Perth Property Market updates

Is Forrestfield becoming a place to buy potentially for FHOB like myself?

This Gateway for 2016 then the rail link going from bayswater-airport-forrestfield ect?

Would be able to rent out potentially to FIFO workers as its easy access to the airport.

Or do these things already show in the market prices? Just having a quick look. Maybe they do.
 
I personally am not a fan of forest field due to its terrible transport links and I think k perth increasingly is going to be a place where this is an issue. Train station will of course help, issue is how far away is it? What's your budget?
 
inv
is this recent? basically on number of sales, so you can have volume, but sale price could be falling??
According to this Balga hot??
 
Tano said:
Why is eagle bay beachfront over $4600/sqm?
http://www.realestate.com.au/property-house-wa-eagle+bay-118386799

Its hard to find a property under 800k in this list. Am i missing something?
http://www.realestate.com.au/buy/in-eagle+bay/list-1
Click to expand...

I have not really watched this market, however I do know it did get hammered big time, just like Mandurah, perhaps 30%+ drop, so Ausp sees these prices today as good value I guess.

I suppose this was the playground of the rich some 7 years ago, and was the first thing they had to sell when the market crashed, I don't think it has fully recovered. Still these prices do not really fit the average Joe/Jill looking to buy a weekender.
 
MTR said:
inv
is this recent? basically on number of sales, so you can have volume, but sale price could be falling??
According to this Balga hot??
Click to expand...

MTR, take a look at the whole site. I have flu brain but it looks like the median price is rising and sales numbers are falling. It's all free info on Landgate site- there is other graphs available also.

This page has links to the graphs. It appears final numbers aren't confirmed but it does look like a steep drop if the number are similar. https://www.landgate.wa.gov.au/corporate.nsf/web/Median+House+Price
 
Last edited:
Tano said:
Share your updates here ... vacancy rates, zoning changes, gov policy changes, house sales data, new infrastructure, news (optimistic or pessimestic) etc etc


Herron Todd White: http://htw.com.au/Month_in_Review/Month-In-Review-November-2014.pdf


Office vacancy in the Perth CBD increased 2.8% to 11.8% as at July 2014. Office market conditions are predicted to worsen over the next 12 months in Perth

There is a softening trend however there are no signs that the market is moving in either direction. Property priced within the first home buyer market sector is still highly active. The sub $1 million market is stable,The market between $1 million and $1.5 million is stable, The market above $1.5 million has slowed significantly.

Rezoning to encourage higher density within areas such as Spearwood, Hamilton Hill and Coolbellup have heated the market significantly within the last twelve months

The inner city apartment market is soft and trending downwards. Valuers in this region have suggested prices may have declined and that it?s common to see apartments resold below the off the plan purchase price.
Click to expand...

In my opinion, there are better value plays than perth. I always thought perth to be overpriced for what it offers. Its no Sydney nor Melbourne nor even Brisbane, yet prices in perth are high comparatively.
 
eeew said:
In my opinion, there are better value plays than perth. I always thought perth to be overpriced for what it offers. Its no Sydney nor Melbourne nor even Brisbane, yet prices in perth are high comparatively.
Click to expand...

Prices are high comparatively to Sydney and melb? You sure about that?

Wages in wa have also been the highest in the country for a while although I think sydney just overtook perth in that regard
 
sanj said:
Prices are high comparatively to Sydney and melb? You sure about that?

Wages in wa have also been the highest in the country for a while although I think sydney just overtook perth in that regard
Click to expand...

For what Perth offers in comparison to Syd and Mel (jobs depth and breadth) yes, I find it tough to justify perth prices in comparison to Syd/Mel and increasingly Brisbane. Sure prices are high in those cities, but they offer (jobs) so much more than perth such that I believe they are better value than perth.
 
eeew said:
For what Perth offers in comparison to Syd and Mel (jobs depth and breadth) yes, I find it tough to justify perth prices in comparison to Syd/Mel and increasingly Brisbane. Sure prices are high in those cities, but they offer (jobs) so much more than perth such that I believe they are better value than perth.
Click to expand...

Ummm yeah nah bro.

