Perth – where to invest?

From what I can see the only lots left for sale in Seahaven are lot 1929, lot 1888 & lot 1889. As they don’t have the prices on them you would have to contact the sales office for further information.

ned kelly

Vacany down-prices up- WA Continues to grow..
[lmao]

Residential real estate in WA has entered a new growth phase, according to the June quarter 2005 market report by the Real Estate Institute of WA.

The real estate market in WA has not only resisted the interstate slow-down, the local market has actually stepped up a gear, said REIWA President Mr Greg Rossen.

“All sectors of the WA real estate market experienced strong growth in property values in the June quarter.

The June quarter saw a coming together of positive market influences, including continuing high levels of property sales to investors and first home buyers, and increased numbers of households trading up to more expensive locations.

“In the June quarter we saw a big increase in demand for properties in the higher priced end of the market, which has been lagging the rest of the market for some time.

“However the hottest markets were outside of the Perth metropolitan area, including Albany, Augusta/Margaret River, Bunbury, Mandurah and the Pilbara.

“Local and interstate investors hungry for affordable and high yielding properties, took a strong interest in regional WA in the June quarter.

“The main indicator of State real estate values, the REIWA median price of house sales in WA, rose 5.1% to $280,000 in the June quarter. The WA median house price rose 19.1% in the full year to June.

“The median price of house sales in Perth rose by 4.2% in the June quarter to $297,000. The annual rate of growth for Perths median house price was 16.5%.

“The median price of unit and apartment sales in Perth was $230,000 in the June quarter, which is 3.6% up on the previous quarter and 16.8% up on the previous year. The median price of inner city unit and apartment sales experienced a stronger growth rate, rising 4.9% in the quarter to $278,000.

“In regional WA the largest increase in median house prices occurred in Bunbury, rising 9.7% in the June quarter to $260,000. The annual growth rate for Bunbury was a staggering 39.8%.

“Other strong regional markets in the year to June, included Geraldton (median price $195,000 and 40% annual growth), Albany (median price $255,000 and 34% annual growth), Augusta/Margaret River (median price $366,500 and 32% annual growth), and Port Hedland (median price $287,500 and 54% annual growth).

“Land values also continued to grow in the June quarter, however the rate of growth in land values lagged behind the broader market.

“The median sale price of residential blocks of land sold in WA in the June quarter rose 2.2% to $138,000. The annual growth rate for the WA median land sale price was 16%. The Perth metropolitan median land sale price in the June quarter was $143,000 which is 10.9% up on the previous year.

“The WA real estate market continues to benefit from an exceptionally strong State economy, which is drawing in large numbers of interstate and overseas migrants.

“Western Australia also continues to offer some of the most affordable property investment opportunities in Australia.

“The are no signs of a weakening in the WA real estate market and there is enough positive momentum for the current strong rates of growth in property values to continue for the remainder of the year”, said Mr Rossen.

REDWING[thumbsupanim]

“Money is a currency, like electricity and it requires momentum to make it Effective”
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Midland is great, I know of brand new villas there in the low $200k mark.. Opposite a golf course.

There is defenitly great value in Perth.. Kinda like Qld few years ago..

Roy H.
L.R.E.A., Dip FS (FP)
Guardian Property Specialists (GPS)
http://www.gpsnetwork.com.au

Hi,

Looking at investing out of Perth – Lancelin, Bridgetown, Bunbury etc..

Anyone have any opinion on this?

Thanks, Mei

Hi, Is Innaloo on the down hill please, I thought it might go up with the new Innaloo Shoppi Centre and the closeess to Scarbrough Beach especially with the new beach development that is going down there. Plus Innaloo is close to the city or has it had its day.

I thought I’d add my two bits – this is a great thread and has given me some great ideas.

1)Balga and subdivide. Most of the properties I’ve looked at on line seem to be being sold with this in mind now! I’m no expert on subdivision, but a big block 11km from the city and not too far from the beach has got to be a good thing, right?

2)Buy more stuff in the Northern Beachside Suburbs (beachside isn’t going out of fashion any time soon). As I posted elsewhere, I’m a fan of Quinn’s Rocks and its surrounds. Maybe Yanchep is a go. I’ve even thought of Lancelin in the past, though haven’t checked that one out lately. Mindarie to the south is out of my price range, so it’s Quinn’s or somewhere even further from civilisation for me.

Keep the Perth suburb opinions coming!

Hi LizardKing
you will find that there is consistent evidence that all these inner city areas do well over the long term – regardless of doom, boom cycles

I have noticed recently that Mt Lawley prices are soaring you would need at least $650,000 to purchase a house which needs a reno unless purchasing a unit or on main road or on subdivided block.

I would also look at areas that are located near these inner city areas that may still be undervalued.

Regards, M

And it’s VERY close to the airport, too. Great for when you’re running late for the plane!

Seriously, is this an issue? I looked up what’s available after reading Ausprop’s comment, and the RE seems pretty cheap. Is this because you’re buying the Perth equivalent of the home from ‘The Castle’?

[cap]

Hi Mooki
Tuart Hill would be a great area to invest in for a number of reasons:

Close to city and shopping centres
Has lots of schools (private & public)
Good transport and facilities in general

Last stats (May) recorded median price at $299,000, neighbouring suburbs, ie Yokine, Joondanna are substantially higher. I would say that Tuart Hill probably represents good value at present.

I would be aiming to purchase house on large block and sub-divide/develop in the next property cycle.

If this is the way you are going make sure you contact local Council (Stirling?) to establish zoning.

Good Luck. M

It’d be easier to post where “not” to Invest in WA at the moment as everything is still going great..

My preference is for areas in Perth and I believe the reverse ripple will see benefits here, throw in possible interest rate rises higher fuel prices etc…

“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator