Are Brits pushing Up The House Prices In Perth
Dec 9th 2005, 10:46 am
#1
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Are Brits pushing Up The House Prices In Perth
Just a point for discussion, but as hopefully going to perth within the next 9 months I have been looking at houses to buy just to get an idea of whats available, seems to me that with lots of us going there we are possibly adding to the housing pressures as houses must be becoming scarce. All other areas, with the exception of Darwin seem to have levelled or are even falling. Thoughts please.
Dec 9th 2005, 10:52 am
#2
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Joined: Dec 2003
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Re: Are Brits pushing Up The House Prices In Perth
Brits account for 10% of Perth's population ...
Go figure ...
I doubt it, however the Brits do target the Northern suburbs and prices maybe affected there ...
Go figure ...
I doubt it, however the Brits do target the Northern suburbs and prices maybe affected there ...
Originally Posted by mickagnew
Just a point for discussion, but as hopefully going to perth within the next 9 months I have been looking at houses to buy just to get an idea of whats available, seems to me that with lots of us going there we are possibly adding to the housing pressures as houses must be becoming scarce. All other areas, with the exception of Darwin seem to have levelled or are even falling. Thoughts please.
Dec 10th 2005, 5:00 am
#3
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Joined: Oct 2004
Location: Carramar, Perth
Posts: 6,241
Re: Are Brits pushing Up The House Prices In Perth
Brits are definitely a factor but only a small part of it. The resources boom means engineers and the like are piling into the state from all over Australia and the rest of the world. I spoke to a recruitment agent this week and she has just moved west as her husband has got such a job, for example.
As a result demand is exceeding supply so prices go up. Also property investors moved out of the eastern states when the market stagnated and have been buying properties out west instead. They don't cover their costs with rent so it is the price increases they are chasing.
I did read (via this site) recently that now prices are reaching east coast levels investors are likely to pull out and invest in Tazzie which is cheap at the moment. Also the backlog of property builds should be caught up with in a couple of years.
So I am now in a dilemma between whether to break my lease and get into the market quickly as prices have been rising nearly 20% pa or sit tight and wait for the pressure to ease and prices to drop slowly like elsewhere.
As a result demand is exceeding supply so prices go up. Also property investors moved out of the eastern states when the market stagnated and have been buying properties out west instead. They don't cover their costs with rent so it is the price increases they are chasing.
I did read (via this site) recently that now prices are reaching east coast levels investors are likely to pull out and invest in Tazzie which is cheap at the moment. Also the backlog of property builds should be caught up with in a couple of years.
So I am now in a dilemma between whether to break my lease and get into the market quickly as prices have been rising nearly 20% pa or sit tight and wait for the pressure to ease and prices to drop slowly like elsewhere.
Dec 10th 2005, 5:27 am
#4
Joined: Aug 2003
Posts: 11,149
Re: Are Brits pushing Up The House Prices In Perth
Originally Posted by mickagnew
Just a point for discussion, but as hopefully going to perth within the next 9 months I have been looking at houses to buy just to get an idea of whats available, seems to me that with lots of us going there we are possibly adding to the housing pressures as houses must be becoming scarce. All other areas, with the exception of Darwin seem to have levelled or are even falling. Thoughts please.
