News just in - man with vested interest says Perth property market recovering
Feb 17th 2009, 12:57 pm
#16
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Re: News just in - man with vested interest says Perth property market recovering
In Australia I think it is the opposite to this. The government (and the real estate industry via the media) constantly talked the economy up for most of last year until ultimately they began to look a bit stupid - emperor's new clothes and all that.
This could have impacted negatively on households who may have splashed out on goods thinking that all was rosy when in fact it was/is hitting the skids.
This could have impacted negatively on households who may have splashed out on goods thinking that all was rosy when in fact it was/is hitting the skids.
Feb 17th 2009, 11:23 pm
#17
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Re: News just in - man with vested interest says Perth property market recovering
[QUOTE=Lorrielou;7292939]
What are you suggesting....censoring the press ??? They are not talking the economy down, it's doing that all on its own !!
I'm not saying everyone should lie and say everything is rosy because clearly it isn't but really, everyone knows things are bad and I can't see how shouting it from the rooftops every 5 minutes helps.
Having said that, it really is grim for the poor, unfortunates who are suffering job lossess and this isn't meant to dismiss them. I just don't think it's helpful to keep talking the credit crunch up and that I think the media on the whole isn't helping and should JUST SHUT UP!
Having said that, it really is grim for the poor, unfortunates who are suffering job lossess and this isn't meant to dismiss them. I just don't think it's helpful to keep talking the credit crunch up and that I think the media on the whole isn't helping and should JUST SHUT UP!
Feb 17th 2009, 11:36 pm
#18
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Re: News just in - man with vested interest says Perth property market recovering
Personally I've never been busier ...
The public at large are building new homes in their droves ...
First timers
2nd / 3rd time builders
Downsizers
You name it ... it's busy. The confidence amongst consumers is still strong, well, in the new housing market anyway.
Land will never be more affordable in Perth, interest rates are tumbling ... builders are holding prices ... why wait ...???
Come on in ... the waters fine.
The public at large are building new homes in their droves ...
First timers
2nd / 3rd time builders
Downsizers
You name it ... it's busy. The confidence amongst consumers is still strong, well, in the new housing market anyway.
Land will never be more affordable in Perth, interest rates are tumbling ... builders are holding prices ... why wait ...???
Come on in ... the waters fine.
Feb 18th 2009, 3:04 am
#19
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Joined: Jan 2008
Location: Perth NOR
Posts: 242
Re: News just in - man with vested interest says Perth property market recovering
Personally I've never been busier ...
The public at large are building new homes in their droves ...
First timers
2nd / 3rd time builders
Downsizers
You name it ... it's busy. The confidence amongst consumers is still strong, well, in the new housing market anyway.
Land will never be more affordable in Perth, interest rates are tumbling ... builders are holding prices ... why wait ...???
Come on in ... the waters fine.
The public at large are building new homes in their droves ...
First timers
2nd / 3rd time builders
Downsizers
You name it ... it's busy. The confidence amongst consumers is still strong, well, in the new housing market anyway.
Land will never be more affordable in Perth, interest rates are tumbling ... builders are holding prices ... why wait ...???
Come on in ... the waters fine.
Feb 18th 2009, 3:12 am
#20
Lost in BE Cyberspace
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Posts: 15,526
Re: News just in - man with vested interest says Perth property market recovering
STOP THE PRESS - Melbourne's houses are now more affordable !
"The improvement in housing affordability means those on a more modest income can now contemplate a home of their own," the HIA's chief executive Chris Lamont said.
http://www.news.com.au/heraldsun/sto...1-2862,00.html
"The improvement in housing affordability means those on a more modest income can now contemplate a home of their own," the HIA's chief executive Chris Lamont said.
http://www.news.com.au/heraldsun/sto...1-2862,00.html
I've been following the market via this thread
http://britishexpats.com/forum/showthread.php?t=569207
Last edited by ozzieeagle; Feb 18th 2009 at 3:14 am.
