Welcome Guest [Log In] [Register]


Reply
The Perth Property Crash Thread; Let us enjoy the inevitable collapse as it unfolds in WA
Topic Started: 13 Aug 2014, 12:28 AM (89,583 Views)
Jimbo
Member Avatar


The Whole Truth
19 Aug 2015, 01:11 AM
People aren't even turning up to open houses anymore. Love it :lol
I still go. On the way to the beach for a Sunday stroll, we generally pop into one or more.

Some of the local agents look a bit pissed off when they see us. They know we won't be buying, but the missus still asks them loads of questions so they have to give us the patter.

Attendance numbers are well down on a year ago. Times have been cut back as well (generally down from a one hour window to 30 minutes).

Locally, there are 30% more houses for sale than on this same day last year (I have this spreadsheet you know).

Ha ha.
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.
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

skamy
10 Aug 2015, 10:56 AM
The last figure in the REIWA chart is not reliable - some property club they are- eejits

Even Perthite knows the last figure is just bunkum.
http://www.perthnow.com.au/realestate/news/perth-housing-market-leads-race-to-bottom/story-fnhlgriw-1227507646939

Come on Skamy.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
Massive
Default APF Avatar


The Whole Truth
19 Aug 2015, 01:11 AM
you're waffling again old man.

Perth is only going one way mattie, in the direction of your retirement wealth. Down Down Down.



http://www.afr.com/real-estate/perth-property-market-feels-just-like-a-recession-20150626-ghywoi

commercial is always the canary in the mining state.
No work = no pay = falling property prices




People aren't even turning up to open houses anymore. Love it :lol
Have a relative who has house on market for 15% less than similar house on same street sold for last year ..

Home opens since February . Handful of visits to date and no feedback
Profile "REPLY WITH QUOTE" Go to top
 
The Whole Truth
Member Avatar


The proof is always in the pudding, never in the median.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Profile "REPLY WITH QUOTE" Go to top
 
Massive
Default APF Avatar


The Whole Truth
2 Sep 2015, 04:43 PM
The proof is always in the pudding, never in the median.
Actually I was being a bit dramatic.. more like 11.5% discount .. they wasted a year on doing small renovations . Could have saved themselves 15k or so spent tarting up and sold in a few weeks at much higher prices if they just put it on the market last year IMO ...
Profile "REPLY WITH QUOTE" Go to top
 
newjez
Member Avatar


Massive
2 Sep 2015, 06:11 PM
Actually I was being a bit dramatic.. more like 11.5% discount .. they wasted a year on doing small renovations . Could have saved themselves 15k or so spent tarting up and sold in a few weeks at much higher prices if they just put it on the market last year IMO ...
Having looked through some of the houses on reiwa though, it is clear some people don't have a clue how to sell a house, and some people have very personal taste, or have no idea what appeals to the general public so go for that sterile look. There is a crying need for interior decorating in Perth.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Profile "REPLY WITH QUOTE" Go to top
 
The Whole Truth
Member Avatar


Massive
2 Sep 2015, 06:11 PM
Could have saved themselves 15k or so spent tarting up and sold in a few weeks at much higher prices if they just put it on the market last year IMO ...
It's all about timing isn't it. Unfortunately they were running on the TV manta. Adding value to a house, ot always increases the sale price.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Profile "REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


Massive
2 Sep 2015, 06:11 PM
Actually I was being a bit dramatic.. more like 11.5% discount .. they wasted a year on doing small renovations . Could have saved themselves 15k or so spent tarting up and sold in a few weeks at much higher prices if they just put it on the market last year IMO ...
In breaking news Perth is down 1.85% for the year.

People who have to sell will need to discount, but those who don't have to sell will sit and wait. It's a good time to buy, but most buyers will wait until prices begin to rise instead of buying when they are on the way down.
Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
Elastic
Member Avatar


peter fraser
5 Sep 2015, 08:05 AM
In breaking news Perth is down 1.85% for the year.

People who have to sell will need to discount, but those who don't have to sell will sit and wait. It's a good time to buy, but most buyers will wait until prices begin to rise instead of buying when they are on the way down.
But if most people buy on the way down then won't that just cause prices to rise.
A self fulfilling prophecy if you will.
Only a rat can win a rat race.

Profile "REPLY WITH QUOTE" Go to top
 
peter fraser
Member Avatar


Elastic
5 Sep 2015, 09:44 AM
But if most people buy on the way down then won't that just cause prices to rise.
A self fulfilling prophecy if you will.
My point was that most people don't buy on the way down, if they did the market would correct as you correctly point out.

In my experience better bargains are to be had before the market bottom than after it because when vendors see worsening conditions ahead they will take almost any offer, but when they see the market improving they dig their toes in. Have any Perth bears here tested the market recently, or are they just watching the index which is 3 months old data.
Edited by peter fraser, 5 Sep 2015, 01:32 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
Profile "REPLY WITH QUOTE" Go to top
 
2 users reading this topic (2 Guests and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Enjoy forums? Start your own community for free.
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy