I disagree, Perth appears busy as any other city , I see no slow down in day to day acitivty.
Perhaps it has slowed down in regional towns in the North but Perth appears as busy as normal. While not Booming, it is certainly a good pace of economic activity going on.
You need to open your eyes and look around.
Yes, and 70% of people still had jobs in the great depression also, so what were they whinging about?
People don't stop eating food, even in a recession. If anything, they eat more food (cheap thrills) and buy less high end items (TVs and whatnot).
I look around and I see the high-end electronic retailers running sale after sale, but the KFC across the road is booming.
------------------------------ " ... which is that all-too-familiar dynamic in Irish life where people tell lies, cover them up and create all sorts of collateral damage, sometimes spread out over decades, and never take responsibility." - Alan Glynn
It is setting up the next undersupply phase, which will be some years away. Australian iron ore miners are stepping up production. Obviously they are confident of putting some of their global rivals out of business. The low prices suit efficient miners.
They will increase market share at lower prices.
FMG could be gobbled up in the process.
Interesting times I must say.
It is pretty safe to assume now that from here on in for the next few years construction will be contracting in every form in WA.
Office and apartment multi-storey projects will basically be non existent in 18 months.
Perthite better get his finger out & stop baby house sitting.
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.
It is pretty safe to assume now that from here on in for the next few years construction will be contracting in every form in WA.
Office and apartment multi-storey projects will basically be non existent in 18 months.
Quote:
WA surge in new home building
WA is in a residential building boom, with the State on track to build a record number of new homes this year, according to a peak housing body.
The Housing Industry Association has forecast that construction will begin on 28,000 new homes this year, up nearly 30 per cent from 2012.
Quote:
Mr Gelavis said the impact of this year's boom would not be as dire as the previous one because there was less competition for workers after a softening in the mining sector.
But there was a slight shortage of bricklayers.
Shortages were also expected in wet trades as well as roofers within months.
Mr Gelavis said it could cause a slight blowout in building times, which currently averaged 32 weeks per home.
But despite the massive jump in new homes this year, Mr Gelavis said the State was set for a long-term undersupply of homes.
You never read the articles you post. This is a seriously good news story.
You and Veritas are like two rabbits sitting stunned by the headlights of a housing construction boom with absolutely no idea what is coming your way. Look up what he means by "dire" it is dire for those needing to buy or build a home and dire due to the booming house prices witnessed at this time.
Ned Flanders
25 Aug 2014, 09:57 PM
Yes, and 70% of people still had jobs in the great depression also, so what were they whinging about?
People don't stop eating food, even in a recession. If anything, they eat more food (cheap thrills) and buy less high end items (TVs and whatnot).
I look around and I see the high-end electronic retailers running sale after sale, but the KFC across the road is booming.
Oh for goodness sakes how can you seriously compare an economy with billions of dollars worth of new mines, massive energy exports, agricultural exports etc etc with the great depression?
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
The affordable home initiatives put in place by the WA government - to their credit - will surely help temper the slowdown WA is facing. I'm not yet convinced that it will be enough though.
You never read the articles you post. This is a seriously good news story.
Quote:
"Mr Gelavis said the impact of this year's boom would not be as dire as the previous one because there was less competition for workers after a softening in the mining sector.
But there was a slight shortage of bricklayers.
Shortages were also expected in wet trades as well as roofers within months.
Mr Gelavis said it could cause a slight blowout in building times, which currently averaged 32 weeks per home.
But despite the massive jump in new homes this year, Mr Gelavis said the State was set for a long-term undersupply of homes.
Not sure how this is good news. The houses being built now will mainly be for existing residents, many who currently live in rented accommodation. There are fewer people coming here, so this will leave a hole in the rental market.
Yes, brickies are in short supply. Bricklaying is a feast and famine occupation and the article implies that once this current catch up boom is over, housebuilding will retreat.
I really can't see a word in this article that could be spun as positive for Perth house prices or the rental market.
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.
This Breather in the up cycle is as good as it gets for Perthite et al.
Enjoy.
Of course like the bunch of Gala's they are, all their Victory squawking that their faulty and self indulgent minds requires will mean that they wont understand what comes next.
Not sure how this is good news. The houses being built now will mainly be for existing residents, many who currently live in rented accommodation. There are fewer people coming here, so this will leave a hole in the rental market.
Yes, brickies are in short supply. Bricklaying is a feast and famine occupation and the article implies that once this current catch up boom is over, housebuilding will retreat.
I really can't see a word in this article that could be spun as positive for Perth house prices or the rental market.
Fair play for trying though.
Ok let us go through the good news one at a time 1. the title
Quote:
WA surge in new home building
This is excellent news for the construction workers coming of the mining contracts. Residential construction is much better for employment than mining construction.
Quote:
The Housing Industry Association has forecast that construction will begin on 28,000 new homes this year, up nearly 30 per cent from 2012.
30% increase that is seriously good for jobs.
Quote:
The number of applications for first home owner grants to build new homes jumped from 673 in May to more than 1050 last month.
There have not been so many applications for new home grants since the height of the mining boom in late 2009 and in early 2010.
The building boom will be good for quite some time, great for jobs.
Quote:
But despite the massive jump in new homes this year, Mr Gelavis said the State was set for a long-term undersupply of homes.
Still more new homes are needed, we should be busy busy busy building homes for a long time, excellent news.
Jimbo think back to what a residential construction boom does to GDP. This report is all good news.
Your Dire quote means dire shortages of labour, delays and rocketing building and land prices that happened the last time WA had a housing construction boom.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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.
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