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Perth House Sales Surge 9.8% in April
Topic Started: 29 May 2012, 01:27 PM (3,150 Views)
Alec Smart
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Mike
29 May 2012, 01:27 PM
I wouldn't rely on RP Data or other private data providers e.g. Australian Property Monitors or Residex etc They often publish real estate agent data input and never publish 100% of all sales. It is usually only a part sample of sales data.

Go to the reliable source which is Landgate (WA State Gov Dept). Landgate are obligated by law to publish all (100%) settled property and Landgae is the holder of the Valuer General Office database. So Landgate is the number one source of data.

Check out Median House Price Metro (not including Mandurah) here http://www.landgate.wa.gov.au/corporate.nsf/Web/Median+House+Price and the same pdf attached.

Peak was Jan and Mar 2010 at $520K
Last full set of data Jan 2012 at $479K
Prelim incomplete data for Feb 2012 at $495K
Prelim incomplete data for Apr 2012 at $487K

Aagh so Feb 12 to Apr 12 trending downwards???
Are ignoring real factual data and information Mike??

Good luck with your delusion Mike! ;)
Attached to this post:
Attachments: Median_House_Price_Metro_WA_2001_2012.pdf (41.51 KB)
Edited by Alec Smart, 30 May 2012, 12:00 AM.
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Mike
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I like how you dont look at the bottom of the market which was in September 2011 with a price of $465,000. It has been trending up ever since. Take a look at the sales figures for Feb, they are the largest sales figures since March 2011, almost 2 years. The median price on incomplete data is $495,000, it is unlikely this figure will go down with that amount of sales counted, which is already greater than any previous month for 2 years. All figures have pointed to even greater amounts of sales in April and May.

So if you had bought at the low point of the Market in September 2011, on average you would be $30,000 in front. Ofcourse many other factors come into play like perths soaring rents and decreasing interest rates. If these figures hold true, that is a 6.4% price growth in less than 6 months. So the reported figures from different agencies now that prices increased in Perth by 2.5% to 3.5% in the 1st Quater 2012 are supported using different data sets.

Ofcourse this price growth and large increase in sales has all come prior to the latest interest rate cuts. This figures show it is pure pent up demand, rental squeeze and supply issues which are driving the market, not cheap credit. As I have warned before, cheap credit or lower interest rates is just like throwing fuel on a fire, we dont it in WA. The RBA will recreate a boom in prices here just like night follows day. I dont think it is a good thing, booms never are. Sure I can make a quick buck selling some houses which is good but im in property for the long hual. Booms mean I cannot buy at reasonable prices, as people bid houses up to more than I want to pay. I love stagnant peroids or slow growth, means I can buy more and I have.

WA is set to boom, as much as I dont like it the market is really taking off over here. Just get out to some home opens, display centre. Even lending figures comfirm sales are up 24% in march. Every indicator is up over here.

http://mike-globaleconomy.blogspot.com.au/
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Mike
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http://reiwaviews.com.au/2012/05/weekly-market-wrap-30th-of-may-2012/

Sales in perth up 24% as of 30th of May compared to same peroid in 2011. Stock levels of houses now at average levels and falling as new supply cannot keep up with the surge in demand.

This is why we are heading reports of bidding wars in the Perth property market again, less and less houses, yet more buyers and also investors are snapping up good rental properties.

http://mike-globaleconomy.blogspot.com.au/
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Perthite
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Not completed sales.... Next :z:
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Mike
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Perthite
30 May 2012, 02:38 PM
Not completed sales.... Next :z:
Look at the graphs they show completed sales up to the week of 12th of April.

Try reading the whole article and all the data instead of your ill thought out and wrong one line statements. You only make yourself look like a dill. :wak:
http://mike-globaleconomy.blogspot.com.au/
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Perthite
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I am referring to your statement in the first paragraph of your comment. Which refers to May. :bye:

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Alec Smart
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Mike
30 May 2012, 01:27 AM
I like how you dont look at the bottom of the market which was in September 2011 with a price of $465,000. It has been trending up ever since. Take a look at the sales figures for Feb, they are the largest sales figures since March 2011, almost 2 years. The median price on incomplete data is $495,000, it is unlikely this figure will go down with that amount of sales counted, which is already greater than any previous month for 2 years. All figures have pointed to even greater amounts of sales in April and May.

So if you had bought at the low point of the Market in September 2011, on average you would be $30,000 in front. Ofcourse many other factors come into play like perths soaring rents and decreasing interest rates. If these figures hold true, that is a 6.4% price growth in less than 6 months. So the reported figures from different agencies now that prices increased in Perth by 2.5% to 3.5% in the 1st Quater 2012 are supported using different data sets.

Ofcourse this price growth and large increase in sales has all come prior to the latest interest rate cuts. This figures show it is pure pent up demand, rental squeeze and supply issues which are driving the market, not cheap credit. As I have warned before, cheap credit or lower interest rates is just like throwing fuel on a fire, we dont it in WA. The RBA will recreate a boom in prices here just like night follows day. I dont think it is a good thing, booms never are. Sure I can make a quick buck selling some houses which is good but im in property for the long hual. Booms mean I cannot buy at reasonable prices, as people bid houses up to more than I want to pay. I love stagnant peroids or slow growth, means I can buy more and I have.

WA is set to boom, as much as I dont like it the market is really taking off over here. Just get out to some home opens, display centre. Even lending figures comfirm sales are up 24% in march. Every indicator is up over here.

Mike I have heard all this type of spin before!

"The RBA will recreate a boom in prices here just like night follows day"

Mike are you a real estate agent?
You seem desperate to push your opinion and not backing it up with an objective reasoned consistent point of view?

