NKSK version 2

Well, there was an article in today's West Australian where one commentator suggested that Perth house prices could soon rival those of Manhattan and parts of LA...!

themerlin

Normally after such large Boom there is normally an even larger Bust!

You would be crazy to buy in Perth at the moment.

Amazulu

I'm confident about the market in Perth but not that confident! It's just another 'expert' trying to justify their position.

worzel

I didn't follow the logic in today's paper that said new home approvals are slowing which could herald an end to the boom . The slow down is due mainly to there not being enough land to build on rather than lack of people wanting to buy. And when demand is high and supply low then prices rise. That is basic economics.

Until China stops expanding rapidly the economy won't slow. But when it does eventually investors will pull out of WA and provide a glut of housing. That could be 5 years or 50 years away.

TrickyTree

But on the other hand you can be sat on your arse for years waiting for the bubble to burst and it may never happen. I know when I was selling my place in Nottingham 2.5 years ago the bubble was about to burst (allegedly) it was up for 89k (2 bedroom terrace) I keep a close eye on my old street and there is currently 2 properties for sale at 96k (1 sold STC). So 7k in 2.5 years does not indicate that the bubble has burst yet.

In the end you have to take the plunge or you spend 1000's on rent paying off someone elses mortgage.

jad n rich

Must have been the same guy that predicts brisbane and the gold/sunshine coast are the new Los Angeles . A laugh alright anyone whos ever tried to access the coasts on a long weekend or tried to get into brisbane on a work day could only dream of 8 lane highways

Vash the Stampede

I sold my Perth house before coming to the UK, and bought an investment property in Tassie at nearly half the price (thereby achieving equity of 60%).

I am now kicking myself, as I have recently discovered that the new owners sold my former house earlier this year for a 300% profit.

If I'd kept it and sold it today, I would have had enough money to be 100% mortgage free on my return to Australia.

How stupid do I feel right now?

rossfive5

We had our house valued last week and it has gone up by $120,000 in 5 months!! We don't want to sell, we were just curious. Nice to know, if the shit hits the fan financially, we have made a nice profit.

NKSK version 2

I am truly gobsmacked by how much people have 'made' here in Perth.
It makes the UK boom over 2001 to 2004 look like peanuts.

I'd be lying if I said that I wasn't a touch envious. But I just couldn't justify (and haven't been able to justify for the last 6 months) spending so much money on the rubbish which is for sale. I'd rather move countries (or at least states) where I'd feel that I was getting my money's worth.

If you were in the UK and you couldn't afford anything close to London, you'd need to move out to the suburbs or the outlying towns. But this wouldn't be too bad because there would always be an advantage - nearer to an airport, nearer to nice countryside, nearer to a nice town - Oxford, Cambridge etc, but in Perth, if you move an hour out of the city to the more affordable areas, what have you gained? Better access to the spinifex?

TeresaG

We've been keeping an eye on the house prices there in Perth. We aren't even considering moving there as it seems that everything is selling for such high prices at the moment.

Vash the Stampede

I take it you've never visited Mundaring, Gidgegannup, Sawyers Valley, Stoneville, etc.

Hectare after hectare of beautiful bushland in a peaceful, semi-rural setting and not a spinifex to be seen.