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Perth sales surge; No of sales up 17% on the month and 7% y/y
Topic Started: 16 Oct 2014, 10:42 AM (13,351 Views)
Drgonzo
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skamy
16 Oct 2014, 11:23 AM
Jimbo this is a low number of listings a steady market is above 12,000.

When the market picks up the listings rise as people become confident to buy and sell again. Don't you recall the huge property sections during the boom times. People were afraid that too much stock would hit the market this spring but that has not yet happened. Maybe all the negative talk has caused people to wait awhile.

It is a good sales result and shows that Perth is far from down and out as some of the more extreme Perth bears would have us believe.
is the increase in sales proportionate to the increase in listings ? doesnt look like it boss.
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skamy
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Mustapha Mond
16 Oct 2014, 11:16 AM
Yes sales are up along with the number of listed properties??

I think some of the pent-up demand is the reason for the sales.

But listings keep rising and oh so many empty properties.

Are you from Perth??

Peter
Yes I live in Perth and I do a bit of property stuff, just finished a subdivide and sold one the first day for a great price. I am renting the other.

Actually rental listings ave dropped for the last two weeks check it out


should I sign off

Skamy from Perth :)
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.
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Jimbo
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skamy
16 Oct 2014, 11:23 AM
Jimbo this is a low number of listings a steady market is above 12,000.

OK, so why was the number of listings last year, way below the steady market level of 12000?

Are you conceding that we were not in a steady market a year ago?

If we are not in a steady market, then we must be in an unsteady 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.
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skamy
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Drgonzo
16 Oct 2014, 11:29 AM
is the increase in sales proportionate to the increase in listings ? doesnt look like it boss.
Listings and sales are not in sync, sales take a while to occur.
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.
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Jimbo
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skamy
16 Oct 2014, 11:34 AM
Listings and sales are not in sync, sales take a while to occur.
Nice chatting to you.

I offer my advice on this historic day and my advice is to liquidate.

It is only advice however. It is not a prediction.


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.
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skamy
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Jimbo
16 Oct 2014, 11:43 AM
Nice chatting to you.

I offer my advice on this historic day and my advice is to liquidate.

It is only advice however. It is not a prediction.

My property investments are now all long term. I can always wait out a downturn but it will cost me big time to get out and back in if the market rises. Most of the time the market rises. I am not a gambler, I could not live with the stress.

Fair play to you if your speculation pays off, but I just don't have the constitution for too much risk taking. So I will be sitting with my portfolio for a good while, everything is rented and will do me just fine for the present.


Why is this a historic day?

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.
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Foxy
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Zero is coming...

skamy
16 Oct 2014, 11:30 AM
Yes I live in Perth and I do a bit of property stuff, just finished a subdivide and sold one the first day for a great price. I am renting the other.

Actually rental listings ave dropped for the last two weeks check it out


should I sign off

Skamy from Perth :)
Ok,

I agree the number of sales appears to be very healthy.

Rentals on the other hand are definatly softening.

Good luck.

I would say the Perth market has more down side risk at this time than upside potential.

I will not be buying for at least 12 months.

On the other hand i will be adding to my Margaret River project.

Just drove down yesterday, the amount of road works between here and Perth is impressive.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Mike
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peter fraser
16 Oct 2014, 10:45 AM
And the prices?

If prices are still going up then this is a tale of people buying in.

If prices are falling then it's a tale of people selling out.

Which is it?
http://www.rpdata.com/research/daily-indices.html

RP data just hit the highest rating on record for Perth.

Perth was down over 1.5% a month ago on RP data, since then Prices have rebounded over 2.5% to be up over 1% this month.

Solid start to the spring buying season, which is what I warned of a few months back.
skamy
16 Oct 2014, 11:15 AM
Just having a bit of fun Peter, making a big show of some data. The sales data is good but it could be due to one or two big development sale who knows. It certainly shows that market is not crashing quite yet as the bear would have us believe.

Some prices are going good others not so good. Suburbs like Crawley are really bad, but nearby Swanbourne and Claremont are growing strongly.

Lots of work is coming down the track, new residential home sales has been booming. I doubt very much the bears will get their crash.
I think what Is starting to happen is house prices are reflecting the large increase in land prices.

Land prices have increased by $40,000 in recent months which over time will filter through to higher house prices. The huge amount of construction at present also plays a part.

