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Perth Housing stock continues to fall
Topic Started: 12 Aug 2016, 02:42 PM (50,693 Views)
Matthew
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Jimbo
12 Sep 2016, 04:59 PM
What was the exchange rate 2002 to 2007?
What does that have to do with house prices falling 10% in 2010 / 11 during a mining boom with high migration vs house prices rising 13% in 2012 / 13 during the exact same mining boom with the exact same high migration?

You are getting desperate. And pathetic. Bot not coming across as any bit intelligent.
My only hope for my three boys is that they turn out nothing at all like Chris.
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dachopper
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people see 6% or 7% rental vacancy, and comment on how the world is going to end....

6-7% vacancy, means 93 - 94% occupancy, and that is pretty dam good.

Just had another 6 week booking at 8,5% yield Perth going Gangbusters !
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Matthew
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dachopper
12 Sep 2016, 11:39 PM
people see 6% or 7% rental vacancy, and comment on how the world is going to end....

6-7% vacancy, means 93 - 94% occupancy, and that is pretty dam good.

Just had another 6 week booking at 8,5% yield Perth going Gangbusters !
Shhhhh. Don't talk logic or common sense. You will confuse Dimshit and Drunkbat.

Somehow I have survived the massive slump with out a single days vacancy or rent drop of any note. It is a shit storm out there I tell.

Well if you live in shitsville (Methbro) at any rate.
My only hope for my three boys is that they turn out nothing at all like Chris.
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Rufus
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dachopper
12 Sep 2016, 11:39 PM
people see 6% or 7% rental vacancy, and comment on how the world is going to end....

6-7% vacancy, means 93 - 94% occupancy, and that is pretty dam good.

Just had another 6 week booking at 8,5% yield Perth going Gangbusters !
it's 5.2 and climbing.

It's not what I would call a good number.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Matthew
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Rufus
13 Sep 2016, 12:18 AM
it's 5.2 and climbing.

It's not what I would call a good number.
Depends on what side of the fence you sit on.

When we had 1.6% vacancy rate in Perth a few years ago people were trying to out bid each other on houses I wouldn't put a dying dog in. People were turning to short stay (caravan park) accommodation on exorbitant nightly rates because they could not find a place at all. $350 a week for BYO accommodation and shared showers.

It was a social disaster.

Remember that not every tenant out there is a smug sanctimonious arsewipe like Dimshit or Veritarse thinking they will rent their way to riches when the property crash finally arrives. Most of the tenants out there are societies most vulnerable. Students on low or no wages, long term unemployed, minimum wage earners, pensioners who have been unable to buy in their lifetime, young families whose childs arrival have halved their income.

For these people it is very positive. And just because it is positive for them does not mean it is negative for their landlords. Interest rates are at record lows. Rents are still above levels they were when interest rates were higher. Well located investments realistically priced still rent.

I see more positives in the current rental market than negatives for those in need. The vacancy rate has taken away the speculator assisting those who want to buy, and there is plenty of choice for those in genuine need.

The problem I see with the entire Australian property debate is the two extremes. People like Dimshit who want misery inflicted on the masses so that they can get a cheap house for their personal benefit, and the masses who want misery inflicted on Dimshit so that they can get rich in a hurry.

It is possible that all can win.

Not that such a thing will ever get aired on a forum like this.
My only hope for my three boys is that they turn out nothing at all like Chris.
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Rufus
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Matthew
13 Sep 2016, 12:35 AM
Depends on what side of the fence you sit on.

When we had 1.6% vacancy rate in Perth a few years ago people were trying to out bid each other on houses I wouldn't put a dying dog in. People were turning to short stay (caravan park) accommodation on exorbitant nightly rates because they could not find a place at all. $350 a week for BYO accommodation and shared showers.

It was a social disaster.

Remember that not every tenant out there is a smug sanctimonious arsewipe like Dimshit or Veritarse thinking they will rent their way to riches when the property crash finally arrives. Most of the tenants out there are societies most vulnerable. Students on low or no wages, long term unemployed, minimum wage earners, pensioners who have been unable to buy in their lifetime, young families whose childs arrival have halved their income.

