Hi all
I have been pondering a few things re Perth property market at present, I would like some comment, stats etc on my ponderings.
1. perth market has gone quiet.
2. more properties on the market ( normal amounts by REAs)
3. props taking average of approx. 70days to sell (REA say normal)
4. gov’t making changes in tax’s (stamp, land etc) annoucements may
5. 1st home buyers think they cannot afford to buy. Therefore have left the market.
6. investors selling to finalise profits and or to put $ into super.So due to all of the above I have been wondering the following:
1. what % of props on the market are investors – % normal movement?, % selling to put into super?, % selling due to quiet times to invest elsewhere (fleeing with their profits)?
2. What will happen to the no. for sale once the investor sell? As I think that there is a larger no. than normal of investment prop for sale due to super etc at the moment. will there be another housing shortage?
3. what changes to stamp duty, land tax, 1st home buyers grant will the gov’t make?
4.will there be a mini boom due to the govt tax changes
5. how quickly will it take financial institution to introduce new mortgage products – 40 yr loans / equity share arrangements. ( I think unafforability will only last a little while as financial institutions will come up with new products to help with this issue – as Steve says find a problem and fix it)
6. Perth has a drastic shortage of workers – every where you go there are signs out for staff.
7. Interest rates up, down or flat.
8. the govt is looking overseas for teachers, so I guess are a lot of other companies, so what are the predictions for immigration?
9. and of course what will happen with the stock market and how will that effect the property market?any way thats a lot of ponderings any one got the answers.[blink][blush2]
Celeste
Hi Celeste, I’ve been pondering too. My thoughts are first home-buyers areas (with houses around $350k) are worth considering. Maybe Southlake(relatively close to freo & Rockingham ), Beechboro(close to swan valley, renters in Bassendean getting forced out to Beechboro due to shortage of properties, + higher rental return), Clarkson, Ellenbrook(good depreciation,high rental returns, excellent new schools and community feel), Gosnells, Thornlie, surrounds of Mandurah/Scarborough, or suburbs that are increasing their zoning. I’ve just purchased in Brisbane and feel it will outperform Perth. I still feel Perth will rise a little and there are area’s that will outperform others. Regards, Linda
when you put your money into ‘super’ do you think that means putting money into shares? to sell a Perth property prior to the stamp duty cuts when it is generally accepted that the market will come back to life and into a choppy and possibly topped out stock market could produce very disappointing results.
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