Don't forget the foreign investor perspective. Perth is a popular investment destination for foreigners, and you see that in marketing that's done abroad (London and Perth are super hot now) by real estate companies like JLL. For Australia, Perth is especially attractive because of stamp duty waivers and there not being any land tax surcharge.
Perth has turned a corner for the first time (since the pandemic ). The population explosion in Perth has very little to do with mining . Interstate and international migration is at an all time high .It's a very diversified economy now and not just dependent on iron ore , I have had 2 friends that have moved to Perth from Sydney and Melbourne in the last 3 years , one works in infrastructure and the other is a tradie. I visited Perth last year and the city is unrecognisable from my previous visit 6 years ago .. And there is a chronic shortage of houses that won't change much in the next 3 years as there is nothing in the pipeline . Will not suprise me if Perth's median house price is higher than Brisbane and Melbourne in 5 years from now
Backing the area where you have skin in the game. Hence why it's Perth for me. Also, the Perth market is moving further from being strictly tied to the commodities market. Especially over the next 10 years as we enter a more globalised market. Coastal properties remain the top-performing areas, thankfully with 150km north-south coastal strip top choose from there will be plenty of great performing homes and areas in Perth over the short, medium and long-long term.
Hi Luke. I’ve been following for a while and really like your investment strategy. It resonates with me. My husband and I bought a very run down place in Perth in early 2020 in an area 15 minutes from the CBD, 3 minutes from the Swan River and 5 minutes from the beach, and by virtue of the growth in the Perth market and our “sweat equity” as you call it, the property has increased in value by almost $300k. We want to use that equity to purchase another home which we will move into and rent out our current home. I’d be interested to know your thoughts generally on the numbers in situations like ours where the choice is hold onto house number one or sell to reduce mortgage on house number 2. It seems a lot of my friends in the Perth market have sold up and are sitting on the cash at the moment. I’d also like to know your thoughts on how you feel comfortable taking on more debt. My husband and I are fairly frugal but the idea of owing the bank a million dollars over two properties freaks me out a bit 😅 Keep it up. Ps. I hope you’re doing well in the circumstances. I saw the story on channel 9 not long ago. I had a little girl in December who was in the NICU and that was hard enough without all the other things. Thinking of you guys. ❤️
1:40: Indeed, the price growth is one thing, but that's just a reflection of monetary devaluation. However what worries me, is the RATIO changes. Ratio of house prices to GDP. House prices to income. House prices to rent etc. It does make me wonder how much more is left?
Don't forget the foreign investor perspective. Perth is a popular investment destination for foreigners, and you see that in marketing that's done abroad (London and Perth are super hot now) by real estate companies like JLL. For Australia, Perth is especially attractive because of stamp duty waivers and there not being any land tax surcharge.
Perth has turned a corner for the first time (since the pandemic ). The population explosion in Perth has very little to do with mining . Interstate and international migration is at an all time high .It's a very diversified economy now and not just dependent on iron ore , I have had 2 friends that have moved to Perth from Sydney and Melbourne in the last 3 years , one works in infrastructure and the other is a tradie. I visited Perth last year and the city is unrecognisable from my previous visit 6 years ago .. And there is a chronic shortage of houses that won't change much in the next 3 years as there is nothing in the pipeline . Will not suprise me if Perth's median house price is higher than Brisbane and Melbourne in 5 years from now
I went to some open homes in December 2020. It turned the corner then!
Backing the area where you have skin in the game. Hence why it's Perth for me. Also, the Perth market is moving further from being strictly tied to the commodities market. Especially over the next 10 years as we enter a more globalised market. Coastal properties remain the top-performing areas, thankfully with 150km north-south coastal strip top choose from there will be plenty of great performing homes and areas in Perth over the short, medium and long-long term.
Sounds like you're backing where you're putting your money too!
Hi Luke. I’ve been following for a while and really like your investment strategy. It resonates with me. My husband and I bought a very run down place in Perth in early 2020 in an area 15 minutes from the CBD, 3 minutes from the Swan River and 5 minutes from the beach, and by virtue of the growth in the Perth market and our “sweat equity” as you call it, the property has increased in value by almost $300k. We want to use that equity to purchase another home which we will move into and rent out our current home. I’d be interested to know your thoughts generally on the numbers in situations like ours where the choice is hold onto house number one or sell to reduce mortgage on house number 2. It seems a lot of my friends in the Perth market have sold up and are sitting on the cash at the moment. I’d also like to know your thoughts on how you feel comfortable taking on more debt. My husband and I are fairly frugal but the idea of owing the bank a million dollars over two properties freaks me out a bit 😅
Keep it up.
Ps. I hope you’re doing well in the circumstances. I saw the story on channel 9 not long ago. I had a little girl in December who was in the NICU and that was hard enough without all the other things. Thinking of you guys. ❤️
1:40: Indeed, the price growth is one thing, but that's just a reflection of monetary devaluation. However what worries me, is the RATIO changes. Ratio of house prices to GDP. House prices to income. House prices to rent etc.
It does make me wonder how much more is left?
You should do a video about the Gold Coast. It is an exciting market that is always overlooked because it is not Brisbane.
If Iron Ore prices crash...which is not totally out of the question...Perth will get hit very hard.
Definitely more shaky economy which relies on the mining sector based on Perth's history
Hi Luke, what do you think about investing in a property in Nedlands?
Brisbane is the place to be, for both investors and owners, perth more volatile
The parts no flooded that is
On the eve of an election, I'm going to say that's a very politician like answer.
But I tend to agree
Hahaha I'd make a terrible politician
@@lukewiles1 too honest? Foot in mouth disease?
Hello sir, Are you looking for professonal youtube thumbnail designer?
No thanks
ADELAIDE!!!
What a waste of time? No new information, just reiterating what everyone knows!
lets not forget Islamic interest free loans...Designed for migration replacement of Aussies.