For these people it is very positive. And just because it is positive for them does not mean it is negative for their landlords. Interest rates are at record lows. Rents are still above levels they were when interest rates were higher. Well located investments realistically priced still rent.

I see more positives in the current rental market than negatives for those in need. The vacancy rate has taken away the speculator assisting those who want to buy, and there is plenty of choice for those in genuine need.

The problem I see with the entire Australian property debate is the two extremes. People like Dimshit who want misery inflicted on the masses so that they can get a cheap house for their personal benefit, and the masses who want misery inflicted on Dimshit so that they can get rich in a hurry.

It is possible that all can win.

Not that such a thing will ever get aired on a forum like this.
I admire your passion, but 5.2 and rising is not a happy number for an aspiring IP buyer, although if they use that info they should be able to get a handsome discount that more than mitigates the potential cash flow issue.

IMHO it's buying time in Perth, & it will stay that way for maybe 12 months.
Take risks - if you win you will become wealthy, if you lose you will become wise
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conork
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Where's a good place to buy? I used to live in the city so I'm familiar with west perth. Also looking at East perth for yield.

If you can buy close to the bottom and availability starts to tighten you should do very well.
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Matthew
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Rufus
13 Sep 2016, 12:54 AM
I admire your passion, but 5.2 and rising is not a happy number for an aspiring IP buyer, although if they use that info they should be able to get a handsome discount that more than mitigates the potential cash flow issue.

When the market gets hard investors look to the locations people want to live in.

If you purchased this for example http://reiwa.com.au/32-alexandra-place-bentley-3804771/ close to Curtain uni, the city, jobs and so on you could get a 5% gross yield in todays market for land value only. Develop when the market picks up. Laughing.

This offers 5% http://reiwa.com.au/25-westlake-street-wilson-3811258/ a little less than land value. Build a $300k house on it finished to a high standard and you can sell for $800k in todays market.

Both you could almost guarantee 100% occupancy if you priced realistically.

But if you buy this http://reiwa.com.au/5-enlie-lane-warnbro-3828564/ you will get a gross yield of 3.5% at most if rented all year, which it wont be. Then there is increased risk of default on payment, and the increased risk of a meth lab blowing your "investment" into the sky. The for sale sign should say "As Seen On THE FORCE".

Because it is 50km from the city in a shit suburb full of crime and unemployment.

Central suburbs are blue chips, just like shares. Outlying shitholes are penny stocks just like shares. Sure sometimes a shit stock triples in value briefly before falling back to earth. But the quality stocks offer consistent growth and dividends. That is what investors look for. Speculators look for rocket ships to the moon. Not my style.

Quote:
 
IMHO it's buying time in Perth, & it will stay that way for maybe 12 months.
I agree. Wait much longer and you will miss out.
My only hope for my three boys is that they turn out nothing at all like Chris.
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dachopper
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conork
13 Sep 2016, 01:06 AM
Where's a good place to buy? I used to live in the city so I'm familiar with west perth. Also looking at East perth for yield.

If you can buy close to the bottom and availability starts to tighten you should do very well.
Mate - North Coogee development if you want capital growth, They have a few billion in developments planned over the next 10 years, including something like 10,000 new housing, businesses, schools, the list is huge....
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Matthew
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conork
13 Sep 2016, 01:06 AM
Where's a good place to buy? I used to live in the city so I'm familiar with west perth. Also looking at East perth for yield.

If you can buy close to the bottom and availability starts to tighten you should do very well.
I have always said buy within 10km of the CBD but not 3km. Be close but not too close.

West Perth and East Perth are excellent locations but expensive and risky.

For an investment I would be looking close to the city, freeway, beach, shops, airport, river, universities, hospitals, free education and jobs plentiful inside a 30 minute drive.

For me Brentwood is the one right now.

Poor mans Mount Pleasant. RHS Zoned. River, Garden City, Fremantle, City, Freeway, 3 major universities, central to jobs. Down 10% in the past year.
Edited by Matthew, 13 Sep 2016, 01:22 AM.
My only hope for my three boys is that they turn out nothing at all like Chris.
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