Perthforme

What are the house prices doing in perth?

there seem to be lots more onthe market and i feel prices are stable.

Is this the case I hope so !!!!

Coulterk

I have only just got here myself and have been looking at houses constantly. I can see that there is a flat line at the moment which has lasted for a month or 2. There is an interest rate increase on the cards and the market has been strong for some years now. As to what it will do next is anybody's guess. Much as I would like to say they will fall slightly as I want to buy, I think that the demand is still there and they will just contunue to rise.

Look on the http://www.realestate.com.au website for an idea on prices in each suburb.

There is also a website that I look at occasionally that tells you the growth in each suburb - I cannot find it at the moment so perhaps someone else can provide it?

Perthforme

Yeah realestate.com.au seems about the best web site.
report i saw in the west australian in nov said it would falt line in 2005 then nose dive in 2006
guess it cant keep going up with east coast prices on the way down for a while now, plus rate rise!
Did note though that prices seem higher on web than in local proprty papers?

steve99

Another useful site for historical trends etc by suburbs is:
www.reiwa.com.au
Real Estate Institute of Western Australia

The market seems fairly good at the moment compared to reports you hear from the Eastern States. WA was leading the housing Market a few months back ( and I would imagine it still is)
Prices arent increasing at the rates they were a few years back, but that was expected. The main thing is they havent fallen back , and in the more popular suburbs are unlikely to.
Even in this relatively flat period most of the higher priced Beach and river side suburbs will still see up to a 10% increase year on year. In my area pretty much everything ive seen come on the market in the past 2-3 months has sold within a few weeks.
There seems to be a fair number of people rellocating from over East and with their average house price being higher they seem to feed the beach and river suburbs. At the other end of the market there seems to be a constant streem of brits and south africans coming over, and they generally seem to head for the cheaper new housing communities in the Northern Suburbs so whereas these areas might of expected to go backwards a bit after the strong gains in the past few years they seem to be holding up well.

To the South of Perth, the Railway development seems to of boosted areas which will benefit from this infrastructure, once this is fully up and running (I think its the end of next year) prices may increase again slightly here as more people choose to move out to these suburbs.


Steve

ABCDiamond

I use this one: http://www.homepriceguide.com.au/snapshot/

Simone

www.reiwa.com.au is also very good, though technically a more annoying website. But nearly allways has the address of the suburb, and you can also click through to the estate agents website.


Yes, it seems to have slowed down, but I can't imagine the prices dropping, and I think they're going to keep rising(more slowly), because WA is still behind the most of rest of Australia, and the world.
But I don't know, I'm nowhere near an expert!!!!!!


EDIT: I wrote this post an hour ago, but got busy in between! I see there's been some other posts now!

Simone

And I'm hoping/thinking prices in the southeastern suburbs(CITY of Gosnells, Thornlie etc) will keep going up, because of redeveloptment and a new trainstation at Thornlie(spencer rd), and one proposed at Nicholson rd. Maybe this will one day turn into a whole new railline, maybe joining up with the Mandurah line!

walla

To the South of Perth, the Railway development seems to of boosted areas which will benefit from this infrastructure, once this is fully up and running (I think its the end of next year) prices may increase again slightly here as more people choose to move out to these suburbs.


Steve [/QUOTE]

southern suburbs are bucking the trend according to last weeks Sunday Times and the reason? Infrstructure. We are getting the new railway line in, there's talk of a new hospital at Murdoch (if labour get back in) and of course stage 7 of the Roe Highway..

suburbs bucking the trend were, Bull Creak, Willeton, Leeming and a couple more

Perthforme

I hope to be out there early 2006 and buy in northern burbs could be a good time to buy as they to will get more train stations in coming years.

Still anything is better value than uk