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
There is no doubt that prices will soften while the market is oversupplied. The question is by how much? And for how long? Listings are falling. Construction has gone to shit. Population is still rising. Does not take a math-magician to see that this will not last too much longer.
But it does seem to have perplexed good ol Dimshit of Warnbro.
My only hope for my three boys is that they turn out nothing at all like Chris.
There is no doubt that prices will soften while the market is oversupplied. The question is by how much? And for how long? Listings are falling. Construction has gone to shit. Population is still rising. Does not take a math-magician to see that this will not last too much longer.
Listings are rising, construction is down by a third, population growth is down by more than a third.
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.
Combined listings are down 60 in a week. 127 in 4 weeks. 791 in 8 weeks.
Rental listings are down 143 last week. 383 in 4 weeks. 712 in 8 weeks.
There are less houses available for current and new citizens of Perth to live in than there were 1, 4 or 8 weeks ago. Listings are not rising. They are falling.
My only hope for my three boys is that they turn out nothing at all like Chris.
Combined listings are down 60 in a week. 127 in 4 weeks. 791 in 8 weeks.
Rental listings are down 143 last week. 383 in 4 weeks. 712 in 8 weeks.
There are less houses available for current and new citizens of Perth to live in than there were 1, 4 or 8 weeks ago. Listings are not rising. They are falling.
Sales listings are rising Matey.
They have risen since Mikey started this thread.
Rental listings have dropped a bit, but they have dropped from an extremely high number to an almost as extreme high number.
There are 2547 more rentals available than a year ago when the market was already heavily over supplied.
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 is no doubt that prices will soften while the market is oversupplied. The question is by how much? And for how long? Listings are falling. Construction has gone to shit. Population is still rising. Does not take a math-magician to see that this will not last too much longer.
Hang in there Uncle Matty. If the maths magicians turn out to be little more than pumped-up charlatans trying to influence your behavior, you can always put on your tracksuit and balaclava and glass one of them in the pokies rooms.
There are 2547 more rentals available than a year ago when the market was already heavily over supplied.
Last year net listings were rising. This year net listings are falling.
It isn't open to interpretation Dimshit, there are less liveable dwellings on the market today than there were 1, 4, 8 weeks ago. The market has started to turn. Simple as that.
Mike is right, Dimshit is wrong. but none of this matters, world is f***ed, sand dunes will be the new demand housing item and etc. Right?
Rentals have fallen 9 weeks in a row now by an average of 91 a week. Pattern anyone? Anyone? No Dim, not you.
So what you are saying is that sales listings are up by 63 in the last week and by 276 since Mikey started this thread.
Rental listings are down a bit over the month, but still up by 2405 on this time last year.
This time last year, the rental market was in the doldrums due to a saturated market, this year it is 2405 properties more saturated.
So, sales listings continue to rise, rental listings are still at all time record highs for this time of year.
Thanks for clearing that up Matey.
Matthew
30 Sep 2016, 02:14 AM
Rentals have fallen 9 weeks in a row now by an average of 91 a week. Pattern anyone? Anyone? No Dim, not you.
The pattern being that only a complete moron would buy an IP in Perth right now (unless they want to leave it empty).
Not much new rental stock being added.
Still, with 2.5 times the decade average of available rentals and population growth on the skids, those 10,691 currently available will last quite a long time 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.
In September 2016 net dwellings on the market (for sale and rent) dropped 104. In September 2015 they increased 884. Last year there was more stock coming on the market at this time. This year total stock is falling.
The residents of Perth shopping for a house to buy or rent have 1,621 less options available to them than this time last year.
That is what I am saying Dim. The market has turned. The oversupply has peaked. Simple.
No Brainer. It was obviously the biggest mining town in Australia. Prices were always going to fall and will keep going down for some time. I have plenty of friends who have left there and a few who can't sell .
Matthew
30 Sep 2016, 11:43 AM
In September 2016 net dwellings on the market (for sale and rent) dropped 104. In September 2015 they increased 884. Last year there was more stock coming on the market at this time. This year total stock is falling.
The residents of Perth shopping for a house to buy or rent have 1,621 less options available to them than this time last year.
That is what I am saying Dim. The market has turned. The oversupply has peaked. Simple.
Are you an agent? Stock?? Sounds like you'd call it a market turnaround if the number was 1
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy