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Perth Housing Boom: House prices boom 3% in November
Topic Started: 1 Dec 2013, 01:23 PM (5,012 Views)
Mike
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http://au.news.yahoo.com/thewest/a/-/newshome/20104582/house-prices-hit-record/

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Perth's median house price has hit a record $535,000, fuelled by a resurgence of buying close to the city and the continued strength of the first-homebuyer market.

The Real Estate Institute of WA's snapshot for the three months to November shows the market has rebounded from a big slump in turnover in the September quarter to surge past the previous record of $525,000, set in the three months to June.

REIWA president David Airey attributed the result to a change in the composition of home sales in the three months to November as buyers sought inner-city property.

"The quarterly median (price) for the three months to November was up by almost 4 per cent and due mainly to the composition of sales during this period after strong first-homebuyer activity pulled the median house price down to $510,000 in the September quarter," Mr Airey said.

"While first-homebuyer activity is still very evident, there was a solid increase in sales within a 10km radius of the CBD and a softening of activity in outer areas."

REIWA's data shows the surge in inner-city property was not matched by some coastal regions north and south of the city. Parts of Wanneroo, Joondalup and Rockingham showed modest weakening of sales activity.

WA Treasury data shows 1969 first-homeowner grants were paid out in October, the second highest monthly total since December 2009. The State Government changed the grant scheme on September 25 to $10,000 for newly built homes and $3000 for established homes.

The increased housing activity is good news for Treasurer Troy Buswell and the State Government, whose cash-strapped Budget will benefit from an injection of stamp duty revenue.

Treasury's Budget update for the September quarter, published on Friday, showed stamp duty revenue had jumped $72 million compared with the same period last year, to $404 million.

The jump in prices has been accompanied by strong supply growth, with the number of properties on the market at its highest point for 2013 after being at below-average levels for most of the year. There are 8656 dwellings and 1199 land lots for sale, according to REIWA data.

The rental market has continued to favour tenants, with rents falling and supply growing.
The median rent fell about 2 per cent in the past three months.


I told you bears about record sales volumes to first home buyers would feed into a large surge for the upgrader market when you all called Perth had peaked. I told you sales in the upgrader market was surging. You all jumped on limited data with no perspective for what was actually happening on the ground. Once again I called it spot on prior to any data or news reports months in advance. Next time listen to what I tell you.

Now Reiwa and RP data both showing large increase in property prices for Perth over the past 3 months. As RP data is a few months behind that means the data is a lot stronger for spring then bears expected. I told this forum it would be a hot spring and that is exactly what has happened.

Perths median property value is now $69,000 up from the bottom of the market. If Reiwas figures are correct then Perth is now 14.8% above the bottom of the market, which is pretty close to RP datas 14.1%.

http://mike-globaleconomy.blogspot.com.au/
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Catweasel
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Mike
2 Dec 2013, 10:14 AM
http://au.news.yahoo.com/thewest/a/-/newshome/20104582/house-prices-hit-record/




I told you bears about record sales volumes to first home buyers would feed into a large surge for the upgrader market when you all called Perth had peaked. I told you sales in the upgrader market was surging. You all jumped on limited data with no perspective for what was actually happening on the ground. Once again I called it spot on prior to any data or news reports months in advance. Next time listen to what I tell you.

Now Reiwa and RP data both showing large increase in property prices for Perth over the past 3 months. As RP data is a few months behind that means the data is a lot stronger for spring then bears expected. I told this forum it would be a hot spring and that is exactly what has happened.

Perths median property value is now $69,000 up from the bottom of the market. If Reiwas figures are correct then Perth is now 14.8% above the bottom of the market, which is pretty close to RP datas 14.1%.
Catweasel say it wonderful for rapscall.

Catweasel not follower of rapscall prophecies,

but it know the euphoria,

which can the emerge,

when rapscall believe that its premonitions,

have actualize in a reality.

And every the possibility,

was a right for a right the narrative,

or a right for narrative,

which eventuate the directionally.

But preach to mouse of its prowess,

enter realms of self the importance,

much like mouse with new hair regrowth treatment,

or a young the mouse buy the Nissan Skyline,

or like mouse drinking the big with mouse flock in a Bali, SEA, or a Niseko.
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Black Panther
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More forceful than ever, thrusting upwards. You can feel the heat.
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Dr Kinetoscope
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Black Panther
2 Dec 2013, 10:31 AM
More forceful than ever, thrusting upwards. You can feel the heat.
Not unlike Father O'Reilly in the confessional back in high school, eh Black Panther?
Architecture Porn
ShadBerg's torrid Macrobusiness love affair
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Black Panther
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Dr Kinetoscope
2 Dec 2013, 11:26 AM
Not unlike Father O'Reilly in the confessional back in high school, eh Black Panther?
Wrong Dr, Father at Church was a great bloke.

Very Christian and Decent.

Merry Christmas :lol
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Mike
2 Dec 2013, 10:14 AM
The rental market has continued to favour tenants, with rents falling and supply growing.
The median rent fell about 2 per cent in the past three months.
no issue here
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newjez
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Black Panther
2 Dec 2013, 11:56 AM
Wrong Dr, Father at Church was a great bloke.

Very Christian and Decent.

Merry Christmas :lol
So he gave you a Mars bar then?
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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Black Panther
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newjez
2 Dec 2013, 12:31 PM
So he gave you a Mars bar then?
No, he wasn't a Protestant. :lol
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Blondie girl
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Black Panther
2 Dec 2013, 12:33 PM
No, he wasn't a Protestant. :lol
You know here you can stick your god hey?

Btw, reading your sexually charged comments makes me wonder if you are ...ahhh hmmm
A closet gay .

Come out
Come out

Oooohh Puddy cat

Go see the light
:o :o :re: :o

Now on a serious note for Perth...

What it needs is an efficient public transport system...

People may be living in those outer suburbs coz its cheaper..but they are the ones forking more $$$ in car /fuel costs than those living in or near the city areas....

The govt need to provide better transport for the community.
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 $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Black Panther
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Blondie girl
2 Dec 2013, 12:55 PM
You know here you can stick your god hey?<br /><br />Btw, reading your sexually charged comments makes me wonder if you are ...ahhh hmmm <br />A closet gay .<br /><br />Come out <br />Come out<br /><br />Oooohh Puddy cat<br /><br />Go see the light <br /> :o :o :re: :o <br /><br />Now on a serious note for Perth...<br /><br />What it needs is an efficient public transport system...<br /><br />People may be living in those outer suburbs coz its cheaper..but they are the ones forking more $$$ in car /fuel costs than those living in or near the city areas....<br /><br />The govt need to provide better transport for the community.
Every women Ive had nicknamed me the Destroyer

I ruined their sex lives. All others arent even a close second !!!
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