Re: Blocks of Land in Perth
 

Falling house prices are also impacting on household balance sheets.

The Australian Property Monitors figures, published on Thursday by Macquarie Bank, show prices fell in all eastern capitals but soared in Perth.

courtesy: http://news.ninemsn.com.au/article.aspx?id=98775

Re: Blocks of Land in Perth
 

I see they mention milk is going up soon, hummmmm, did they forget that last saturday it jumped 5c by monday that had gone to up 15c by thursday up by 24c, or is this another rise :rolleyes:

Re: Blocks of Land in Perth
 

No idea but it's scary, especially for those on benefits and low incomes.

Re: Blocks of Land in Perth
 

They won't be soaring in Perth much longer.

Re: Blocks of Land in Perth
 

No. I expect they will fall then stabilise for a bit then fall further. Where they end up is anyone's guess but while speculation about the Iran situation and high prices for oil remain, the pressure on property prices to spiral downwards will most likely continue.

Re: Blocks of Land in Perth
 

The media take this one issue (interst rises) and really get dramatic with it, it cant help, one news on wednesday night was interviewing people, all said it would affect them, one family said they would have to walk away from their home :confused:

I say :confused: because on the average loan the increase is $10 a week, if budgets are so strained now, what the hell will happen when rate rise no 2 (predicted) hits.

Personally I think all the carry on will settle down a bit on tuesday, budget night, my guess (what would I know tho) is family benefits or some sort of tax incentive for families is on the cards. There has to be something, most aussies seem pretty outraged by the cost of everything now.

Re: Blocks of Land in Perth
 

Had to laugh when they did a news item similar this week, regarding costs due to the rate hike.

This one family interviewed were going to do away with Foxtel perhaps, whilst showing she drives around in a fairly new Landcruiser :rolleyes:

getting rid of foxtel was the common sacrifice in other interviews

Re: Blocks of Land in Perth
 

One of the problems is that people have overstretched their finances and credit. One guy on the radio the other day managed to get a homeloan that in effect leaves him around $100 or so a week to live on after the mortgage payment is made.

I have to seriously question the ethics of a mortgage lender approving such an income on such a mortgage. People ideally shouldn't commit more than 33-35% of income to mortgage repayments. Unfortuantely reality is making this impossible for many.

Re: Blocks of Land in Perth
 

yep, the lending criteria of the lenders has been totally lax in recent times. That and the myriad of finance loans available has added to the already easy credit society we have today along with the $trillion dollars of debt.

Once the economy starts to contract we will see the banks etc start getting serious and tighten up the lending multiples, start calling in loans more ruthlessly and thus make it not so easy to buy a property.

Re: Blocks of Land in Perth
 

Then it will be time to look for political scapegoats, I think Howard will have retired by then.

Re: Blocks of Land in Perth
 

When do you think salaries will increase in Perth? I am contracting in the UK at the moment, because quite simply the salaries in Perth/WA are abysmal. Especially if you take into consideration that house prices, petrol and general cost of living have shot up. I've been away from Perth now for almost 18months, stuck in London ( :mad: ) has anyone noticed a general rise in salary or it is still fairly low compared to rest of Australia?

Re: Blocks of Land in Perth
 

In engineering rates are still rising due to the massive skills shortage & are nearly on a par with London. Not sure about other professions.

In Perth, engineering is king whilst in London IT is.

Long live engineering.:)

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Yeah I work for an investment bank in London in IT so money is very good. It will be hard to come back to Perth and get a massive drop in salary.

Re: Blocks of Land in Perth
 

There are bargains out there ...

We've just secured 750m2 of prime real estate in Mindarie ... for the measly price of just $260K.

Maybe we just got lucky !

What concerns me about the sprawling Northern Burbs is the lack of infrastructure ... the freeway is already a bad dream let alone another 10,000 home owners moving in at Jindalee / Butler / Somerly. I mean ffs, we are talking 2 lanes from Hepburn onwards ... crazy fools.

I drive to Myaree every morning and it ain't pretty.

Re: Blocks of Land in Perth
 

What area of IT do you work in?
What hourly rate are you earning in the UK?
What hourly rate are you expecting in Perth?

Its much more on a par with the rest of Australia now, I had to do a Aussie bureau of statistic survey last week and the feedback I got on rates was that contract rates were pretty much on a par with Eastern States.
Generally there's a candidate shortage in Perth (lots of graduates with zero experience, lots of applicants from people in Asia/India with no thought to needing a visa and generaly poor communication and personal skills)