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Perth Housing stock continues to fall
Topic Started: 12 Aug 2016, 02:42 PM (50,681 Views)
Rufus
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Jimbo
21 Sep 2016, 03:34 PM
Rents were extremely high in the city three years ago.
Yes I am aware of that. Understandable really.

What I'm more interested in is whether rent falls will return to the levels they really should have been at, or will they overshoot on the way down. That probably depends on the speed of the falls. If Mike and Matthew are right they could be settling now, or they could have further to fall.
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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Jimbo
21 Sep 2016, 05:02 PM
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.
It would take a true Dimshit to compare those two moments in time and declare it as a market trend in the face of all available data, particularly when the 196 rise is made up entirely of a 232 rise in the same week.

A true Dimshit who constantly wants to compare current pricing to the peak in order to identify a trend, but wants to ignore current listings vs the peak in the same manner.

A true Dimshit who claims in one breath that he sold his Warnbro methlab at the PEAK in August 2014 only to then constantly refer to the market peak as having occurred in December in the next.

You are a magpie Dimshit - you focus on only what shiny objects suit your objective and ignore what is actually happening.

What is actually happening is there are 2,758 less listings for sale than the peak, and 1,143 less listings available including rentals than the same time.

Last year at this stage listings were rising. This year they are falling.

The supply market is turning. And you are missing it because you are f***ing stupid.
Rufus
21 Sep 2016, 07:19 PM
Yes I am aware of that. Understandable really.

What I'm more interested in is whether rent falls will return to the levels they really should have been at, or will they overshoot on the way down. That probably depends on the speed of the falls. If Mike and Matthew are right they could be settling now, or they could have further to fall.
A house like this http://reiwa.com.au/3-lintonmarc-drive-redcliffe-3510672/ would have pulled around $400 per week rent in 2010. In 2013 it would have pulled $510 max. Now they are seeking $440.

A house like this http://reiwa.com.au/14b-morgan-road-redcliffe-3827026/ would have pulled around $475 in 2010. In 2013 it would have pulled $575 - $600. Now they are seeking $525.

These houses would have attracted FIFO families when the IOCB was in full flight. They are now targeting the FIFO families operating the mines constructed.

Rents have fallen, no doubt. They are also still 10% - 15% higher than they were in 2010. And interest rates are 3 basis points lower. The loathed speculating Mum & Dad on an interest only $450k loan on houses like the above are getting around $2,600 a year more rent and paying around $13,500 less in repayments. Imagine if they pushed that money into the mortgage over the past 6 years. Including the boom time rents when interest rates were marginally higher they could have knocked off 25% of the loan the idiots.

But of course renters always win and the market is f***ed etc etc etc.
Edited by Matthew, 21 Sep 2016, 07:34 PM.
My only hope for my three boys is that they turn out nothing at all like Chris.
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Terry
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Matthew
21 Sep 2016, 07:20 PM


Rents have fallen, no doubt. They are also still 10% - 15% higher than they were in 2010. And interest rates are 3 basis points lower. The loathed speculating Mum & Dad on an interest only $450k loan on houses like the above are getting around $2,600 a year more rent and paying around $13,500 less in repayments. Imagine if they pushed that money into the mortgage over the past 6 years. Including the boom time rents when interest rates were marginally higher they could have knocked off 25% of the loan the idiots.

But of course renters always win and the market is f***ed etc etc etc.
Things sound like a bed of roses over there Uncle Matty. Must get there one of these days.
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Matthew
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Terry
21 Sep 2016, 07:52 PM
Things sound like a bed of roses over there Uncle Matty. Must get there one of these days.
Things aren't great at all. But they are better than the idiots here who claim all landlords are bleeding are trying to make out.

But please take my word for it and stay away. We have enough f***wits in this state headed by Dimshit, don't need you adding to the regressive gene pool
Edited by Matthew, 21 Sep 2016, 08:32 PM.
My only hope for my three boys is that they turn out nothing at all like Chris.
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Foxy
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Zero is coming...

Matthew
21 Sep 2016, 08:03 PM
Things aren't great at all. But they are better than the idiots here who claim all landlords are bleeding are trying to make out.

But please take my word from it and stay away. We have enough f***wits in this state headed by Dimshit, don't need you adding to the regressive gene pool
I will gold and lithium the Mathew, KDR TO YOU to.
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Terry
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Matthew
21 Sep 2016, 08:03 PM
Things aren't great at all. But they are better than the idiots here who claim all landlords are bleeding are trying to make out.

But please take my word for it and stay away. We have enough f***wits in this state headed by Dimshit, don't need you adding to the regressive gene pool
Sure Uncle Matty. Will keep my distance and will buy a tracksuit for when I ever visit.
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Matthew
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Anyway, back to the topic at hand REIWA today announce properties listed for sale are 5% lower than the same time last year.

Total listings of completed dwellings (for sale and rent) fell 60 last week after rising 155 last week. This was the result of 143 less dwellings for rent, the 8th straight weekly fall in rentals. Rentals are now their lowest in 15 weeks.

Of course this ongoing downward trend is irrelevant. It is all smoke and mirrors and the market is rooted and etc etc etc hey Dimshit?
My only hope for my three boys is that they turn out nothing at all like Chris.
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Foxy
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Zero is coming...

Matthew
22 Sep 2016, 12:41 AM
Anyway, back to the topic at hand REIWA today announce properties listed for sale are 5% lower than the same time last year.

Total listings of completed dwellings (for sale and rent) fell 60 last week after rising 155 last week. This was the result of 143 less dwellings for rent, the 8th straight weekly fall in rentals. Rentals are now their lowest in 15 weeks.

Of course this ongoing downward trend is irrelevant. It is all smoke and mirrors and the market is rooted and etc etc etc hey Dimshit?
In your own words dumb dumb, what does that mean, gold, silver and lithium.
Peter
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Jimbo
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Matthew
21 Sep 2016, 07:20 PM
Last year at this stage listings were rising. This year they are falling.
At this stage, this year, listings are rising.

14,316 according to this weeks REIWA figures.

Up by 105 in the last week.

Up by 311 in the last four weeks.

Time to re-name this thread.

Perth Housing Stock Continues To Rise.

Mike
12 Aug 2016, 02:42 PM
Perth House for sales peaked in November 2015 at 16,750 properties for sale.
You've done it again Mike.

Since you started this thread, listings have risen week on week.

14,088 when you started this thread, 14,316 today.

How do you do it?

How do you get things so wrong, so consistently?

You call tails, it comes up heads. Every time!

Uncanny!



Edited by Jimbo, 22 Sep 2016, 07:45 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.
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Mike
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Jimbo
22 Sep 2016, 07:04 AM
At this stage, this year, listings are rising.

14,316 according to this weeks REIWA figures.

Up by 105 in the last week.

Up by 311 in the last four weeks.

Time to re-name this thread.

Perth Housing Stock Continues To Rise.


You've done it again Mike.

Since you started this thread, listings have risen week on week.

14,088 when you started this thread, 14,316 today.

How do you do it?

How do you get things so wrong, so consistently?

You call tails, it comes up heads. Every time!

Uncanny!


You did not mention what level stock was at this time last year for sale, oh that's right its down 700 on the same time last year. So over the past 12 months stock on market for sale as fallen considerably.

This time last year stock for sale was 15,082. As you correctly point out it is now 14,316. Thank you for admitting stock has fallen by over 700. This same time last year stock for sale had increased by close to 4,000 properties over the last 12 months. This year it has declined by over 700 during the same length of time.

Well done, you just proved my point.

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