There seems to be a mini peak in vacancies in The middle of the year for Perth. Will be interesting to see how things pan out over the next few months. I think sale listings are going to shoot up a bit. Must be a few frustrated landlords in Perth looking to offload. With your property value falling at 5% a year and the yield falling at 10% you'd be starting to wonder whether it was worth it.
Hard to tell, but in 2014, 2015, and 2016 vacancies fell post Xmas, and we are nearing Xmas.
Take risks - if you win you will become wealthy, if you lose you will become wise
Possibly. Brisbane also sees the same trend. Rental managers tell me it's due to movements in exec staff who all get shuffled around at the beginning of the year. I know rent returns are higher if I lease out a property in January when demand is higher.
Take risks - if you win you will become wealthy, if you lose you will become wise
I might buy a wheat farm in 3 years time, gold and lithium for now.
Perth realestate, no way baby.
I can just imagine the tennants demands growing.
Clearly you are very rich Peter - you can make money lots of ways.
This does not take away your responsibility for your dreadful call of a 40% crash in Perth house prices. You were wrong full stop- be a man and admit it and then we can move on to talk about all the lovely ways the multimillionaires like yourself can make money.
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.
Clearly you are very rich Peter - you can make money lots of ways.
This does not take away your responsibility for your dreadful call of a 40% crash in Perth house prices. You were wrong full stop- be a man and admit it and then we can move on to talk about all the lovely ways the multimillionaires like yourself can make money.
Hi Skamy, I talk in a provocative way, to provoke discussion, I have placed an offer on an apartment at $1.1m, Down from its valuation of $3.8m during the boom. You tell me the percentage drop. Peter
That was a bigger and very real thing in the late 90's and early 00's. Particularly around the Unis. But a lot of these kids today have part time jobs and ties to the city. Evidence aplenty that they head home Christmas Eve and are back in town in time for New Years celebrations.
Rufus
21 Sep 2016, 12:02 AM
Hard to tell, but in 2014, 2015, and 2016 vacancies fell post Xmas, and we are nearing Xmas.
There is a clear difference this year over last in particular.
Between June 2 last year and September 15 combined rentals + completed dwellings available to buy or rent in Perth increased 618.
Same timespan this year that is a fall of 732 - market has moved the exact opposite direction by near enough to the exact same amount.
Between January 1 2015 and September 15 2015 it was a rise of 3,866 units with 2,044 additional rentals.
This year same period that is an increase of just 753 with 1,436 additional rentals
As Mike said in his OP listings are falling. It isn't an opinion, it is an undisputable fact. There are 1,143 less completed dwellings on the market than there were when it peaked in November last year. That is despite the fact that there are an additional 1,565 rentals.
Possibly. Brisbane also sees the same trend. Rental managers tell me it's due to movements in exec staff who all get shuffled around at the beginning of the year. I know rent returns are higher if I lease out a property in January when demand is higher.
Rents were extremely high in the city three years ago. You had resource companies bringing in staff from overseas and putting them up in the city.
We paid over $1100 PW for a one bedroom unit in West Perth for a visiting worker in 2013.
This created a lot of share houses among uni students and other young city workers.
As rents have fallen, more of those who were sharing are now moving into their own rental places.
"Cheaper rentals were allowing share-house tenants to move out on their own, Mr Groves said."
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.
According to REIWA, there are 424 fewer properties listed for sale and 2713 more properties listed for rent than at this time last year.
So over the last 12 months, 2289 properties have been added to the net supply.
How is that a fall in listings?
You are seeing what you want to see Dimshit and missing what is important. At this time last year listings were rising. This year listings are falling.
The fact listings were rising this time last year is not in dispute. Nor is the fact that listings are falling this year. Market for completed dwellings for sale and rent peaked November 2015. It is now falling.
You are ignoring the trend because it goes against what you need to believe.
Your ignorance will prove costly.
My only hope for my three boys is that they turn out nothing at all like Chris.
You are seeing what you want to see Dimshit and missing what is important. At this time last year listings were rising. This year listings are falling.
Sale listings according to REIWA.
4 weeks ago 14,015
Now, 14,211.
Up by 196 in less than a month.
Listings are rising Matey.
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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