Yeah but, no one here would be foolish enough to be buying houses in Subi, especially a few years ago. Crazy stuff indeed.
The Property Mood in Perth - Feb 2011
- Thread starter Steve Fitz
- Start date
Yeah but, no one here would be foolish enough to be buying houses in Subi, especially a few years ago. Crazy stuff indeed.
nice one Dazz! actually subi is a top pick for me for many reasons, however the fact that it is becoming what west perth use to be is actually a detraction from its residential amenity. If only I could afford a 1000sqm block in subi with a character home.... Ironically subi centro use to be superior to old subi, this has reversed in the last few years but I suspect it could change back again.
subi has already had it's demographic change so it's a bit of adead duck IMO.
you want the next subi before it becomes the next subi...
you want the next subi before it becomes the next subi...
I think I have that one identified. there aren't many that meet the criteria.
still if you want the subi lifestyle you have to either pay for it, or wait. and it could be a long wait and life is short
I would be interested to see actual sales evidence of this!
I think this is more based on peoples opinion of value, not actual sales.
I remember on guy telling me a few years ago properties down the road in Subi Centro being 'worth' $2-2.2mil. Yet when I looked at the sales evidence it was all around $1.4-$1.6mil.
None of my properties in Subiaco have experienced an actual decline. Sure the sentiment of the area has declined by 20% but actual values have not.
From my experience there has been 0% growth for about the last 3-4 years but there has not been a decline.
Mind you I am not sitting in the $2mil zone either....
Subi is a great area due to location and amenities, that'll never change. If you can get in at a good level then I think it's a great investment both for IP or PPOR.
I'm interested in where Ausprop has identified the 'next Subi' - but I can't see him spilling his beans all over this forum
I'm interested in where Ausprop has identified the 'next Subi' - but I can't see him spilling his beans all over this forum
Well one of my sources cites a large Perth A grade office owner is discounting market rents by 30% to get tenants after losing a number who all signed up with some of the new space that is coming on to the market. He is obviously not happy about it...
And I notice a recent Savills report puts Perth CBD office vacancies at 9.5%. Could be awhile before all this new space works its way through the system...
Yet to see the impact on pricing though - vendors still seem to be getting good money for the properties they sell, albeit it seems there's not a lot of evidence around to make many conclusions on valuations. I guess if they don't get their price and no-one is forcing the sale then values hold.
As always, it all makes it hard to know when to jump in...
And I notice a recent Savills report puts Perth CBD office vacancies at 9.5%. Could be awhile before all this new space works its way through the system...
Yet to see the impact on pricing though - vendors still seem to be getting good money for the properties they sell, albeit it seems there's not a lot of evidence around to make many conclusions on valuations. I guess if they don't get their price and no-one is forcing the sale then values hold.
As always, it all makes it hard to know when to jump in...
That tells us alot about the ameneties anywhere else if Northbridge has "the best"
Yes, it does!
Northbridge has free public transport, a museum, a state library, over 200 restaurants, many small bars and pubs, many galleries, and is the closest of every suburb to the CBD.
No other suburb in Perth has this.
that's really strange HE - the west has reported several times recently the tightening in the market and the looming shortage. where in lay the truth?
it's the free bashing that comes with every night out that is the concern. if that could be dealt with it would be good there.
lol
Typical Today Tonight / A Current Affair viewer
Although, I have been murdered twice this week, so there must be truth in your fearful claims.
IMO I think HE has the right of it - especially in the near future. Alot of stock is coming on line/already online with Raine square, 44 William St, Enex 100, the BHP building and a host of others.
I just don't see how their can't be a short term suplus of office space. I also heard it's not just big CBD properties but the smaller boutique offices in West Perth and Subi are struggling abit.
Edit: I personally know of some small companies leaving west perth/subi for less central office space in Joondalup etc.
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lol
Typical Today Tonight / A Current Affair viewer
Although, I have been murdered twice this week, so there must be truth in your fearful claims.
if it weren't for the wink i'd have jumped in here....
thanks for the insight i appreciate it.
there is nothing wrong with NB apart from james and lake st after midnight on friday and saturday (which is undoubtedly a s**thole). if youre old enough to be watching and believing the tripe on TT/ACA/Perthnow then i take it you'd be in bed by then
most people who criticise it havent been there in years
back to the topic though, ive got a few places that will be sold in the next 6 months and i must say sentiment is quite varied across them
morley - agents seem to be extremely negative at the moment, prices for some properties have risen but in a lot of cases flat and not selling. land is selling extremely slowly at the moment although there is a tiny bit of activity
inglewood/maylands - renovated 3x1s on subdivided blocks seem to be doing well again after struggling towards the end of last year
highgate/north perth etc - apparently the 800-1m mark doing quite well at the moment and a couple of good sales in the 1.2-1.4m mark that wouldve struggled last year
can only comment on these areas as it is where ill be selling and so have been focused on. flat markets arent all bad though, the morley and maylands purchases were during the current flat market and have been quite profitable
just some observations i thought i'd share
kingbrown = NVL?
most people who criticise it havent been there in years
back to the topic though, ive got a few places that will be sold in the next 6 months and i must say sentiment is quite varied across them
morley - agents seem to be extremely negative at the moment, prices for some properties have risen but in a lot of cases flat and not selling. land is selling extremely slowly at the moment although there is a tiny bit of activity
inglewood/maylands - renovated 3x1s on subdivided blocks seem to be doing well again after struggling towards the end of last year
highgate/north perth etc - apparently the 800-1m mark doing quite well at the moment and a couple of good sales in the 1.2-1.4m mark that wouldve struggled last year
can only comment on these areas as it is where ill be selling and so have been focused on. flat markets arent all bad though, the morley and maylands purchases were during the current flat market and have been quite profitable
just some observations i thought i'd share
kingbrown = NVL?
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