"I love stagnant peroids or slow growth, means I can buy more and I have"

Your line of discussion is confusing and contradictory.
Without evidence from you, I would contest that you may not even own property and you are just blubbering on about rubbish?
Trying to talk up the market..

Good luck Mike
All the best...
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Mike
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Alec Smart
30 May 2012, 03:32 PM
Mike
30 May 2012, 01:27 AM
I like how you dont look at the bottom of the market which was in September 2011 with a price of $465,000. It has been trending up ever since. Take a look at the sales figures for Feb, they are the largest sales figures since March 2011, almost 2 years. The median price on incomplete data is $495,000, it is unlikely this figure will go down with that amount of sales counted, which is already greater than any previous month for 2 years. All figures have pointed to even greater amounts of sales in April and May.

So if you had bought at the low point of the Market in September 2011, on average you would be $30,000 in front. Ofcourse many other factors come into play like perths soaring rents and decreasing interest rates. If these figures hold true, that is a 6.4% price growth in less than 6 months. So the reported figures from different agencies now that prices increased in Perth by 2.5% to 3.5% in the 1st Quater 2012 are supported using different data sets.

Ofcourse this price growth and large increase in sales has all come prior to the latest interest rate cuts. This figures show it is pure pent up demand, rental squeeze and supply issues which are driving the market, not cheap credit. As I have warned before, cheap credit or lower interest rates is just like throwing fuel on a fire, we dont it in WA. The RBA will recreate a boom in prices here just like night follows day. I dont think it is a good thing, booms never are. Sure I can make a quick buck selling some houses which is good but im in property for the long hual. Booms mean I cannot buy at reasonable prices, as people bid houses up to more than I want to pay. I love stagnant peroids or slow growth, means I can buy more and I have.

WA is set to boom, as much as I dont like it the market is really taking off over here. Just get out to some home opens, display centre. Even lending figures comfirm sales are up 24% in march. Every indicator is up over here.

Mike I have heard all this type of spin before!

"The RBA will recreate a boom in prices here just like night follows day"

Mike are you a real estate agent?
You seem desperate to push your opinion and not backing it up with an objective reasoned consistent point of view?

"I love stagnant peroids or slow growth, means I can buy more and I have"

Your line of discussion is confusing and contradictory.
Without evidence from you, I would contest that you may not even own property and you are just blubbering on about rubbish?
Trying to talk up the market..

Good luck Mike
All the best...
So information and offical data is rubbish is it, now thats spin. Try putting up some kind of counter debate, typing rubbish is not much of counter.

Can you provide data that counters the offical data. Answer these questions why are sales rising by large %, why are rents rising rapidly, why is lending rising. Why is every indicator in WA pointing up for property. You dont counter any points other than general comments stating "rubbish".

I do in fact own 8 properties, well myself and my Wife. No im not going to provide proof to people I do not know over a forum. How about you post your address and phone number here, or proof of employment. Get real. I dont care if you dont trust what I say, I will post what I think is the current situation, you can disagree that is your right.
http://mike-globaleconomy.blogspot.com.au/
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raveswei
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Mike
30 May 2012, 06:10 PM
I do in fact own 8 properties, well myself and my Wife. No im not going to provide proof to people I do not know over a forum. How about you post your address and phone number here, or proof of employment. Get real. I dont care if you dont trust what I say, I will post what I think is the current situation, you can disagree that is your right.
one more "rich" speculator who is trying to spruik prices on an anonymous forum instead of enjoying his huge property created wealth somewhere else? Why you are here? The less people know your secret the more will be left for you.

:lol

Pathetic

Quote:
 
So information and offical data is rubbish is it, now thats spin. Try putting up some kind of counter debate, typing rubbish is not much of counter.

Can you provide data that counters the offical data. Answer these questions why are sales rising by large %, why are rents rising rapidly, why is lending rising. Why is every indicator in WA pointing up for property. You dont counter any points other than general comments stating "rubbish".


past data says nothing about the future - that is one of the fundamental logical errors bulls are making ...

The reasoning about price crash is not based on current data but on basic drivers behind price movements. No short term data recovery from extremely low levels can cancel out fundamentals that point to big crash.
http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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Mike
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raveswei
30 May 2012, 06:22 PM
one more "rich" speculator who is trying to spruik prices on an anonymous forum instead of enjoying his huge property created wealth somewhere else? Why you are here? The less people know your secret the more will be left for you.

:lol

Pathetic




past data says nothing about the future - that is one of the fundamental logical errors bulls are making ...

The reasoning about price crash is not based on current data but on basic drivers behind price movements. No short term data recovery from extremely low levels can cancel out fundamentals that point to big crash.

I very much doubt by me posting information will result in increased competition for my purchases. If people base purchases of properties of any information they read here, they are worse then most of the dills here posting it.

Lets come back in 3 years and see who is right. Bears been posting for many years now of a crash, im still waiting for bears to be correct just once.

I dont need prices to rise, my investments, developements are setup in a way I take advantage of all stages of the market. The recent down turn in Perth over the last few years, was very good. That is why I invested in some bargains and built some developments.

I might again look over east to buy some more properties in melbourne soon, grab some foreclosure sales from desperate sellers.

Im not just some investor leeching of the tax payer with negative gearing, all my properties are positively geared, as I never borrow to much and keep my LVR down. Its not how much rental income a property gets, it how much you pay for and borrow at purchases. I also build and sell, build 3 sell 2 hold one, retain some for long term to take advantage of deprication on new properties. So many different options.

Oh and if the worst did happen and prices did crash 40%, I would be buying properties up like no tomorrow. Like I said, I make money at both ends of the market, always have and always will.

[/quote]
Edited by Mike, 31 May 2012, 01:25 AM.
http://mike-globaleconomy.blogspot.com.au/
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