Welcome Guest [Log In] [Register]


Reply
Perth hits 11,000 vacant rental properties. How much could Perth rents fall?
Topic Started: 2 Apr 2016, 05:18 AM (180,364 Views)
Jimbo
Member Avatar


Been grinding slowly upwards for the last month.

Up from 6,600 in 16 months.

Edited by Jimbo, 2 Apr 2016, 08:24 AM.
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
 
InveSta
Unregistered

Wtf - it was only 10000 a month ago, why the acceleration I wonder.

The Perth market seems to be in a slow melt
"REPLY WITH QUOTE" Go to top
 
Guest
Unregistered

InveSta
2 Apr 2016, 08:10 AM
Wtf - it was only 10000 a month ago, why the acceleration I wonder.

The Perth market seems to be in a slow melt
A surge in building completions is starting to hit the market. Statistics show this should start rising rapidly all the way till the end of the year. From there they will still be coming on quite fast, just not as fast as 2016 according to stats.

While I have noticed lately rent falls appear to have slowed from the pace of the last three years, the amount of rental property will continue to push rents down. And with so much property coming on, and so much decline, there is every chance the falls could accelerate again.

What sort of discounts are people out there seeing ?

As people start offloading these severly underperfoming properties, some big discounts will appear just as we are seeing with rents.

Until there is a floor in rents, you cannot guage the true price of the property as rental return is a large factor for an investment property. At the moment Perth rents have been falling for over three years now and still no end in sight.

Good luck all, things are about to get VERY messy.

Prepare for a rush for the exits.
"REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

InveSta
2 Apr 2016, 08:10 AM
Wtf - it was only 10000 a month ago, why the acceleration I wonder.

The Perth market seems to be in a slow melt
As Foxbat and others predicted and posted for all to see.

Bow to Foxbats bung hole. :D

Supply and demand is a firm master.


https://youtu.be/OmGo3pW7Oag

But he has a trainer for you, Mathews being the village idiot you go first. :D

Remember an empty property has all the costs and NO rent.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
Trollie
Member Avatar


foxbat
2 Apr 2016, 11:32 AM
As Foxbat and others predicted and posted for all to see.

Bow to Foxbats bung hole. :D

Supply and demand is a firm master.


https://youtu.be/OmGo3pW7Oag

But he has a trainer for you, Mathews being the village idiot you go first. :D

Remember an empty property has all the costs and NO rent.

Peter
You also predicted no one would be able to get their hands on any tucker in 2009.
Profile "REPLY WITH QUOTE" Go to top
 
hidflect
Member Avatar


InveSta
2 Apr 2016, 08:10 AM
Wtf - it was only 10000 a month ago, why the acceleration I wonder.

The Perth market seems to be in a slow melt
Because people trotting down to the PM's office to realise their fantasy windfall and sell that 412m2 for $700k have been told honestly by their agent that their dream price is unrealistic. And since they're so emotional about their investment (breaking the first rule of investing) they've decided to rent out the property instead of face reality. Just until things "recover". This allows them to lull themselves to sleep at night still believing they'll get the return they deserve on that crapshack in Dianella which is far more soothing than facing reality.

Of course, this is a dumb move because when they return to market a year from now the prices will only be lower. How can I be so sure? Inventory is rising. And a very experienced agent told me himself, "Just look at the inventory level. That tells you everything". We are not at the bottom heading into recovery. The pitch downwards has just started. The smart money in my street is getting out now. 4 home opens today! And 2 more properties also for sale on top of that. Nothing like a little competition to drive the price the right way, eh?
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

Trollie
2 Apr 2016, 11:53 AM
You also predicted no one would be able to get their hands on any tucker in 2009.
Care to elaborate???

I think you are holding back.

But first, read this

http://nyccah.org/learn-about-hunger/hunger-new-york-city


Your not a Perth "Bull" are you.

Peter
Trollie
2 Apr 2016, 11:53 AM
You also predicted no one would be able to get their hands on any tucker in 2009.
http://www.perthnow.com.au/realestate/news/perth-wa/perth-house-price-slump-worst-in-australia-as-national-growth-slows/news-story/601086dedb5c9b9d2669f44328e3275a


http://www.smh.com.au/business/japans-hunger-becomes-a-dire-warning-for-other-nations-20080420-27ey.html


http://www.londonfoodbank.ca/learn/hunger-awareness/


Edited by Foxy, 3 Apr 2016, 12:20 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
Jimbo
Member Avatar


1st rental on the list on realestate.com.au (number 1 of 11,153, 8,369 listed as available now).

Now being offered at $440 per week down from $510 per week last year.

Looks like they tried to sell the place last year as well.

Posted Image
Edited by Jimbo, 6 Apr 2016, 05:30 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
 
Foxy
Member Avatar
Zero is coming...

Jimbo
6 Apr 2016, 05:28 PM
1st rental on the list on realestate.com.au (number 1 of 11,153, 8,369 listed as available now).

Now being offered at $440 per week down from $510 per week last year.

Looks like they tried to sell the place last year as well.

Posted Image
Supply and demand baby.

Peter

Remember 11,500 properties plus all the others not listed, getting no rent at all.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
kodiak
Default APF Avatar


This is shaping up to be a bloodbath. And IO has a long way to play out.
Profile "REPLY WITH QUOTE" Go to top
 
2 users reading this topic (2 Guests and 0 Anonymous)
DealsFor.me - The best sales, coupons, and discounts for you
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