Welcome Guest [Log In] [Register]


Reply
  • Pages:
  • 1
  • 3
Kalgoorlie Joins the Bust; Investor Woes. Prices and Rents Smashed.
Topic Started: 20 Aug 2014, 07:31 PM (2,532 Views)
Perthite
Member Avatar


How long till rent falls in Perth trigger sales like this...

http://www.afr.com/p/national/mining_towns_lose_boom_time_lustre_NnrR3QwecfDbG7stdXI31M
Edited by Perthite, 20 Aug 2014, 07:32 PM.
Profile "REPLY WITH QUOTE" Go to top
 
Ex BP Golly
Member Avatar


Check out Queenstown Tasmania.

I rather think these prices are a bit benchmark for what could happen in Sydney and Melbourne come the pop.

I have stated previously my belief that the average house in Sydney has a fair value of c.$250,000.


WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
Jimbo
Member Avatar


Perthite
20 Aug 2014, 07:31 PM
How long till rent falls in Perth trigger sales like this...

But Perth is so much more than mining.

It has mining services, sales of 4WD's to people who work in mining, places for people who work in mining to get pissed at $13 a pint, RE agents to sell investment properties to people who work in mining and other stuff as well.

No problems here.
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
 
goldbug
Default APF Avatar


Quote:
 

NSW-based couple Emma and Jacob Griffiths have rented their two-bedroom investment property in Kalgoorlie-Boulder, in Western Australia, since 2012 for $370 per week but have had to lower the rent to $300 as demand has fallen.

They are now looking to sell the property at around 18 per cent less than they paid for it for in 2009 “At first it was really easy, there were so many people looking for a rental,” Mrs Griffiths said. “We are now finding it difficult to rent or to sell because no one is buying houses.”


Typical people caught in a bubble. Buy at the top, then ride it down down down. This is the same strategy Shadow is employing to sabotage his future. Sure sydney medians have gone up, driven by the ones that sold at the top end to wealthy Chinese, and by homes sold after extensive renovations. But not cheap rentals the like of which shadow owns.

He never admits that in his bullshit drivel but we call all read between the lines. By the time he figures it out he will be 20% behind the market with no way to exit without incurring a huge debt. That's the IO Loan trap by the way shadow, you still owe the same amount you borrowed all those years ago and all that rent has gone to some fatcat banker as a yearly bonus :lol :lol
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
Profile "REPLY WITH QUOTE" Go to top
 
fake_you_know_who
Unregistered

I can't stand all you doom and gloomers who insist that property is going downhill in Perth - it's still recovering from record lows!!
"REPLY WITH QUOTE" Go to top
 
Guest
Unregistered

goldbug
20 Aug 2014, 08:18 PM


Typical people caught in a bubble. Buy at the top, then ride it down down down. This is the same strategy Shadow is employing to sabotage his future. Sure sydney medians have gone up, driven by the ones that sold at the top end to wealthy Chinese, and by homes sold after extensive renovations. But not cheap rentals the like of which shadow owns.

He never admits that in his bullshit drivel but we call all read between the lines. By the time he figures it out he will be 20% behind the market with no way to exit without incurring a huge debt. That's the IO Loan trap by the way shadow, you still owe the same amount you borrowed all those years ago and all that rent has gone to some fatcat banker as a yearly bonus :lol :lol
Yes , this is the unfortunate situation many will be left in.

They were sold the lie, not the dream they thought it would be. I think they are the lucky ones as they have got out early. Its the ones that hang on the longest that risk losing the most.


Kalgoorlie is just a macro of the over all Australian economy. It was good while it lasted.


Quick, buy now or be priced out FOREVER

Now is a good time to buy.

Its always a good time to buy.

You can't lose.

Prices double every seven years.

So do rents.

Why not buy two......or three......and pay interest only to maximise your leverage into wealth.

Im rich....... ;)




"REPLY WITH QUOTE" Go to top
 
Guest
Unregistered

Its different here :bye:

Hows the sale going on those two Kalgoorlie IPS Timmy ?

Where for art thou now timmeh .........


http://img1.wikia.nocookie.net/__cb20130303111526/jamesbond/images/2/25/Dr._Evil_%28Austin_Powers%29.png
"REPLY WITH QUOTE" Go to top
 
Perthite
Member Avatar


Port Hedland Median down 510k from peak.

Wonder what the real value is. Something tells me we will find out soon enough.
Profile "REPLY WITH QUOTE" Go to top
 
van
Member Avatar


So you are saying those who had a deposit of 50k to buy a 500k property won't have 500k extra in equity in 7 years time???

Gument needs to do something.

Profile "REPLY WITH QUOTE" Go to top
 
Steve99
Default APF Avatar


Perthite
20 Aug 2014, 07:31 PM
How long till rent falls in Perth trigger sales like this...

http://www.afr.com/p/national/mining_towns_lose_boom_time_lustre_NnrR3QwecfDbG7stdXI31M
The article quoted

''Two years ago in Port Hedland, the median house price was $1.5 million. High rents linked to high demand in the pivotal port town created around a 10 to 11 per cent rate of rental return for savvy investors.''

How come every speculator is called ''savvy investor'' regardless of the outcome? Every single potential rentable property around where I live in Melbourne is marketed a suitable for the 'savvy investor' not the dickhead that wants to go feral with his SMSF or the get rich quick Cword with a paint brush.

My interpretation of RE adds runs as such:

' Lucky Dickead wanted, no money sense required'
Rundown poorly built shack for sale,
A unique one bedroomed donga, only of only 50 on the block
Cant go wrong.
only at the unrepeatable price of
offers over $750K+++
inspect Saturday 11am - 11.05am
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Fully Featured & Customizable Free Forums
Learn More · Sign-up Now
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply
  • Pages:
  • 1
  • 3



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