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".
Either way I'm not that fussed... The froth came out of the market in April.
But I guess it hard to see when your 3000 kms away.
so you accept that prices probably won't show a fall from the ABS numbers, but still want to claim there's been a drop anyway?
look i'm going to just wish you well now for when you disappear forever ok?
Guys, Supply and demand. Prices of house do go up and yes they do go down. I am sorry what is this bulls and bears crap??? Here is a true story and i have been to the places mentioned. My mom came from Thunder Bay Canada. One grandpa came from Thurso Scotland. They both settled in Perth Western Australia. Now in brief. My cousin Derrick built a house of probably 350m2 in Thunder Bay brand new with all mod cons on 2 acres. At the same time i bought a house in Mount Lawley Western Australia for about the same cost, ($200,000 for 200m2 of house on 1012m2 of land) as my cousin Derrick. Ok so same base price. Same time 20 years ago. Now fast forward to 2013. House in Thunder Bay value is approximately $230,000. I checked with my uncle Beritel. House in Mount Lawley value approximately $2,000,000. Now lets go to Thurso i was there 1 year ago, houses are abandoned. Value $0. Repeat $0. So while the demand is high and supply is limited prices move up. All we need to know is, is there more demand than supply. Thats it. We need to work together to work that one fundamental point out the best we can. I say places like Port Hedland and Karratha could have downward pressure on house prices. Perth as someone said has people moving to it so unlike Thurso we should not see abandoned houses. Now if some crazy out of left field event happens and people get spooked we could see house prices in Perth drop. It is possible, though. Australia is a growing country, it has always and will always have its up's and down's. And it keeps growing. The only thing i say is slow and steady wins the race. A coral reef is built one tiny skeleton at a time. Good luck guys and keep up the fight. Peter from Perth
So since April Perth house prices are up 4.4% and set an all time new high for median prices. Nice call.
If prices or the market peaked in April, why then in the September Quarter (July/Aug/Sep) are prices already up 3.86% http://www.rpdata.com/research/daily_indices.html with another all time high smashed.
Prices increased by 4.4% of April, May, June and we are not even half way through the September quarter yet prices are up 3.86%. Prices may slow for the rest of the quarter or rise further, its of little interest now that you called the peak in April. Yet prices as of today are about 6% higher now then in April.
Yeah it's amazing that with the current interest environment , people are confident to buy property, in good value locations.
This just should not be happening ..hey doomers??
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.
but then i already know the response "the crash is just another 6 months away". always a few more months off huh?
What has surprised me is the strength of the market over winter, I expected to see a much higher rise in listings and build up of stock on market as sales declined in the colder months. So far this has not happened, very little movement. Perhaps in August we will see a build up of stock as people rush to put houses on the Market ready for spring.
If we do not see a build up of stock on the market prior to spring we could have one of the best selling periods since the boom for 2004/5. If the RBA does drop rates further this spring/summer we could see substantial price rises over the rest of 2013 and first half of 2014.
What has surprised me is the strength of the market over winter, I expected to see a much higher rise in listings and build up of stock on market as sales declined in the colder months. So far this has not happened, very little movement. Perhaps in August we will see a build up of stock as people rush to put houses on the Market ready for spring.
If we do not see a build up of stock on the market prior to spring we could have one of the best selling periods since the boom for 2004/5. If the RBA does drop rates further this spring/summer we could see substantial price rises over the rest of 2013 and first half of 2014.
when perth hits double digit yoy growth, you watch the bears start throwing tantrums.
I am the love child of Tony Abbott and Pauline Hanson
You guys keep checking the daily index.... I will let you know if people begin falling over themselves to buy once more.
this is your whole problem - by the time you notice that happening it's too late.
you've willfully ignored what the index's are doing and you've missed the boat. the best you can hope for now is that rents don't go insane and hope to catch the next down turn. no doubt you'll do that same thing in the next downturn though...
I am the love child of Tony Abbott and Pauline Hanson
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