Perth House for sales peaked in November 2015 at 16,750 properties for sale.
As of yesterday this has steadily fallen to 14,088 or a fall of 2,662 properties for sale. This is a fall of 16% in housing stock over the past 9 months.
What is the cause of this? You would expect if more people are leaving WA for more house to be on the market, or if sales were so bad for stock to be increasing. Sales have tracked 2015 results or been slightly above 2015.
Or is it just people taking properties of the market till they can get a better price.
Perth House for sales peaked in November 2015 at 16,750 properties for sale.
As of yesterday this has steadily fallen to 14,088 or a fall of 2,662 properties for sale. This is a fall of 16% in housing stock over the past 9 months.
What is the cause of this? You would expect if more people are leaving WA for more house to be on the market, or if sales were so bad for stock to be increasing. Sales have tracked 2015 results or been slightly above 2015.
Or is it just people taking properties of the market till they can get a better price.
Perth House for sales peaked in November 2015 at 16,750 properties for sale.
As of yesterday this has steadily fallen to 14,088 or a fall of 2,662 properties for sale. This is a fall of 16% in housing stock over the past 9 months.
What is the cause of this? You would expect if more people are leaving WA for more house to be on the market, or if sales were so bad for stock to be increasing. Sales have tracked 2015 results or been slightly above 2015.
Or is it just people taking properties of the market till they can get a better price.
Interesting, thanks.
I do notice that sales volume is down aprox 15% from last that snapshot in Nov also... so despite the drop in stock, the drop in demand has almost matched it.
Not sure what we can conclude from this information with any great certainy, other than to suggest that sometime mid/late next year might be a buying opportunity... heck, today might be one
If sales volume rises, and stock does not flood back in, the boat may be tooting it's horn, ready to leave.
As of yesterday this has steadily fallen to 14,088 or a fall of 2,662 properties for sale. This is a fall of 16% in housing stock over the past 9 months.
What is the cause of this? You would expect if more people are leaving WA for more house to be on the market, or if sales were so bad for stock to be increasing.
Things is Mike, you neglect to mention that properties for sale are still higher than they were a year ago. Only by 300, but still up on a year ago.
And you totally forgot to mention the 3000 increase in the number of available rentals since this time last year.
Quote:
Sales have tracked 2015 results or been slightly above 2015.
And according to RP Data, prices are down by 6.64%.
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.
Perth House for sales peaked in November 2015 at 16,750 properties for sale.
As of yesterday this has steadily fallen to 14,088 or a fall of 2,662 properties for sale. This is a fall of 16% in housing stock over the past 9 months.
What is the cause of this? You would expect if more people are leaving WA for more house to be on the market, or if sales were so bad for stock to be increasing. Sales have tracked 2015 results or been slightly above 2015.
Or is it just people taking properties of the market till they can get a better price.
Great post, i would say it is simple economics how so you ask, well,,
it costs money to be on the real estate websites, no??
The owners as dumb as they are get nervous when they know that their property is way over priced and that no offers anywhere near the asking, (mining boom fueled) has materialised.
So the agent say he dumb dumb, pony up.
Dumb dumb says whoo there cowdude, you want marketing money, no way.
So slowly the stock disappears, to come back on latter when the market improves and we have a once in a century mining boom
Perth House for sales peaked in November 2015 at 16,750 properties for sale.
As of yesterday this has steadily fallen to 14,088 or a fall of 2,662 properties for sale. This is a fall of 16% in housing stock over the past 9 months.
What is the cause of this? You would expect if more people are leaving WA for more house to be on the market, or if sales were so bad for stock to be increasing. Sales have tracked 2015 results or been slightly above 2015.
Or is it just people taking properties of the market till they can get a better price.
Great post, i would say it is simple economics how so you ask, well,,
it costs money to be on the real estate websites, no??
The owners as dumb as they are get nervous when they know that their property is way over priced and that no offers anywhere near the asking, (mining boom fueled) has materialised.
So the agent say he dumb dumb, pony up.
Dumb dumb says whoo there cowdude, you want marketing money, no way.
So slowly the stock disappears, to come back on latter when the market improves and we have a once in a century mining boom
It was you who was dumb Peter - selling good Mt Lawley property in the middle of a downturn and expecting another 40% price crash. That is what I call dumb.
It is sensible to remove a sale from a bad market - people's homes are their biggest investment, why throw them away in a low confidence market unless they are upgrading?
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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