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Top 10 Buyers’ Market in Perth (Part 2)

In the second part of this blog, we touch on what the market players say about some of the suburbs listed in the Top 10 Perth Buyers’ Market List. These include top personnel from Properties Invest, Perth Property Partner, Harcourts Vogue, LJ Hooker and Midland Real Estate Plus. As we say, there are some upsides to the softening of the market!

 Click on the icons in the map above to learn the locations of these areas and their proximity to Perth’s Top 3 universities.

PERTH’S TOP 10 BUYERS’ MARKET LIST

  1. Beeliar
  2. Southern River
  3. Midland
  4. Piara Waters
  5. Harrisdale
  6. Burswood
  7. Jane Brook
  8. East Perth
  9. Spearwood
  10. Coogee

Source: Realestate.com.au

 

The top markets for negotiating is calculated using supply and demand rations, average discounting and days on the market.

Beeliar

A good opportunity for owner-occupiers.  Fantastic location as it is close to Fremantle, Murdoch University, Coogee Beach etc, but further out from Perth city area.  Softening of prices noticeable in homes in the A$500,000 and under category but there has been a slight pick-up in recent weeks.

Southern River & Harrisdale

Good opportunity for owner-occupiers. An extension of Canning Vale, the most Malaysian-populated suburb in Perth.  The market in Southern River has softened and may possibly continue for some time. Harrisdale is a decent area, close to an older established area that is being built out.

Piara Waters

An extension of Canning Vale, the most Malaysian-populated suburb in Perth. Good location because closer to the freeway and the facilities associated with the growth in the Southern Corridor of Perth.

Midland

The suburb has shown strong growth over the years because a lot of money has been spent on it. It is the link between the farmers and the city; farmers prefer to stop at Midland rather than go all the way into Perth as Midland has everything they need. The state government is also redeveloping the area with new hospitals and schools and moving some of the public service operations out there, so there is more growth to come.

Coogee

The state government is injecting a lot of money into the area. Land in Coogee Marina that was bought for A$3.2 million at the top of the market can be bought today for A$1.5 million.

Spearwood

Spearwood presents the best investor opportunities, even though it is ranked at no. 10 on the list. Historically, this suburb has done very well in long-term capital growth. It also has a number of old ‘60s and ‘70s style houses on development sites.

CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260

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Top 10 Buyers’ Market in Perth (Part 1)

Perth Yacht Club, Fremantle

There are upsides to the softening of the property market in Perth.

IT’S a buyers’ market now in several areas in Perth, including Beeliar, Southern River and Piara. With increased supply of newbuild apartments and houses, buyers can now haggle over pricing and purchase property at below replacement costs.

News.com.au recently published a list of Perth’s Top 10 Buyers’ Market allowing property hunters to negotiate on pricing.

 

PERTH’S TOP 10 BUYERS’ MARKET LIST

  1. Beeliar
  2. Southern River
  3. Midland
  4. Piara Waters
  5. Harrisdale
  6. Burswood
  7. Jane Brook
  8. East Perth
  9. Spearwood
  10. Coogee

Source: Realestate.com.au

That said, the Commonwealth Bank CoreLogic Home Buyers Index suggests that while there is still a continued high level of discounting, demand at Perth is at an equilibrium – a situation with implications that is described as “good” by Commonwealth Bank general manager of home buying, Dan Huggins.

This is because, with more new developments on the market, rents will start to fall and the fluctuation cycle is inevitable. Property valuer and commentator Gavin Hegney explains it best:

“There are always fluctuations, but when it’s truly not a buyers’ market any more you’ll see listings down, you’ll see a lot more sold stickers on signs, rents will improve and values will have lifted more than 5 per cent. But as a buyer, you don’t want to wait until it’s obvious the market has turned.”

As all property markets go through a cycle, it may work to a buyer’s greatest advantage to get into an area that might temporarily be in a low, but popular in the long term.

Read on here: http://bit.ly/1k6fkcH

Part 2 of this blog posting will cover some of the suburbs listed in the Top 10 Perth Buyers’ Market List. Watch this space!  

CSI Prop proudly promotes international investment property with high yields at low risk. Our portfolio comprises residential and purpose-built student property in cities across the United Kingdom (London, Luton, Manchester, Liverpool, Newcastle, York, Glasgow, Scotland; Sheffield, etc); Australia (Melbourne, Perth, Brisbane) and Thailand (Bangkok). Our projects are concentrated in high-growth areas with great educational, infrastructural and job growth potentials. We aspire to make a difference in the lives of our clients by helping them achieve their investment goals through strong market research backed by third party experts and due diligence. 

Disclaimer: CSI Prop does not provide tax & legal advice and accepts no liability. Readers are encouraged to consult a qualified tax or legal advisor for a thorough review.

Need advice or clarification? Call us for more information and/or to find out about our projects! Hotline: 03-2162 2260