Latest news from my selected three southern suburbs excel spreadsheet.
Stock on market on 19th July 266, today 293.
Rentals available on 19th July 67, today 79.
I am also getting a very good picture of which price bands are moving (or not).
Anyone thinking of buying in the over 600k band south of Cockburn, hold off for a while. These places are not even being viewed let alone bought.
Turnover in the very low priced areas (300k to 350k) is normal but over 350k it is slowing.
Just thought I would share that.
Thanks for the Info jimbo, keep up the good work buddy.
It seems no matter how much bad new keeps coming out, the Perth bulls march on regardless of their mindless agenda while discrading all reality around them . So even when it shows prices and rents down 20%, we will no doubt still be hearing how good it is there and what a good time it is to buy.
Quick jump on the bandwagon or be priced out forever, prices double every seven years, you cant lose. Just put down a deposit of 3%-5% and pay interest only forever while hoping prices might double evry seven years.
All the while the economy has never looked worse, in living memory. Our high wages and cheap asain wages have assured that now and well well well into the future. We did not face this problem coming out of the great depression , either did US, euro or UK.
Thats the biggest problem we all face economically, but you all seem to turn a blind eye to it, just ignore it and it might go away you reckon.Just like the government is still trying to do
Perth has gained 3% in the last five years, iron ore is down 50% from its high, the dollar is down 20% from its high, and that fucking moron keeps telling me I'm wrong! I don't get it. Do they give finance diplomas to morons these days? I notice he didn't say where it was from. How much is a fake diploma these days?
The easier question to answer is when has Newjez ever been right, that is Avery small list. Meanwhile here are some of his classic quotes.
Quote:
newjez 31 Aug 2011, 07:39 PM I have to agree that I can't really explain the falls when we haven't really started yet.
There is no real reason at the moment for downward pressure. It will be very interesting to watch when/if those reasons start to apply.
When unemployment starts to rise, the pressure on housing prices should accelerate dramatically.
If there is to be a crash it will be on the West coast and within a year.
Predicted a crash for 2012, wrong again.
Quote:
newjez 21 Dec 2011, 11:06 PM The Perth market is the one to watch, and if you've cash in your pocket you may be able to cherry pick.
Newjez thought prices would crash and you could buy a house with cash, that was nearly 3 years ago. Nice call.
Quote:
28 Jun 2013, 02:49 PM I haven't actually. I was quite bullish on Perth for the year just gone. But it started to petter out this calendar year. It has quickly become obvious that the gains aren't going to continue.
As they say - a journey starts with a single step. Expect price falls every month going forwards in Perth now.
TBH Mike I do hope you are right, at least for another couple of months, as my brother is about to sell his house. Hopefully he will catch the tail of the market. He's usually pretty good at timing his moves. It may take a few months for the press and the general population to catch on anyway. Probably take a bit longer for you.
Love it, said right before prices increased by 6% over the next 5 months.
If you go back to my quotes from a few years ago, I correctly predicted Perth would rise over 15% in the next few years. Newjez even questioned how I knew this when no mainstream media reported this. Knowledge and experience counts for far more then sensationalist media reports. While newjez constant crash predictions never happened, my predictions proved to be very accurate, hard to get more accurate then I have been without a few supercomputers to model everything. Most bears followed Newjez line of thought and were also wrong.
I could post dozens of quotes from Newjez, Perthite and Veritas with bold predictions, property crashes, price declines. Perthite even called a recession and tried to convince us all WA in a recession. A least you 3 are good for a laugh some of the time.
newjez
17 Aug 2014, 08:15 AM
Secret squirrel #there's lots of Chinese # secret squirrel
Called first hand data, a lot of experience and being able to extrapolate the result moving forward over the next few years.
As I have said for a few years now, I expect this spring/summer to be towards the end of this growth cycle. I expect prices to stabilise by this time next year. Then enter a flat market for a few years.
Ask yourself, how did I know Perth would grow by almost the exact amount it did, good guess? When nearly everyone said prices would fall I was going against the trend at the time. So how did I get nearly all the calls correct in recent years. Not all I make mistakes as well, but I have been very accurate, why?
And I like it, Foxbat told me to sell 14 months ago Peter
A friend of Foxbat has put his house for sale, last week his agent had 5 home opens, a sum total of 1 person came and looked at 1 home. Price range of homes is $1m to $3m.
The question is how does Foxbat know all this stuff???
Anyway he got me out at the top of one market and into the bottom of another.
Don't tell him but he is hard work Sometimes, I am going to buy him a new croquet mallet from the royal croquet works in England as a gift. Hope he likes it. Peter
Ask yourself, how did I know Perth would grow by almost the exact amount it did, good guess? When nearly everyone said prices would fall I was going against the trend at the time. So how did I get nearly all the calls correct in recent years. Not all I make mistakes as well, but I have been very accurate, why?
