Perth house prices forecast to fall

by joy.manginsay 30. December 2011 18:40

The State Government has forecast that Perth house prices will fall by about 2.2% but return to steady growth by 2012-2013. “House prices in Perth have been falling since the march quarter 2010 and the number of dwellings sold remain at a very low level, consistent with heightened level of consumer evident over the past year, “ the review states. The 2.2% drop in the house prices will be the increased stock level and financial market is not really stable. Because of the global financial crisis, weak housing market and the loss of consumers’ confidence, these are the reflection in the housing market that many has concluded that house prices will really fall.

Despite on all negative outlooks about the housing market, State Treasurer Mr. Porter said that the government was expecting rising incomes, stronger household balance sheets and population growth to boost house prices in 2012-2013 and beyond.” We will have recovery to house prices if investors and home buyers will enlarge their property portfolio, have possible outlook and the government must come clean about the true costs of key projects for the state. According to the budget review, Perth prices are expected to grow 6% in 2012-2013, 5.8% in 2013-2014 and 5.5% in 2014-2015.

New House Now a Luxury?

by joy.manginsay 28. December 2011 18:19

According to Nathan King, a property valuation director at LMW Hegney, “Building a house is possible now almost a luxury in Perth whereas before the global financial crisis it was considered a necessity.” The least expensive suburb was Medina with median price $230,000 and the “rising star” suburb was Martin with 13.9% growth. Past three years before GFC, Perth was producing twice as many houses and green-title lots as strata-titled properties. Whatever the reason, the new trend of Perth now reflects the normal property cycle and it will be the most affordable housing options available.

Nathan King suggests that, WA’s changing demographic, reducing commuting times, well located strata properties and providing in many circumstances a lifestyle on the doorstop. King concludes also that it’s always worth being aware of market trends and even better if you can benefit from them. For investors who can recognize the trend of population and in an investor’s profit, this we considered a trend in order to be desirable as people free up capital. When a suburb has affordable first homes, demand will increase with drive values and it will give a reason to increase the supply if the supply is limited.

Additional Houses in Perth Portfolio

by Joy Manginsay 30. November 2011 18:40

The 4Land Property Group, well known for their ability to identify trends in the Perth house and Land Market with release of Stage 4 of Natures Walk Mandurah, and the new stage 4 consists of 16 lots with lot sizes range from 287sqm to 379sqm. According to Spokesman for the Group, Project Sales Manager, Dave Gillon says, “the expansion of this popular development reflects a growing optimism within the Perth Property market, particularly in the city’s southern corridor. “We have found that the Mandurah area is particularly attractive for people working in Perth’s southern suburbs, first-home buyers, down-sites, he added.

For commuters, fast and rail access to the city and provides certainty and developers encouraged to move forwards because it makes Mandurah land purchases a real alternative to other house and land packages Perth has to offer. To make the well-planned growth area, it should have affordability and lifestyle benefits and have global recession. High quality of houses, nature attractions area and have easy means of transportation encourage investors and home-buyers to invest and we will gain positive feedbacks to encourage more investors and home-buyers.

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