Australian Property Market

[Deirdra]

macbri, thanks for update. Will have a look next time I'm there.

 

[Stubby]

Hi everyone.

I am new to the board and just spotted this thread.
I bought a small off plan villa type property in Perth two years ago for $154,000. Overall cost inc stamp duty and settlement brought it to $162,000. The property beside mine sold six months ago for $300,000. A good return so far.

The market in Perth is still good, but with a noticeable slowdown. I could take profit now, but I am in for the long haul. I do expect prices to fall back, but there will be a new upside cycle to come, as always.

I am in the process of buying a second property, deposit paid, due for completion in mid 2008.

Anyone that wants info on the general West Australian market should have a look at http://www.reiwa.com.au/

Good luck.

Stubby​

 

[macbri]

Perth market has done very well in the last few years due of course to mining boom and resultant skills shortage bringing in high skilled & well paid migrants.

I remember when I arrived in sydney in 2003,Perthsiders telling me how cheap property was in Perth compared to Sydney.

How times have changed with Perth now the 2nd most expensive city in Australia and now less than 10% behind Sydney.

If the mining boom continues then your investment will pay off.