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Perth House prices Plunge

Perth House prices Plunge

Old Jan 14th 2009, 6:48 am
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Default Perth House prices Plunge

Where's Rob Druitt when you need him?
http://www.watoday.com.au/wa-news/ho...0114-7gry.html
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Old Jan 14th 2009, 6:49 am
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Default Re: Perth House prices Plunge

Excellent, I hope they keep plunging, I would love a little weekender down south. At this rate I'll be able to afford one within a year or 2. Especially if we get deflation, I'm laughing.
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Old Jan 14th 2009, 7:04 am
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Default Re: Perth House prices Plunge

Interesting that this 11% is nearly as high as the UKs 12% (and Perth's 11% has been before the mining unemployment really bites)
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Old Jan 14th 2009, 9:14 am
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Default Re: Perth House prices Plunge

Perth is way overpriced, who can afford these inflated prices? Certainly not the migrating Poms. An average UK home now costs £199K GBP which gives you roughly $430K AUD, which buys you a less than average home in the Northern Suburbs of Perth.......the most remote City in the world!

Gone are the days where you could swap the two up/two down terrace in the UK for a big ocean view house in Sorrento

THE PERTH HOUSE PLUNGE IS GOING TO GET ALOT WORSE!!
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Old Jan 14th 2009, 9:17 am
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Default Re: Perth House prices Plunge

Wheres a Saf when you need one
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Old Jan 14th 2009, 9:32 am
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Default Re: Perth House prices Plunge

Originally Posted by northernlights View Post
Perth is way overpriced, who can afford these inflated prices? Certainly not the migrating Poms. An average UK home now costs £199K GBP which gives you roughly $430K AUD, which buys you a less than average home in the Northern Suburbs of Perth.......the most remote City in the world!

Gone are the days where you could swap the two up/two down terrace in the UK for a big ocean view house in Sorrento

THE PERTH HOUSE PLUNGE IS GOING TO GET ALOT WORSE!!
I take your point but not a strictly fair comparison though is it? Whats the average house price in the WHOLE of Australia. That would be the comparison with average UK. Average Perth should really be compared to average city in UK - but which one? There are huge differences within the UK.
Where I lived in UK the average house price is probably in excess of 500K GBP so moving to Bunbury (or thereabouts) I was one of the "lucky" one's.
Moving from one the more depressed UK centres to booming Perth will be a big step up - as it would be moving to SE England.
Last figures (Dec) for where I am showed 0.5% growth so holding on ok.
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Old Jan 14th 2009, 9:48 am
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Default Re: Perth House prices Plunge

Originally Posted by northernlights View Post
Perth is way overpriced, who can afford these inflated prices? Certainly not the migrating Poms. An average UK home now costs £199K GBP which gives you roughly $430K AUD, which buys you a less than average home in the Northern Suburbs of Perth.......the most remote City in the world!

Gone are the days where you could swap the two up/two down terrace in the UK for a big ocean view house in Sorrento

THE PERTH HOUSE PLUNGE IS GOING TO GET ALOT WORSE!!
thats if you want to live here

there are houses that are reasonabily priced here in Perth if you want to live elsewher to the northan suburbs

houses up here in the hills are now selling fairly quickly (compared to not at all) some reasonably priced some dearer....depends on where you want to go and what you want to pay
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Old Jan 14th 2009, 10:00 am
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Default Re: Perth House prices Plunge

Originally Posted by Geelong Gent View Post
Wheres a Saf when you need one
Conspicuous by his absence...
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Old Jan 14th 2009, 10:25 am
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Default Re: Perth House prices Plunge

I remember the same thing happening in the UK in about 1991, house prices crashed overnight......it picked up again after a few years
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Old Jan 14th 2009, 10:28 am
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Default Re: Perth House prices Plunge

Well the Geraldton-Greenough bit is spot on. House prices still high here and not budging. Still plenty of house building going on too.

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Old Jan 14th 2009, 10:32 am
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Default Re: Perth House prices Plunge

Originally Posted by sj oldfield View Post
I remember the same thing happening in the UK in about 1991, house prices crashed overnight......it picked up again after a few years
Yes our neighbour sprang back from negative gearing in 2003 only 12 years later
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Old Jan 14th 2009, 11:00 am
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Default Re: Perth House prices Plunge

Originally Posted by northernlights View Post
Perth is way overpriced, who can afford these inflated prices? Certainly not the migrating Poms. An average UK home now costs £199K GBP which gives you roughly $430K AUD, which buys you a less than average home in the Northern Suburbs of Perth.......the most remote City in the world!

Gone are the days where you could swap the two up/two down terrace in the UK for a big ocean view house in Sorrento

THE PERTH HOUSE PLUNGE IS GOING TO GET ALOT WORSE!!
I think you will find the average price of uk housing now is around £160,000
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Old Jan 14th 2009, 11:15 am
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Default Re: Perth House prices Plunge

Originally Posted by northernlights View Post
Perth is way overpriced, who can afford these inflated prices? Certainly not the migrating Poms. An average UK home now costs £199K GBP which gives you roughly $430K AUD, which buys you a less than average home in the Northern Suburbs of Perth.......the most remote City in the world!

Gone are the days where you could swap the two up/two down terrace in the UK for a big ocean view house in Sorrento

THE PERTH HOUSE PLUNGE IS GOING TO GET ALOT WORSE!!
saw some geezer on telly the other day on about "historically housing in AUS was linked to 3.5 times average salary" this seems to have gone out the window a bit.Went a few homes open the other day the agents seem to be singing a different tune than 6 months ago ie "this is only a temporary price drop" it was more. "Make an offer they wont turn you down".
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Old Jan 14th 2009, 11:16 am
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Default Re: Perth House prices Plunge

Originally Posted by Catch View Post
I think you will find the average price of uk housing now is around £160,000
Halifax figures - Dec 2008 159,896 (vs 199,700 peak in Aug 2007)
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Old Jan 14th 2009, 11:23 am
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Default Re: Perth House prices Plunge

Originally Posted by bcworld View Post
Halifax figures - Dec 2008 159,896 (vs 199,700 peak in Aug 2007)
forgot to say they are Halifax figures ,spot on for finding it
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