BG - are you worried by the movement at the top of the market - as this seems to be where you are invested. It will take a while for the figures to come through, but I think that +1mil suburbs are coming under pressure. The volumes look suddenly high. This would tie in with the loss of many high end mining jobs. As you are heavily invested in these areas - I wonder if you have an opinion?
Spiderman I don't get involved in exec type rentals, some of my investment properties have been old houses that have been subdivided ..especially those in high density zoning conditions. Eg 3 4x2 town houses. I still have a couple of old houses that I havent developed yet, I've just done minor renov work over the years (30-40yr old homes)
I have my own conditions.. Not interested in outer suburbs Not interested in apartments..units might be more affordable but but future growth prospects are lower. Concentrated on inner city mainly.
The only luxury properties is the syndicate shared family holiday house in the South west & my recently built luxury home that's in a riverside suburb.
Yes if some people lose their jobs they are not going to afford the exec properties, they will downsize & relocate.I'm anticipating healthy rental returns for my inner city properties.
Inner city properties usually have a strong demand by tenants, yep the rental crises is over, but I feel I'm being realistic.
It really depend on the quality of the rental & it's location..if its an outer suburb it may be more necessary to reduce the rental rate to attract tenants. If people have been slack on maintenance well that's their problem.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Caught the Saturday Talking Property on 882. 9:00 to 9:30 am
Figures are about to be released.
Also population growth does appear to have stalled.
People appear to be vacating rentals and moving east.
so where are the numbers. i see the SQM numbers but they hardly prove much even the level of volatility in the graph, and you are telling us reiwa shows rents are falling.
seems like another case of premature ejaculation from you.
doubleview
8 Jun 2013, 08:48 PM
Frankly anyone who thinks Perth will keep going from here is a joke!!
You will not have to apply lubricant as a precautionary measure nono!!
you will have to apply lube for real, your fate is sealed!! the banks is ready with its cucumber !!
Lube up! the banks are ready like a sandpaper sex toy.
You dont need a set of weekly numbers. The WA economy is going to tank without mining, the population is going to be a lot poorer and rents will fall. House prices are already falling and rents always rise and fall with prices. Now all that is needed is the big increases in interest rates and an entire generation of buy to let owners will be wiped out, or if their lucky, impoverished until this is all over. The last time we saw this was was 1930 to 1950, 20 years of misery and the worst time to be in DEBT my fellow aussies.
Caught the Saturday Talking Property on 882. 9:00 to 9:30 am
Figures are about to be released.
Also population growth does appear to have stalled.
People appear to be vacating rentals and moving east.
Hi Guys, I have lived in Perth all my life, It is a fantasy land. Always has been always will be. My mom and dad bought and sold over 140 properties as a hobby over their life times. I picked up a few tips over the time. If mom and dad had kept just 12 of those properties they (the properties) would be worth about $20 million today, that is assuming they kept the better properties. They did not know enough to do that. Today i think the Perth market has paused. (Just in the last 3 weeks). The only things that i can see that will propel the Perth market further is wealthy migrants and a nice healthy government first home owners grant. I can hear the investors saying who is your daddy. Saying that i have just sold 2 of my little units in Perth, for an excruciating price. In the long run maybe i should have kept them. Only time will tell. One of the key things that concerns me is this simple fact REPEAT FACT. It takes 5,000 people plus to build a large LNG plant or iron ore mine. It takes 50 people to run a large LNG plant and maybe 200 to 300 to run a large iron ore plant. If / when the construction ends of these projects then what the hell do we do with all the people that worked in construction??? Do they stay here in Western Australia or do they go home to their impoverished states like Victoria or New South Whales and go back on the dole??? Anyway, where to from here. Simple for me. If you have no debt. You are less of a slave. I say to you the very best of luck and may your investments and plans bear the fruit you desire. Keep up the fight. Peter
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