What do you think will be the best Capital City for growth/less affected by downturn?

Which capital city will have the most growth/less affected by a downturn?

  • Perth

    Votes: 73 23.5%
  • Brisbane

    Votes: 50 16.1%
  • Darwin

    Votes: 13 4.2%
  • Canberra

    Votes: 16 5.2%
  • Melbourne

    Votes: 16 5.2%
  • Hobart

    Votes: 2 0.6%
  • Sydney

    Votes: 106 34.2%
  • Adelaide

    Votes: 13 4.2%
  • A mining town

    Votes: 5 1.6%
  • A country town (near a mining town)

    Votes: 8 2.6%
  • A country town (NOT near a mining town)

    Votes: 8 2.6%

  • Total voters
    310
  • Poll closed .
Perth listings now down to 12,888 and probably at balanced market levels.

These listings have been steadily decreasing every week for the last couple of months.

I think the upswing is well a truly underway.

This won't be confirmed until the end of July (I think) when the June quarter results come out. By then it'll probably be too late to take action at the bottom of the market. That probably occured in the last month or so.

Intersting to see that almost 3 months to the day there are now 10,048 listings. All indicators lead me to believe that the Perth recovery is now underway.
 
I've voted for Sydney. The last 3 months have been going crazy here (in the Hills). Most properties are getting sold at or before the first open (price $550-750K). Some are being listed for the first time with "under contract" on them. I went to an open home yesterday with 50 groups.:eek: I had to line up and wait to get in. It was marketed as offers over and was on the money I thought. They had offers on the day of $20K more than list price. Last week one open had 37 groups.

Just to clarify, this is projected POPULATION growth, not property value growth.

I looked at Umina and Woy Woy for an IP, we wanted positive cash-flow with (modest) prospects for capital growth. Many properties there are selling for LESS than they were bought in 2003.

Some friends of ours have a unit near the beach (at Ettalong I think) they bought 2 years and need to sell (actually owned by mother in law who has just gone into aged care). There are a couple of other units in the same block that have been on the market for 6 months at a price less than they bought for. Not good. Yield is pretty poor too so not worth keeping to rent as investment.

Sounds like a good time to buy to me.
 
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Sydney

Hiya

I too am finding it very difficult to buy at the lower end of Sydney...stocks level seem to be very tight....

Had a real estate agent called me yesterday to ask whether i am interested in selling my IP in Penrith....i nearly choked as i asked her whether she knew it was her agency managing it for me...she replied "Yes" in fact it was her boss who suggested it!:eek:
 
I've voted for Sydney. The last 3 months have been going crazy here (in the Hills). Most properties are getting sold at or before the first open (price $550-750K). Some are being listed for the first time with "under contract" on them. I went to an open home yesterday with 50 groups.:eek: I had to line up and wait to get in. It was marketed as offers over and was on the money I thought. They had offers on the day of $20K more than list price. Last week one open had 37 groups.

Yep the spring season + FHB feeding frenzy has certainly annihilated stocks in popular suburbs in the hills. Even the crappy houses on busy roads are being snapped up as people are desperate to get their $7k subsidy and are willing to pay a premium far greater than $7k to secure it. I am sure it makes sense in their minds somehow.

Give it a few days travelbug as today is the last day of the FHBG.
 
Yep the spring season + FHB feeding frenzy has certainly annihilated stocks in popular suburbs in the hills. Even the crappy houses on busy roads are being snapped up as people are desperate to get their $7k subsidy and are willing to pay a premium far greater than $7k to secure it. I am sure it makes sense in their minds somehow.

Give it a few days travelbug as today is the last day of the FHBG.

I'm not buying, But will be selling next week. Not many first home owners can buy in the $700K+ range so I'm not worried. We have a few prospective buyers lined up already.
 
There haven't been any responses to my query above about Melbourne/Victoria decreading in values.

Here is a follow-on question: What do you think about Victoria Rd Abbotsford? Following is a quote from an NRAS email i received today.

Abbotsford in Melbourne is a blossoming suburb, enjoying the ripple effect as rapid increases in capital growth spread from popular nearby suburbs of Fitzroy, Collingwood, and Richmond.

This means that Abbotsford is expected to increase in value at over 9% p.a. over the next 5 years! That's more than four times the Melbourne metropolitan average!

The suburb's popularity is reflected in its miniscule vacancy rates, currently at 0.6% and falling!

This development, which is hot off the press, is ideally located on Victoria Street just 6 minutes by car to the CBD, and features a tram on its doorstep that runs directly to the city centre....
 
Abbotsford in Melbourne is a blossoming suburb, enjoying the ripple effect as rapid increases in capital growth spread from popular nearby suburbs of Fitzroy, Collingwood, and Richmond.

This means that Abbotsford is expected to increase in value at over 9% p.a. over the next 5 years! That's more than four times the Melbourne metropolitan average!

ask them to commit to that growth in writing if they are so sure??
 
Abbotsford in Melbourne is a blossoming suburb... is expected to increase in value at over 9% p.a. over the next 5 years! That's more than four times the Melbourne metropolitan average!

Is that 9% every year for 5 years, or 9% over a period of 5 years?

9% every year for 5 years = over 50% growth.
 
There haven't been any responses to my query above about Melbourne/Victoria decreading in values.

Here is a follow-on question: What do you think about Victoria Rd Abbotsford? Following is a quote from an NRAS email i received today.

Abbotsford in Melbourne is a blossoming suburb, enjoying the ripple effect as rapid increases in capital growth spread from popular nearby suburbs of Fitzroy, Collingwood, and Richmond.

This means that Abbotsford is expected to increase in value at over 9% p.a. over the next 5 years! That's more than four times the Melbourne metropolitan average!

The suburb's popularity is reflected in its miniscule vacancy rates, currently at 0.6% and falling!

This development, which is hot off the press, is ideally located on Victoria Street just 6 minutes by car to the CBD, and features a tram on its doorstep that runs directly to the city centre....

Angel, have you followed up with your interest in this project? I work on this site and I would suggest that you go and check it out before buying. Pay particular attention to the neighbours.
Assuming its the development in Victoria st I am at it is a pretty nice development compared to the other options out there
 
This survey is proving to be very close to what is happening, Syd and Perth are the strongest markets at the moment :)
 
Strong?

Hi MTR

I am very happy to hear that....:p as most of my IPs are in Sydney

Also can you define "strong" or do you mean "stronger...?"

can you provide links to support your statement?
 
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