was well designed. Of course there are trade offs (price vs capacity). There is a good summary here:

http://www.infrastructureaustralia.gov.au/publications/files/lightrailvsbus.pdf
 
a complete PT network for this city could revolutionise the place. The truses could play a central role there. never happen of course, the cash has been sucked out of WA and repatriated to the east.
 
Ausprop said:
a complete PT network for this city could revolutionise the place. The truses could play a central role there. never happen of course, the cash has been sucked out of WA and repatriated to the east.
Click to expand...

For once we finally agree, PT does need significant investment, especially with the rate perth is growing at.
 
WesternRat said:
back on topic though, pop growth is slowing (short-term) in perth now, which is affecting rentals, and possibly house prices...:confused:
Click to expand...

It's just cyclical, personally I don't think it's a bad thing from a big picture pov. We had good growth but nothing too crazy, apart from dev sites or sites due to be rezoned So I don't see any big drops coming overall.
 
sanj said:
It's just cyclical, personally I don't think it's a bad thing from a big picture pov. We had good growth but nothing too crazy, apart from dev sites or sites due to be rezoned So I don't see any big drops coming overall.
Click to expand...

twice in one day... I agree

I also think it flushes out some of the inefficient excess that had built up in the system - across various markets, not least of which the labour market.
 
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