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I thought the Perth area was doing well, page-256

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Sector

35,472 Posts.

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24/04/21

17:34

Post #: 52700019
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Originally posted by Justis: ↑

Well all to look at now is how long the property run will go for and how high will it go.

Record low tenancy rates
Record low interest rates
No indication interest rates will rise any time soon
First home buyers can get into the market with mortgage repayment about the same of less than rent

All those factors favour property for some time

Just had a look at new land releases in the outer southern suburbs, wow so much of it under offer. Tells me home builders and trades will be busy for quite a while.

I had considered redeveloping this place I have, knock down existing home a build 2 town houses. Given what I wanted to build ie 3 story but look like 2 story from the road it seemed like I could be over capitalising, way the market is now it may not be now.

If some one had told me a house I brought for $40k would be worth $500k in 40 years time I would have thought they were crazy, now I would not be surprised if it will be worth $1m before long

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Land I bought in early 2015 for $430k is now selling for $860k (on smaller blocks) ie: 800m2 to 600m2.
It's increased about $200k in last 18 months though.

So 100% increase in 6 years and 75% of the block size now.

I'll let the bears from 2015 do the math on ROI with 20% down.

Last edited by Sector: 24/04/21
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