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Perth house sales drop while prices rise
Topic Started: 2 Nov 2014, 03:51 PM (2,100 Views)
Blondie girl
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Jimbo
2 Nov 2014, 11:05 PM
Got that already. Engineering degrees don't fall off trees you know.

A million plus in the bank doesn't happen by accident.

I didn't sell my (fully paid for) very nice house on a whim.

Better stick with Warnbro then.

:z:
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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What has happened is that they took away the first time buyer grants for existing homes and they also reduced the price levels for stamp duty deductions. So FTB have moved to buying more new builds which will not show in the price data for months if not years. There was a decrease in FTB sales of existing homes as there was a spike before the grants etc were removed.

The reduced price at which the stamp duty deductions kick in has increased the number of sales below this price leading to a slight reduction in the FHB price.

There was an increase however in the more expensive sales ie the upgrader market.

There has been an increase in unit sales as there has been an increase in unit developments but again this will not show in the Landgate prices for quite some time. So it is not investors selling at all these are off the plan sales.

Perth is a very mixed market with Mount Lawley growing at 6.8% for the quarter (sorry Peter from Perth) and most of Mandura rising well eg Dawesville 2.6% on the month quarter 14% on the year.

The truth is that it is still difficult to see what is happening as this data is for the winter quarter and the changes to the FHB grants have just kicked in.

So nothing to get exited about.


Edited by skamy, 3 Nov 2014, 12:17 AM.
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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Blondie girl
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Veritas
2 Nov 2014, 10:51 PM
What does the fact that the median price for a first time buyer property has dropped twenty thousand dollars in two months?

Thats the equvalent of what many FTBs could save in a year.

Any thoughts on the matter?

Or rather, what is THE TRUTH?
Do you honestly think that some who have stuck it out for the very long term & have been established in locations with zoning thats conducive to multi-residential dwellings will bail out easily? Just holding & maintaining.

You have got to be kidding. :lol


You should be more concerned at what you can afford, yet you keep waiting..waiting ..chicken little. Hoping for some price drops ?
Yet you still will whine how it's overpriced.

I don't think you've got it veritas, the time will never be right for you.
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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Veritas
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Blondie girl
3 Nov 2014, 12:18 AM
Do you honestly think that some who have stuck it out for the very long term & have been established in locations with zoning thats conducive to multi-residential dwellings will bail out easily? Just holding & maintaining.

You have got to be kidding. :lol


You should be more concerned at what you can afford, yet you keep waiting..waiting ..chicken little. Hoping for some price drops ?
Yet you still will whine how it's overpriced.

I don't think you've got it veritas, the time will never be right for you.
Yeah, yeah.

If I had bought a median price property in June it would have cost me 470k

If I had waited until September to buy at the median price, 450k

20k. Two months.

Wonder what the savings are now?
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
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Blondie girl
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peter fraser
2 Nov 2014, 11:32 PM
House prices in Perth may turn down and if they do I'm sure you will crow about it, but until then I'll stick with Core Logic who have experience over many countries and track a lot more house sales than you do.

You decided to sell your house and convert the proceeds to gold. That was risk that you took and you will reap the rewards or pay the price and that's as it should be.
Each to their own.

I once had a land sales consultant tell me that a 3x1 old house located in Joondanna (this was my first NG) was not going to be worth my while.

He was an ex BF, I ditched him fortunately...

He was wrong, very wrong.

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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Jimbo
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peter fraser
2 Nov 2014, 11:32 PM
You decided to sell your house and convert the proceeds to gold. That was risk that you took and you will reap the rewards or pay the price and that's as it should be.
I am not a mug. I didn't sell my house and convert the proceeds to gold. The cash from my house sale is still in cash. My gold holdings are over and above that.

I am already in a position where I can buy 10% more house for 10% less money.

Like I said before, I didn't do any of this on a whim.

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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Veritas
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Quote:
 
What has happened is that they took away the first time buyer grants for existing homes and they also reduced the price levels for stamp duty deductions. So FTB have moved to buying more new builds which will not show in the price data for months if not years. There was a decrease in FTB sales of existing homes as there was a spike before the grants etc were removed.


Ah the penny has dropped.

Falling demand equals falling prices.

Except there is far more at work here than the reorientation of a grant.



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
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Jimbo
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skamy
3 Nov 2014, 12:13 AM
Perth is a very mixed market with Mount Lawley growing at 6.8% for the quarter (sorry Peter from Perth) and most of Mandura rising well eg Dawesville 2.6% on the month quarter 14% on the year.



Dawesville growing in price?

Find any property for sale in Dawesville that isn't listed lower than it was bought for in the last seven years.

Go on.
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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Foxy
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Zero is coming...

When the penny finally drops that houses are a money pit, that just keep sucking the money out of the owners pockets.

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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Blondie girl
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Veritas
3 Nov 2014, 12:33 AM


Ah the penny has dropped.

Falling demand equals falling prices.

Except there is far more at work here than the reorientation of a grant.


Veritas
So do you have a game plan?

What suburbs are you eyeing off?
What can you afford?

What prop type?

I'm wasting my time you are not going to say zilch bachelor , you are better off finding an apartment just pay the strata & shut up, no garden to worry about, no repairs to retic to dirty those hands ...


Oohh
You waiting for it to go down more.... Can understand the strategy.

But it still won't be good enough...for you.

Old house? Holy craps on earth are you going to maintain it? :lol you really don't seem to be a handy Andy type, better get your caffeine fix from the local cafe that's going to your neighbor in your 1brm piece of oz.

Edited by Blondie girl, 3 Nov 2014, 12:55 AM.
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.
Profile "REPLY WITH QUOTE" Go to top
 
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