"Perth property in freefall"
- Thread starter MrCrumbpacker
- Start date
yeah the PEET marketing is pretty sad.
the worst one is on Burns Beach Rd "this site is marked for a school".
they fail to mention that apparently Joondalup veto'd the change in use zoning and from what i can gather the Curriculum Council veto'd the position.....
....3 years ago.
yet the sign still stands....
the worst one is on Burns Beach Rd "this site is marked for a school".
they fail to mention that apparently Joondalup veto'd the change in use zoning and from what i can gather the Curriculum Council veto'd the position.....
....3 years ago.
yet the sign still stands....
Being personally in a position of rent or buy, yes, it is starting to become much of a muchness. However, this depends on your area.
We will probably buy, however the argument for renting is that you are preserving your capital position if the market heads south.
Does anyone seriously expect to see any growth in the foreseeable future? I certainly do not. The probability of sideways growth for years to come is high IMHO.
What address are you referring too??....Perth is BIG place with lots of different markets.
Not until the global economy stabilises, and who knows when that will be. It may never again be at the point it was pre-GFC when confidence was riding high and the sky was the limit.
Until then, while people are continously cautious about the ecomony collapsing and house prices going with it, it will tread water at best. Need to operate outside the box I reckon.
Until then, while people are continously cautious about the ecomony collapsing and house prices going with it, it will tread water at best. Need to operate outside the box I reckon.
Not referring to a specific market. Just the metro market generally. Generally I'm not expecting growth here.
theres a huge demand for rentals in areas close to infrastructure, but values are still subdued. good buying opportunity.
the only manufactured equity opportunites i see, are in commercial or development.
What is paper value adding ?
Rents increasing?
Had an interesting article in a newsletter from local Real Estate agent citing an example of high demand for rental property in my area. The example used was a property that was advertised for $650 actually rented for $750 with a lot of applications for same property.
It had me thinking of moving out of my PPOR (actually it would take a crane to get me out of here...so this was shortlived fantasy).
Just has me wondering what it all means. Does it mean we have under supply of housing in the West, or is it just that more people are renting and not buying?
It does seem that there is a big demand for rentals in Perth.
Had an interesting article in a newsletter from local Real Estate agent citing an example of high demand for rental property in my area. The example used was a property that was advertised for $650 actually rented for $750 with a lot of applications for same property.
It had me thinking of moving out of my PPOR (actually it would take a crane to get me out of here...so this was shortlived fantasy).
Just has me wondering what it all means. Does it mean we have under supply of housing in the West, or is it just that more people are renting and not buying?
It does seem that there is a big demand for rentals in Perth.
Its when a property value can be increased with the stroke of a pen.. ie DA, subdivision, rezoned for higher density residential or commercial or retail etc etc.
How many subdivisions have you done with a stroke of a pen?? I'm guessing it was a very expensive stroke of a pen?
No subdivisions. Its not my chosen investment strategy. CGA is my niche.
Let's hope history repeats itself!
This is just a generalisation of what has been recorded from numbers/statistics say for the last 100 years. So the general rule is prices double every 7 to 10 years. In reality it all depends on many factors (location, infrastructure changes, amenities, schools, close to job, gentrification etc...basically demographics so many variables there....).
So no one sets limits, if we all knew where they would double in the shortest of time most of us would chase up and buy there. BUT, for those of us who are serious and have long term strategy in mind we all hope the history will not disappoint us.
So the system is Australian property history for the last 100 years.
In contrast IMHO, income is mainly controlled by governments...so no comparison there... (one is property asset class and the other "currency").
Im really puzzled by this 7 year doubling.Since when did houses double every 7 years? who sets this time limit? Spruikers? is there a system in place to make sure this is achievedwhy cant it be 4? So historically prices always doubled every 7 years? i don't believe it.
So dos this mean household income doubles every 7 years too? now that does not happen right?
This is just a generalisation of what has been recorded from numbers/statistics say for the last 100 years. So the general rule is prices double every 7 to 10 years. In reality it all depends on many factors (location, infrastructure changes, amenities, schools, close to job, gentrification etc...basically demographics so many variables there....).
So no one sets limits, if we all knew where they would double in the shortest of time most of us would chase up and buy there. BUT, for those of us who are serious and have long term strategy in mind we all hope the history will not disappoint us.
So the system is Australian property history for the last 100 years.
In contrast IMHO, income is mainly controlled by governments...so no comparison there... (one is property asset class and the other "currency").
OZ different to US but be safe and have a plan B!
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Not necessarily silverx, if the banks do not ask for revaluation and you can keep up the repayments then I doubt it. Also in US these were non recourse loans, so all you had to is to give back the house with the keys. In OZ banks lending practices differ, right?
However if you are really worried work on your plan B, start giving up soemthing and perhaps park the money into savings or offset accounts. Think what you could do to survive and to solve the problem.....
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Not necessarily silverx, if the banks do not ask for revaluation and you can keep up the repayments then I doubt it. Also in US these were non recourse loans, so all you had to is to give back the house with the keys. In OZ banks lending practices differ, right?
However if you are really worried work on your plan B, start giving up soemthing and perhaps park the money into savings or offset accounts. Think what you could do to survive and to solve the problem.....
Gee Aaron, so what's the decision behind that?
