Articles Tagged "mortgage"

All About Perth – Perth Culture


If you're new here, you may be interested to know that you can receive all of our latest articles directly to your inbox. Click Here for more info. We promise to keep your email safe and will use it for only this purpose

Perth Culture

Social structure

The “Western Suburbs” between Perth and the Indian Ocean, contain the highest income suburbs notably the locations of homes of the wealthiest individuals becoming landmarks and tourist attractions.

The “Eastern Suburbs” around the airport are less desirable suburbs, many light industry and main roads co-exist with the residential areas. Crime rates are higher in the “Eastern Suburbs” than the “Western Suburbs”.

The “Northern Suburbs” extend from Northbridge to Joondalup and are mostly based along the coast, contain a lot of new housing, new developments & many new migrants especially from the UK decide to live here.

The “Southern Suburbs” are where the bulk of Perth residents live, extending from Kwinana in the South West, Armadale in the South East, Fremantle in the West & Belmont in the East. Most houses in the “Southern Suburbs”, including Fremantle, were built before 1970 and they are established suburbs with most residents being Australian Citizens.

The majority of industry and jobs in Perth, outside of the CBD, are based in the Southern Suburbs.

The outer suburbs, well away from the city to the north and south, are referred to as “Mortgage Belt” suburbs, where the low to middle income population of Perth are often commented about during Federal and State Elections as to their collective responses to government policies that might affect their well-being.

Isolation and attitudes

Western Australia, or specifically Perth was the most reluctant participant in the Commonwealth. Residents of Kalgoorlie and Albany voted to join the Commonwealth, and the proposal of these areas being admitted separately was considered

The secessionism has been a recurring feature of Western Australia’s political landscape since shortly after European settlement in 1829. The idea of self governance or secession has often been discussed through local newspaper newspaper articles and editorials and on a number of occasions has surfaced as very public events including a State referendum in 1933. Organised groups have been established to agitate when the timing has been to their advantage. Prominent Perth business people continue to raise the possibility of secession.

Almost all the stereotypes of an Australian (‘rough and tumble’, friendly, athletic, etc.) exist in Perth and are very much an integral part of Perth’s culture. When one thinks of a typical Australian stereotype, it came out of Western Australia.

Perth Ethnicity

Because Fremantle was the first landfall in Australia for migrant ships coming from Europe in the 1950s and ’60s, Perth experienced an influx of Croatian, British, Macedonian, Italian, Dutch and Greek migrants. The name of quite a few migrants who arrived during this period are listed on an honour board outside the Maritime Museum. More recently, large-scale immigration to Perth by air from the UK has continued, giving Perth the highest-proportion of British-born residents of any Australian city. In some areas in the far south of Perth (Rockingham) and the far north of Perth (Joondalup) the populations are higher than 20 per cent British by birthplace.

Perth also has substantial immigrant communities from South East Asia such as Malaysia, Singapore, Hong Kong, Indonesia, China, India and Sri Lanka (Many of whom emigrate from their home countries for educational purposes). The Indian community includes a substantial number of Parsees who emigrated from Mumbai. Another source of immigration has been Southern Africa, with many white South Africans and Zimbabweans settling in the city.

Many migrants are from New Zealand, due to the fact that New Zealanders, unlike other foreign nationals, are eligible for ’special category’ visas, which allow them to live and work in Australia.

Article Popularity: 8%

Posted in PerthComments (0)

House valued – feeling positive


Well, we had the chap from the Halifax estate agency around yesterday. Not the most talkative bloke but he gave us the news we wanted to hear.

Basically, in the 9 years that we’ve lived here, our house as doubled in price. Assuming we get a buyer to pay this price, we’ll be able to pay off the mortgage and the odd Visa balance whilst still taking enough money with us to Australia to live off (if need be) whilst we get settled and start looking for jobs.

Worse case is we can drop the price sufficiently to make the house a ’steal’ whilst still taking a few bob out to Oz.

We’re being realistic that it may be a while before we can get a buyer, however it feels good to know the kind of money we may be looking for. Spring is in the air, the gardens and the house has never looked better and we’re feeling pretty optimistic about the whole thing.

We have a second valuation next week (which we hope will confirm a similar price), once we’ve had that, the house will go on the market with an asking price of the average of the two.

Things actually seem to be happening now which is perhaps as well as our target move to Aus date of September 2006 is looming!

Article Popularity: 2%

Posted in Blog EntriesComments (1)

The Australian Real Estate Market in 2006


Australia has led the worldwide real estate boom and enjoyed record price increases over the past three years, but as 2006 gets underway many fear that the recent success of the Australian real estate market is not sustainable.

While the Australian housing market may well face a short period of economic adjustment, there are still ways to profit from the real estate sector in Australia. Real estate investors examining the market just need to look a little further afield than Sydney!

Perth in Western Australia is one city where real estate prices remain affordable and where demand for quality accommodation to buy and rent is increasing which is creating an exciting micro property investment market opportunity ripe for exploration in 2006.

The reason for Perth’s sudden popularity from a real estate perspective springs from the fact that the city is enjoying a period of economic advancement led by a vast improvement in employment prospects. Local residents in Perth are benefiting from better paying employment and an abundance of opportunity, and the city is attracting a steady flow of inward migration as job seekers move to the city to take up offers of employment.

Historically Perth’s real estate prices have lagged well behind those of Sydney and Melbourne for example, and the average home finance sought to purchase in Perth is around 30,000 Australian dollars less than the average mortgage taken out elsewhere in Australia. The lower priced accommodation is attracting more interest from investors from across Australia as well who are all seeking a housing market with legs left to run. Furthermore the real estate sector in and around Perth is enjoying interest from international real estate investors who can see the long term prospects available.

As demand for accommodation in Perth increases as the city welcomes new residents, so the prices being charged for rental housing are on the up as well. Anyone who purchases real estate to let out in Perth right now can cash in on this boom in rental rate rises and retain their property while the predicted period of property price growth develops.

Across the rest of Australia many first time home buyers have been temporarily priced out of the housing market as property prices have exceeded affordable levels. While the market readjusts over the short term there are fears that a rental accommodation crisis is looming in some of Australia’s most popular cities such as Brisbane and Sydney. This concern is of course leading to sharp increases in rental rates being charged by landlords who are well aware of how valuable a commodity they own.

While this is an unfortunate situation for those caught in the rental trap it is a perfect situation for an investor seeking immediate returns on real estate investments in Australia. Anyone who makes a real estate investment purchase in Australia with the intention to let out that property will not only make a strong income currently but they will continue to enjoy property price growth over the longer term as the market readjusts and begins to grow again in Australia in the medium term.

And finally, if you’re interested in the real estate market down under and are not an Australian citizen, overseas buyers are free to own real estate in Australia that has been granted permission for sale to foreign purchasers; and you can rest assured that the purchase process will be straightforward because it is so well regulated in Australia.

About the Author

Rhiannon Williamson writes about overseas real estate investment and specialises in the analysis of property market trends and opportunities. To read more information about real estate investment in Australia click here.

Article Popularity: 3%

Posted in Real EstateComments (1)

Page 2 of 212
Advert

Sponsored Links

Check out the following Migration related resources to help you make your move down under a smooth one!

* Read our free AUSTRALIA IMMIGRATION guide with the help of GlobalVisas.com to help you secure your visa

* WORK DOWN UNDER free resources in your search for work down under

Get your company listed here »

Australian Immigration advice - Australian Visa - Migrate to Australia