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Perth House Sales Surge 9.8% in April
Topic Started: 29 May 2012, 01:27 PM (3,146 Views)
Mike
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http://www.smh.com.au/business/property/victorian-first-home-buyers-drive-up-sales-20120529-1zg7g.html

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A surge of house buyers trying to beat the axing of the first home owner bonus in Victoria has lifted new home sales from their record lows.

New home sales jumped nationally by 6.9 per cent in April, seasonally-adjusted, after sinking to their worst levels in a decade in March, a Housing Industry Association survey of the country’s largest 100 builders shows.

The biggest boost to April sales came out of Victoria, where they surged 17.2 per cent after the Baillieu government’s recent budget axed handouts to first home buyers. These gave them up to $19,500 in rebates if they purchased a new dwelling under $600,000.

The cuts have sparked a rush of new home buyers in Melbourne’s suburban housing estates and apartment market seeking to claim the rebate before the June 30 cut-off

Read more: http://www.smh.com.au/business/property/victorian-first-home-buyers-drive-up-sales-20120529-1zg7g.html#ixzz1wDoCCe7l
http://mike-globaleconomy.blogspot.com.au/
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Mike
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April has increased detached house sales in WA of 9.8% growth.

WA has not increased its First home owners grant, it is not getting rid of it. We have no other bonuses or incentives. This is a pure supply and demand increase.

Now if you follow the market closely April had sales figures around 10-20% higher than the previous 12 months depending on suburb. In may we have seen 40-50% increase in sales, widely reported in the media over here. So May sales figures which will be out in a month or 2 will be even better. No wonder we have declining stock levels.

House price have already increased in Perth between 2.5-3.5% depending on the dataset used up to April. Rents have surged over 17% and a 1.6% vacancy rate, our unemployment has droped to 3.8%. Our median rental price has increased from $380 per week to $445 in less then 12 months.

The market here certainly appears to moving into the next gear. Everything looks very good for WA property. Consider these figures are all prior to the latest interest rate cuts. I wonder what will happen over the next year as futures markets are predicting the cash rate to drop 1.25% to 2.5%, how will that affect a property market that is already doing well.
http://mike-globaleconomy.blogspot.com.au/
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peter fraser
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Mike
29 May 2012, 01:33 PM
April has increased detached house sales in WA of 9.8% growth.

WA has not increased its First home owners grant, it is not getting rid of it. We have no other bonuses or incentives. This is a pure supply and demand increase.

Now if you follow the market closely April had sales figures around 10-20% higher than the previous 12 months depending on suburb. In may we have seen 40-50% increase in sales, widely reported in the media over here. So May sales figures which will be out in a month or 2 will be even better. No wonder we have declining stock levels.

House price have already increased in Perth between 2.5-3.5% depending on the dataset used up to April. Rents have surged over 17% and a 1.6% vacancy rate, our unemployment has droped to 3.8%. Our median rental price has increased from $380 per week to $445 in less then 12 months.

The market here certainly appears to moving into the next gear. Everything looks very good for WA property. Consider these figures are all prior to the latest interest rate cuts. I wonder what will happen over the next year as futures markets are predicting the cash rate to drop 1.25% to 2.5%, how will that affect a property market that is already doing well.
Mike look at the graph.

http://www.rpdata.com/research/back_series.html

Any expressed market opinion is my own and is not to be taken as financial advice
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Mike
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peter fraser
29 May 2012, 01:58 PM
Mike
29 May 2012, 01:33 PM
April has increased detached house sales in WA of 9.8% growth.

WA has not increased its First home owners grant, it is not getting rid of it. We have no other bonuses or incentives. This is a pure supply and demand increase.

Now if you follow the market closely April had sales figures around 10-20% higher than the previous 12 months depending on suburb. In may we have seen 40-50% increase in sales, widely reported in the media over here. So May sales figures which will be out in a month or 2 will be even better. No wonder we have declining stock levels.

House price have already increased in Perth between 2.5-3.5% depending on the dataset used up to April. Rents have surged over 17% and a 1.6% vacancy rate, our unemployment has droped to 3.8%. Our median rental price has increased from $380 per week to $445 in less then 12 months.

The market here certainly appears to moving into the next gear. Everything looks very good for WA property. Consider these figures are all prior to the latest interest rate cuts. I wonder what will happen over the next year as futures markets are predicting the cash rate to drop 1.25% to 2.5%, how will that affect a property market that is already doing well.
Mike look at the graph.

http://www.rpdata.com/research/back_series.html

Read the data. Perth median values are not over $500k, we are under at present. http://blog.residex.com.au/wp-content/uploads/2012/05/April-2012-Property-Market-Statistics.jpg

http://www.landgate.wa.gov.au/corporate.nsf/chartfiles/$file/mehpm.pdf

Both landgate and residex, in particular landgate that count every transaction and not just a dataset or survey/sample size. Both show the Perth values increasing by about 3.5-4% over the start of this year.
http://mike-globaleconomy.blogspot.com.au/
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earthsta
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Mike
29 May 2012, 02:25 PM
Read the data. Perth median values are not over $500k, we are under at present. http://blog.residex.com.au/wp-content/uploads/2012/05/April-2012-Property-Market-Statistics.jpg

http://www.landgate.wa.gov.au/corporate.nsf/chartfiles/$file/mehpm.pdf

Both landgate and residex, in particular landgate that count every transaction and not just a dataset or survey/sample size. Both show the Perth values increasing by about 3.5-4% over the start of this year.
What part of "SHADED MONTHS - PRELIMINARY INCOMPLETE DATA - DO NOT USE" don't you understand :lol :lol :lol
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peter fraser
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Quote:
 
Read the data. Perth median values are not over $500k, we are under at present. http://blog.residex.com.au/wp-content/uploads/2012/05/April-2012-Property-Market-Statistics.jpg

http://www.landgate.wa.gov.au/corporate.nsf/chartfiles/$file/mehpm.pdf

Both landgate and residex, in particular landgate that count every transaction and not just a dataset or survey/sample size. Both show the Perth values increasing by about 3.5-4% over the start of this year.
Dec 2011 ----- $485,000
Jan 2012 ----- $479,000
Feb 2012 ----- $495,000
Mar 2012 ----- $485,000
April 2012 ----- $487,000

So in that period values have gone up by $2000 according to landgate. April 2011 was $490,250 and 2010 was $516,000

April is yesterday in real estate, it's almost June. I don't mean to dampen your spirits Mike, I have seen you make some interesting posts, but on this issue I'm not going to get excited just yet.

Edited by peter fraser, 29 May 2012, 03:05 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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newjez
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I think you may have come prematurely Mike. I've heard think there's a cream or a jell out there that may help you.
Edited by newjez, 29 May 2012, 04:28 PM.
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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Gossamer
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44th most prolific poster on APF

One month does not make a year. Lets see if this surge continues.
Common sense is a curse - those who have it need to suffer dealing with those who don't have it.

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Nelson
Black Panther
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zaph
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Mike
29 May 2012, 02:25 PM
Both landgate and residex, in particular landgate that count every transaction and not just a dataset or survey/sample size. Both show the Perth values increasing by about 3.5-4% over the start of this year.
Do landgate adjust for compositional bias?
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Black Panther
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This song best describes the current sentiment for Perth Real Estate



:oo:
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