What should be understood is the market.. what is well located and cheaper than before, but price wont stay the same constant. I have only responded to you lately when you choose to be civil to me, but I don't think much of you and I stand by that.
*no exact perfection in defining definite timing of market bottom* Get your region narrowed down and look carefully at what bang for the $.
The question is how low can it really really go?
Hi Blondie, i spoke to a chap who just leased his 3 bedroom unit in Mount Lawley, he dropped it $50 per week.
The one next door is still empty, the owner is playing hard ball.
He says the tenants made him an offer and told him he had to make a quick decision or they would take another unit.
Peter, I do think that if one is realistic with the rental rate , the prop is well maintained, there will be less delay in renting out the prop.
A friend of my hubs who specialises in renting and doing up units in East Perth has been hit hard, in rent drops (has old units not newish).
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.
Peter, I do think that if one is realistic with the rental rate , the prop is well maintained, there will be less delay in renting out the prop.
Of course this is true. You do your places up, drop your rent a bit to meet the market and get tenants.
This forces others to do the same which is deflationary to rents and is what has been happening for the last couple of years in Perth.
It also discourages would be investors from buying IP's.
My local RE friend says that IP buyers have pretty much disappeared over the last six months.
This may well reduce the overall level of available rentals but I suspect that a lot of the apartments currently being built are IP's so there may well be more stock to come onto the rental market over the coming months.
There are currently roughly 20,000 units of housing under construction in Perth which is enough to house 50,000 people (@2.5 per unit).
As everyone who is currently here has somewhere to live (either owning or renting), when those 20,000 units are completed, they will add to the total housing supply less any units required to accommodate population growth.
Current net population growth is just over 20,000.
With the resources construction slowdown not yet over and residential and commercial office construction set to hit the skids, job opportunities in WA will become harder to find.
This will further reduce the incentives for would be migrants to make WA their state of choice.
What can the WA government do to stimulate things?
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.
You are looking at raw listings which include under offers under contract and sold. Real estate agent often dont bother to remove listings that have been removed if they have paid for them. http://reiwa.com.au/the-wa-market/perth-metro/ is the data which is used to look at the market and if the figure on this site gets down to the 12Ks then we are in a sellers market in Perth.
foxbat
29 Aug 2016, 07:07 PM
I have heard a new unit block in East Perth is being used by a government department to house the homeless, $100 p.w.
Imagine buying off the plan, paying $1m for your unit and your next door neighbour is Paying $100 per week.
Peter
Peter those reductions are off huge rents which were much better than Sydney or Melbourne in terms of yield. You are moaning and complaining about a drop in rents to levels that any Sydney investor would be happy to get.
You are stuck in a doomster paradigm and you cannot smell the roses.
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.
http://reiwa.com.au/the-wa-market/perth-metro/ is the data which is used to look at the market and if the figure on this site gets down to the 12Ks then we are in a sellers market in Perth.
Any evidence of that Skammy?
Are you basing this on a population growth rate of 80,000 pa during a mining boom with rental vacancies of less than 1%?
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.
Are you basing this on a population growth rate of 80,000 pa during a mining boom with rental vacancies of less than 1%?
No I am basing it on 12000 properties available for sale in a city of over 2m people. Particularly a city which has been stagnant for a decade.
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.
No I am basing it on 12000 properties available for sale in a city of over 2m people. Particularly a city which has been stagnant for a decade.
So no evidence then. Just a number pulled out of your bum.
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.
My local RE friend says that IP buyers have pretty much disappeared over the last six months.
Dim you live in a crime fuelled low socio economic shithole 30km from the CBD. I am amazed investors ventured that far south of Gosnells in the first place.
With the market oversupplied and prices softening is it even remotely surprising to you that investors look to better areas that will deliver better capital growth and rental yields in the future that the meth fuelled stolen car hoon filled streets of Warnbro?
In other news the sun will rise in the east tomorrow. Don't tell anybody though just yet, but when it happens be the one to announce it on here ok?
My only hope for my three boys is that they turn out nothing at all like Chris.
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