yeah i concur - at least a year before we some movement.
Perth - Start of New Boom 2011 ?
- Thread starter Alex P Keaton
- Start date
I dont think Perth will see its next boom until after the next IR round as it goes up more and then starts the downward trend.
The upward rate trend coupled with the population increase will fuel rental yields enticing investors back into the market. This will mark the start of the next property cycle.
Then the downward rates cycle will entice buyers (some who rent & others migrating) back into the market coupled with the huge under supply of new housing struggling to keep up with the demand will herald the next major property boom for Perth.
The upward rate trend coupled with the population increase will fuel rental yields enticing investors back into the market. This will mark the start of the next property cycle.
Then the downward rates cycle will entice buyers (some who rent & others migrating) back into the market coupled with the huge under supply of new housing struggling to keep up with the demand will herald the next major property boom for Perth.
And when do you think that might roughly be ?
Who knows for sure what the RBA decide to do and over what length of time. They dont even know and nor do the economists. Its all crystal balling. All we can do as investors is predict what the possible outcomes maybe from the underlying fundamentals presented at the time, then position ourselves best we can so to take advantage of it. Which is what my prediction is based upon in the previous post.
I agree Rixter....Perth is going to do what Sydney did between 2003-2009.
Better to wait and see if one can pick up bargains as interest rates bite.
Better to wait and see if one can pick up bargains as interest rates bite.
I remember my first property had basically no real growth from when I bought it in 1993 up to 2000, then achieved 80% growth up to when I sold it to upgrade 3 years later in 2003.
yes the 90s were dismal indeed. however the sheer size of this resources boom could be a game changer. might not be but it could be - heck who knows. just hold as much property as you can for as little cost possible and see what happens - i dont see it getting much worse, the only danger is enduring relentless negative cashflow.
Yes...I saw that ...those were the days you could by houses for 60-90k in outer subrubs ...Perth has trended down for 2 years....so it could be a while before it picks up again.
But if you are prepared to push hard and can find good CF might be an opportunity to pick up bargains.
I am seeing the samethings happening in Qld.
My feeling is that the SA market offers the most potential as it is affordable and rental vacancy is very tight!
...Perth has trended down for 2 years....so it could be a while before it picks up again.But if you are prepared to push hard and can find good CF might be an opportunity to pick up bargains.
I am seeing the samethings happening in Qld.
My feeling is that the SA market offers the most potential as it is affordable and rental vacancy is very tight!
The dart landed on 3-6 years.
Taking us up to 7-10 years since our last.
There's booms and then there's majors. Majors happened after WW2 and from 2000-07. They were majors. The rest were merely areas of growth IMO
The latest figures show Perth to be still in the doldrums. Whats worse is that houses arent selling quickly, so theres no upward pressure on price.
edit: http://au.news.yahoo.com/thewest/a/-/newshome/8743546/another-fall-for-house-prices/
edit: http://au.news.yahoo.com/thewest/a/-/newshome/8743546/another-fall-for-house-prices/
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In the past few weeks I have witnessed a couple of properties I have been sniffing around removed from the market and relisted at 10 - 15% increase on original asking price.
Dexx, I noticed you have a hand in Busso. Another property in Busselton I inspected 2 years ago at 785k has just been relisted at 939k, a huge 20% increase.
It seems that the expectations of some vendors are rising, even if prices aren't.
Cheers,
Beef.
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You are right AP, I have been noticing a slight change in the wind, even further south in Margs where many investors and weekenders have been leaping off for a while now.
Although the upper price areas in Busso like Kalgaritch, Country Road etc hardly seemed to miss a beat. There is a high proportion of FIFO guys in those areas and the airport just 5 minutes away has been flying miners out right through the GFC.
While the rest of us have been sweating it out, many of those guys didn't miss a pay packet. Bless there big cotton Hi-vis socks.
Cheers,
Beef.
Although the upper price areas in Busso like Kalgaritch, Country Road etc hardly seemed to miss a beat. There is a high proportion of FIFO guys in those areas and the airport just 5 minutes away has been flying miners out right through the GFC.
While the rest of us have been sweating it out, many of those guys didn't miss a pay packet. Bless there big cotton Hi-vis socks.
Cheers,
Beef.
I dont know the true stats, but from talking to RE agents they say 80% of buyers come from the web now. So I really like following the below link:
http://www.google.com/trends?q=Real+Estate,+Property&ctab=0&geo=au&geor=aus.wa&date=all&sort=0
And
http://www.google.com/trends?q=Real+Estate,+Property&ctab=0&geo=au&geor=aus.wa&date=ytd&sort=0
If you are really interested you can also do this:
http://trends.google.com/websites?q=www.realestate.com.au&date=all&geo=aus.wa&ctab=0&sort=0&sa=N
I have found it quite interesting as people search for RE before they buy RE. Some studies have suggested this as a reliable tool with some stats and other studies have suggested it's unreliable, so take it as a pinch of salt. But, when some people last year were saying a late 2010/early 2011 recovery. The search stats didn't suggest this.
http://www.google.com/trends?q=Real+Estate,+Property&ctab=0&geo=au&geor=aus.wa&date=all&sort=0
And
http://www.google.com/trends?q=Real+Estate,+Property&ctab=0&geo=au&geor=aus.wa&date=ytd&sort=0
If you are really interested you can also do this:
http://trends.google.com/websites?q=www.realestate.com.au&date=all&geo=aus.wa&ctab=0&sort=0&sa=N
I have found it quite interesting as people search for RE before they buy RE. Some studies have suggested this as a reliable tool with some stats and other studies have suggested it's unreliable, so take it as a pinch of salt. But, when some people last year were saying a late 2010/early 2011 recovery. The search stats didn't suggest this.
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