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Perth - The Bottom is Here
Topic Started: 22 Oct 2016, 04:10 PM (21,311 Views)
dachopper
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Couldn't agree more.

You can purchase a 2 bed unit sub 400,000 in the top 10 wealthiest suburbs of Perth..... If it drops much more, dole welfare recipients could afford the repayments!



Extract:

"While Perth results were very poor Mr Ryder said that could be a sign to some investors that now was a good time to buy.
“The smart investors buy when markets are down and it would be a really good time to be looking in Perth because it is pretty much at the bottom,’’ he said.
“You can buy at really good prices without competition from other buyers. The smart counter-cyclical investors would see now as an opportunity for Perth because we know it has got a history of being a strong city and we know it will come back.
“We are now starting to see almost daily better news about the resources sector and commodity prices particularly for coal, but also for iron ore are rising and if that continues we are going to see some revival.’’

Source:
State of the union
Edited by dachopper, 22 Oct 2016, 04:10 PM.
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Shankiedoodle
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Hmm sorry im not respectfully disagree,
we still have a large number of vacancies and pretty bad employment conditions.

Without some sustain population growth and the economy making some kind of improvement, i doubt its happening.
Where we are now is a rebalancing from a mining based economy to perhaps something based more on medical and retail. That's not a six month process. maybe more like two to three years.

granted, prices might not drop further. But they won't rise either, not for a while at least.
So why bear someone else's holding costs while you have the power of choice in your hands :tu:
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Terry
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“You can buy at really good prices without competition from other buyers. The smart counter-cyclical investors would see now as an opportunity for Perth because we know it has got a history of being a strong city and we know it will come back.

“We are now starting to see almost daily better news about the resources sector and commodity prices particularly for coal, but also for iron ore are rising and if that continues we are going to see some revival.’’

Good evidence of the depth of thinking in this country when you can roll out this kind of twaddle to influence suburbanite behavior.
Edited by Terry, 22 Oct 2016, 04:32 PM.
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John Frum
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Terry
22 Oct 2016, 04:32 PM

Good evidence of the depth of thinking in this country when you can roll out this kind of twaddle to influence suburbanite behavior.
The commodity price spruik in particular smacks of desperation. I dislike Terry Ryder with a passion, and if I saw him in the street I would take great pains to let him know as much.

Other suggestions for the cheerleading toolkit:

* Import the yellow peril narrative from the east coast.
* Revive the 'property not a single market' principle.
* note that Perth's median house price to smashed avocado and toast breakfast index is currently sitting at all time lows.
"It were not best that we should all think alike; it is difference of opinion that makes horse races." - Mark Twain on why he avoids discussing house prices over at MacroBusiness.
"Buy land, they're not making any more of it." - Georgist Land Tax proponent Mark Twain laughing in his grave at humourless idiots like skamy that continually use this quip to justify housing bubbles.
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Rastus2
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Shankiedoodle
22 Oct 2016, 04:15 PM
Hmm sorry im not respectfully disagree,
we still have a large number of vacancies and pretty bad employment conditions.

Without some sustain population growth and the economy making some kind of improvement, i doubt its happening.
Where we are now is a rebalancing from a mining based economy to perhaps something based more on medical and retail. That's not a six month process. maybe more like two to three years.

granted, prices might not drop further. But they won't rise either, not for a while at least.
So why bear someone else's holding costs while you have the power of choice in your hands :tu:
To be honest, If I was planning to live in Perth, I would be looking now, and making low ball offers without fear of many other buyers competing.

With the emotion removed as a buyer in no rush, the opportunity to pick up a great property at a discounted price below the current low levels is a great opportunity...

Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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stinkbug
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Rastus2
22 Oct 2016, 07:01 PM
To be honest, If I was planning to live in Perth, I would be looking now, and making low ball offers without fear of many other buyers competing.

+1 to this.

Finding property is easy. Pick 10 and make lowball offers on all of them. First one to accept wins. If no-one accepts, pick 10 more.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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herbie
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stinkbug
22 Oct 2016, 07:41 PM
Finding property is easy. Pick 10 and make lowball offers on all of them. First one to accept wins. If no-one accepts, pick 10 more.
:) (It's called being in a buyers' market)
Edited by herbie, 22 Oct 2016, 07:54 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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stinkbug
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herbie
22 Oct 2016, 07:52 PM
:) (It's called being in a buyers' market)
Yes, Herbie. Yes it is.

:D
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Foxy
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Zero is coming...

herbie
22 Oct 2016, 07:52 PM
:) (It's called being in a buyers' market)
yep the only place to be, but be very hard, very very hard, if they don't like it just walk.

One wrong word from the agent, just walk away.

Edited by Foxy, 23 Oct 2016, 12:51 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Blondie girl
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foxbat
23 Oct 2016, 12:50 AM
yep the only place to be, but be very hard, very very hard, if they don't like it just walk.

One wrong word from the agent, just walk away.
There is a difference in negotiating low ball to unrealistic....

I do suspect what you offered on the West Perth apartment was initially on the ridiculous....
:lol
John Frum
22 Oct 2016, 06:10 PM
The commodity price spruik in particular smacks of desperation. I dislike Terry Ryder with a passion, and if I saw him in the street I would take great pains to let him know as much.

Other suggestions for the cheerleading toolkit:

* Import the yellow peril narrative from the east coast.
* Revive the 'property not a single market' principle.
* note that Perth's median house price to smashed avocado and toast breakfast index is currently sitting at all time lows.
You need to focus on what is happening in your own back yard in Sydney and do damage control.. better run to Perth...........
run! run! run! fly like the wind frumps.


Actually don't come to Perth......... stay there and froth at the mouth........
:re:
Edited by Blondie girl, 23 Oct 2016, 01:37 PM.
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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