Funny that they have no problem saying sales are up7% yoy in the headline . But left out the FACT there is now 25% more property for sale.
So this really implies that sales on average are falling when compared to the amount on offer.
Let have a closer look at what the vested interests would have us believe, and, what is the TRUTH.
This shows that a year ago , for example, we were selling 70 properties per 100 .
Now a 7% increase yoy for which they claim, would mean they are now selling 75 per 100, and that is what they would have us believe, but they did not tell us about the extra 25% more property on the market, and left the most important bit out.
So the facts are these.
A year ago we were selling 70/100. Now we are selling 75/125. Last year shows a clearance rate of 70%. This year shows a clearance rate of 60%.
So they are the facts,not the bullshit these vested interest morons would have idiot sheep believe as they leverage into the next overpriced piece of shit, for which rents are being slammed and eventually prices once these sheep wake up to the FACTS, not the constant bullish being dribbled in their ear by vested interest morons.
So them the FACTS Mike.
They were clearing 70% of property a year ago, but are now only clearing 60%.
Going by this example .
Sales have actually decreased by over 14% when the increase in property is added, yet they claim an increase of 7%.
Going by this example, and the initial clearance example of 70%, if we add the amount of extra property that has come onto the market and compare it with the higher amount of sales from last year, being and extra five sales for every 25 properties now listed,Of the extra property now coming on the market as oppossed to last year, this shows any new property coming on is only selling at the rate of 20 per 100,instead of 70 per 100 last year.
So the actual heading here should be, 'Perth sales tanking fast'. Not the bullshit portrayed by vested Interests trying to fool the sheep.
Its amazing how they twist the numbers, add in what they like, and completely ignore and discard what they don't like, or what might reveal the truth in the headline.
But a closer look as we can see spells the facts out very loud and very clear.
Can anyone show how infilling housing density creates more affordable housing therefore preventing house price to income ratios increasing especially if demand is increasing at same time?
If you use a backyard of a single home to build units each unit will be less expensive than the original home and hence affordable on a lower income.
If this is not done then only high income people can buy the original home. Alternatively multiple families will live in the large home. To a certain degree income has to rise in cities with expensive housing, but overall the trend is that when cities grow eventually the land space use is maximised and the price to income grows. So what is essentially happening is that there are increasing numbers of low income families unable to purchase in the city.
The median house in Sydney requires 9 times the median income. So only people with an income of twice the median value can afford to purchase a median home (or a second or third home buyer).
In London, Paris etc people on lower incomes buy in satellite towns or live in overcrowded council flats.
Guest
21 Oct 2014, 06:28 AM
Funny that they have no problem saying sales are up7% yoy in the headline . But left out the FACT there is now 25% more property for sale.
So this really implies that sales on average are falling when compared to the amount on offer.
Let have a closer look at what the vested interests would have us believe, and, what is the TRUTH.
This shows that a year ago , for example, we were selling 70 properties per 100 .
Now a 7% increase yoy for which they claim, would mean they are now selling 75 per 100, and that is what they would have us believe, but they did not tell us about the extra 25% more property on the market, and left the most important bit out.
So the facts are these.
A year ago we were selling 70/100. Now we are selling 75/125. Last year shows a clearance rate of 70%. This year shows a clearance rate of 60%.
So they are the facts,not the bullshit these vested interest morons would have idiot sheep believe as they leverage into the next overpriced piece of shit, for which rents are being slammed and eventually prices once these sheep wake up to the FACTS, not the constant bullish being dribbled in their ear by vested interest morons.
So them the FACTS Mike.
They were clearing 70% of property a year ago, but are now only clearing 60%.
I think you ave matched the wrong data, there is a delay between listing and sales. You will not know the number of sales from the increased listings for a month or so.
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.
Funny that they have no problem saying sales are up7% yoy in the headline . But left out the FACT there is now 25% more property for sale.
So this really implies that sales on average are falling when compared to the amount on offer.
Let have a closer look at what the vested interests would have us believe, and, what is the TRUTH.
This shows that a year ago , for example, we were selling 70 properties per 100 .