Construction is that strong I still cannot get bricklayers for my project, waiting over two weeks now, no one can do it everyone is booked out. Frustrating.
Jimbo
16 Oct 2014, 11:43 AM
Nice chatting to you.

I offer my advice on this historic day and my advice is to liquidate.

It is only advice however. It is not a prediction.

So other advice from Jimbo recently.

Quote:
 
Jimbo7 Sep 2014, 09:38 AM

Maybe you are expecting a spring bounce but I can't think of a reason for one.

All the new building happening is going to increase supply while at the same time, migration is falling. Rental vacancies are up by a third since last spring.

Economic conditions are very different to a year ago.


Yes Spring is certainly doing very well at present, I called it right.

Quote:
 
Jimbo6 Sep 2014, 08:49 PM
Mike,

You started this thread to create the impression that residential construction was going to save WA and that everything was looking rosy in the property market.

Mining doesn't matter, rental vacancy rates are falling and house prices will go up another 5%.

You started this thread to try and spruik the market because you believe that your words have that power.

You are a deluded wannabee economist with a half baked idea of how the world works and you believe that people read what you say and take it seriously.

Strange.


So far I have been spot on, since you made this famous statement prices have surged up 2.7% as they were negative at the time. I made the call prices would rise when they were falling based on all the information I was seeing. You got it wrong and sold at the wrong time, prices are still rising as I said they would. Who is the deluded wannabee economist not with half baked ideas?

Quote:
 
Jimbo6 Sep 2014, 06:41 AM
Like the bullshit you have posted in this thread?




You are trying to squeeze 5% more from the market so that you can break even.




What, like your 2.5% fantasy vacancy rate?




Who is "us all". I haven't lied, you have just decided that I have lied. You are a nutter.

Meanwhile Mike, what about yesterdays NFP print.

How does that sit with your predictions for the US economy?

ha ha ha


Jimbo tends to get nasty when he dost not like what he reads.


Edited by Mike, 16 Oct 2014, 12:44 PM.
http://mike-globaleconomy.blogspot.com.au/
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Blondie girl
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Notice this ..
There's differences in the supply of properties listed for sale between the North & South of the River suburbs, take note of the suburbs & differences. between them.



I've been checking the Rivervale & Dianella areas for a little while, it depends how realistic the vendors have been in their aking price. Properties that are development potential for zoning more homes are getting snapped up very quickly.

That Dianella property?.. In 86 Homer st ..I didn't get the chance to inspect it....yet a few streets away there's a townhouse on a triplex set up struggling to sell quickly.
You cannot say that this suburb is hotter thn the other it does depend on the property type & it's location & or development potential.

I've been looking at other NOR burbs, homes that are quality built, not in a crappy area are being snapped up by Mr & Mrs Average.

Oh & building houses...the time it takes? well it depends who you know .

Well there's a home that I see being built since April, it's going full steam ahead, the owners will be in before this Xmas...(single storey).. No not my parents but by a crappy Son of the local Re agent...blah ! He's told me so much crap that he's done the opposite of what he was planning.... :to: ?.both are RE agents .. Just as bad as each other.... They dislike me coz I didn't ok their over the top parapet wall neighboring my IP..but they're not stupid they've split up the block & built on 1 side for now & will do the usual liv in it to avoid CG.. So one does learn & have an understanding what people even if you don't like them ..should take notice of what they're doing.

Anyway, there's some agents that can useful in sourcing the interesting properties thats relevant to you ..so remember that..you use them but you don't trust them.
There's good & bad agents..can't bag them all.

Edited by Blondie girl, 16 Oct 2014, 01:00 PM.
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.
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skamy
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Mustapha Mond
16 Oct 2014, 12:09 PM
Ok,

I agree the number of sales appears to be very healthy.

Rentals on the other hand are definatly softening.

Good luck.

I would say the Perth market has more down side risk at this time than upside potential.

I will not be buying for at least 12 months.

On the other hand i will be adding to my Margaret River project.

Just drove down yesterday, the amount of road works between here and Perth is impressive.

Peter
I reckon you got a great deal on that property in the Margaret river. I think the Margaret river will be Perth's Noosa down the track. It is a fabulous place. However, I would not write off Perth either, there is, as you say, lots happening and there should be no reason to worry about jobs data etc for quite some time.

Land sales are rising and listings are falling so it is very likely that land prices will be continuing to rise.

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.
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