Perth property listings - under 12,000.

306888_10151009713363750_268121595_n.jpg


Perth property listings @ 11970, figures just released.

The old 2007 benchmark of 12,000 has just been breached, let alone the 2011 adjusted figure of 13,500.

I don't think this data wil be fully appreciated until just before Christmas.

I expect this to be fantastic news for Sydney as well, we should start seeing some confidence-based turnaround in possibly the most land-locked and definitely the most populous city in the country.

I have been saying for a long time that gold and property to rise together as they both become not only a safe-haven but a re-evalutated asset (not revalued). With gold being reassessed as a tier 1 asset for international trade from Jan 1 2013, meaning no leverage, i imagine the banks might start getting aggressive into property lending for their returns instead of manipulating the Ag/Au price by naked shorting 505 tonnes in 4 hours, etc etc.

If anyone mentions the word "boom" i will hunt you down through your IP address and do really bad things to you.

We have, in WA at least, a balanced market in anyone's language; balanced being defined as one providing historically average YOY returns.

It's good to see that the fundamentals for this state have wavered little, and now the confidence should hopefully start to come back and provide us with a strong property market until 2020ish.
 
Wow, that's quite a drop from last week, in the order of 700, IIRC.

The trend is still downwards.

Market definitely on the upswing.
 
City wide median yields are still not very attractive, but I'm sure that's not representative of every suburb... so Aaron what Perth suburbs would you be looking at in Perth if buying for investment and hunting for a decent yield?
 
Have a mate who has just been done over by the ex having to sell a few ip's,

for the divorce had one valued in a suburb of freo and valuer put $450k on it.

Listed at $460+ and at first open two weeks ago had three offers and sold for $490k on the monday

valued for top up purposes in 2010 at $400k in the tough times
 
306888_10151009713363750_268121595_n.jpg


Perth property listings @ 11970, figures just released.

The old 2007 benchmark of 12,000 has just been breached, let alone the 2011 adjusted figure of 13,500.

I don't think this data wil be fully appreciated until just before Christmas.

I expect this to be fantastic news for Sydney as well, we should start seeing some confidence-based turnaround in possibly the most land-locked and definitely the most populous city in the country.

I have been saying for a long time that gold and property to rise together as they both become not only a safe-haven but a re-evalutated asset (not revalued). With gold being reassessed as a tier 1 asset for international trade from Jan 1 2013, meaning no leverage, i imagine the banks might start getting aggressive into property lending for their returns instead of manipulating the Ag/Au price by naked shorting 505 tonnes in 4 hours, etc etc.

If anyone mentions the word "boom" i will hunt you down through your IP address and do really bad things to you.

We have, in WA at least, a balanced market in anyone's language; balanced being defined as one providing historically average YOY returns.

It's good to see that the fundamentals for this state have wavered little, and now the confidence should hopefully start to come back and provide us with a strong property market until 2020ish.

I just checked my calendar

Week ending 7th JULY 2012 !? :confused:

(1) The weeks not yet ended and (2) we're only at the 4th JULY 2012
 
typo? funny stuff!

hobo, i would say anything inside the 5 km cbd radius, or along any train line, near any uni or near water (ie west of marmion ave or no more than a block away from the river).

yields are insane here. im in burns beach and the potential rent for this place would cover my mortgage and then some.

theres an opportunity just down the road from me that if developed right, would yield nearly 12%.
 
it's quite extraordinary - the market seems oblivious to plunging stock levels, soaring rents, population influx and no meaningful new supply. Is there no expectation as to where this is heading?
 
I noted with the above infograph that available land was going up i.e. 2,545

REIWA had previously stated at around 2,800 levels that land was over represented as more developers were now listing, so maybe this 2,545 is more around normal levels?

At the start of the year there were 2,908 rental properties available in Perth, falling to 2,105 in early March and 2,507 in May and according to the infograph now at 2,653 (end of June?)

Also from REIWA

REIWA Deputy President Ian Cornell said while it was a positive sign with confidence returning to the established market, storms clouds are brewing around housing supply in Perth.

“We have seen a dramatic collapse of building approvals for April following the introduction of the new Building Act on 2nd April,” Mr Cornell said.

“In recent weeks the Housing Industry Association has expressed deep concerns with new government red tape which it believes is hampering the building sector and slowing the construction of homes.

“If this persists for a few more months we will see a fall in new dwelling starts for both the June and September quarters.

“This will ultimately lead to a supply imbalance that will, in turn, put pressure on established housing. The knock-on effect will ripple through the existing residential housing market and put price pressure on both buyers and renters for the latter half of 2012.

“In April, building approvals slumped by an extraordinary 46.7 per cent, which means that buyers are now turning to the existing market and stock numbers are falling.

“Ultimately, this means that the increased competition for houses and rental properties on the market will push up the prices for both as we move into spring,” Mr Cornell said.

There was also this

WA population growth soaring

WA’s population growth rate has accelerated, leaving the rest of the country in its wake, with the State adding 67,000 residents through 2011.

Figures released today by the Australian Bureau of Statistics put WA’s population growth rate at 2.9 percent – by far the strongest in the country with the national growth rate ebbing to 1.4 percent.

There are now an estimated 2.4 million people living in WA.

The 67,400 increase in population through 2011 was in absolute terms bigger than the 66,500 added in Queensland (where the population reached 4.5 million).

It was also just short of the 71,000 added to NSW (population 7.3 million) and Victoria which added 75,400 to take its population to 5.5 million.
 
It's a matter of getting in a position to ride the next Perth wave to the max. It makes me laugh when respected commentators like Margaret Lomas think Perth is a few years away from more growth because yields are too low. She obviously does not spend a lot of time in WA anymore to know what is happening on the ground. A tsunami is building. We may get 20% growth quite quickly me thinks.
 
Love Perth you never have to wait long for the sun to come out or property to move. Early stages of recovery but looking good.
 
In todays news $5.50 coffee :)

Coffee cost no barrier: Hames

Last month, Perth soared into the world's 20 most expensive cities list in the 2012 Mercer Worldwide Cost of Living Survey.

It ranked 19th, below Sydney (11th) and Melbourne (15th) but up from 30 on last year's list.

Last month, BHP Billiton chief Marius Kloppers expressed shock at the $5.50 it cost him to buy a coffee in Perth. He said it was a sign of how hard it was to attract labour to WA, which forced up costs.
 
worst part is when you fork out $5.50 and its a bad one. As the guy in the country town said..."one latte mate - must be yours?" me - no I ordered a cappuccino. "yeh it's all the same sh@#". Indeed it was, I had to throw it out it was so bad
 
I'd be very very surprised if Kloppers actually "expressed shock" at the price of a cup of coffee.

I reckon it'd be closer to the truth that the journalist simply pulled that **** out of his ****.
 
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