You must be bloody superman or something. I do know you are totally deluded. No analyst can ever know what mr and mrs X would be prepared to pay for property Y or whether mr z would be prepared to accept their offer. A market consists of 100's of transactions and to predict accurate % rises or falls would require prior knowledge of all of these.
If you have found a secret formula that is so bloody accurate, why are you not retired by now? If I knew with 100% certainty of a definite 15% future market move, I would become a billionaire overnight.
You are without doubt one of the most full of shit bloggers I have ever encountered.
I read your "blog spot" and fell about laughing. You put two and two together and come up with five.
You post this link at the bottom of your comments like we are all supposed to go "wow, a real economist, he even has his own blog". What a twat.
Just for the record, I have predicted that Perth prices (in certain bands) would climb until July this year, before entering a period of decline or stagnation. It is a prediction based on certain factors in play at the moment (no big secrets).
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.
You must be bloody superman or something. I do know you are totally deluded. No analyst can ever know what mr and mrs X would be prepared to pay for property Y or whether mr z would be prepared to accept their offer. A market consists of 100's of transactions and to predict accurate % rises or falls would require prior knowledge of all of these.
If you have found a secret formula that is so bloody accurate, why are you not retired by now? If I knew with 100% certainty of a definite 15% future market move, I would become a billionaire overnight.
You are without doubt one of the most full of shit bloggers I have ever encountered.
I read your "blog spot" and fell about laughing. You put two and two together and come up with five.
You post this link at the bottom of your comments like we are all supposed to go "wow, a real economist, he even has his own blog". What a twat.
Just for the record, I have predicted that Perth prices (in certain bands) would climb until July this year, before entering a period of decline or stagnation. It is a prediction based on certain factors in play at the moment (no big secrets).
You must be bloody superman or something. I do know you are totally deluded. No analyst can ever know what mr and mrs X would be prepared to pay for property Y or whether mr z would be prepared to accept their offer. A market consists of 100's of transactions and to predict accurate % rises or falls would require prior knowledge of all of these.
If you have found a secret formula that is so bloody accurate, why are you not retired by now? If I knew with 100% certainty of a definite 15% future market move, I would become a billionaire overnight.
You are without doubt one of the most full of shit bloggers I have ever encountered.
I read your "blog spot" and fell about laughing. You put two and two together and come up with five.
You post this link at the bottom of your comments like we are all supposed to go "wow, a real economist, he even has his own blog". What a twat.
Just for the record, I have predicted that Perth prices (in certain bands) would climb until July this year, before entering a period of decline or stagnation. It is a prediction based on certain factors in play at the moment (no big secrets).
Then let's see how things pan out over spring and summer, then we shall see who is right or wrong.
It is all those thousands of transactions you talk about that I tap into, prior to any data providers looking at the data. Hence why I am ahead of the curve. It's why I often see market movements months ahead of most other people.
Keep in mind I have a vast network of professionals in many different areas of real estate and finance. It is this huge network that acts like a huge web that catches data, I simply filter it and add my own analysis to it. It's not just a prediction, I invest millions of dollars based on my hard work to gather this information. I don't have time to wait for data providers or media to say which way a market is moving, that is many months late and then everyone else will also know.
I a already preparing for a softer market in the coming years, increasing my cash flow so I can secure more land when prices ease. This will provide the land for my next series of developments over the next 5 years.
Then let's see how things pan out over spring and summer, then we shall see who is right or wrong.
It is all those thousands of transactions you talk about that I tap into, prior to any data providers looking at the data. Hence why I am ahead of the curve. It's why I often see market movements months ahead of most other people.
Keep in mind I have a vast network of professionals in many different areas of real estate and finance. It is this huge network that acts like a huge web that catches data, I simply filter it and add my own analysis to it. It's not just a prediction, I invest millions of dollars based on my hard work to gather this information. I don't have time to wait for data providers or media to say which way a market is moving, that is many months late and then everyone else will also know.
I a already preparing for a softer market in the coming years, increasing my cash flow so I can secure more land when prices ease. This will provide the land for my next series of developments over the next 5 years.
Then let's see how things pan out over spring and summer, then we shall see who is right or wrong.
It is all those thousands of transactions you talk about that I tap into, prior to any data providers looking at the data. Hence why I am ahead of the curve. It's why I often see market movements months ahead of most other people.
Keep in mind I have a vast network of professionals in many different areas of real estate and finance. It is this huge network that acts like a huge web that catches data, I simply filter it and add my own analysis to it. It's not just a prediction, I invest millions of dollars based on my hard work to gather this information. I don't have time to wait for data providers or media to say which way a market is moving, that is many months late and then everyone else will also know.
I a already preparing for a softer market in the coming years, increasing my cash flow so I can secure more land when prices ease. This will provide the land for my next series of developments over the next 5 years.
What a load of old bollocks.
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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