webgum

This is what we are considering. Our house in the Uk is safely tenanted (for now) so we are considering an apartment as investment to get the proverbial foot in the door.

Stressful huh!

NKSK version 2

It could be but I think the biggest stress is finding somewhere to rent in Perth that you are happy to make your home long term. Once you have achieved this (and navigated around the real estate sharks), then you get the breathing space to figure out what to do.

Don't forget that if the market does rise say 15% this next year (I don't think it will but I have nothing other than gut feeling and the patterns shown over the rest of Australia to go by), followed by say 3% a year for the next two years after then this gives a simple (rather than compound) rise of 21% over three years. There are other investment vehicles where you could get something not too far behind 7% per annum (we've achieved 15% per annum just with unit trusts over the last two years) - minimising the difference between what your savings would be worth and what the potential property would be worth.

These figures are obviously hypothetical and they could be an over or under estimate but they serve to show that panic buying into the market might not necessarily result in the gains over the next few years through property price increases compared with the next best alternative.

janeyray

Aussie friends of ours bought their land (850sqm) for $61,000, built their property and have just sold it for $290,000. I think they sold at the right time.

I remember that she had to sleep overnight in her car to be one of the first in the queue when the land was released for sale...bet they don't do that now!!?

worzel

True but while the west coast got some high tides from the big tsunami it didn't get anything worse. I would be more worried about things that are more likely to affect house prices like freeway extensions, rescessions etc etc etc

worzel

Fair play, I wouldn't dream of knocking anyone for their choices, but personally I was ver happy to ditch links to the UK and feel more committed to Australia.

bal56

Renth, I think the tasteful green changing rooms on Beaumaris school oval are going for about $300k right now. Invest in bricks and mortar near the sea - you know it makes sense! You could even demolish them and build a two storey with 'ocean glimpses' between Dewsons and Blockbuster!

webgum

In the end we chose a rental property that is in a gorgeous area, is big, has a pool, plenty of room for guests, walking distance to shops and restaurants, 10 minutes walk to beach but we compromised with the actual look of the house. But we are renting with two young children and a dog, so...... it suits us. I do get a little green eyed when I go to friends house's tho'.

We have decided that panic buying (and selling) is not for us, so will watch the market and decide in the next 12 months what to do.

renth

They certainly do, people were camping out for a number of recent land releases in the northen Perth suburbs, for really small blocks.

The property developers have realised that they can get just as much for a smaller block as they used to get for the traditional quater acre. Money for old rope I say.

janeyray

Blimey thought that may have been a thing of the past!! Pricey too I bet!

renth

I think one of the places was Brighton. I can't remember the prices but it's still over $100,000 for a small block.

Nothing like Harbour Rise here are the latest prices for some blocks, INSANE :

450sqm $525,000 - Right on the Front, opposite “A” Class Reserve
600sqm DUPLEX $595,000 - Great Value
859sqm $690,000 - Views over Marina Enter off Barbados
450sqm $410-$449,000 - Quiet Way OFFERS COSIDERED
451sqm $550,000 - Beachfront
450sqm $560,000 - Beachfront
450sqm $560,000 - Beachfront
451sqm $550,000 - Beachfront


http://www.harbourrise.com.au/land.htm

renth

Here's a Harbour Rise bargain you wouldn't want to miss:

"This has to be the best value for money in Perth.:"

353 Sqm - $560,000

http://www.realestate.com.au/cgi-bin...=&fmt=&header=

janeyray

That was waste land when we left, I think they were just about building on the plot above this part. Looks lovely though

lynnj

[QUOTE=renth]I think one of the places was Brighton. I can't remember the prices but it's still over $100,000 for a small block.

Nothing like Harbour Rise here are the latest prices for some blocks, INSANE :

450sqm $525,000 - Right on the Front, opposite “A” Class Reserve
600sqm DUPLEX $595,000 - Great Value
859sqm $690,000 - Views over Marina Enter off Barbados
450sqm $410-$449,000 - Quiet Way OFFERS COSIDERED
451sqm $550,000 - Beachfront
450sqm $560,000 - Beachfront
450sqm $560,000 - Beachfront
451sqm $550,000 - Beachfront


The last Brighton release which was for blocks in Ridgewood saw people camping out for 5 days before the release. 600sqm blocks were selling for $150k. all the blocks were gone by the time the people who had camped out for 2 days hit the front of the queue. 2 years ago you could have bought a 4x2 in Ridgewood for $150k.

Lynn

janeyray

[QUOTE=lynnj] This has got to be the cheaper option to buying an already established house as the prices for those really seems to have shot up? Although I think it's taking the builders longer to build them than two years ago?

movetoperth

[QUOTE=janeyray] $150k for your land plus at least the same again for your build plus finishing costs......... factor in the rent you pay while you are building and there probably isn't much in it.

Lynn