Perth property listings - under 12,000.

[MrCrumbpacker]

Just cause a particular risk/return proposition for Australian property does not make sense to you, as long as it makes sense to others it is still a 'market'. You can't try to re-define a term if the variables within that term do not correspond to what you think is 'right' or 'wrong'. If you don't agree with the yields etc then simply do not purchase property here. Buy it elsewhere.

Well yes fair enough, and at present I wouldn't be going long on Australian property, but what do you think of the German example I linked.

I think the market point is perhaps a matter of semantics, however, just because things make sense to others, it doesn't follow that is is correct.

Many 'others' thought that buying and selling tulips to each other for a fortune made sense during the 'tulip bubble', and yes, there was a de facto market, but it soon fell apart.

 

[feihong]

down a couple more hundred this week... I think it was 11,557.

down to 11397 for the week ending 25/7/12.

 

[HotRod]

down a further 739 to 11397 for the week ending 25/7/12.

All aboard, toot, toot.

 

[HotRod]

Sales for the week were 739, down from 1038 four weeks ago but up from 577 in the same week last year.

 

[Aaron Sice]

looks like this stock is being chewed through quicker than i thought.

 

[Ausprop]

down to 11397 for the week ending 25/7/12.

where did you find this number please? presumably on reiwa.com.au somewhere?

 

[redwing]

Here Ausprop

 

[HotRod]

Having a lease on one of my IPs renewed.

Current rent is $410 and will be going to $490.

Tenants realised they would be lucky to find something where they are for less than $500 and will probably stay.

 

[Rixter]

Yeah Im getting $50-$60 each a week increases on my Perth located IP's. Supply is drying up.

 

[Kingbrown]

I had the first viewing for my apartment in Mount Lawley today (for rent).

Older block, nothing special, one-bedder, reasonably busy street, just a nice tidy renno.

Advertised at $375 per week, first viewing today.

In the agents words "we won't be needing a second viewing".

She was incredibly surprised at the level of interest.

 

[bene313]

Yeah Im getting $50-$60 each a week increases on my Perth located IP's. Supply is drying up.

Less than six months ago we were looking for a 2-3 bedder to rent roughly in between the cbd and beach.

Basically we almost ended up buying something instead (had finance and even filled out an offer form). Due to lack of supply on the rental front. Got a lease in the end and the purchase offer was never sent.

Two friends in the same situation but no option to purchase. Close to giving up out of frustration.

The only reason we got our lease was because we got chummy with the leasing agent, through a mutual friend.

Very tight market indeed.

 

[Ausprop]

PMs take so long to get with the program tho, for example I wonder if the owner of this property will be any the wiser that their property is about to be leased at least $80pw under market:

http://www.realestate.com.au/property-unit-wa-mandurah-408244959

 

[INVSTOR]

PMs take so long to get with the program tho, for example I wonder if the owner of this property will be any the wiser that their property is about to be leased at least $80pw under market:

http://www.realestate.com.au/property-unit-wa-mandurah-408244959

Yer I'm noticing that too!

 

[Alex P Keaton]

Mine was rented for $230 & now advertised for $280. Just waiting now to see how the home open went. . Anything over $270 will cover my repayments. I'll just be paying for the other associated ip expenses!

 

[Rixter]

Mine was rented for $230 & now advertised for $280. Just waiting now to see how the home open went. . Anything over $270 will cover my repayments. I'll just be paying for the other associated ip expenses!

How long have you held the property?

 

[HotRod]

The one I mentioned, I have held for 10 years come September.

It will finally become CF+ at that point with the increased rent of $490ish.

From memory the rent stared at about $210.

That's about an 8.8%pa compound increase over the 10 years.

 

[Rixter]

The one I mentioned, I have held for 10 years come September.

It will finally become CF+ at that point with the increased rent of $490ish.

Damn that's a long time to become CF+

Where/what is it and how much did you pay?

 

[HotRod]

Damn that's a long time to become CF+

Where/what is it and how much did you pay?

That was the first one we bought, a 3x2 TH in Maylands for $235K before we knew about NG, CF+ etc. Have kept it for various reasons, which are all the wrong reasons, just never had the heart to give it the flick.

But interesting to see that it would take a NG property (with 105% borrowed funds) 10 years to start to turn CF+.

At least Mr Swann will be happy now.

 

[Rixter]

That was the first one we bought, a 3x2 TH in Maylands for $235K before we knew about NG, CF+ etc. Have kept it for various reasons, which are all the wrong reasons, just never had the heart to give it the flick.

But interesting to see that it would take a NG property (with 105% borrowed funds) 10 years to start to turn CF+.

At least Mr Swann will be happy now.

Yeah each of mine are also 105% borrowings.

That one I mentioned above is a villa in Cannington. Bought it in 2001 for $123k and put a tenant in at $160 per week.

Now days I reckon its value is around $380k-$390k and rents increasing from $360 to $420 per week.

From memory it became CF+ 8-9 years ago and is well & truly positive geared now.

 

[bene313]

That was the first one we bought, a 3x2 TH in Maylands for $235K before we knew about NG, CF+ etc. Have kept it for various reasons, which are all the wrong reasons, just never had the heart to give it the flick.

Are you talking CF+ before tax?

I would have thought that after-tax, CF+ would have occurred a few years back on something like a 3x2 TH with a depreciation schedule.