Perth Property Market updates

Nothing incredible tbh, there has been quite a few sub 900k properties with abit more land than that in the past few months in North Perth.

Yeah there has, but this one has a rear lane which makes it oh so much more attractive for development :)

And yes it is not incredible as such, but if you pick this up for around 800,000 it is great buying for a great parcel of land with a lot of upside.

Good buying at 800,000
 
It's a decent buy but not outstanding. Margins have been getting better as I predicted, that will continue for a while imo
 
There have been a lot of dev sites dropping by large amounts and quickly. But end vales are also taking a bit hit. In the next six months would be a good time to buy whilst the market is depressed
 
Its been under offer for 3 months. The agent hasn't updated the listing to say its under offer. Probably trying to generate leads. Knob

I don't think it is under offer as the price has been dropping. Perhaps it was under offer and it's fallen over? Last week the price dropped more than $50k

It's not an 'easy' block, there are road widening reservations and sewer issues but it is comparatively good value.
 
Valuer came around today. Said perth market has dropped 10% in six months with outer suburbs (eg Alkimos) hit harder. Price drops due to unemployment increasing, consumer confidence decreasing and lending standards tightening. Its a good time to buy (if you buy well)

ps: dont believe the BS peddled by REIWA and the news about prices steady. If your on the ground and watching prices then you know whats really happening.
 
No surprise that places like alkimos are getting hit the hardest.

People silly enough to buy badly built cottage block stuff all the way out there won't be too happy
 
Valuer came around today. Said perth market has dropped 10% in six months with outer suburbs (eg Alkimos) hit harder. Price drops due to unemployment increasing, consumer confidence decreasing and lending standards tightening. Its a good time to buy (if you buy well)

ps: dont believe the BS peddled by REIWA and the news about prices steady. If your on the ground and watching prices then you know whats really happening.

Agree
I won't be starting my Willagee project because I am also concerned how end values will stack up on completion. Am just going to sit back and watch. Also the tightening of finance will hurt everyone, did not realize the impact on investors, lot of nasties here

Mtr
 
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