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The Perth Property Crash Thread; Let us enjoy the inevitable collapse as it unfolds in WA
Topic Started: 13 Aug 2014, 12:28 AM (89,601 Views)
MMM
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14 Jan 2015, 04:53 PM
Bottomed......april fools is still some way away Peter.

So you think rents have bottomed in Perth Peter ?
These are asking rents.

The trend is clear, no more falling rents, with job ads rising and interest rates falling, what do you expect would happen?

Just look at those gains over three months, rising for a quarter now.
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peter fraser
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14 Jan 2015, 04:43 PM
The trend is clear, falling rents for years, with more jobs losses and overbuilt property flooding the market what do you expect would happen.

Just look at those falls over twelve months, falling for two years now.

Yes - ASKING rents have been falling for two years.
http://www.sqmresearch.com.au/graph_median_rent_weeks.php?region=wa%3A%3APerth&type=c&t=1
So why did they just turn around?

Why did they break their trend?
Edited by peter fraser, 14 Jan 2015, 06:31 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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MMM
14 Jan 2015, 05:16 PM
These are asking rents.

The trend is clear, no more falling rents, with job ads rising and interest rates falling, what do you expect would happen?

Just look at those gains over three months, rising for a quarter now.
Rents have been falling for two years now, with all this record overbuilding and jobs and wage decline and people leaving, rents can only keep dropping from here.

Only blind freddy could still not see and understand this by now.

But seeing the levels you have had to go to here, I would say it must be clear to you.

As I have explained before , rents will be falling for years.

Not that one could take much credit for stating the bleeding obvious.
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peter fraser
14 Jan 2015, 05:32 PM
Yes - ASKING rents have been falling for two years.

So why did they just turn around?
Ah no.... Actual rents have been falling for two years.

Another early april fools joke no doubt Peter. Very good....

Who said they have turned, just more new property coming onto the market, where these savvy new 'investors', are asking the rents the agent told them they would get when they purchased a year or so ago.

Good luck with that.

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peter fraser
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14 Jan 2015, 05:56 PM
Ah no.... Actual rents have been falling for two years.

Another early april fools joke no doubt Peter. Very good....

Who said they have turned, just more new property coming onto the market, where these savvy new 'investors', are asking the rents the agent told them they would get when they purchased a year or so ago.

Good luck with that.
The graph of ASKING rents has fallen consistently for almost two years, but has now turned upward.

Here it is again if you haven't seen it.
http://www.sqmresearch.com.au/graph_median_rent_weeks.php?region=wa%3A%3APerth&type=c&t=1

Why?

All four have turned at the same time.
Edited by peter fraser, 14 Jan 2015, 08:28 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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newjez
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peter fraser
14 Jan 2015, 08:25 PM
The graph of ASKING rents has fallen consistently for almost two years, but has now turned upward.

Here it is again if you haven't seen it.
http://www.sqmresearch.com.au/graph_median_rent_weeks.php?region=wa%3A%3APerth&type=c&t=1

Why?

All four have turned at the same time.
Its not usual to get an uptick in Jan, except in 2014. Couldn't even begin to guess why.
Edited by newjez, 14 Jan 2015, 08:42 PM.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Jimbo
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14 Jan 2015, 05:56 PM
Who said they have turned, just more new property coming onto the market, where these savvy new 'investors', are asking the rents the agent told them they would get when they purchased a year or so ago.


Here is one on for 550pw. Not much chance of getting it tbh. http://www.realestate.com.au/property-house-wa-port+kennedy-414812447

It is not in the best part of town and there are 4x2's nearby for $450 a week.

Funny thing is that it has been on the sale market for five months now starting at $665k back in August and then changed to "all offers considered" at the end of September.

http://www.realestate.com.au/property-house-wa-port%20kennedy-117702215

This place was listed at $665k in 2011 as well.

Not much growth there...

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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Perthite
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peter fraser
14 Jan 2015, 04:30 PM
Anyone?
Asking?

Leading. Expect falls.
Edited by Perthite, 14 Jan 2015, 09:38 PM.
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peter fraser
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newjez
14 Jan 2015, 08:40 PM
Its not usual to get an uptick in Jan, except in 2014. Couldn't even begin to guess why.
There is an uptick in January because that's when the corporate rentals happen. Apparently not in 2014 but it is apparently happening in 2015.

Why?

Are the corporate tenants back in Perth?
It's a fair question.

Does anyone from Perth know?
Any expressed market opinion is my own and is not to be taken as financial advice
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Over the past 5 years or so, I personally know of around 16 FHB’s in Perth that have taken what ever government-developer grants they can get their hands on, then buy it, live in it for 3 months to qualify for the grants (or what have you).

These FHB’s then become “investment” buyers when they rent it out, (after the required 3 months of living in it) move back home to live with mum and dad and reap the rewards of negative gearing (especially on new homes that have higher rates of depreciation)

Sometime thereafter depending on bank rates moving between various lenders, they re-finance their home to a new lender at a better rate and as an “Investment loan” to ensure they scoop up the interest payments as tax deductions for Negative Gearing.

So they gain the double whammy effect:
1. They get the FHB grants from the government-Developer (AKA tax payer)
2. They get the tax write offs from the government (AKA tax payer) via NG.

Plus they also get a home cooked meal every night and mum still does their washing and Dad does the BBQ on the weekends. Sweet deal huh?
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