Feb 18th 2009, 3:58 am
#21
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Posts: 2,375
Re: News just in - man with vested interest says Perth property market recovering
I wouldn't call $400-$500K the lower end of the market ... no way.
That's Mr & Mrs Average ...
$220 - $250K block of land & a very nice $200K plus home ...
3
That's Mr & Mrs Average ...
$220 - $250K block of land & a very nice $200K plus home ...
3
I guess you are building in the lower end of the market, 400 – 500K (land and home) as this market seems quite buoyant. I believe that many first home buyers are being lured in with the 21K grant, low interest rates – that will eventually rise and ‘extras’ and upgrades being thrown in by the builders. It will be interesting to see how this pans out when the FHB grant ends in July but I bet it is extended for another 6 months.
Feb 18th 2009, 4:56 am
#22
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Location: Perth, WA
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Re: News just in - man with vested interest says Perth property market recovering
you can prop up the market for just so long. Sooner or later prices will drop. I wouldnt buy property now if you paid me (say, $21,000). !! 
Once employment drops, people will think less of buying property. Sorry, seen this all before. The fact that people still think that Oz is immune is very scarey !! I spose those buying now have never lived thru a recession. And this will be WAY worse than any previous ones.
I guess they'll learn the hard way.......
Once employment drops, people will think less of buying property. Sorry, seen this all before. The fact that people still think that Oz is immune is very scarey !! I spose those buying now have never lived thru a recession. And this will be WAY worse than any previous ones.
I guess they'll learn the hard way.......
Feb 18th 2009, 5:24 am
#23
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Re: News just in - man with vested interest says Perth property market recovering
Feb 18th 2009, 5:25 am
#24
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Re: News just in - man with vested interest says Perth property market recovering
you can prop up the market for just so long. Sooner or later prices will drop. I wouldnt buy property now if you paid me (say, $21,000). !!
Once employment drops, people will think less of buying property. Sorry, seen this all before. The fact that people still think that Oz is immune is very scarey !! I spose those buying now have never lived thru a recession. And this will be WAY worse than any previous ones.
I guess they'll learn the hard way.......
Once employment drops, people will think less of buying property. Sorry, seen this all before. The fact that people still think that Oz is immune is very scarey !! I spose those buying now have never lived thru a recession. And this will be WAY worse than any previous ones.
I guess they'll learn the hard way.......
Unemployment is the key... The reserve bank has stated that they expect the rescue package to work. Not sure how they can be certain... The banks here are supposedly quite well proteced.
I'm not saying prices wont go down, but even at this stage the situation is still very clouded.
Having said that, I dont think it's a bad idea to wait to get into the housing market at present.... Unless they really do drop the 21,000 dollar first home owners grant.
Still an acute shortage of rentals in Melbourne.
Feb 18th 2009, 5:28 am
#25
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Re: News just in - man with vested interest says Perth property market recovering
I'm getting FHB coming through my display spending upto $500K ...
Perth is massively short of housing, the rental prices are rising again rather than falling ... I maintain it's a good time to buy.
Much of what's said is wet finger in the air stuff.
3
Perth is massively short of housing, the rental prices are rising again rather than falling ... I maintain it's a good time to buy.
Much of what's said is wet finger in the air stuff.
3
Feb 18th 2009, 5:34 am
#26
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Re: News just in - man with vested interest says Perth property market recovering
The Aussie banks have enough liquidity apparently.
Your experiences if you are in FHB display villages is probably vital on this thread 3legs
Feb 18th 2009, 5:38 am
#27
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Joined: Mar 2006
Location: Sunshine Coast
Posts: 136
Re: News just in - man with vested interest says Perth property market recovering
We live on the Sunshine Coast - the most unaffordable real estate market in the world according to a recent survey - and people are starting to struggle.
The Coast is mainly built on Tourism and Construction and both sectors are struggling. I work in the recruitment sector and we are seeing tradies who've not had any work worries for years suddenly see work dry up.
