The West - Perth house prices set for biggest climb

[gooram]

I think alot of people did very well out of the last Perth boom, so there would be alot of people cashed up, or equity'd up ready to buy again, they just need a reason.

I think late last year things were moving again on the back of big mining contract news, but has now settled down again given the GFC2 scare and the mining tax and the federal election coming up.

Booms occur for a reason, not because there has or hasn't been one for x amount of time.

My feeling is that Perth just needs a little spark to get it going again, this lull might be the time to start shopping.

 

[bene313]

I think alot of people did very well out of the last Perth boom,

And the property boom was only part of it. A lot of people made a lot of money over the past 10 years in non-property related boom areas.

Just count the Sunseekers in Thompson's Bay on a summer long w/e.

 

[HiEquity]

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.

So you reckon if you can buy the land outright and bring the bank the title you might be able to get funding for the development?

Or would you still need the presales / more ($300k?) cash? Is that on an assumption of 70%LVR on final val?

Could be an attractive develop and hold at the right price... good depreciation, save a bucket load of stamp duty and all that. Careful I don't slip back to the dark side...

 

[Ausprop]

dunno HE.... brokers may help here. should think that if you own the land you would be right but who knows these days.