Welcome Guest [Log In] [Register]


Reply
Perth Construction Boom
Topic Started: 4 Sep 2014, 10:01 AM (9,611 Views)
Elastic
Member Avatar


Mike
12 Sep 2014, 01:01 PM

Anyone else have any insights into why Rentals are renting strongly, Property sales are strong. I wonder if it could be anything to do with lots of people having jobs and work. That runs counter to what the bears are trying to tell us all.

With the continuing fall in rental prices, more people are moving rentals after their lease expires resulting in a higher turnover of rentals.
Renters also have a greater choice of properties than they did previously so are more likely to move.
The number of properties being let has not increased as a proportion of total properties for rent, given that total rentals are up 50% on last year.
Pick one.
Edited by Elastic, 12 Sep 2014, 04:22 PM.
Only a rat can win a rat race.

Profile "REPLY WITH QUOTE" Go to top
 
Jimbo
Member Avatar


Mike
12 Sep 2014, 01:01 PM
Another week and the trend continues

Stock on market continued to fall with sales outstripping supply.

But is up on this time last year by 11.2% or 1031 properties.
Quote:
 
Sales are up on the same period as last year. Sales are up 7% for this same period last year.


Yes Mike, a whole 53 properties more than the same week last year. Of course, 7% sounds a lot better than 53 houses.

Meanwhile Mike, why not tell everyone how Qtr on Qtr we are down 0.25% on RP price data?

Quote:
 
Rental stock continues to fall with 847 properties rented in the past week up from 599 at the same time last year. Rentals properties are being rented at a rate that is 41% higher then this same time last year.


But rental stock on market is 33.3% (EDIT 50%) higher than last year. Also, rents are cheaper. Why not mention that?

F.O.S. Mike.






Elastic
12 Sep 2014, 02:14 PM
With the continuing fall in rental prices, more people are moving rentals after their lease expires resulting in a higher turnover of rentals.
Renters also have a greater choice of properties than they did previously so are more likely to move.
The number of properties being let has not increased as a proportion of total properties for rent, given that vacancy rates are up 50% on last year.
Pick one.
I am paying 10% less than the leaseholder who was renting prior to me.

I initially inquired about the property I am now renting when I put my own place up for sale and it was still available six weeks later when I was ready to move.

I rented in Perth in 2007 and I was treated like a starving Somalian waiting for grain to be thrown from the back of an aid truck.

This year I was treated like royalty.

Times have changed.

Edited by Jimbo, 12 Sep 2014, 02:59 PM.
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
 
skamy
Member Avatar


Veritas
12 Sep 2014, 01:53 PM
Mike you left out properties on the market which is higher ( by about 1,000 properties) than this time last year.

Any particular reason for the omission?
Veritas we all try to tell you what is happening in the real world but you never want to listen. Things will not play out the way you think because you have made a long odds bet on the market and that is just a fact.

The property market is just being resilient the way it always has.
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.
Profile "REPLY WITH QUOTE" Go to top
 
Veritas
Default APF Avatar


skamy
12 Sep 2014, 03:00 PM
Veritas we all try to tell you what is happening in the real world but you never want to listen. Things will not play out the way you think because you have made a long odds bet on the market and that is just a fact.

The property market is just being resilient the way it always has.
Hark! the forum laughing stock arrives. :re:

Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Profile "REPLY WITH QUOTE" Go to top
 
Jimbo
Member Avatar


skamy
12 Sep 2014, 03:00 PM
Veritas we all try to tell you what is happening in the real world but you never want to listen. Things will not play out the way you think because you have made a long odds bet on the market and that is just a fact.

The property market is just being resilient the way it always has.
According to my calculations. Leeds is 7 hours behind Perth so you are on holiday in the UK and posting on here at 5am in the morning Perth time.

Either you are experiencing a really late night drinking with the rellies or a really early morning hangover.

Whatever, I agree, Veritas is talking about the the real world in which you and Mike don't seem to reside.

He stated
Quote:
 
But is up on this time last year by 11.2% or 1031 properties.


So if in your drunken or freshly awakened state you believe that increased supply is good for prices, I would understand. You are on holidays after all. Totally detached from reality.

