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Perth house prices to jump again
Topic Started: 7 Oct 2013, 12:35 PM (3,461 Views)
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Perth house prices to jump again

Perth house prices are tipped to rise in coming months despite analysts warning the Reserve Bank will have to consider more rate cuts next year to prop up the economy.

RP Data analysis suggests current sharp increases in prices in Sydney and Melbourne will be followed by further growth in Brisbane, Adelaide and Perth.

Figures this week showed house values in the nation's two biggest cities growing at an annual rate of more than 20 per cent.

Research analyst Cameron Kusher said Sydney and Melbourne traditionally led house prices, reacting more quickly to rate cuts and economic conditions than other capitals.

In 2001, Perth house prices barely moved, despite strong growth on the east coast. It was not until mid-2004 that Perth prices surged. Over the past 10 years Perth prices have risen 143 per cent compared with 80 per cent in Melbourne and Brisbane.

http://au.news.yahoo.com/thewest/a/-/newshome/19280394/perth-house-prices-to-jump-again/
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newjez
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Interesting - anyone have a link to the rp data story this is based on?
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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goldbug
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What are Perth houses that they need to jump again, are they grasshoppers, rabbits? They went up didn't they? Pigiron says they clawed their way up 6% this year, now they need to jump, like a roo or a rabbit? Whatever happened to rational markets... Long gone it seems.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Blondie girl
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goldbug
8 Oct 2013, 07:21 AM
What are Perth houses that they need to jump again, are they grasshoppers, rabbits? They went up didn't they? Pigiron says they clawed their way up 6% this year, now they need to jump, like a roo or a rabbit? Whatever happened to rational markets... Long gone it seems.
Yeah gold bugged nutter.

It's just too hard to work out what's going on with Perth, you better concentrate on that gold.

When dummys like you expect & hope Perth to be up shit creek .

Just not rational, better wait & see , mybe it's all a conspiracy, it might make you feel better.
Edited by Blondie girl, 8 Oct 2013, 09:59 AM.
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.
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Mike
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newjez
7 Oct 2013, 10:20 PM
Interesting - anyone have a link to the rp data story this is based on?
http://au.news.yahoo.com/thewest/a/-/newshome/19280394/perth-house-prices-to-jump-again/

Quote:
 
Perth house prices are tipped to rise in coming months despite analysts warning the Reserve Bank will have to consider more rate cuts next year to prop up the economy.

RP Data analysis suggests current sharp increases in prices in Sydney and Melbourne will be followed by further growth in Brisbane, Adelaide and Perth.

Figures this week showed house values in the nation's two biggest cities growing at an annual rate of more than 20 per cent.

Research analyst Cameron Kusher said Sydney and Melbourne traditionally led house prices, reacting more quickly to rate cuts and economic conditions than other capitals.

In 2001, Perth house prices barely moved, despite strong growth on the east coast. It was not until mid-2004 that Perth prices surged. Over the past 10 years Perth prices have risen 143 per cent compared with 80 per cent in Melbourne and Brisbane.

Mr Kusher said the strong growth in Sydney and Melbourne would ease but other capitals - including Perth - would continue growing.

The Reserve's 53-year equal-low interest rate is mainly driving housing prices.

Expectations of more rate cuts have been wound back because of market perceptions that the Reserve is worried about housing price bubbles, and early signs the overall economy is improving.

But Westpac chief economist Bill Evans, one of those who had believed the Reserve would cut rates next month, now thinks mortgage holders will get a further boost in February.

He said economic growth was still likely to be well below trend, putting pressure on jobs.
"By February, with the Australian dollar heading in the wrong direction, a clear need to lower both domestic and global growth forecasts, confidence waning and the surge in house prices looking contained, the Reserve Bank is likely to return to easing policy with two more cuts expected in February and May," Mr Evans said.


This matches my view. As I have stated previously, Perth's growth so far is built on strong owner occupier demand (FHB & Upgraders) with investor making up less then 30% of the market. That is the sign of a very healthy market. Perth has the strongest FHB market in the nation, which is a leading indicator of the strength and pent up demand in the market.

http://mike-globaleconomy.blogspot.com.au/
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skamy
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goldbug
8 Oct 2013, 07:21 AM
What are Perth houses that they need to jump again, are they grasshoppers, rabbits? They went up didn't they? Pigiron says they clawed their way up 6% this year, now they need to jump, like a roo or a rabbit? Whatever happened to rational markets... Long gone it seems.
Property has always been a good steady investment ,sometimes there will be downturns but these are rare - most of the time prices rise and prices usually rise rapidly coming out of a downturn. - It is you who have fallen for some of the more outlandish tales of the gold spruikers who have told you silly stories of this new world where people compete more strongly for gold coins than they do for the roof over their heads. Unbelievable :re:
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.
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Veritas
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skamy
8 Oct 2013, 10:31 AM
goldbug
8 Oct 2013, 07:21 AM
What are Perth houses that they need to jump again, are they grasshoppers, rabbits? They went up didn't they? Pigiron says they clawed their way up 6% this year, now they need to jump, like a roo or a rabbit? Whatever happened to rational markets... Long gone it seems.
Property has always been a good steady investment ,sometimes there will be downturns but these are rare - most of the time prices rise and prices usually rise rapidly coming out of a downturn. - It is you who have fallen for some of the more outlandish tales of the gold spruikers who have told you silly stories of this new world where people compete more strongly for gold coins than they do for the roof over their heads. Unbelievable :re:
No it hasn't you fucking idiot.

Why do you keep repeating that when it isn't true?
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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Kulganis
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It's really because it is difficult to think beyond memory, Skamy is being truthful, but only if you ignore ~100 years prior to about 1989:

Posted Image

Or ~60 years prior to about 1953:

Posted Image
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry

"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
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Pig Iron
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Bogan scum

Kulganis
8 Oct 2013, 12:27 PM
It's really because it is difficult to think beyond memory, Skamy is being truthful, but only if you ignore ~100 years prior to about 1989:

Posted Image

Or ~60 years prior to about 1953:

Posted Image
so what did a house in 1930 look like compared to today?

you are just another bear trapped in 1/2 truths....
I am the love child of Tony Abbott and Pauline Hanson
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herbie
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Pig Iron
8 Oct 2013, 06:38 PM
so what did a house in 1930 look like compared to today?
Like this in my neck of the woods Piggy - Not everyone's cup of tea ... But not all that shabby either perhaps? :

https://www.google.com.au/search?q=old+queenslander+for+sale&tbm=isch&tbo=u&source=univ&sa=X&ei=57dTUqrGJe2YiAfnuIDgCQ&ved=0CGcQsAQ&biw=1366&bih=622&dpr=1
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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