QUOTE(Soony @ Apr 29 2017, 10:41 AM)
The prices haven't picked up for quite a while, of course if its PPOR then it's alright. A lot of my colleagues would prefer to rent in an apartment and buy an investment elsewhere, due to,
1. A lot of businesses moving out from the city, showing that population growth in there will be quite stagnant
2. Tons of new apartments coming up, and sales records shows the turnover is extremely low, approx. 1 unit per apartment per 6 months? (Based on report from Westpac, which is already a few months old now)
3. You don't really own a piece of land, where most of the value is derived from
The above are just my 2 cents but if you see a future in it, by all means please go ahead.
value goes up when something is in short supply. In this case, land....
on the other hand, apartments can be easily added, just build higher....the only time when such properties will go up in value is when the area is max built up or inflation/building cost rise...(and even that is no guarantee, look at spore and their enbloc conversions of inner suburb flats)...therefore, in locations where there are still lots of opportunities for building upwards, ie most of oz city cbds and inner suburbs, expect prices to be stagnant due to abundant supply...
the properties that will go up in value will be landed properties in locations high rise is still not viable....so the middle suburbs (5-15km out)...outer suburbs may also not appreciate much due to supply (more land available the further you go out) and distance issues...
QUOTE(Soony @ Apr 29 2017, 10:42 AM)
Perth is still pretty alright with new estates going from 250sqm to 450sqm (or even bigger). I just bought mine at 350sqm, which is around 20km from the CBD.
Unless you are talking about strata (non-green titled) properties, then you are right, they are around 100-200sqm based on what I'm seeing in the vicinity of Perth CBD (approx 10km radius)
i am referring to entry level housing, in the brisbane context, will be the $half million properties...(that price will be different in different cities)....
for that money, you either get a 1 bed room cbd apt (50-70m2), or a 2 bed inner suburb apartment (80-100m2), of a 3 bed small landed house(150m2) in middle suburb , or a 4-5 bedroom landed house(200-250m2) on decent land in outer suburbs (>20km, in sydney/melbourne context, >40km)...
non entry level housing, the sky's the limit....up to your budget....
but then, if one is willing to pay more than entry level prices, one shouldn't complain then, no?....
This post has been edited by limeuu: Apr 29 2017, 02:44 PM