All Topics / General Property / Would u invest in Perth right now?
If you had approx $300k to invest, what State would you invest in? I know Perth has gone through the roof and still i’m hearing predictions that it’s got another 12 months of growth. Or perhaps it might be safer investing in Melbourne, Brisbane etc?
What’s your thoughts?
I’d be waiting just a little while to see what this second, and possibly third, interest rate rise will do.
I haven’t got a mortgage myself, but servicability on these mountaineous levels of debt people have got over here in WA has got to be increasingly difficult
– Interest rates up
– Petrol up
– Inflation on the basics (food) upSurely will have some effect on how those people pushed to the tilt will make ends meet. And if push comes to shove and properties are put on a less than ‘bouyount’ buyer market, we may start to see a few oppurtunities pop up.
I’ve got a friend who’s a real estate agent and went past his home open on the weekend, there’s just this slight feeling in the air almost that buyers are getting wary and taking step back.
For the first time in as long as I can remeber a house for sale in my area has also had it’s asking price dropped! Almost unheard of a month ago.
Anyways – just my two cents – please do not take this as advice in anyway, shape or form.[biggrin]
A few people have asked me the same question lately. I think there are opportunities all over the place – however, if you are the cautious type – I always say, wait a few good months after an interest rate rise, as more houses will more than likely come on to the market bringing prices down. Thats not being specific to a state, I know.
If I had $300k to invest – I would be looking at buying something I could sub divide or a small block of units. I wouldnt buy in a town that has just increased in value dramatically, but start searching the towns SURROUNDING them. If you use this principle, I dont think it matters so much about which state you are looking in.
Hope this helps, but its hard to give a specific answer without knowing your long term strategy…
cheersTD
In the last 2 months the Perth Property market has shown signs of “cooling” But IMHO the boom is far from over.
Still over 1000 Skilled migrants coming in every week and still little establish proeprty. If you do some research still many areas where you can make a lof of money.
In General, My current opinion based on which states I think are good value at the moment.
WA NO[skull]
Vic Yes[thumbsup2][thumbsup2]
Sydney – Not quite yet[juggle]
Queensland – Yes[]
Tas – No (wink, wink)[curtain]
NT – Around Darwin – Probably[cool4]
SA – Maybe[juggle]
Live, Learn and GrowLifexperience
If we restrict ourselves to 300K, then Perth IMHO is a definite no no.
That’ll get you some 1br flat in Mossie Park at best.
But….if you lift your horizons a tad, then Perth offers some absolute bargains. Scratching through some at the moment…..still looking at stuff with 7 and 8% nett yields after all costs with excellent land content.
But with 300K……forget it.
Probably need a couple more zeroes behind it I’d say. Haven’t checked in here for a while but looks like theres a few newbies come on in search of the holy +’ve CF grail but only to be enviously mesmerised by Dazz’s C/IP posts. How about throwing these guys a bone Dazz? I’m sure theres enough willing $300k participants to get a syndicate together and have a crack at even your sub 6% discards in this environment?
I would invest on the Gold Coast….always a good investment if you can afford it.
I bought land at $79,000
!10 years later , with a 5 bed house and pool on the land, it is now worth $610,000
I will never sell this baby
Cheers
TaigaI agree. Gold Coast and Sunshine Coast are a solid investment, but with 300 grand it will be difficult to find anything near the beach apart from maybe a 1bedroom. As for Perth, it might be a little difficult to negotiate a good deal as owners are on a high right now.
I would head over to Brisbane. For 300k you can still pick up a house within 12km of the city. Logan seems to be booming however look at suburbs like Sunnybank and Eight Mile Plains in the South……or Mount Gravatt and Holland Park a little closer to the city. If you plan on holding more than 5 years I would look at the towns surrounding the Sunshine Coast.
Brisbane will outshine Perth within the next few years. Increasing Population, low stamp duty (relative to N.S.W) and pretty good climate.
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