Now a 7% increase yoy for which they claim, would mean they are now selling 75 per 100, and that is what they would have us believe, but they did not tell us about the extra 25% more property on the market, and left the most important bit out.
So the facts are these.
A year ago we were selling 70/100. Now we are selling 75/125. Last year shows a clearance rate of 70%. This year shows a clearance rate of 60%.
So they are the facts,not the bullshit these vested interest morons would have idiot sheep believe as they leverage into the next overpriced piece of shit, for which rents are being slammed and eventually prices once these sheep wake up to the FACTS, not the constant bullish being dribbled in their ear by vested interest morons.
So them the FACTS Mike.
They were clearing 70% of property a year ago, but are now only clearing 60%.
Hi you should register, i think you could bring an element of reality to this motley crew.
2.3% Growth in the past month. Sure seems like a spring surge.
Do you not consider 2.3% growth to be a solid spring rebound when annualised that is 27.6%. Not that I think it will be sustained over such along time but just to prove my point at how quick prices moved in the last month.
Now tell me, how did I know this would happen despite you, Jimbo and Perthite telling me I was wrong, yet it turns out I was right yet again. How is that.
I have been looking for a little 2 bed duplex or townhouse in Perth. Over the last month. I have observed the following !) More stock on the market 2) More properties selling 3) So many empty properties with no tenants in sight.
Now that is the observation.
My take on this is the following.
1)Pent up demand for property is being met by increased supply. (i think this is a very good market people can buy and sell) 2) Renters are buying their own place and leaving the state or moving in with someone else after losing their very high paying job in the mining industry(reducing demand). 3) New builds are relatively cheap, (increasing supply).
In summary the super heated steam in the Perth market is slowly dissipating.
On a personal note i have an offer on the table to buy a property in Margaret River and look to put in 3 more offers in the next week or so.
2.3% Growth in the past month. Sure seems like a spring surge.
Do you not consider 2.3% growth to be a solid spring rebound when annualised that is 27.6%. Not that I think it will be sustained over such along time but just to prove my point at how quick prices moved in the last month.
Now tell me, how did I know this would happen despite you, Jimbo and Perthite telling me I was wrong, yet it turns out I was right yet again. How is that.
As always mike you quote an irregularity as a fact, and then crawl away when it is shown to be so. I can hadly be bothered refuting you anymore.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
If you use a backyard of a single home to build units each unit will be less expensive than the original home and hence affordable on a lower income.
If this is not done then only high income people can buy the original home. Alternatively multiple families will live in the large home. To a certain degree income has to rise in cities with expensive housing, but overall the trend is that when cities grow eventually the land space use is maximised and the price to income grows. So what is essentially happening is that there are increasing numbers of low income families unable to purchase in the city.
The median house in Sydney requires 9 times the median income. So only people with an income of twice the median value can afford to purchase a median home (or a second or third home buyer).
In London, Paris etc people on lower incomes buy in satellite towns or live in overcrowded council flats. I think you ave matched the wrong data, there is a delay between listing and sales. You will not know the number of sales from the increased listings for a month or so.
How does this make it more affordable? A new unit created for example will still be the same price as all the other units that previously existed it is no more affordable for anyone it is the same price for what you got previously. How are you getting something better for a lower price than previously?Please explain. Of course they will be cheaper than the original home you are getting less land but that is not comparing like with like. The people that would by the original home would not by the units and vice versa. The price to income only grows because the councils and govt stop opening up land and want to constrain the urban boundaries. In places like Dallas, Atlanta this does not happen and prices remain low. WHy cannot OZ do this?
Skamy, can you name one city that has constrained urban boundaries and had more housing infill that has created more affordable housing ie a lower house cost to income ratio?
We know your like a wild animal protecting their young............but Seriously!
This is too funny.....you are that vested and blinded by your debt to the eyeballs that it has transmuted you.
You have transmuted into some type of bull creature from the island of doctor moreau.
If so blinded, why did I make the right call in predicting prices would rise now when all you bears kept saying it would fall and keep falling. How did you get it so wrong.
I know the answers as to why you got it so wrong, the question is do you and the other bears.
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