The median house price in Perth according to Landgate is down about $40k from the November 2014 peak. That is $357 per week.
According to REIWA, the median rent is currently $360 per week.
Rent includes shire rates and all home maintenance costs.
A Bankwest variable rate 30 year repayment mortgage on $475k would set you back $556.98 per week.
So someone who didn't buy in 2014 is saving $200 per week up front and is not having to fork out for repairs and rates.
Plus, they will have saved at least $40k on the purchase price if they bought today.
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.
No it doesn't, you are still responsible for any damage you do to the property.
Jimbo
11 Apr 2017, 03:43 PM
A Bankwest variable rate 30 year repayment mortgage on $475k would set you back $556.98 per week.
So someone who didn't buy in 2014 is saving $200 per week up front and is not having to fork out for repairs and rates.
Plus, they will have saved at least $40k on the purchase price if they bought today.
I'm guessing this is how you diddle the numbers to keep your trading failures from the missus.
The median price in warnbro is no where near $475k, you are attempting to lie your arse off comparing a renting figure that's low with a higher purchase price.
The 4 bedder median is only $342,500 vs a rent of $340/week. So on a lvr of 80% you are looking at a loan of $274,000 with a PI payment weekly of just $297 @ a rate of 3.89% (from nab calculator) You would save money right away just buying vs renting the median.
No I do not. You on the other hand continually over state them.
Show your workings. I think you are off your head.
Why would any sane person do that? So your opinion is that the median priced house attracts the median rent? Some of your funniest work right there.
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Provided you use the same data set it really does not matter. Landgate have prices down 9%-10%. Most indexes would show something very similar.
It matters a lot. If an index is not adjusted for composition then it can erroneously show falls/gains that are just due to more expensive/cheaper properties selling.
It matters a lot. If an index is not adjusted for composition then it can erroneously show falls/gains that are just due to more expensive/cheaper properties selling.
It matters not a f*** as the price is determined by the houses sold, not the houses not for sale.
Suburb to suburb data is more meaningful but only to people buying or selling in those suburbs.
But as you are a self proclaimed expert on the matter which index would you like me to use to determine the $ fall in Perth property? I await your glowing wisdom.
My only hope for my three boys is that they turn out nothing at all like Chris.
It matters not a f*** as the price is determined by the houses sold, not the houses not for sale.
Suburb to suburb data is more meaningful but only to people buying or selling in those suburbs.
But as you are a self proclaimed expert on the matter which index would you like me to use to determine the $ fall in Perth property? I await your glowing wisdom.
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.
You have compared the median rent to the median house price repayment. If that is not what you are saying why did you make the comparison.
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But the very word median would indicate that the average person would rent a median rent rental and eventually buy a median priced property.
How do you figure? Exactly what is the "average person". That is an emotional statement that cannot be supported by facts at all.
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I don't know many who have started out by renting the penthouse before buying the basement. I know quite a few who have done the reverse.
Most people I know have moved into a more modest dwelling or further from where they used to rent when they first buy. I had mates who were Engineers at Woodside, CB&I and Flour when I was in my early 30's who rented mansions togehter in Mt Lawley, Mt Pleasant and Nedlands before buying significantly cheaper townhouses in Maylands and apartments in East Perth as their first homes. At uni mates rented in Como, South Perth, Claremont, Nedlands, Shenton Park and Cottesloe before moving to Innaloo, Karrinyup, Kardinya. Maybe we know different people. I know real people who live in the real world and you know made up people who subscribe 100% to your philosophies such as your brickie mate and your RE mate and your sons soccer dad mates and so on.
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For your funniest work, see below.
Listings for sale are down since I made that comment. Sales activity is up. Less listings, more sales and prices appear to have stopped falling. Bottom is in. Sorry Dimshit but yet again you missed it.
You have compared the median rent to the median house price repayment. If that is not what you are saying why did you make the comparison.
You are a tool Matey.
The average person will pay the average rent when they are renting.
The average person will buy an average house when they buy.
At the moment, someone who has spent the last three years paying the average rent will have saved money compared to someone who bought the average house three years ago.
That is a fact Matey.
Is it Easter yet?
Are you ready to come out of hibernation to claim victory?
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.
The average person will pay the average rent when they are renting.
The average person will buy an average house when they buy.
Who is the average person Dimshit? What is the average house? What does the average person earn?
You are clueless.
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At the moment, someone who has spent the last three years paying the average rent will have saved money compared to someone who bought the average house three years ago.
Given that the average house purchased is not the same as the average house rented that statement is absolutely irrelevant.
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That is a fact Matey.
Bullshit.
My only hope for my three boys is that they turn out nothing at all like Chris.
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