What do you think will be the best Capital City for growth/less affected by downturn?
- Thread starter INVSTOR
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Hi MTR
I am very happy to hear that....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?
Here's just one link that should tell a bit of the story behind it all. Maybe you are listening to Koshie too much...?
Oh, and I agree Syd has started the next cycle.
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Hi MTR
I am very happy to hear that....
Also can you define "strong" or do you mean "stronger...?"
can you provide links to support your statement?
Thanks Fence for posting the link on Perth market.
Hi Virgo
What I can tell you is I have purchased 3 properties in Perth over the last 6 months and they have risen by about 20% and still rising. Stock is so low at the moment.
I also purchased a property last week (development site), 1 offer before it hit the market, prior to this 8 offers on another property day 1 on the market, BTW make sure its cash if you want to beat your competition.
Developers, FHB and investors are jumping into the Perth market, I am told that 12 months ago you could purchase development sites easily now they are so difficult to secure.
In this market buyers are offering above asking price. Not all areas are booming, but there are real hot spots generally close to the city, areas which are gentrifing, council rezoning, development sites.
Tell me more about Syd market, also interested in the Newcastle area
There is absolutely no mention of Perth in that article except for it's line on the graph along with the other capital cities.
Clearly since the low of 2012, it is Sydney leading the way with Melbourne and Perth following on closely.
Obviously Perth is sounding quite hot ATM and may easily take over the reins in this next phase, and rightly so as that is where all the action is for now it seems.
Interesting to note the Perth line on that chart showing only slight growth since 2007 compared to the rest...? Got some catching up to do according to that chart and we could safely say that is underway right now according to annectdotal evidence reported on here.
Good luck to you guys in the West (of Australia that is
), hope it is sustainable growth and sets a new benchmark for you.Answer is?.. Darwin has been increasing for the past 10 years now with only a short 1 year downturn, it's increased on average 15% since then, although I will say that my units have stayed at the same value for the past 3 years or so while rural has performed best and houses second best. Don't invest in a unit in Darwin is my best advice, pretty well anything else will make you money, and probably pretty quickly, too
Houses have risen by around $100k in the past couple of years, rural by double that, and rural doesn't seem very far from town like it once did.
Houses have risen by around $100k in the past couple of years, rural by double that, and rural doesn't seem very far from town like it once did.
I cant see it "booming" as was the case in 2004. But now that prices have finally passed the median peak set back in 2007 i think we'll see a couple of years of 5-8%.Good luck to you guys in the West (of Australia that is
here here, I totally concur with these comments.
I feel pretty safe having my money in WA
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how come ?
Canberra is humming along nicely at the moment. Has been a definite price rise in the suburbs I've been watching. Also noticed less stock available (both to buy and rent).
Of course the election result is likely to have some impact on the market here, so just waiting to see what happens.
Of course the election result is likely to have some impact on the market here, so just waiting to see what happens.
In relation to the rentals Nemo.... Do you think that would have anything to do with the uncertainty in the market given possible shift of government with the upcoming election?
Jack
Not sure. I work in the public service and no one I know is particularly concerned about job cuts.
Houses are still selling quickly in this area - perhaps the renters are buying.
I watch the west Belconnen market quite closely. When I wrote my initial post a couple of months ago there were 4 houses for rent in a particular suburb - yesterday there were 14 and some have been there a couple of months. I know the time of year makes a difference, however it still seems very high.
The rent they are asking for 3 and 4br houses has dropped about $20 - $30pw compared to this time last year and even then they aren't moving quickly.
There is absolutely no mention of Perth in that article except for it's line on the graph along with the other capital cities.
Clearly since the low of 2012, it is Sydney leading the way with Melbourne and Perth following on closely.
Obviously Perth is sounding quite hot ATM and may easily take over the reins in this next phase, and rightly so as that is where all the action is for now it seems.
Interesting to note the Perth line on that chart showing only slight growth since 2007 compared to the rest...? Got some catching up to do according to that chart and we could safely say that is underway right now according to annectdotal evidence reported on here.
Good luck to you guys in the West (of Australia that is
Perth still strong market but perhaps it will go sideways for a while, not sure, still some great buying opportunities in particular if you are developing.
Sydney clear winner at the moment, I hope you guys are in for a "mother boom", that's great. Go you beautiful thing
I bought a couple in Brissy this yr-wish I bought more. The market has been moving quite strongly in last few months and its becoming increasingly hard finding value within the 15km ring.
Sydney is hot, maybe too hot, Brisbane is slowly getting that way. Have no idea where to buy next in the sub $400/500K range.
Sydney is hot, maybe too hot, Brisbane is slowly getting that way. Have no idea where to buy next in the sub $400/500K range.
I'll probably live to regret it but Tassie's a bit too left field for me. And if you believe the media, the economy is going from bad to worse down there.
I was thinking Adelaide or Canberra but my research suggests its a heated market down there too. Damn 5% interest rates. Can't live without it, can't get ahead with it.
I was thinking Adelaide or Canberra but my research suggests its a heated market down there too. Damn 5% interest rates. Can't live without it, can't get ahead with it.
I agree. I think some south side Bris suburbs 18-25k's may be worth thinking about. I don't think they are too hot just yet.
