The following locations recorded the largest growth in median housing prices in the last 12 months:
Rank Suburb Growth %
1 Champion Lakes 94.40%2 Piesse Brook 54.10%
3 Jarrahdale 47.10%
4 Mundijong 44.10%
5 Karawara 38.20%
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Redwing
Champion Lakes – wow!!!
I know..rename part of a suburb and plan a stadium..instant $ $ $ $’s
I believe News is good for WA Investors with Rents increasing across the board (we’ve experienced it and our IP rents have increased of late)
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorJarrahdale/Piesse Brooke/Mundijong are suburbs of Perth now?
Cheers J
My “PERTH” UBD Includes everything from TWO ROCKS to North PINJARRA..guess they include everything within that boundary into Perth?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThanks for the info Redwing.
I question sometimes the detail of the data provided. If you dig a little deeper there is usually a factor that is swaying the figures so much.
*** Following figures quoted are real rough and straight off the top of my head…
I can remember a few years back Mt Claremont ‘looked’ like it was taking off like a rocket – recording consistent gains of 30 or more percent per quarter for about 6 or so quarters…
In reality, what was happening was the titles office (DOLI) was seeing transactions coming through for say $ 350K for a block. It then got built on with a nice $250K house and subsequently was sold off for say $ 700K 18 months later. That transaction went across the DOLI, and hey presto it looks like the suburb is appreciating 100%.
Now that most of the vacant land has been built on, the ‘real’ growth figures for Mt Claremont look positively pedestrian. The people who rushed in after the building must be sorely disappointed with their subsequent results.
I wonder if this “bare block to established suburb” phenomenom is what is skewing the figures again ??
Just a thought ??
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
Redwing / Marisa,
Could I ask you guys a favour…
When the figures for Q2 2005 come out and are published in the Saturday West Australian, (usually 2nd or 3rd week of August) could you please post them on here for me to view.
Where I’m at right now, there are no newspapers allowed, and the Prez (or the CIA – never know which) has shut down access to all Western media internet sites and especially anything to do with Western financial websites – banking sites particularly. Mr Bush and his foreign policies are not very popular, to say the least.
Because Steve’s site had “property” and “investing” in it, I was barred access to it as well for the past few days. SS forum was OK though, probably ‘cos it doesn’t have anything to do with money in it’s title ?? Had to fight tooth and nail to get access – special permission from the Information Ministry, but what I write is monitored….hmmm, can’t wait to get back to Perth.
Anyway, when the figures come out it’d be appreciated.
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
I’m sure between Marisa, myself and other Forum members we can do that Dazzling..
with your first post, interestingly enough; i had someone explain the difference between mean, mode and median to me in laymans terms..interesting..
They also said statistics are just a bunch of numbers looking for an argument..
This person loves SODUKO and Maths, playing with numbers and statistics..changing the weighting on different values can certainly vary the outcomes..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI saw a fascinating article a couple of years ago that attempted to disregard the effects of building and renovation such as Dazzling has described. The long term suburb winners were…..
Mt Lawley and Shenton Park.
But times do change and areas such as Anchorage didnt even exist back then so it is hard to compare apples with oranges.
http://www.megainvestments.com.auJohn Carroll
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