Rents fall in Perth and Canberra - RP Data September Quarter Rental Review; Melbourne +2.6, Darwin +1.5%, Hobart +1.5%, Adelaide +1.4, Sydney +1.0%, Perth -2.7%, Canberra -2%
Tweet Topic Started: 16 Oct 2014, 10:05 PM (4,077 Views)
And maybe its only 1/3 now ,but it has to start somewhere, it does not all happen at once.
Rents are falling in Sydney , that's all you need to know
Right, rents might only be rising in 2/3 of suburbs now, but what about when this boom spreads, soon we could have rents rising in 100% of Sydney suburbs, and by even more than the current rate of 5% per annum! Sucks to be a renter, rocks to be a landlord.
You do realise that even if rents stay the same the inflation reduces the real rental return. So a drop in nominal is a big deal.
A 1 percent drop per year would be a considerable drop in real rental return after just a few short years.
If we get Japan style deflation it is going to hurt some people. Peter
I still can't get over i just started saving $600 per month on one of my loans.
My average interest rate is now around 6.15%
Wow
Peter
Peter this is true for everyone. Everyone who bought on higher interest rates is finding life easier. Why do you still think that house prices will drop in Perth. You would not easily sell up you Margaret River property at a loss, what set of circumstances do you believe would cause you to do this?
Do you really believe that people in Perth will be selling their biggest asset at a loss in a hurry?
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.
Right, rents might only be rising in 2/3 of suburbs now, but what about when this boom spreads, soon we could have rents rising in 100% of Sydney suburbs, and by even more than the current rate of 5% per annum! Sucks to be a renter, rocks to be a landlord.
But I am landlord, and have been for over ten years.
Two weeks ago , I dropped the rent for the first time ever.
Where on every single yead I have owned it, the rent has gone up every single year.
What many of you fail to see, is that our economy is falling apart.And the reality is,on a scale we have never seen before,shown clearly with the closure of ford and holden for starters.
Dont know what is it you cannot understand that our wages are to high. Thats why our unemployment recently hit twelve year highs.
You cannot obtain a mortgage if you don't have a job. You also cannot pay your current mortgage or rent if you lose your job. And many small buisinesses are putting off full time workers and replacing them with two part time workers so they dont have to pay holiday and sick pay and all the other red tape bullshit that has been forced upon them making it nesr impossible to make any money. So we are seeing where one full time job is being replaced with two or three part time ones. So it makes the numbers look better than they really are. You cannot pay your mortgage,obtain one or pay rent with part time jobs. It has been clearly explained over the years and could not be any clearer than what we are seeing now. And to add too all this, we also have record building going on in everycapital city now, so the fun and games are just beginning.
You could bring in more migrants, but if don'thave jobs for them, they just become more of a burden on the tax payer and economy. Bringing more migrants to the US to have a population of well over 300 million did not stop the economy or house prices dropping. Where in California, house prices are 20% cheaper than ten years ago in 2004. And this is with have zero rates for the last six years and an extra 10 trillion pumped in since 2008, and yet still it will not work.
Only the blind ignorant could not see what is going on by now.
Zero rates and trillion after trillion in stimulus now into its seventh year are simply not working anymore. All part of the cycle right.
But I am landlord, and have been for over ten years.
Two weeks ago , I dropped the rent for the first time ever.
Where on every single yead I have owned it, the rent has gone up every single year.
What many of you fail to see, is that our economy is falling apart.And the reality is,on a scale we have never seen before,shown clearly with the closure of ford and holden for starters.
Dont know what is it you cannot understand that our wages are to high. Thats why our unemployment recently hit twelve year highs.
You cannot obtain a mortgage if you don't have a job. You also cannot pay your current mortgage or rent if you lose your job. And many small buisinesses are putting off full time workers and replacing them with two part time workers so they dont have to pay holiday and sick pay and all the other red tape bullshit that has been forced upon them making it nesr impossible to make any money. So we are seeing where one full time job is being replaced with two or three part time ones. So it makes the numbers look better than they really are. You cannot pay your mortgage,obtain one or pay rent with part time jobs. It has been clearly explained over the years and could not be any clearer than what we are seeing now. And to add too all this, we also have record building going on in everycapital city now, so the fun and games are just beginning.
You could bring in more migrants, but if don'thave jobs for them, they just become more of a burden on the tax payer and economy. Bringing more migrants to the US to have a population of well over 300 million did not stop the economy or house prices dropping. Where in California, house prices are 20% cheaper than ten years ago in 2004. And this is with have zero rates for the last six years and an extra 10 trillion pumped in since 2008, and yet still it will not work.
Only the blind ignorant could not see what is going on by now.
Zero rates and trillion after trillion in stimulus now into its seventh year are simply not working anymore. All part of the cycle right.
Good one Sock boy.
Delusion is the only tool left to the defeated bears.
But I am landlord, and have been for over ten years.
Two weeks ago , I dropped the rent for the first time ever.
Where on every single yead I have owned it, the rent has gone up every single year.
You deliberately mislead re your status as a landlord - you have said many times, you own no residential property. What you claim to own is a commercial property, light industrial if I recall. Whatever is or is not happening re rent on such a property, it will have nothing whatsoever to do with rental trends on residential property.
For Aussie property bears, "denial", is not just a long river in North Africa.....
Tenants living in Melbourne's trendy inner-north are digging deeper to pay the rent, with Fitzroy leading the city's price boom.
Four of the 10 suburbs with the greatest growth in rents over the past 12 months are just north of the Yarra, clustered around the cusp of the city.
The top 10 suburbs for rising median lease prices are Fitzroy, Waterways, Toorak, Alphington, Carlton North, Hampton East, Werribee South, Beaconsfield, Kew and Brunswick, according to Domain Group data.
The increase in rent is in line with the rise in property sale prices and the scarcity of lease options in the sought-after inner-north, said Domain economist Dr Andrew Wilson.
It's been interesting what's been happenning in South Melbourne lots of townhouse stuff going on & it's getting really pricey but people are snapping them up ..I've noticed .
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.
Tenants living in Melbourne's trendy inner-north are digging deeper to pay the rent, with Fitzroy leading the city's price boom.
Four of the 10 suburbs with the greatest growth in rents over the past 12 months are just north of the Yarra, clustered around the cusp of the city.
The top 10 suburbs for rising median lease prices are Fitzroy, Waterways, Toorak, Alphington, Carlton North, Hampton East, Werribee South, Beaconsfield, Kew and Brunswick, according to Domain Group data.
The increase in rent is in line with the rise in property sale prices and the scarcity of lease options in the sought-after inner-north, said Domain economist Dr Andrew Wilson.
Have these rents even kept up with Inflation since the GFC .
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