Perth Property Market updates

[WesternRat]

yah that's me, after some major delays we are almost done, looks fantastic. ended up ripping out bathroom, laundry and kitchen too. should be on the market early new year (gonna be a busy xmas)

judging from some of the other home opens in the area, OMG there are some really poor examples out there - if yours is clean and well presented it should still be snapped up quite quickly in this market, especially if the price is around the FHB stamp-free mark (was that $430k?)

 

[Demoivre]

I guess it may have been under market rent?
Thinking about it more, my circumstances are in part a result of not well thought out WA State Govt revenue changes coming in next year.

It's more of the fact that they have been living their for quite some time and do not wish to leave. My pm gauges her willingness before discussing with me.

 

[INVSTOR]

yah that's me, after some major delays we are almost done, looks fantastic. ended up ripping out bathroom, laundry and kitchen too. should be on the market early new year (gonna be a busy xmas)

judging from some of the other home opens in the area, OMG there are some really poor examples out there - if yours is clean and well presented it should still be snapped up quite quickly in this market, especially if the price is around the FHB stamp-free mark (was that $430k?)

Congratulations!
After spending about 3 days scrubbing the property as previous owner was a heavy smoker, didn't like housework and had three dogs I'd say it's neat now. It's fairly neutral 80's slightly updated style rather 70's or modern. Yes, I think cut off is now $430,000 than on a scale up to $500,000.??

 

[INVSTOR]

I was a bit shocked seeing this yesterday. Apartments in Bennet Springs! Will be interesting to see if they sell. Maybe an upside is that I think there is a regular bus service to Bassendean train station. http://www.qubeapartments.com.au/buildings/springs-apartments/?link=location

 

[boeman]

Seriously thinking about upgrading my PPOR next year now, some nice houses to be had around the $700k mark in the areas I want to live in (Doubleview/Scarborough) that are sitting around for a while. Hopefully a bit of a dip in prices at that end of the market while Marangaroo is selling strongly.

 

[sanj]

Good time to be selling a potential development site in a traditionally cheaper area and use it to upgrade to a single resi site in a nicer area

 

[MTR]

Perfect timing, sell move on and upgrade

 

[MTR]

I was a bit shocked seeing this yesterday. Apartments in Bennet Springs! Will be interesting to see if they sell. Maybe an upside is that I think there is a regular bus service to Bassendean train station. http://www.qubeapartments.com.au/buildings/springs-apartments/?link=location

Apartments going up everywhere. I think a product that is at very low entry level, close to transport should probably do OK.

 

[westminster]

Seriously thinking about upgrading my PPOR next year now, some nice houses to be had around the $700k mark in the areas I want to live in (Doubleview/Scarborough) that are sitting around for a while. Hopefully a bit of a dip in prices at that end of the market while Marangaroo is selling strongly.

Good time to be selling a potential development site in a traditionally cheaper area and use it to upgrade to a single resi site in a nicer area

Perfect timing, sell move on and upgrade

Go for it Boeman. It's interesting how some areas can be still moving and others not and watching the market helps you find those.

Your PPOR is a valuable asset that enables you to upgrade and not pay CGT There is that nasty stamp duty but it's worth it if you buy smartly. With your skills and contacts your PPOR can see you do well. Imagine if you bought a place in Doubleview, reno front whilst building in rear. Sell front off as PPOR then move into rear house and turn into PPOR.

Many ways to skin the cat.

 

[boeman]

Go for it Boeman. It's interesting how some areas can be still moving and others not and watching the market helps you find those.

Your PPOR is a valuable asset that enables you to upgrade and not pay CGT There is that nasty stamp duty but it's worth it if you buy smartly. With your skills and contacts your PPOR can see you do well. Imagine if you bought a place in Doubleview, reno front whilst building in rear. Sell front off as PPOR then move into rear house and turn into PPOR.

Many ways to skin the cat.

That is it. I am confident I could go for $500k + for Marangaroo given recent sales and continuing hype on rezoning. My house is the best 3x1 around, and the only one I have seen with a flat empty 300m2 rear and 5m clearance on the LHS ready for battleaxe.

