Perth Quarterly Data

[D.T.]

Hello all,

This weekend's "The West Australian" had the first quarter's suburban property stats in it.

I was surprised by some of the growth figures, several suburbs at 5 - 10% growth over the last 3 months. Then again, a few had -2 to 0% too.

Overall I'm not too happy with the report, it wasn't as comprehensive as they had hyped it up to be.

What did all the other Perthites think of both the report, and the figures contained in it?

-Regards

Dave

PS: If any eastern staters, or ppl who didnt catch Saturdays paper, want the stats catch me in the chat room one nite this week. I have compiled them into spreadsheet.

 

[noddy]

Dave,

Would love to get a copy, but unlikely to be in the chat room.

You can attach files to posts...would that be an option??

Cheers,

Noddy

 

[TheBacon]

Hi D2K,

I thought the numbers seemed correct, at least in the areas I am familiar with; Bassendean (and around) and Orelia (and around). Both areas saw good growth over the quater which I agree with through personal observation.

A few months ago I was looking at Orelia (but had no job or money) and units were 68-70k. When I purchased I bought for 73k (settled last week). This is a 5-7% increase from December to now. Also this seems to be continuing, the units I was looking at were advertised at 75k 2 months ago, most now advertised at 79k... I live in Bassendean and the prices have continued to climb at a high rate for the last few months (probably as a flow on from HUGE Bayswater rises) and will hopefully continue a friend bought in Bayswater and has seen his value rise (recent bank valuation) in accordance with the +20% rates published for that area.

I havent read the articles but most likely they were written by journalists with little/no interest or knowledge of property (just good research skills). Also they propbably got all their info from real estate agenst, not 'investors'. This may explain why the content is lacking (although as I said I havent read much of it). Dont get me started on REIWA.....

Overall my impression of Perth prices (from my habitual Saturday morning scan of the property section) is that prices have continued to rise in Perth. Perth is still attractively priced compared to Syd/Melb. Whether or not this will continue I wont try to predict but I hope so !! !!

Perth, the best capital city in OZ to live in.

TheBacon.

 

[D.T.]

Hi Noddy,

Thanks for the suggestion, though I've already emailed it out to a few. Please find it attached to this post (if it worked). I combined some data from both the paper and the reiwa site, and then added a ranking system to it. Im not sure if everyone will agree on the ranking system tho lol.

Bacon,

I've been watching Bayswater now for a while. I considered it a good place to buy in a while ago, but while saving up a deposit its gone way up. Looks like I'll have to catch the next suburb then, no dramas

Orelia is good for a bit of rental yield, but in my opinion, the chances of high long term growth seem rare. Perhaps you can tell me what you like about it?

I totally agree that the articles written by journalists, not investors. They are basically aimed at home owners, which is why i guess things like the property performance liftout aren't very comprehensive. Hopefully the spreadsheet adds a little value in this regard.

I most definately agree that Perth is a great city to live in. I plan to test every city out when I retire, just to make sure

-Regards

Dave

 

[noddy]

Hi Dave,

thanks...the download works and file looks excellent!!!.

Cheers,

Noddy

 

[D.T.]

Hi Noddy,

Thanks for the kind words. However, I checked it out this evening and the ranking system had a major flaw in it. I'd encourage everyone that I've emailed it to, or those that downloaded it from this thread already to download it again.

I've deleted the attached file from the above msg and attached the corrected one to this one.

-Sorry for the Inconvenience.

Dave

 

[noddy]

Hey Dave,

Thanks for the update!!! New one downloading now

Cheers,

Noddy.

I've noticed the value of my property SOR is going up faster than I am renovating it!!! Wish I'd bought more than just one last year

 

[D.T.]

HI,

Where abouts are you from, and where abouts did you buy?

- Regards

Dave

 

[noddy]

Hi Dave,

I'm from Syd; In Melb; Bought in Kelmscott.

I thought...think big but start small, so went SOR. Monthly costs are so low I could have zero cashflow from the property and just use it for the learning experience....

A learning experience!!!...I thought sand was supposed to be at the beach??!!

Noddy

Dave..whereabouts are you...and what keeps you up/gets you up at this crazy hour of the day??

 

[D.T.]

Hi,

Haha, I'm having trouble believing theres actually habitable houses in Kelmscott I dont think I'd buy there myself, the tenants and the property would probably both be too high maintainance

Im not sure what you mean about the sand tho, is it just wind blowing it in?

Im in Ballajura myself, and about being up at 4am.. cant really sleep, too excited about the next 80 years of my life Plus I have work shortly (in Joondalup)

-Cheers

Dave

 

[noddy]

Hi Dave,

Down Armadale/Kelmscott way there is a lot of sand instead of soil.

It is definately an INTERESTING area, but like all suburbs; there are areas to keep away from and I have some distance from those.

If you look at the vacancy rate = 1.7%...Never need to worry about finding tenants; just need to ENFORCE the way rent is paid..IE.... my way=not late!!

Funny thing about areas...I bought not because I would live there; but because it was low-cost; low holding costs and low risk of vacancy. (Not one of those is what I use to choose for me to live!)

Enjoy your day;

cheers from Sunny Melb ...(currently 4 Degrees and foggy)

Noddy

 

[TheBacon]

D2K,

I agree that long term Orelia may not be as good as inner city Perth. However....

Homeswest houses and flats getting done up and sold to private tenants - pushing prices up

New train line (still a year away) - pushing prices up

Massive growth in Rockingham (prices + rents) - flow on effect to neighbouring areas

these are the short-term growth drivers for the area.

Long term? Hard to tell but Rockingham has become a major suburban/regional centre and there is a lot of development in the area. Also there is a planned Kwinana/Medina redevelopment.

Oh, and the area is one of the few where houses are below $100k in the Perth metro area, well below replacement value.

Fingers Crossed

Noddy----
Perth is virtually all built on an alluvial sand plain. Not much in the way of soil, mostly sands.

TheBacon

 

[steve]

Hi all,
I am wondering what Perth people think of Scarborough Beach investment wise and generally. Any thoughts appreciated.

Thankyou Steve.

 

[itinerantotter]

Dave

Thanks heaps for the spreadsheet!!!

Cheers,

 

[D.T.]

Bacon:
The way that the prices in the metro are heading, i may have to head down too, where its still affordable lol.

Steve:
I dont really know anything about Scarborough sorry, I'm sure theres plenty of other Perthites that might come along to offer their opinions.

Inter: You welcome! It says on your profile that you're in Perth... this is only the data from the newspaper / reiwa site (plus my own ranking system), didnt you get the paper? ;p Where abouts in Perth are you? and where abouts have you been investing?

-Cheers

Dave

 

[itinerantotter]

Originally posted by dtraeger2k

Inter: You welcome! It says on your profile that you're in Perth... this is only the data from the newspaper / reiwa site (plus my own ranking system), didnt you get the paper? ;p Where abouts in Perth are you? and where abouts have you been investing?

I guess you mean me! Yes, I got the paper, but it's really convenient having the data on a spreadsheet. I'm in Freo, and investing in Freo, Coolbellup, Hamilton Hill, Yanchep, Kardinya, Parkwood and Hillman.

Cheers

 

[izzy]

Hi
Here is a link some Perth property stats/ info that may be of help

http://www.propertymillionaire.com.au/news.php

regards Izzy