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Sales in Perth increased 24 per cent during the past two months
Topic Started: 1 Jun 2012, 09:00 PM (858 Views)
Black Panther
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Perth property price recession sparks flurry of sales

Courtney Trenwith
June 1, 2012 - 9:27AM

The record long recession in Perth property prices has sparked a flurry of activity, with sales volumes now above the five-year trend.

The increased interest in the market also has helped to slow the decline in median property values, which fell by 1.7 per cent to $460,000 in May, according to RP Data results released today.

No other major capital city is experiencing above-average activity in the property market.
According to the Real Estate Institute of WA, sales in Perth increased 24 per cent during the past two months to 6979 properties.

“Prices seem to be holding steady, but there is no question that buyers are more active and there is growing consumer confidence in the property sector,” REIWA president David Airey said.

Competition in the market could strengthen with the number of properties listed for sale declining to about 13,000, from a peak of 18,000 last year. About 12,000 is considered balanced.

Read more: http://www.watoday.com.au/wa-news/perth-property-price-recession-sparks-flurry-of-sales-20120601-1zlph.html#ixzz1wXBq0vGL

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Black Panther
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This seems to explain why my investment properties have recently been evaluated at a higher price.

:tu:
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newjez
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Black Panther
1 Jun 2012, 09:00 PM
Perth property price recession sparks flurry of sales

Courtney Trenwith
June 1, 2012 - 9:27AM

The record long recession in Perth property prices has sparked a flurry of activity, with sales volumes now above the five-year trend.

The increased interest in the market also has helped to slow the decline in median property values, which fell by 1.7 per cent to $460,000 in May, according to RP Data results released today.

No other major capital city is experiencing above-average activity in the property market.
According to the Real Estate Institute of WA, sales in Perth increased 24 per cent during the past two months to 6979 properties.

“Prices seem to be holding steady, but there is no question that buyers are more active and there is growing consumer confidence in the property sector,” REIWA president David Airey said.

Competition in the market could strengthen with the number of properties listed for sale declining to about 13,000, from a peak of 18,000 last year. About 12,000 is considered balanced.

Read more: http://www.watoday.com.au/wa-news/perth-property-price-recession-sparks-flurry-of-sales-20120601-1zlph.html#ixzz1wXBq0vGL

1.7% fall in May is quite a drop BP. Do you not think that this rise in sales is due to people being realistic about price and dropping to meet the buyers? It certainly looks that way from the falls. The next couple of months should make things clearer, but this could look like investors cashing out. It would also explain the increase in rents.
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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Rastus2
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Black Panther
2 Jun 2012, 02:01 PM
This seems to explain why my investment properties have recently been evaluated at a higher price.

:tu:


lol.. yeah, because we all know that increased volumes of sales automatically means rising prices eh BP... :re:


I notice that the volume on the ASX have spiked recently... mostly from the panic selling at lower prices.
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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newjez
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Black Panther
2 Jun 2012, 02:01 PM
This seems to explain why my investment properties have recently been evaluated at a higher price.

:tu:
Yes your majesty - your clothes look very fine ...
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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earthsta
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Black Panther
2 Jun 2012, 02:01 PM
This seems to explain why my investment properties have recently been evaluated at a higher price.

:tu:
They're going down blockie, you twat. Have been for over a year now. You need a snorkel?
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Perthite
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Mike brought this up. Completed sales numbers are available till mid April. Basically the other 6 weeks of this period are well. I would not wipe my arse with it. Based on the weekly sales data from reiwa which has seen record numbers of transactions fall over.

No different from the past 18 months. Weekly numbers 20%+ yoy but no bounce in final numbers.
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earthsta
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Perthite
2 Jun 2012, 08:14 PM
Mike brought this up. Completed sales numbers are available till mid April. Basically the other 6 weeks of this period are well. I would not wipe my arse with it. Based on the weekly sales data from reiwa which has seen record numbers of transactions fall over.

No different from the past 18 months. Weekly numbers 20%+ yoy but no bounce in final numbers.
Someone should tell blockie that falling prices on rising volume is not a harbinger for the next boom.

Some light reading for dumbarse blockie
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