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!
Your magpie ability is uncanny Dimshit. Yet again you focus only on the bit that gives you a semi and ignore the entire market.
You have spent nearly 6 months cocking on incessantly about rising rentals in the face of falling listings. Now listings are ticking up a tiny bit you want to completely ignore that rental are falling.
However Dimshit as I keep saying (and from time to time when it suits you choose to acknowledge and even embrace) if you want to look at the health of the Perth property market look at for sale and for lease.
All dwellings for sale and lease fell again last week. Down 60. This was off the back of 143 less rentals. Available rentals have fallen 8 straight weeks by a total of 712.
In the same 8 weeks listings for sale have increased 250.
Since Mike started this thread total inhabitable stock on market has decreased from 22,928 to 22,629.
Listings are falling. Mike was right, you remain clueless.
You have spent nearly 6 months cocking on incessantly about rising rentals in the face of falling listings. Now listings are ticking up a tiny bit you want to completely ignore that rental are falling.
The OP says nothing about rental listings and only mentions sales.
Since the OP, sales listings have risen.
But if you want to talk about rental listings, there are many reasons for rental listings to fall and most of them have nothing to do with green shoots of recovery.
1. High rental availability has made buying an IP unattractive. 2. Lower rents have made renting your own place an attractive alternative to house sharing. 3. Landlords are chucking in the towel.
The Perth market is in record territory for rental vacancies. It was in record territory a year ago and since then it has added 2547 more available places to rent.
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.
So now properties for sale are 5% below last year and rentals have fallen 564.
Actually Matey, rentals have increased by 2547 since last year.
And while were at it, WA has seen its lowest March quarter population growth number since 2004.
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.
So, if the trend continues you may hit your magic 12000 around the end of 2020, which is about when I said the earliest prices would turn is.
Thanks for proving my point Matt.
Again look at all of the dynamics not just the one that warms your knob newjez.
Sitting behind these falling listings is a population still growing (slowly but still growing) coupled with all time low land sales. 5,200 blocks of land sold in 90 weeks. That should provide plenty of housing shouldn't it.
Jimbo
22 Sep 2016, 03:37 PM
Actually Matey, rentals have increased by 2547 since last year.
And houses for sale have fallen 790.
But the peak wasn't this time last year Dimshit. No the peak last year was November. And this year net listings are falling where as last year they were rising. The market has turned. You missed it. Watch now as property prices wave at you on their way back up past where you sold while you still scratch your head and try to figure out how the bleeding obvious occurred.
You continue to only want to talk about the shiny side of the coin. It is hilarious. You are making Simon look intelligent and that guy is dumber than Peter.
Again look at all of the dynamics not just the one that warms your knob newjez.
Sitting behind these falling listings is a population still growing (slowly but still growing) coupled with all time low land sales. 5,200 blocks of land sold in 90 weeks. That should provide plenty of housing shouldn't it. And houses for sale have fallen 790.
Sales listings have risen over the last month Matey.
And as discussed before, land sales reflect demand, not the other way around.
We are not in the UK where houses are built and then sold. This is WA. People buy a block and build a house on it and slow land sales relect slow demand.
They also reflect the increase in apartment dwelling as an option.
How many REIWA recorded block sales lead to a 100 apartment complex in East Perth 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.
There have been more sales .. But they are cheaper .. Rpdata not looking flash for the quarter.. Friends telling me Real estate agents openly state is a falling market and suggesting buyers to bid 5% to 10% below ask when they view a property.. Stock may be finally churning through, but it's going through cheaper as sellers look to get out. Remember for upgraders losing 10% on their cheaper house is absorbed with money to spare by the 10% discount they've bargained for on the house they are upgrading to .. Many sellers just wanting to dump their current property to get into the ring above them that suddenly became accessible
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