Some interesting information in the March 06 API magazine.
Louis Christopher of Australian Property Monitors said “Perths affordability levels are positive. Outside Hobart, Perth is the most affordable city to buy property”
Gavin Hegney from Hegney Property Valuations states “Despite the price rises, Perth’s still affordable. The average wage is $53,000 which is virtually on par with Sydney, but Sydney’s median house price is around $500,000 compared to Perth’s of just over $300,000, so it takes a lot less income to service a mortgage in Perth than in Sydney. So there is scope for prices in Perth to push higher”.
Based on this how can anyone say Perth is overvalued!!!!.
ned kelly
just heard that perth has moved up above brissy on median price now 3 rd on list brhind syd and melb.[thumbsupanim]
Originally posted by lukis p:just heard that perth has moved up above brissy on median price now 3 rd on list brhind syd and melb.[thumbsupanim]
The figures are trailing indicators and seeing the amount of growth we’ve seen again between Sept 05 and Mar 06, I’d say it has now tipped above Melb.
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