Doubleview I want an original front house already subdivided as cheap as possible, so I can renovate and flip down the track. Do it a few times over until I have a minimal debt on PPOR to purchase a block and build for IP #1.

 

[MTR]

That is it. I am confident I could go for $500k + for Marangaroo given recent sales and continuing hype on rezoning. My house is the best 3x1 around, and the only one I have seen with a flat empty 300m2 rear and 5m clearance on the LHS ready for battleaxe.

Doubleview I want an original front house already subdivided as cheap as possible, so I can renovate and flip down the track. Do it a few times over until I have a minimal debt on PPOR to purchase a block and build for IP #1.

You may even have a buyer on SS, I sold a Girrawheen property in a Syd investor, win/win, no agents fees.

Put it out there

 

[boeman]

You may even have a buyer on SS, I sold a Girrawheen property in a Syd investor, win/win, no agents fees.

Put it out there

Hrmm interesting.

See what the new year brings and how the pocket of Doubleview/Scarborough I want is going, but at this stage it looks promising as my property is sitting in a unique market on its own. South Scarborough (bordering Wembley Downs) or Doubleview situation between Sackville/Scarborough Rd/Duke/Huntriss is where I think there is good value.

Also of note is that the carpark surrounding the cinemas in Innaloo has a huge proposal for bars/restaurants/shops. Whack that in, with existing services, Stirling train station. Innaloo is good value still IMO.

 

[westminster]

Hrmm interesting.

See what the new year brings and how the pocket of Doubleview/Scarborough I want is going, but at this stage it looks promising as my property is sitting in a unique market on its own. South Scarborough (bordering Wembley Downs) or Doubleview situation between Sackville/Scarborough Rd/Duke/Huntriss is where I think there is good value.

Also of note is that the carpark surrounding the cinemas in Innaloo has a huge proposal for bars/restaurants/shops. Whack that in, with existing services, Stirling train station. Innaloo is good value still IMO.

I'm dying for Aldi to move into that

PS there is 2 ex Houso auctions for Doubleview coming up.

 

[spanna]

I'm dying for Aldi to move into that

.

Is this actually happening WM?

 

[Jamie_]

Is this actually happening WM?

@ Innaloo movies redev

 

[westminster]

Is this actually happening WM?

Yup it's happening

 

[unloadmymind]

The property market for houses in Perth has been given a higher risk status in five of a total seven points of measurement from Herron Todd White.

Of the seven points of measurement, the two remaining stable include:

New properties are ‘almost never’ sold at prices exceeding their potential resale value.

The ‘rental vacancy trend’, which, while not exactly for investors, remains at an ‘increasing’ level.

Here are the five indicators that have been upgraded to higher risk status:

RENTAL VACANCY SITUATION - Oversupply of available property relative to demand

DEMAND FOR NEW HOUSES - Soft

TREND IN NEW HOUSE CONSTRUCTION - Steady

VOLUME OF HOUSE SALES - Declining

STAGE OF PROPERTY CYCLE - Declining market

 

[Tano]

This is a pretty good article (most/all of the interest rate articles i have read are just hot air with no real content).

http://propell.com.au/blog/real-est...world-interest-rates-fall-ours-has-to-follow/

 

[MTR]

Thanks Tano

I think property Australia wide will be in for a bumpy ride and already starting.

One thing that has already happened is the Au$ slip sliding it was only 6 months ago I think where we were at 90-1.00, we are now at 80 and trending down, I expect we will hit 72 as suggested in this article this year.

Interesting times.

MTR

 

[Rixter]

One thing that has already happened is the Au$ slip sliding it was only 6 months ago I think where we were at 90-1.00, we are now at 80 and trending down, I expect we will hit 72 as suggested in this article this year.

Currency traders will be rubbing their hands together with $AUD dropping from the inflated last few years.

Hands up who had the foresight to purchase $US on its unprecedented highs?