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Perth property seen as good value for interstate real estate investors
Topic Started: 8 Oct 2015, 02:06 PM (1,714 Views)
Mike
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http://www.perthnow.com.au/realestate/news/perth-wa/perth-property-seen-as-good-value-for-interstate-real-estate

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INVESTORS priced out of Sydney and Melbourne are expected to start looking to Perth as advisers dub WA one of the top buyers’ markets in the country.


While interstate migration to WA has slowed dramatically, industry figures say property investment has remained strong and is expected to grow in coming months.

Perth has more than 19,000 properties listed on the market, forcing a price drop of $20,000 in the June quarter to a median of $525,000, according to CoreLogic RP Data figures.

Across the country, Sydney’s median price has risen by more than $100,000 to $1 million in the past 12 months, and Melbourne is not far behind with an rise of more than $60,000 to $671,000.

But investment expert and Momentum Wealth managing director Damian Collins said with Sydney’s bubble expected to burst, investors would get better value for money in WA.

“While the temptation is to follow the herd, it’s much better to buy when the market is in a low of its cycle,” Mr Collins said.



It is certainly a lot cheaper then Sydney or Melbourne and looks set to get cheaper still.

I don't know about interstate investors but I just sold a property to a Chinese buyer, currently with FIRB but should be no issue. Property is in Perth so Chinese buyers are active.
http://mike-globaleconomy.blogspot.com.au/
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Veritas
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Mike
8 Oct 2015, 02:06 PM
http://www.perthnow.com.au/realestate/news/perth-wa/perth-property-seen-as-good-value-for-interstate-real-estate




It is certainly a lot cheaper then Sydney or Melbourne and looks set to get cheaper still.

I don't know about interstate investors but I just sold a property to a Chinese buyer, currently with FIRB but should be no issue. Property is in Perth so Chinese buyers are active.
That’s the latest marketing angle alright. All the other angles are looking quite lame what with the economy and migration tanking.
Buy now! The Chinese are coming!
You never know though, maybe Chinese hot money will flood into Perth while the relevant Governments stand idly by.
This system is not designed to put roofs over people heads after all.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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Terry
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Mike
8 Oct 2015, 02:06 PM
http://www.perthnow.com.au/realestate/news/perth-wa/perth-property-seen-as-good-value-for-interstate-real-estate




It is certainly a lot cheaper then Sydney or Melbourne and looks set to get cheaper still.

I don't know about interstate investors but I just sold a property to a Chinese buyer, currently with FIRB but should be no issue. Property is in Perth so Chinese buyers are active.
Chinese people love Perth. Everyone knows that. And the bonds between Perth and China are deep because of the mining boom.
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newjez
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Terry
8 Oct 2015, 02:18 PM
Chinese people love Perth. Everyone knows that. And the bonds between Perth and China are deep because of the mining boom.
Sarcasm does not become you.
Mike
8 Oct 2015, 02:06 PM
http://www.perthnow.com.au/realestate/news/perth-wa/perth-property-seen-as-good-value-for-interstate-real-estate




It is certainly a lot cheaper then Sydney or Melbourne and looks set to get cheaper still.

I don't know about interstate investors but I just sold a property to a Chinese buyer, currently with FIRB but should be no issue. Property is in Perth so Chinese buyers are active.
I nearly pissed myself laughing At this. Funniest thing I've read for ages.

Hell, Perth property is looking cheaper compared to wherethefuckisthatistan. I'm worried all the wherethefuckisthatistanis will come over and buy all the Perth property. They won't live there cos there's no jobs, but they'll buy all the property.
Edited by newjez, 8 Oct 2015, 04:23 PM.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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John Frum
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Terry
8 Oct 2015, 02:18 PM
Chinese people love Perth. Everyone knows that. And the bonds between Perth and China are deep because of the mining boom.
They certainly are a thing of beauty, these trans-pacific love affairs.

Just look at the deep bonds forged between the booming hotbed of political corruption that was late 80's Brisbane and the cashed-up property hungry Japanase. Still going strong today, as evidenced by the abundance of ... er, take-away sushi bars. :wak:
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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SittingOnDeFence
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The article has been removed?
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John Frum
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SittingOnDeFence
9 Oct 2015, 10:12 AM
The article has been removed?
Try this:

http://www.perthnow.com.au/realestate/news/perth-wa/perth-property-seen-as-good-value-for-interstate-real-estate-investors/news-story/4ddf37492e32f51500d9e6d1231e3d5e
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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Terry
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John Frum
9 Oct 2015, 10:29 AM
Interesting article. The 25-year-old Donny Trump clone with the puppy have invested in 2 properties 50 km from the CBD on some kind of new housing estate. His parents must be proud that the media is seeking him out as representative of opportunity.
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newjez
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Terry
9 Oct 2015, 11:58 AM
Interesting article. The 25-year-old Donny Trump clone with the puppy have invested in 2 properties 50 km from the CBD on some kind of new housing estate. His parents must be proud that the media is seeking him out as representative of opportunity.
He already owns two properties in Sydney. How the fuck? Four properties at 25?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Terry
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newjez
9 Oct 2015, 12:25 PM
He already owns two properties in Sydney. How the fuck? Four properties at 25?
Yeah, so it's likely that he's not much more than a puppet--works in construction and invests in new subdivisions. Clear as crystal.
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