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Perth Housing stock continues to fall
Topic Started: 12 Aug 2016, 02:42 PM (50,678 Views)
herbie
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mango66
30 Sep 2016, 11:46 AM
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 .
Hey Mango! Welcome back - Did you score any work over that way yourself?
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Matthew
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mango66
30 Sep 2016, 11:46 AM
Are you an agent?
No

Quote:
 
Stock??
What one word would you use to describe the net movement of houses both for sale and rent on the market?

Quote:
 
Sounds like you'd call it a market turnaround if the number was 1 :D
No.
My only hope for my three boys is that they turn out nothing at all like Chris.
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Blondie girl
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herbie
30 Sep 2016, 11:56 AM
Hey Mango! Welcome back - Did you score any work over that way yourself?
It still needs a decent podiatrist.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Jimbo
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Matthew
30 Sep 2016, 11:43 AM
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.
There are 834 fewer places for sale and 2405 more places to rent than this time last year.

So there are in fact 1571 more choices for the people of Perth than a year ago.


Matthew
30 Sep 2016, 11:43 AM
Last year there was more stock coming on the market at this time. This year total stock is falling.
Stock for sale is rising this year as well Matey.

Rental stock has fallen back a bit but currently sits at a record high for this time of year.

Never before has Perth started an October with well over 10,000 rentals available. There are 2405 more rentals available than a year ago. Last year, we also entered October with an unprecedented high number of rentals.

I can't imagine many people will be rushing out to buy IP's over the coming months.
Edited by Jimbo, 30 Sep 2016, 03:12 PM.
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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USianinPerth
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Jimbo
30 Sep 2016, 03:05 PM
There are 834 fewer places for sale and 2405 more places to rent than this time last year.

So there are in fact 1571 more choices for the people of Perth than a year ago.



Stock for sale is rising this year as well Matey.

Rental stock has fallen back a bit but currently sits at a record high for this time of year.

Never before has Perth started an October with well over 10,000 rentals available. There are 2405 more rentals available than a year ago. Last year, we also entered October with an unprecedented high number of rentals.

I can't imagine many people will be rushing out to buy IP's over the coming months.
Yet look at all the ongoing apartment construction downtown and detached cookie-cutter housing developments in and around Butler / Yanchep. I took a drive through Yanchep over the weekend and it was sell sell sell as far as the eye could see. Yet there the newly finished mall was nearly benefit of customers and houses nearly everywhere seemed empty.

Perhaps there are fewer listings but there sure is a lot of unoccupied housing out there.
https://www.youtube.com/watch?v=9S2TO_beqKg]
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newjez
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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.
Hope so, as my brother can't sell one of his houses, but I doubt it.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Dawn Fraser
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Perth market is worse off compared to a year ago but has stabilised recently. Unfortunately still over supplied and savings running out and capitulation not far now for many owners. :bye: sorry
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newjez
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Dawn Fraser
30 Sep 2016, 08:37 PM
Perth market is worse off compared to a year ago but has stabilised recently. Unfortunately still over supplied and savings running out and capitulation not far now for many owners. :bye: sorry
Not till next financial year. They are happily writing off loses against the last of their mining wages.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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mango66
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herbie
30 Sep 2016, 11:56 AM
Hey Mango! Welcome back - Did you score any work over that way yourself?
Hey Herbie yeah going good although 2016 hasn't been the best year. Been working away in Canberra
And back up QLD now trying to get my roots back into work :)
Blondie girl
30 Sep 2016, 02:45 PM
It still needs a decent podiatrist.
For sure blonde.... Might tone it down 8-)
Matthew
30 Sep 2016, 12:54 PM
No


What one word would you use to describe the net movement of houses both for sale and rent on the market?


No.
Stock to me refers to a warehouse.... Definitely not suburbia. It's there the problem lies. It's a house and should never have been
Used as a tax advantage. It's creating a generation of renters and becoming a worrying problem for many Australians..
I think encouraging investment into property has had no positive effects. Debt is a slow death
and killing discretionary spending.
Edited by mango66, 3 Oct 2016, 12:09 PM.
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Matthew
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mango66
3 Oct 2016, 11:58 AM
Used as a tax advantage. It's creating a generation of renters and becoming a worrying problem for many Australians..
I think encouraging investment into property has had no positive effects. Debt is a slow death
and killing discretionary spending.
In Utopia everyone would buy a house the day that they leave home and there would be no rental properties whatsoever. Unemployment would be 0.00% and Dimshit would ride a unicorn that craps gold bars too and from his office every day.

But the reality is very different to Utopia isn't it?

Kids leaving home inevitably rent a house with their mates for a few years once they enter the workforce. Young couples usually rent together before buying a house. Divorcees usually rent at least one house on the breakdown of their marriage. Low income earners and the unemployed usually rely on rental accommodation.

New migrants to the country tend to rent as they settle, regional people sending their kids to Uni prefer them not to live on the street, and student accommodation on site or in Nedlands is expensive and competitive.

Companies rely on the rental market for relocating employees at all levels of the organisation.

So if it does not fall to the private investor who will meet this demand? The State Government? Think about the State Governments in Australia taking up 100% of rental demand. How much would that cost? What could they better do with that money in terms of infrastructure, schools, hospitals and services? And not just the upfront costs, the rates, land tax, R&M?

The fact is that State and Federal Governments need private property investors and that is why people are incentivised to buy in, and taxed on the way out.

There is no law that say all citizens must invest, but those inclined to will. If you take away property as a vehicle you are essentially left with listed shares. If you took all money invested in property and moved it to shares what would that do to share prices?

I was thankful to the landlords who gave me their properties to live in cheap as a teenage. I couldn't have afforded to move out without them. Simple as that.
Edited by Matthew, 3 Oct 2016, 03:58 PM.
My only hope for my three boys is that they turn out nothing at all like Chris.
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