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there is some really good buying around ATM. I see some places selling brand new for below replacement - not feasible to remain like this with an underlying housing shortage.
*************************I would completely rule out option 2... I recently read that new home builders can expect an increase of $30k this year. expect dramatic inflation pressures, not price reductions.
Demand for vacant blocks in $190-250k is increasing while demand for blocks $250-$350k is decreasing.
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Dear Invstor,
1. Extrapolating from your a/m post further, with Perth median land price presently reported at A$265,000 as at 30th Sep 2007 at REIWA.com, we can then expect this median land price in Perth to fall soon in the near future if what you are saying is indeed true at this point in time.
2. Incidentally, do you have the specific data details concerning the present ongoing effective market demand vs market supply as well as the various ongoing sale of vacant land lots within the Perth property market, to share with us here, at this point in time?
3. Is the vacant land sale still generally on the increase or has it started to decline drastically since July 2007?
4. According to Residex, the total number of house sales achieved for the Perth Property Market in 2007, has amounted to 30,749. It is stll some 1.65% higher than that reported in its previous 12 months in 2006.
http://www.residex.com.au/newsletter/source2008_01aMC.html
5. Based on Residex house sale data/trend and with WA continue to report a strong State Economy and tight labour market situation, I see no immediate fall in the Perth housing price.
6. Casper007 has further suggested that with an average of 500 new migrants arriving in Perth per week, we can expect the Perth Property market to take off again in 2008.
7. For your further comments and discussion, please.
8. Thank you.
Cheers,
Kenneth KOH
Ausprop - Where are the properties selling for less than replacement? Two Rocks area?
By the way Ausprop and Allblack, I'm feeling so confused about WA market right now I don't know which way to go. Eventually I want to go coastal though before all the Poms buy it. I hear Aus is in great demand from the rest of the world.