WA - are you ready...?

[gooram]

awesome. now we can drink sewerage and sit in traffic all day but hey, we'll be a big town just like sydney! that'll show em.

I would prefer a monaco style city - quality not quantity

All water is recycled, it doesn't grow in the sky. Recycling our water just speeds up or guarantees that the water is coming back to us. I'm all for it.

Another hypothetical scenario being passed as news... Surely there's still some life in "the perfect storm"?

 

[redwing]

Australian Property News

Perth tops population growth charts

Thursday, April 01 2010 at 10:00 AM

Perth experienced a population growth rate of 12.8 per cent in the 2008/09 financial year, making it the fastest growing local government area in the country, according to a CommSec analysis.

Perth experienced a population growth rate of 12.8 per cent in the 2008/09 financial year, making it the fastest growing local government area in the country, according to a CommSec analysis.

Seven of the top 10 local government areas for population growth were in Western Australia, CommSec's review of Australian Bureau of Statistics figures shows.

Along with Perth, the other top five fastest growing population centres were:

•Tammin, WA (8.8 per cent);
•Wyndham, Vic (8.1 per cent);
•Melton, Vic (7.9 per cent); and
•Serpentine-Jarrahdale, WA (7.6 per cent).
The top five regional areas for population growth were:

•Mandurah, WA (5.3 per cent);
•Hervey Bay, Qld (4.5 per cent);
•Bunbury, WA (4.3 per cent);
•Cairns, Qld (3.3 per cent); and
•Gladstone, Qld (3.2 per cent).

"In New South Wales the hot suburbs have clearly been those close to the city," CommSec economist Savanth Sebastian notes.

"(The) inner-city suburbs of Canada Bay and Strathfield have been amongst the state's top performers, with population growth rates holding around four per cent to five per cent."

 

[Intrinsic_Value]

who knows, but i find it 'interesting'.
The last time Perth was perceived as the destination hot spot, was during the resources boom of the late 1980's. I remember some family friends going over there to find their fortunes (from Vic). They are now on the government pension

More than other capital cities, Perth will 'ride the sheeps back'.

 

[redwing]

Had to look this one up

Tammin

Tammin is located 184km east of Perth on the Great Eastern Highway. The Shire of Tammin covers an area of 1,087 km² and is bounded by the Shires of Kellerberrin, Quairading, Cunderdin and Wyalkatchem.

The Shire of Tammin, including the settlements of Bungulla and Yorkrakine, has a total population of 450. The economy of the Shire is primarily agriculture based.

Tammin is a typical wheatbelt town which derives its name from the tammar or tammar wallaby, a small wallaby which was the first Australian marsupial ever sighted by Europeans. The tammar, which only stands about 60 cm, is capable of withstanding droughts of over six months.

Tammin is a classic wheatbelt one street town with huge wheat silos (constructed in 1960 they were the first concrete silos built in Australia) and a railway line on one side of the road and the faithful old Tammin Hotel and a few shops on the other side

 

[Peter Parker]

Had to look this one up

Tammin

I know Tammin well.

It's a country town that's had almost continual population decline for the last 30-40 years.

It's population is so small (a few hundred) that adding a backyard barbecue's worth of people would give it a huge population growth rate.

I suspect it had something to do with the abattoir reopening http://www.merredinmercury.com.au/n...ttoir-reopening-boost-for-tammin/1742850.aspx

Take away 20 jobs, then add 20 jobs = huge growth rate from a low base

 

[redwing]

more research

Between 1997 - 2007 the population of Tammin decreased 8.5% or 38 people.

 

[chasethesun]

Best thing about Tammin is the roadhouse, it's the largest in WA!

 

[redwing]

Here are the people, where are the homes?

The disconnect between numbers of West Australians and new homes has been further emphasised in a new survey.

A report by the Housing Industry Association, a lobby group for home builders, shows that while the state's population grew by 3.2 per cent in the last financial year, the numbers of new homes being approved plunged 14 per cent.

Falls of more than 50 per cent in some areas were not uncommon, with most of the large rises coming in areas with small poulations.

More of us, but mostly living alone

WA is expected to have the nation's second-fastest rate of population growth in the next 20 years, but the makeup of households is likely to change drastically.

Australian Bureau of Statistics research shows the number of households in the state will increase between 66 per cent and 71 per cent between 2006 and 2031, to about 1.3 million.

