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Perth property sets new all time high.; Bears smashed, again.
Topic Started: 10 Jun 2013, 06:43 PM (52,435 Views)
Perthite
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foxbat101
2 Aug 2013, 11:31 PM
Why not look at an area like Margaret River.
30% of Perth prices would probably get you a nice house in Margaret River.
Peter from Perth
Indeed, I am hoping to buy in the Busselton area myself.

Provided you can gain employment. Which is not easy.
Edited by Perthite, 2 Aug 2013, 11:40 PM.
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newjez
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Perthite
2 Aug 2013, 11:38 PM
Indeed, I am hoping to buy in the Busselton area myself.

Provided you can gain employment. Which is not easy.
Not if it keeps increasing at 70% yoy !!!

I love Mike. Every village needs one.
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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Mike
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newjez
3 Aug 2013, 02:15 AM
Not if it keeps increasing at 70% yoy !!!

I love Mike. Every village needs one.
http://www.heraldsun.com.au/business/breaking-news/pain-for-home-buyers-as-prices-keep-rising/story-fni0xqe4-1226689440304

Quote:
 
HOME buyers are in for a tough time as record low interest rates continue to drive capital city property values higher.

Capital city dwelling values were up 1.6 per cent in July, following a 1.9 per cent rise in June, according to the RP Data-Rismark Home Value Index.

Dwelling values in Sydney rose two per cent last month and 6.5 per cent in the past 12 months.

In Perth, prices rose 1.6 per cent in July and 8.3 per cent in the past 12 months, and a widely expected rate cut at next week's Reserve Bank meeting means the price acceleration likely won't be slowing anytime soon.

RP Data research director Tim Lawless said the rising prices would see the issue of housing affordability back in the headlines.

"With the housing market once again showing solid capital gains and rents also rising, the issue of housing affordability is likely to begin attracting more attention," Mr Lawless said.

"The recent housing market correction which bottomed in May 2012, where values were down 7.4 per cent from peak to trough across the combined capital cities, together with mortgage rates moving to historically low levels, delivered substantial affordability improvements for Australian housing.

"However, with Sydney, Perth and Canberra values now back at record high levels and some other capital cities not far off their previous peaks, there are likely to be a growing number of households who find it challenging to enter the housing market."

Mr Lawless said a typical capital city property was selling in 45 days, compared with 59 days at the same time last year.

He said vendors were now discounting less while clearance rates in Sydney remained close to 80 per cent.

But while prices were booming in Sydney, Melbourne, Perth and Canberra, conditions were more sedate in Brisbane, Darwin, Hobart and Adelaide, he said.

Meanwhile, new home sales in June increased 3.4 per cent, seasonally adjusted, the fourth consecutive rise, according to the Housing Industry Association (HIA) new home sales report.

HIA chief economist Harley Dale said momentum was building after a weaker year overall for new home sales.

"New home sales volumes are 27 per cent down on their long-term average," Dr Dale said.

"There is still a long way to go."


To bad in the month just gone, a few days ago prices are booming up 1.6% in a month which is almost a 20% annualised rate. In the last year prices are up 8.3% and over 12% from the bottom of the market. Prices are increasing at a faster rate now and will continue to do so.
http://mike-globaleconomy.blogspot.com.au/
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Pig Iron
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Bogan scum

the thing that i find the most sad is that the bears still think a price crash will be a help to them. aside from a tiny fraction who would have the cash to buy outright, it would actually lock them out of home ownership.

look at the USA, home ownership has fallen to record low levels due to the crash.
I am the love child of Tony Abbott and Pauline Hanson
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Perthite
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Pig Iron
3 Aug 2013, 03:39 PM
the thing that i find the most sad is that the bears still think a price crash will be a help to them. aside from a tiny fraction who would have the cash to buy outright, it would actually lock them out of home ownership.

look at the USA, home ownership has fallen to record low levels due to the crash.
Is this help?

http://reiwa.com.au/Research/Pages/Perth-listings-and-rental-trends.aspx
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newjez
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Pig Iron
3 Aug 2013, 03:39 PM
the thing that i find the most sad is that the bears still think a price crash will be a help to them. aside from a tiny fraction who would have the cash to buy outright, it would actually lock them out of home ownership.

look at the USA, home ownership has fallen to record low levels due to the crash.
Who says you have to own a home? Good stable rentals are a better deal for many people.
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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Foxy
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Zero is coming...

Perthite
2 Aug 2013, 11:38 PM
Indeed, I am hoping to buy in the Busselton area myself.

Provided you can gain employment. Which is not easy.
Well that is a very valid point, you need to have a job, or an income or work from home.
We need to live near our income generally speaking, so if there is plenty of work people what more houses in the area the work is so the price of houses goes up.
As a general statement.
Who thinks that the wealthy live in Port Hedland or Karratha???
I don't think so.
Paying $2million for a shitbox in a dust bowl surrounded by rockapes.
(oh i worked for Cliffs Robe River by the way)
But if the demand for those houses drops and the price goes south, who is going to be able to stump up the $2million to buy them out of their position?
Sally serving hamburgers at the local takeaway on $15.00 ph??
Come on guys.
Supply and demand.

The paradox is the truly wealthy can live anywhere, so a rich person could live in Thailand and it would cost them say $200,000 for a very nice unit in downtown Bangkok, near the British club.
They can hire cleaning staff for say $16 per day.
So it would cost them almost nothing to live, while here we pay through the nose for everything, because most people have to.
The poor are truly poor.
In all forms of the term.
As the ignorant are truly ignorant.
In all forms of the term.
Peter from Perth
One question if you had $2 million in cash and $120,000 per year coming in tax free for the rest of your life, indexed to CPI where would you live and how would you live??
You have no commitments no worries and general good health for your age?
Lets step outside the square.

http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Trojan
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Pig Iron
3 Aug 2013, 03:39 PM
the thing that i find the most sad is that the bears still think a price crash will be a help to them. aside from a tiny fraction who would have the cash to buy outright, it would actually lock them out of home ownership.

look at the USA, home ownership has fallen to record low levels due to the crash.
Then there is the sadder subset who think we are in the middle of a crash and the data providers are lying about the high auction clearance rates and high median prices ... :hmm:
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Pig Iron
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Bogan scum

newjez
3 Aug 2013, 05:45 PM
Who says you have to own a home? Good stable rentals are a better deal for many people.
ironically it's the bears who crap on the most about owning a home, not bulls.

bulls are usually happy to rent a house to someone, but inspite of all the lip service they pay to renting being so great, bears almost universally considering the end game to be home ownership.
Perthite
3 Aug 2013, 04:44 PM
http://www.rpdata.com/research/back_series.html

all we need is a rant from you on how the ABS with show us the truth.
Edited by Pig Iron, 3 Aug 2013, 07:33 PM.
I am the love child of Tony Abbott and Pauline Hanson
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Trojan
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Pig Iron
3 Aug 2013, 07:32 PM
http://www.rpdata.com/research/back_series.html

all we need is a rant from you on how the ABS with show us the truth.
Which will last until the ABS stats actually come out on Tuesday and show prices has risen ... then "they are liars with vested interests to prop up the housing bubble". :lol
Edited by Trojan, 3 Aug 2013, 07:38 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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