canifixit

[QUOTE=movetoperth]You are looking at extremes here, newer estates do have smaller cottage blocks, usually between 350-450sqm,

Fantastic name, "cottage blocks".
I find that if you go on "Google Earth" and zoom over any of Australias Metro areas you will be able to see the conjested nature of building.
Worth using to get a feel for areas even though it is not up-to-date and a birds eye view.

touchingcloth

...and just when I was looking foward to living off the interest from my savings while renting ......THIS report comes out.

I'm hoping (praying) that as this is up until the end of the June quarter, that the May Interest rate rise hadn't kicked in...and obviously the August hike has yet to.

Any comments?

TC

tucs

Refer to #144 and join the rest by telling me it is a load of rubbish.

Just transfered my money over and i cannot believe the interest i am getting back on it. Rates have just gone up again i believe.

like i said these people have to live somewhere

touchingcloth

Sorry Pal....but that doesn't mean that the estate agent, the report or you are correct.

Even if there were thousand of people arriving every week (which I don't believe)....do you really think they're all loaded enough to push up house prices indefinitly?

I reckon there are more chancers SEEKING their fortune moving to Perth than already affluent people. These 2 recent (and 1 possible future) interest rate hikes will send most running with their tails between their legs.

TC

tucs

Pal??
ok, here is my take. For what i know is very little but i am doing very well thank you.
From where i come from there is a housing shortage and people are buying anything to get on the ladder. Supply and demand.

Believe what you like there are thousands arriving in Perth with money in there pocket and they need a place to live. They probably havn't got a clue what is a "fair" price for a house in Perth but the estate agent is telling them that "this is what they are going for" so they buy it.

As for dropping in value soon. Forget it. Not a hope. The mines are booming, property will keep rising for the next two years & growth for the next 10 years due to the mines opening up in the north of WA, all the raw materials are being exported to china.

So disagree as much as you like. In fact i hope i am wrong.
Be interested in your opinion as to why houses are rising and when you expect them to crash. Pal

touchingcloth

I would comment...but I'd rather put you on my ignore list...Pal

tucs

We can all read reports till they come out of our ears.
We can all quote these reports and pretend to others we know what we are on about.
We can all throw advise around and slag people off for giving their opinion.
It is easy to disagree with someone's point of view.
It is very difficult for some people to give their opinion to others with the fear of being criticised or being proved wrong.

A little knowledge in the wrong hands can be a dangerous thing.

NKSK version 2

Interesting headline article in today's West which says

"There was also growing talk yesterday of a downturn in housing prices with experts warning that established homes were flooding the market and taking longer to sell"

Apparently in June, homes used to take 7 days to sell and 4000 hit the market per week. Now 8000 are hitting the market per week and taking a month to sell. Quite a significant change in 3 months.

I've certainly noticed For Sale signs staying up for a lot longer now.

renth

My pal has lived in City Beach for about 20 years. He's seen a house on that street sell many times over the years for the asking price, or just over. This time it's been on the market for weeks, no one buying.

A house we REALLY like has been on the market for much longer than we would have expected. We put in a low offer which was rejected, We can and will go a bit higher but it's still less than asking price. We'll have to wait for our house sale money to come over before we can make our decisive move. But I can't believe it hasn't been snapped up. It originally went up for auction, loads of people there - no bids, no bids at all.

Houses are still bloody expensive but I'm sure if the seller really needs to sell you could even get away with an asking price or even an under asking price offer!!

That represents a significant "cooling" in my book.

Plus the law of supply and demand - with twice as many houses on the market buyers can afford to be a bit more fussy.

Clippy

Cooling is good, more cooling the better for us!

renth

I think cooling is good for everyone apart from downsizers or people moving out of WA.

Anyway, that article article mentioned earlier is here:

http://www.thewest.com.au/default.as...ContentID=7689

Clippy

Thanks Renth

nightnurse2

I don't think anyone could moan about the market cooling now. Many have made good profits on their homes, in our case, more than we thought in a million years, when we bought last year.
I think the market is cooling, there are properties around our area that have been on the market for weeks and normally they would have an 'under offer' sign on then after the first week or 2 at the most.
Tracey

steve99

So where have you decided to buy in the end Renth?
I never thought id see the day when you'd say you "REALLY" Like somehere

dougggy

: heres hoping that, as our American cousins believe, God is indeed a sevententh century Englishman, but additionally has positive UK house equity and wants to emigrate to Aus in 2007 -