Perth prices arent going to fall much further or at all, and lending is tightening up, so unless you like renting you definitely should be looking to buy now.
It may be too late already as the transmutation consolidates ...
Translates your money into air! Ha! Mate, you crack me up. Give me one reason why Perth will rise.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Dont buy until population growth resumes. im ready and willing but it really stinks up the outlook.
So you are waiting for prices to start rising before you buy a house to live in as opposed to taking advantage of a genuine buyers market and record low interest rates and getting in now and smashing through your mortgage?
Interesting approach.
My only hope for my three boys is that they turn out nothing at all like Chris.
So you are waiting for prices to start rising before you buy a house to live in as opposed to taking advantage of a genuine buyers market and record low interest rates and getting in now and smashing through your mortgage?
Interesting approach.
Well everyone has a diff. tolerance and plan. It's the same with shares.
Some people try to pick the bottom, often too early, and have to wait for years until prices come back to their level.
Some don't care about the exact timing, but want to pick the buyers market with the aim of getting a great price that is good enough to offset potential continued down side, and time delays.
Some want to wait until the prices have turned, accepting that paying 10 or 20% above the bottom is fair insurance for them not having to suffer continued slide in property price.
Each to their own.
Naturally, some never buy... always waiting for a lower price...
Well everyone has a diff. tolerance and plan. It's the same with shares.
Some people try to pick the bottom, often too early, and have to wait for years until prices come back to their level.
Some don't care about the exact timing, but want to pick the buyers market with the aim of getting a great price that is good enough to offset potential continued down side, and time delays.
Some want to wait until the prices have turned, accepting that paying 10 or 20% above the bottom is fair insurance for them not having to suffer continued slide in property price.
Each to their own.
Naturally, some never buy... always waiting for a lower price...
All I want is reasonable justification that things will turn around.
In a company this could be a new ceo with a plan.
In a housing market it could be new investment in industry.
At the moment, there is no reason to be positive about the Perth market, housing or otherwise.
That could easily change, and when it does, then buy.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
All I want is reasonable justification that things will turn around.
I would be asking the question "will it get worse"? and the answer is genuinely no, not much.
Look as a stock standard not flash suburb around the median - Carlisle ($540k).
10 years ago the average WA Wage was about $38.5k. Carlisle median was about $365,000. Variable interest rate was about 9%. Average disposable income for the average Wage Earner was about $31k per annum. Average Weekly repayment on a 100% loan over 25 years was about $706 a week - $110 more than the average net weekly wage.
Today the average WA wage is about $81k. Median in Carlisle is about $540k. Variable interest rate is about 4.5%. Average disposable income is now $63,100. Weekly repayment on a 100% loan over 25 years is about $692.11 - $521 less than the average wage earners weekly disposable income and less in any terms than it was a decade ago.
The bubble occurred up to 2008 in Perth. Since then the market has done nothing. Absolutely jack shit.
A modest house in an average suburb was out of reach of the average single wage. It is now within reach.
The market is massively over supplied. It is a buyers market. Interest rates are at record lows. Wage growth outpaces inflation.
If you have a secure job exactly what would stop you buying a family home in Perth, to live in for 7 - 10 years today? There will be no crash.
My only hope for my three boys is that they turn out nothing at all like Chris.
i know i have asked before, this transmutation again please???
Peter
Are we talking wealth consolidation??
The transmutation is where house prices thrust powerfully upwards, consigning silly bears who don't already own property to the boondocks. Or they can keep paying rent to a landlord forever. Those consigned to the boondocks will have difficulty finding any tucker, while the smart property investors and homeowners feast it up in their waterfront mansions. It is Australia's future. The Australian property transmutation is inevitable now and cannot be avoided.
"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
Hi we have just sold our property in Perth- South of the River.
I am a little confused as over the past few weeks we have noticed a change - nothing staying on the market for very long in or suburb and more buyers out and about. Spring rush maybe?
Unfortunately we cannot find a house the suits what we are looking for which leads us to renting for sometime, with a tidy sum of money in the bank.
My father is old school has always told me to buy and sell in same market but we just cannot find anything we like. We have a train station opening very shortly in our suburb too and are concerned with rising prices in the area due to this........
Any advice negative or positive??
Common sense is a curse - those who have it need to suffer dealing with those who don't have it.
The transmutation is where house prices thrust powerfully upwards, consigning silly bears who don't already own property to the boondocks. Or they can keep paying rent to a landlord forever. Those consigned to the boondocks will have difficulty finding any tucker, while the smart property investors and homeowners feast it up in their waterfront mansions. It is Australia's future. The Australian property transmutation is inevitable now and cannot be avoided.
Perth over the last ten years?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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