It'll get alot worse before it gets better as projects aren't getting the lending capital to proceed thus the tradies go down hill in this order - concreters, chippies, labourers then finally the finishers, sparkies etc. Takes about 7-10 months for the cycle to work it's way through and we've only just started.
I expect the next 6-9 months to get very messy.
On the laughable local news the other night the headline wa that the local Housing market was being flooded with people selling 'despite the global financial economic crisis'. Followed by the usual REIQ rep saying buy now before you miss out. No it's BECAUSE of the crisis you muppets!!
People will have to downsize because they haven't got any work and it's get worse i'm guessing.
The dreadful local Council we have here that is totally anti business doesn't help either but that's another rant for another day!
The Coast is mainly built on Tourism and Construction and both sectors are struggling. I work in the recruitment sector and we are seeing tradies who've not had any work worries for years suddenly see work dry up.
It'll get alot worse before it gets better as projects aren't getting the lending capital to proceed thus the tradies go down hill in this order - concreters, chippies, labourers then finally the finishers, sparkies etc. Takes about 7-10 months for the cycle to work it's way through and we've only just started.
I expect the next 6-9 months to get very messy.
On the laughable local news the other night the headline wa that the local Housing market was being flooded with people selling 'despite the global financial economic crisis'. Followed by the usual REIQ rep saying buy now before you miss out. No it's BECAUSE of the crisis you muppets!!
People will have to downsize because they haven't got any work and it's get worse i'm guessing.
The dreadful local Council we have here that is totally anti business doesn't help either but that's another rant for another day!
Feb 18th 2009, 5:44 am
#28
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Re: News just in - man with vested interest says Perth property market recovering
I take you have a vested interest in people buying homes.
Feb 18th 2009, 5:48 am
#29
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Joined: Feb 2005
Posts: 15,526
Re: News just in - man with vested interest says Perth property market recovering
We live on the Sunshine Coast - the most unaffordable real estate market in the world according to a recent survey - and people are starting to struggle.
The Coast is mainly built on Tourism and Construction and both sectors are struggling. I work in the recruitment sector and we are seeing tradies who've not had any work worries for years suddenly see work dry up.
It'll get alot worse before it gets better as projects aren't getting the lending capital to proceed thus the tradies go down hill in this order - concreters, chippies, labourers then finally the finishers, sparkies etc. Takes about 7-10 months for the cycle to work it's way through and we've only just started.
I expect the next 6-9 months to get very messy.
On the laughable local news the other night the headline wa that the local Housing market was being flooded with people selling 'despite the global financial economic crisis'. Followed by the usual REIQ rep saying buy now before you miss out. No it's BECAUSE of the crisis you muppets!!
People will have to downsize because they haven't got any work and it's get worse i'm guessing.
The dreadful local Council we have here that is totally anti business doesn't help either but that's another rant for another day!
The Coast is mainly built on Tourism and Construction and both sectors are struggling. I work in the recruitment sector and we are seeing tradies who've not had any work worries for years suddenly see work dry up.
It'll get alot worse before it gets better as projects aren't getting the lending capital to proceed thus the tradies go down hill in this order - concreters, chippies, labourers then finally the finishers, sparkies etc. Takes about 7-10 months for the cycle to work it's way through and we've only just started.
I expect the next 6-9 months to get very messy.
On the laughable local news the other night the headline wa that the local Housing market was being flooded with people selling 'despite the global financial economic crisis'. Followed by the usual REIQ rep saying buy now before you miss out. No it's BECAUSE of the crisis you muppets!!
People will have to downsize because they haven't got any work and it's get worse i'm guessing.
The dreadful local Council we have here that is totally anti business doesn't help either but that's another rant for another day!
Theres going to be a hell of a lot of rebuilding needed down here.
I've been waiting for months for building prices to drop, I'm in the market for two new townhouses on at my current site here in central Melbourne. I'd say in light of recent events, I've got buckleys chance.