The West - Perth house prices set for biggest climb

Another forecasting article! This one is saying Perth will grow nicely over the next 3 years and will grow the most out of all citys.

Betchya though tomorrow another article will say Perth is crashing and wont recover for a long time!

How do you see Perth traveling in the next few years? I think there will be moderate growth in the next couple of years and then will start to pick up come 2012 with the help of the resources sector and gorgan.

Perth house prices set for biggest climb


No other capital is expected to enjoy such strong capital growth, with even higher interest rates unlikely to slow the Perth market as much as others.

Mr Zigomanis said the median house price would climb 22 per cent by the middle of 2013. This growth would be quicker if the Reserve Bank did not increase interest rates in the next six to 12 months.

Growth at that rate would surpass other capitals such as Sydney (up 20 per cent), Melbourne (11 per cent), Brisbane (12 per cent), Adelaide (20 per cent), Hobart (12 per cent), Canberra (14 per cent) and Darwin (12 per cent).
 
Heard this on the radio on the way into work this morning. It basically works out at 7% pa which is probably about the long term average anyway. Did they predict you'd get 5 tails out of the next 10 coin flips, too? :rolleyes:
 
I think if you just try, you can find a news article which supports whatever veiew of the housing market you want. We've read Perth was too hot better value elsewhere, now it's hot again, or not... hmmm :D
 
Another forecasting article! This one is saying Perth will grow nicely over the next 3 years and will grow the most out of all citys.

Betchya though tomorrow another article will say Perth is crashing and wont recover for a long time!

How do you see Perth traveling in the next few years? I think there will be moderate growth in the next couple of years and then will start to pick up come 2012 with the help of the resources sector and gorgan.

Perth house prices set for biggest climb
Hi Alex
I would love nothing more than Perth market to go ballistic, unfortunately not the case, read what you like and all the spin, but if you are into facts and the figures and how long term property sales on the market you will realise it aint that rosey.

If you expect better than Perth market then you need to put the Hard yards in and go over East, this is a different cycle, I am sure you will get growth which will help with the negative, buy a couple and you will be infront.

Cheers, MTR
 
MTR i know things are gloomy now but dont you think the resources boom will really push prices? especially as nothing has been developed for a couple of years now
 
Who cares what's forecast...the real players quietly go about their business irrespective to what's being said and/or done by others around them.
 
MTR i know things are gloomy now but dont you think the resources boom will really push prices? especially as nothing has been developed for a couple of years now
I dunno. Eventually yes, but there seems to be all this 'global uncertainty' that may inevitably hinder the said resources boom, not to mention RSPT or other factors affecting confidence.

I'd be waiting for the yields to come up a bit here first before another buy. The negative gearing prospect seems unattractive right now.
 
MTR i know things are gloomy now but dont you think the resources boom will really push prices? especially as nothing has been developed for a couple of years now
Hi Aus,
There may well be some areas that will boom and perhaps blue chip will rebound??? I really have no idea.
Generally speaking though there is so much stock on the market and yields are miserable I just can't see a boom for Perth at the moment.

I would look at playing in the Perth market if I could find something where I can add value, ie reno, development. Started looking, but not finding it easy, need some help if anyone has any suggestions where this could work.

Rixter those newspaper articles are totally ridiculous, and usually have nothing to do with facts.

Cheers, MTR
 
I would look at playing in the Perth market if I could find something where I can add value, ie reno, development. Started looking, but not finding it easy, need some help if anyone has any suggestions where this could work.
Define your specific purchasing criteria? If you do not know what you are looking for you will never know when you have found it. From my experience thats the number one issue that creates frustration with knowing what & where to buy.
 
who is this zigomanis and who does he work for? no mention of that anywhere.

this is the article i quoted yesterday.

i don't think Perth's going anywhere like it did in boom times. moderate growth - sure. no growth - absolutely possible.
 
am pretty sure the agent said they were (and i know that area has recently been rezoned) ...didnt take much note as i am not in the market anyway, however if i had the coin i would consider it. still a fan of churn and burn resi. would never hold the stuff at high LVR again tho (i.e. develop 14 hold 1 unencumbered could be ok. or 2 and use as a deposit on a nice comm property)
 
too right MTR - financiers have pulled down the shutters and run for the hills. Still i think you could presell these ok at those sorts of prices so it's a matter of having, lets see.... about $1m cash or free equity.

still even if it you just chunked it down to 1 block, 4 units.
 
private equity people.

on 14 units you could easily be left with 2 lots in a deal exclusively yours, unencumbered, after payouts and stats.

hmmmmmmmmmm.
 
Kero
I reckon you could be right, Perth market peaked late (Dec) 2006, if you believe in past predictions it is way too early for another boom in the Perth market. I have no idea why but my data and research tells me it aint gonna happen now.

However, East Coast is prime, Sydney peaked 2003, we see inner city Syd 2010 booming and I would say by late 2011 early 2012 ripple effect, outer suburbs... booooom. I would be chasing central coast but it probably wont matter where you buy at this point.

To date we have now witnessed 2 booms in Melb market 2007 and 2009 it's been a catchup game, now overtaken Perth's median. This is now stabilising, going sideways..... however I would say 2011 watch out.

I decided to sit on the sidelines in Perth as there is no point when the cycle favours East Coast. We had our time in the sun, just not their yet at the moment, just my thoughts.

Cheers, MTR
 
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