Sydney prices are nearly 50% more than perth with very similar income levels yet you're claiming it offers better value than perth.

Suuuuuuurrreeee
 
sanj said:
Ummm yeah nah bro.

Sydney prices are nearly 50% more than perth with very similar income levels yet you're claiming it offers better value than perth.

Suuuuuuurrreeee
Click to expand...

Not true. The median price gap between Sydney and perth is less than 50%. [ happy to be proven otherwise by stats...]

But anyway, I was not referring to dollar amounts - neither house price dollars nor salary $. My earlier post mentions depth and breadth of jobs- this results in choice and options. And having choices costs money. So the abundance of choices do need to be balanced against the costs. the value of having options is subjective I know, in my view, jobs choices in syd justifies the prices of Sydney over the price of perth.
Similar views on Melbourne over perth and Brisbane over perth. I fully understand that this is subjective, however. Some people simply wont care about choice, others cant sleep at night without having bullets in their gun...
 
Look it up yourself, sydney is about 50% more. How that represents better value than perth is beyond me but happy to disagree here

Also on the one hand you say you're not referring to $$, on the other you're making references to house prices.
 
eeew said:
In my opinion, there are better value plays than perth. I always thought perth to be overpriced for what it offers. Its no Sydney nor Melbourne nor even Brisbane, yet prices in perth are high comparatively.
Click to expand...

yes it's all opinion, Brisbane is ok I am sure but it's not as a complete package as what Perth offers. Syd/Mel, these are more of the bigger style cities for those that want that. If you only have an aussie passport then that is the extent of your choice but for people on the west coast you may as well just sit on the plane for a few hours longer and commute to Europe to get to a true international city - again, if that is your gig
 
MTR said:
I have not really watched this market, however I do know it did get hammered big time, just like Mandurah, perhaps 30%+ drop, so Ausp sees these prices today as good value I guess.

I suppose this was the playground of the rich some 7 years ago, and was the first thing they had to sell when the market crashed, I don't think it has fully recovered. Still these prices do not really fit the average Joe/Jill looking to buy a weekender.
Click to expand...

eagle bay was every bit of 30%, more like 50%

here's why dunsborough / eagle bay / Yallingup and to some extent abbey and Busselton are one of the safest plays you can make, entirely IMO.....

- some prices are still 50% off what they were 7 years ago
- potential for high yield, my property is pulling in 8% gross... these returns are usually the preserve of 'high risk' one horse towns
- traditionally very high cap growth market
- market has most definitely turned

Going forward it has been completely de-risked. Whilst the dross of the perth market may take a hit as the fluoro brigade lose jobs, cashed up retirees are commencing their migration south and they don't care less about barrow island, roy hill or gorgon. Prices have been gutted, there is a wave of secure and cashed up buyers heading in, yields are high.

and there's another twist that really puts the icing on the cake here
 
Ausprop said:
eagle bay was every bit of 30%, more like 50%

here's why dunsborough / eagle bay / Yallingup and to some extent abbey and Busselton are one of the safest plays you can make, entirely IMO.....

- some prices are still 50% off what they were 7 years ago
- potential for high yield, my property is pulling in 8% gross... these returns are usually the preserve of 'high risk' one horse towns
- traditionally very high cap growth market
- market has most definitely turned

Going forward it has been completely de-risked. Whilst the dross of the perth market may take a hit as the fluoro brigade lose jobs, cashed up retirees are commencing their migration south and they don't care less about barrow island, roy hill or gorgon. Prices have been gutted, there is a wave of secure and cashed up buyers heading in, yields are high.

and there's another twist that really puts the icing on the cake here
Click to expand...

The 8% is holiday accommodation right?
If so, then you perhaps renting for 10 weeks of the year? does that cover all out of pocket expenses??

I think for those who have some extra cash lying around and looking for long term holiday home for lifestyle then of course you are buying on low, probably not a bad idea. However, would it make a great investment, not sure, does not suit my risk strategy, entry level too high and I think we are still a way off getting substantial growth in this area at these entry levels. Perth blue chip has still not recovered IMO, that will possibly happen before south west high end stuff??
 
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