For those of you who don't already know, I've made a recent purchase, a 4 bedroom 2 bathroom house in a mid class suburb about 10km from the Perth CBD. The stamp duty alone costs me around $30,000!!!
Home prices in Perth have taken a 2 year hiatus from the stratospheric rises of the 2006-2007 boom where properties were being bought site unseen. Properties were being bought before the agents could list them and sometimes being offered for more than what the asking price was!! That was approximately when I bought my first house here in Perth. Talk about bad timing. Soon thereafter prices began to slide back about 10%-20% depending on the suburb. The bad news is, many industry experts are predicting another wave of price rises similar to that seen two years ago.
The median house price in Australia is now around $460,000. There are no less than 20 suburbs in Perth that have a median house price of more than $1 mil. I was having a debate with a friend the other day who was of the opinion that Perth properties had huge potential and was truly value for money. Needless to say I disagreed.
With that in mind I made some comparisons between what we get for our money in Perth and that of other comparable places. See below:
Below is a 3 bed, 3 bath 2 storey house in the Dominican Republic, 5 mins to the beach. Land size is 3,500 sqm and house is 400 sqm. Price = $420,000.
Italy Tuscan Tri Level Villa, 3 bed, 2 bath overlooking beautiful scenery. Price = $460,000.
2 Storey Family home in Florida, USA in the prestigeous St. Augustine Estate overlooking the golf course. House has 4 beds, 3 bath and 250 sqm of internal living. Price = $460,000.
Scarborough, 6km from Perth. 2 bed, 1 bath on 343 sqm of land. Price = from $480,000.
I rest my case!
Raw deal indeed
ReplyDeleteLol....pity pity
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