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... I'm guessing many people will be picking Adelaide after Brisbane.
I'm a complete novice on the Perth market, but can a Perth local answer me this: with the mining boom ending, what other industries are actually driving the Perth economy?
I know there is the wine region, some minor tourism, and maybe some tertiary education; but these are all pretty small. Assuming the mining booms departure; basically I want to know: what drivers will keep Perth property demand high, and thus see property there performing?
Based on posts, I always thought that WA members have a bit negative view on Sydney market where is Sydney siders are more optimistic.
Results from this poll kind of confirms that. I wonder why?
I guess most of the mining happened far away from Perth anyway. Although a counter argument to that is a lot of that money probably still ended up flowing to Perth. It was closer for the miners to setup HQ there and the closest place for the cashed up workers to go splash out. I would think in aggregate it contributed quite a lot.
I'm a complete novice on the Perth market, but can a Perth local answer me this: with the mining boom ending, what other industries are actually driving the Perth economy?
I know there is the wine region, some minor tourism, and maybe some tertiary education; but these are all pretty small. Assuming the mining booms departure; basically I want to know: what drivers will keep Perth property demand high, and thus see property there performing?
Must be doing ok if it's a stronger economy than Brisbane..
There's a reason why the wa premier asked for, and got, a fair amount of money from the commonwealth govt
...Brisbane did not.
Because they were doing poorly? I thought it was because they simply didn't get their fair share? Or is it a bit of both?
Yes, I think that's possible. It was already at $946K in April, and probably $960K now. It will be over a million by the end of 2015. Then I think another 20% over 2016 and early 2017 is quite likely, or more if the RBA cuts rates again. So far this boom hasn't even been as big as the late 90s - early 2000s boom, when prices more than doubled in six years. During that boom, the strongest growth came at the end.So where do you see median for Syd in 2017..?. 1.2m
Yes, I think that's possible. It was already at $946K in April, and probably $960K now. It will be over a million by the end of 2015. Then I think another 20% over 2016 and early 2017 is quite likely, or more if the RBA cuts rates again. So far this boom hasn't even been as big as the late 90s - early 2000s boom, when prices more than doubled in six years. During that boom, the strongest growth came at the end.