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Top End is Rolling Over. Perth Sales Tank 44% in Western Suburbs.
Topic Started: 5 Aug 2014, 10:15 PM (5,896 Views)
Mr Wang
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cokatoo56
7 Aug 2014, 12:52 AM
The consequence of the mining activity slowing down is that there are more properties for sale, and sales prices and rents going down in Perth.
So, would it be right to assume that prices in Sydney will also start to go down soon too ?
Most finance and insurance companies are based in Sydney. If the mining activity is slowing down, it means also less business for finance/insurance companies and banks in Sydney.
Sydney and Melbourne have their selling real estate to Chinese crims ponzi going now since Canada saw the writing on the wall and told them to go away elsewhere.
Such bastions of productivity and innovation are Sydney and Melbourne...
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goldbug
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Jimbo
6 Aug 2014, 11:45 PM
I don't get the seasonal slowdown argument at all. The increase in rental vacancies indicates that there is not a pool of buyers sitting and waiting to pay more for the same thing in September.
People rent because they rent, with some planning to buy at a future date but many with no plan at all. The increase in rental vacancies simply tells me people are unable to afford the luxury of having a home to themselves are probably moving back to mom and dad's or in with other people in a share arrangement.

It's the big flaw in the property investors forward planning, no consideration for the realty of owning an investment people can no longer afford. People who own commercial property know this now, they have had a rude awakening. Residential is simply the next shoe to drop.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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nelson
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Perth rents nosedive.

Too bad for all those investors who bought when rents were high and they thought they were going higher and higher. But no, lower and lower they go, where they stop, nobody knows.

The titanic is sinking, who will ride it to the bottom, wherever that is......

Investors will be jumping ship now, why wouldn't they ?



http://www.oldlistings.com.au/real-estate/WA/Subiaco/6008/rent/1/:bed:3
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Jimbo
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goldbug
7 Aug 2014, 09:22 AM
People rent because they rent, with some planning to buy at a future date but many with no plan at all. The increase in rental vacancies simply tells me people are unable to afford the luxury of having a home to themselves are probably moving back to mom and dad's or in with other people in a share arrangement.

I think the main reasons rental vacancy rates are increasing can be seen in places like Baldivis and Aubin Grove. Shit loads of new houses and units being built on small blocks. Many of these are cheaper to buy than paying rent to a property "investor".

They are close to the train line so a city commute is easy.

Also, we don't have the influx of replacement renters that we had during the mining investment boom.

I think a few Perth investors will soon discover that the old "property generates income" rule has a condition attached. Property generates an income IF you can find someone to rent from you.

Edit. There is a group of rental properties that I have been watching for two months now. One has just reduced by $10 a week for the fifth week in a row. It started at $450 back in late June and is now down to $400. Two years ago they would have had people fighting with each other to rent this place.
Edited by Jimbo, 7 Aug 2014, 10:06 AM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Black Panther
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Jimbo
7 Aug 2014, 09:57 AM
I think the main reasons rental vacancy rates are increasing can be seen in places like Baldivis and Aubin Grove. Shit loads of new houses and units being built on small blocks. Many of these are cheaper to buy than paying rent to a property "investor".

They are close to the train line so a city commute is easy.

Also, we don't have the influx of replacement renters that we had during the mining investment boom.

I think a few Perth investors will soon discover that the old "property generates income" rule has a condition attached. Property generates an income IF you can find someone to rent from you.
You Think Wrong. I am seeing the opposite, people queuing for a chance to rent a property.
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nelson
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Black Panther
7 Aug 2014, 10:01 AM
You Think Wrong. I am seeing the opposite, people queuing for a chance to rent a property.
And where abouts would this be ? Or did you just make it up ?

Of course you did , when we know the opposite is true, dear oh dear oh dear. :bl:
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Jimbo
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Black Panther
7 Aug 2014, 10:01 AM
You Think Wrong. I am seeing the opposite, people queuing for a chance to rent a property.
Sorry, I don't buy that one at all. I am looking at three different metro areas and vacancy rates have been climbing daily since June. There is so much choice out there at the moment.

I sold and went into rental in July and I found it piss easy to get a place. I was attending home opens and I was the only one there. Some of the places I looked at back in June are still on the market and discounting their rents.

If people are forming long lines for a chance to rent, you must have traveled back in time two years (or something)?
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Black Panther
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Jimbo
7 Aug 2014, 10:13 AM
Sorry, I don't buy that one at all. I am looking at three different metro areas and vacancy rates have been climbing daily since June. There is so much choice out there at the moment.

I sold and went into rental in July and I found it piss easy to get a place. I was attending home opens and I was the only one there. Some of the places I looked at back in June are still on the market and discounting their rents.

If people are forming long lines for a chance to rent, you must have traveled back in time two years (or something)?
Sorry, but I can only tell you of my recent experience. My IP's are rented out without any problems at all.

However, they are all quality stock.

Perhaps the places you looked at were not much chop hence being empty for a while.

To conclude the rental market is collapsing from this is not a very smart thing to do.

Put simply, the Perth market is still very healthy.

Edited by Black Panther, 7 Aug 2014, 10:20 AM.
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Jimbo
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Black Panther
7 Aug 2014, 10:19 AM
Put simply, the Perth market is still very healthy.

You got me there. I can't think of a reply to that one.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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doubleview
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nelson
7 Aug 2014, 09:49 AM
Perth rents nosedive.

Too bad for all those investors who bought when rents were high and they thought they were going higher and higher. But no, lower and lower they go, where they stop, nobody knows.

The titanic is sinking, who will ride it to the bottom, wherever that is......

Investors will be jumping ship now, why wouldn't they ?



http://www.oldlistings.com.au/real-estate/WA/Subiaco/6008/rent/1/:bed:3
Nail on head!

Posted Image

The APF Perth bears head for safety!

Posted Image

While the APF Perth bulls listen to their masters and play a tune to keep the unsuspecting asleep.
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