Perth has smashed through the all time high for property prices hitting $590,000 in a strong rally.
The rally started in September 2011 and has continued up ever since.
As I have said the Perth market is very strong and remains strong, as all the data now says. I am right and the bears got it wrong, very wrong.
I do not know where this new generation gets their ideas about property from. The old adage that "you don't wait to buy property you buy property and wait" is as true today as it has ever been. All those guys laughed and mocked when I came on here last year and said Perth looked like it was no longer a buyers market and I told of the way I had found the market as a purchaser.
They have missed out big time. Now they are sitting around thinking that the return of some of the FIFO brigade to their hometowns that they mostly never left is gonna sink prices, when the arrival of the massive workforce a few years ago coincided with 20% plus price drops in house prices. The real population of Perth will enjoy the increased exports enabled by this investment for the next decade.
You would think that Australia is gonna suddenly go from the top of the heap as a preferred mining investment region to zero the way they go on.
It will be interesting to see what happens to all those stalled projects (sitting idle with huge capital invested already) when the world economy picks up and if the dollar continues to fall a bit more getting us a more competitive edge again.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
Perth has smashed through the all time high for property prices hitting $590,000 in a strong rally.
Are you kidding. Smashed through what? The $589,520 it was back in April. Not that it would mean much even if the number had been something higher because what is the "Daily home value index" anyway? Is it a median price, or a special price, based on data RP considers pertenant to their subscription sales to RE agents? Only a fool would consider data from a vested interest like this as relevant, especially in these times when everyone is lying about everything just to try and keep the consumer wheels turning.
Perth has been flat-lined for more years than I can remember and this little blip will quickly turn into a downward slide as the recession grips the state. Forget RE for at least a decade Mike, put your money into shorting mining shares, that is if there is any downward room left in them.
Quote:
The graph is updated daily and provides a rolling 365 day view of how dwelling values have changed based on the RP Data-Rismark Daily Home Value Index
The head of REIWA reiterated that prices have stopped rising for now...
Most seem to point to higher prices... Will it be a peak..?
Very interesting times.
Again you guys do yourself a massive disservice by denying any form of reality...
You lack perspective.
I think bulls should all move in together so they do their circle jerk in real life.
Yes, there's no bubble, even though interest rates are at 50 year lows, etc, etc, etc,.
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
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