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
 
Perthite
Member Avatar


Mike
12 Sep 2014, 01:01 PM
Another week and the trend continues

http://reiwa.com.au/home/

Stock on market continued to fall with sales outstripping supply.

Sales are up on the same period as last year. Sales are up 7% for this same period last year.

Rental stock continues to fall with 847 properties rented in the past week up from 599 at the same time last year. Rentals properties are being rented at a rate that is 41% higher then this same time last year.

So both sales are higher then this time last year and rentals properties are renting at a much faster rate then this time last year. Either WA is still having strong population growth with jobs to match or how could we have so many properties sold and rented at the same time.

Normally if we have stronger sales, rental properties slow down in its growth. We are seeing both at the same time.

What these figures do show is those who claim properties are not renting is plain false, the data shows this.

Anyone else have any insights into why Rentals are renting strongly, Property sales are strong. I wonder if it could be anything to do with lots of people having jobs and work. That runs counter to what the bears are trying to tell us all.

I call bullshit.

http://reiwa.com.au/About-Us/News/Perth-market-steady-in-August,-but-sales-slump/

Sales are down. Find me an article saying otherwise for a month or quarter this time last year.

They have been tailing off for over 9 months now.

A week does not a month or quarter make.
Profile "REPLY WITH QUOTE" Go to top
 
Jimbo
Member Avatar


Perthite
12 Sep 2014, 04:33 PM
I call bullshit.

http://reiwa.com.au/About-Us/News/Perth-market-steady-in-August,-but-sales-slump/

Sales are down. Find me an article saying otherwise for a month or quarter this time last year.

They have been tailing off for over 9 months now.

A week does not a month or quarter make.
Mike changes his tune to match the song he wants to sing.

He uses percentages to make numbers sound bigger or smaller than they really are.

He has to.

He is borrowing money to build units and he is betting on price growth to give him a margin profit.

His whole scheme falls apart when prices stand still or fall backwards (as they are now).

Mike is trying his hardest to spruik the market and I don't blame him for trying.

I would be doing exactly the same if I was stupid enough enough to get into his position.
Edited by Jimbo, 12 Sep 2014, 05:19 PM.
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
 
Perthite
Member Avatar


As population growth continues to slump there will be a lot of small time developers who will need to go get a job.
Profile "REPLY WITH QUOTE" Go to top
 
newjez
Member Avatar


Mike
12 Sep 2014, 01:01 PM
Another week and the trend continues

http://reiwa.com.au/home/

Stock on market continued to fall with sales outstripping supply.

Sales are up on the same period as last year. Sales are up 7% for this same period last year.

Rental stock continues to fall with 847 properties rented in the past week up from 599 at the same time last year. Rentals properties are being rented at a rate that is 41% higher then this same time last year.

So both sales are higher then this time last year and rentals properties are renting at a much faster rate then this time last year. Either WA is still having strong population growth with jobs to match or how could we have so many properties sold and rented at the same time.

Normally if we have stronger sales, rental properties slow down in its growth. We are seeing both at the same time.

What these figures do show is those who claim properties are not renting is plain false, the data shows this.

Anyone else have any insights into why Rentals are renting strongly, Property sales are strong. I wonder if it could be anything to do with lots of people having jobs and work. That runs counter to what the bears are trying to tell us all.

I'll bet the days are getting longer too?
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
 
Mike
Default APF Avatar


Elastic
12 Sep 2014, 02:14 PM


Pick one.
Quote:
 
With the continuing fall in rental prices, more people are moving rentals after their lease expires resulting in a higher turnover of rentals.


That would not result in a fall in stock as one property is rented while another is back on the market. Stock declined.

Quote:
 
Renters also have a greater choice of properties than they did previously so are more likely to move.


That would not result in a fall in stock.


Veritas
12 Sep 2014, 01:53 PM
Mike you left out properties on the market which is higher ( by about 1,000 properties) than this time last year.

Any particular reason for the omission?
It is in the link provided for all to see.

Do I need to post every bit of data in every post to satisfy you, is a link not sufficent so you and other can read the data source yourself?



Edited by Mike, 12 Sep 2014, 07:41 PM.
http://mike-globaleconomy.blogspot.com.au/
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Join the millions that use us for their forum communities. Create your own forum today.
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