According to the chief executive of real estate agency Raine & Horne, a drop in interest rates would likely boost the performance of Perth's housing market.
In the agency's end of 2014 wrap, Angus Raine said: "The Perth market is highly correlated to the commodities sector, so any assistance from the Reserve Bank will help underpin real estate activity in 2015."
Raine & Horne Rockingham Beach principal Paul Curran said the prospect of a rate change would particularly affect the south-western suburbs.
"Interest rate cuts will always make a difference in first home owner belt suburbs such as Rockingham, Safety Bay, Baldivis and Warnbro, where it's possible to secure a four bedroom, two bathroom home for between $380,000 and $450,000," said Curran.
In the city's northern region, the Rain & Horne North Perth Principal Larry Gallagher said exposure to commodity prices has weakened conditions in the investment property market.
"However, there is cause for optimism with the falling Australian dollar sure to help attract more foreign interest in the Perth real estate market," Gallagher said.
"The falling dollar might also keep more Australians at home this Christmas holiday season, with Western Australia sure to be a major beneficiary. A spike in tourism numbers often translates to more interstate investors buying Perth real estate."
Meanwhile, the agency claims increased calls to review negative gearing policy have impacted interest in the investor-dominated Mandurah market. Petter Vetten, principal at Raine & Horne Mandurah, called "ongoing attacks on negative gearing" "far from helpful".
"The Mandurah market was going gangbusters up until about three weeks ago when the calls for the government to review negative gearing hit a crescendo," said Vetten.
"Investor enquiries have since hit the wall following last week's release of the Financial System Inquiry Report, which recommended reducing the benefits of negative gearing."
... a drop in interest rates would likely boost the performance of Perth's housing market.
Wait.... wait.... Guy who sells houses to keep living suggests that houses are "likely to perform", if credit gets even cheaper!!! You go you fuck tard!
Wait.... wait.... Guy who sells houses to keep living suggests that houses are "likely to perform", if credit gets even cheaper!!! You go you fuck tard!
We can keep this madness kicking higher another 6 months at least... that's where my money's at.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness. "Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
We can keep this madness kicking higher another 6 months at least... that's where my money's at.
Another 6 months of rent for your LL. At the end of which you'll look at the first year costs and decide to wait a bit longer because the big crash is in another 6 months.
Rinse and repeat for a decade. From what i've seen, there are probably people here who are LL's and have had an entire house paid off for them by tenants like you...
Another 6 months of rent for your LL. At the end of which you'll look at the first year costs and decide to wait a bit longer because the big crash is in another 6 months.
Rinse and repeat for a decade. From what i've seen, there are probably people here who are LL's and have had an entire house paid off for them by tenants like you...
Hows that iron ore price going, or the oil price? careful stepping round that capex cliff! Any spare office space? Sales dropping yet? Rents falling?
Mate - Perth is so fucked the juices are bubbling out of it's mouth.
You're betting on a dead horse.
Search on the REIWA site for reduced.
449 results
I just can't work out where it is. Must be a new suburb or something!
SoooO much hot air by usual morons of this forum...
Let's see Yes there's a softening on demand of Perths rental props during the year, but the rental market currently remains STABLE at 4% most realistic homeowners have certainly come to terms in accepting the current market & aim to present props best as possible.
The RBA's decision in maintaining these very lowish IR of 2.5% during the yr has ensured buyers confidence ..can't dispute that really. People who do their research will understand that: .correctly priced .well marketed .well presented props will sell.
Realize that whilst FHB & investor activity have cooled its paces since 2013' what's been interesting is the midrange/upgrade sector of the Perth market($700-1.4 mill) price ranged homes. My guess it's been hotting up the current stats more positively.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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