But the proportion of single-person households will roughly double, to as many as 416,000 in the same period.

All the signs point to Perth property market

June 2, 2010
.Higher rents and the flow on to house prices are likely to see investors start to drive the Perth property market, according to a new study.

A report by Savills, which advises property investors, claims baby boomers are "back on board looking for quality housing stock" as the effects of the global financial crisis fade.

Savills analysis found the median house price at the end of last year was $480,000, higher than most other estimates, while it was $404,000 for units.

The "prestige property market pain" was almost over, as prices and demand recovered, but about half the sales in Perth were in the $400,000 to $750,000 bracket.

 

[Intrinsic_Value]

was based on last 10 years performance and extrapolatred forward. they just said karratha has returned about 26%CG for the last 10 years so in 5 years the mwedian would be about $2.6m. not bad on top opf the CF+!

mmmm this sounds very similar to some posts on this board generally when it comes to property investing.
XYZ suburb had the fastest growth over the last 10 years, better put my money there.
In fact it also sounds similar to many who buy shares.

Cant stop the human pyschology of greed vs fear.
Cant stop it so better to profit from it.

 

[Jebb]

Here are the people, where are the homes?



More of us, but mostly living alone



All the signs point to Perth property market

Coulda fooled me. Just rented out IP1 - same rent as April last year, almost 3 weeks to find a tenant. With all the news and banter, I was expecting $10 to $20 more rent per week and people clammoring to get in there the first day it was advertised for rent.

So where are all these new people living?

 

[Ausprop]

Dunno Jebb - there must be a lot of new supply hangover from the boom days? if we are facing a shortgage you sure ant see it now

 

[MTR]

I spoke to RE agent in Mandurah yesterday, he mentioned that Seascapes is getting ugly, investors going to the wall. Also mentioned an oversupply everywhere the lower end is selling, but prices have to be realistic, in other words your giving it away. Those $1M+ canal jobs they are a problem, finance not going ahead, this is what he mentioned. Does not surprise me in current environment.

Cheers, MTR

 

[Ausprop]

interesting MTR. as part of my restruture i think i will dump my mandurah units. time to move on, i cant see an potential improvement to justifythe neg cashflow. seascapes was sold at the height of the speculative boom, thankfuly the mate i put in there (gave him my alloation) flipped his block and walked away with a 5 figure sum. sounds like others have held way too long. wierd as i woul dhav thought it would be improving by now!

 

[Aaron Sice]

when in doubt - stay out.

that's been my mantra for ages - why change it now...?

i'm in doubt - while i see quality property holding it's value, or certain pockets improving in value, most of the outer-lying suburbs i think are due for correction or stagnation at best. considering most of Perth is suburbia, well....

sorry - i'm a short term bear.

 

[MTR]

Too many speculators came into this market, I recall at the time someone from Melb purchasing 30 blocks, wonder how he is going now?

Mirvac dropped the ball here I believe as there was not a mix of investors/OO at the time investors were in some cases buying 3-4 blocks in different names has not helped the area. Lots of dog boxes. I sold my L&H made some money but would have been far better off selling the block as the timing would have been perfect and would have made around $150K. Another lesson to learn.

CHeers, MTR

 

[Ausprop]

Too many speculators came into this market, I recall at the time someone from Melb purchasing 30 blocks, wonder how he is going now?

Mirvac dropped the ball here I believe as there was not a mix of investors/OO at the time investors were in some cases buying 3-4 blocks in different names has not helped the area. Lots of dog boxes. I sold my L&H made some money but would have been far better off selling the block as the timing would have been perfect and would have made around $150K. Another lesson to learn.

CHeers, MTR

the exact same scenario unfolded in singleton and to some extent anchorage. australand were giving preference to investors there! the impact on the later stages of the estate were dramatic. even these large and experienced developers fell for the same trap, they tried to retainth e waterfront parkway blocks and fell flat on their face and are still now trying to flog them to 1st home owners for dog box h&l packages. a real shame

 

[Ausprop]

FWIW - if you dont mind living down there, i think someone who bought some distressed stock and held it as a PPOR could do ok over the longer term

 

[Aaron Sice]

i still maintain shoalwater is the next boom suburb.

 

[Ausprop]

i still maintain shoalwater is the next boom suburb.

nice to hear...but why?

 

[Aaron Sice]

look at it's location!

trains, schools, shops, town centre, 3 beaches, arterial roads - it's got it all... in spades!