Yeah I've experienced lease renewals on some rentals, luckily, all have renewed, I was advised by the property manager NOT to increase the rental rates.... But I also have some LONGTERM tenants which have been okay, so I haven't wanted to rock the boat.
One particular tenant has virtually transformed the garden in the last 3 yrs for the better....very rare tenants to have.
Yes, they normally do not keep the garden nice. Happy tenant, happy landlord. Well done. Peter :pop:
Yeah I've experienced lease renewals on some rentals, luckily, all have renewed, I was advised by the property manager NOT to increase the rental rates.... But I also have some LONGTERM tenants which have been okay, so I haven't wanted to rock the boat.
One particular tenant has virtually transformed the garden in the last 3 yrs for the better....very rare tenants to have.
good grief!
unlike much of the rubbish I read on this site one may even think by your post that you have actually owned an investment property and managed the tenants.
And didn't you and the other twerps tell me rents would go down every month along with Price until the bulls took a 40% haircut ?
Rents HAVE been going up regularly for the last year Zaph. Go sulk ...
Median rent according to REIWA went from 380 to 375 per week in the past ~1-2 months. I am not suggesting that that is a large fall, but it does indicate they have probably started to go down slightly.
Median rent according to REIWA went from 380 to 375 per week in the past ~1-2 months. I am not suggesting that that is a large fall, but it does indicate they have probably started to go down slightly.
Perth’s median price is slipping, but it seems it might just be a sign of first time buyer activity driving sales in more affordable areas, according to the Real Estate Institute of Western Australia (REIWA).
Pointing to a slip in Perth’s median house price by 1.4% to $515,000 over the three months to August, compared to the three months to May, REIWA president David Airey said that the cause is quite likely to be first time buyers.
“This appears to be due to the large turnover of more affordable homes skewing the median downwards,” Airey said.
This also appears to correlate to those suburbs currently recording a higher level of stock turnover, which tend to sit at a median price lower than that of Perth overall. For instance, REIWA recorded that the north west and southern parts of the City of Wanneroo had the strongest jump in turnover of between 31% and 36%, with median prices sitting around the $350,000 mark (RP Data).
Destiny’s Margaret Lomas agreed with Airey’s view that new buyers are behind the overall median price drop.
“It’s definitely first time buyers as locally, the residents of investors in Perth aren’t quite ready to accept that Wanneroo area may provide some good investing opportunities," Lomas told Property Observer.
“I’d expect to see this change in the coming year or two and those first home buyers will start to see increasing competition from property investors," she said, suggesting a future pick up in these LGAs may be likely.
Further to this, the more affordable areas of Kwinana and Rockingham also saw increased turnover while in the City of Joondalup sales slumped by up to 20% across the LGA. The median house price for the suburb of Joondalup is recorded at $870,000 (RP Data), further suggesting first time buyers are the active segment in the market.
Overall, REIWA recorded a 14% decrease in properties sold when comparing August to May, despite being up by 4% from July.
Perth was one of just two capitals nationally to see a drop over the last quarter, RP Data recently recorded.
Interesting total sales are not increasing over the quarter...
So the top end seems to have hit the skids.
The top end is still down by lot. You can buy homes here that previously sold for 1m plus more than today's asking price. There are plenty of examples of $1.7 -$2m homes selling at just above $1m. Although I have watched a lot of that stock selling lately there are still a lot of folk having to sell at under ideal prices. It is hard to know how long it will take for the top end to recover, but the under $800 market is selling well and anything under the $500K mark, where the stamp duty kicks in, sells in days.
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.
Interesting last 2 months retail sales in WA have been terrible. Almost -1.5%.
Ewww.
Mining has slowed. I would say look at the net migration flow into (or out of Western Australia), that may have some valuable information. Western Australia is all about migration flow and deal flow in the resources sector. Basically supply and demand. More minerals more people to service the industry and so it goes.
Sydney and Melbourne are housing estates for the have nots of Australia, they are also the political power bases, so as long as they keep the voters happy in the most populous places in Australia with a new casino or football stadium or ferris wheel this side show keeps rolling.
The blue pill or the red pill. Peter Gnarabup :pop:
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