perth housing..
May 27th 2007 | 1:12 pm
#16
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Joined: Mar 2007
Posts: 141
Re: perth housing..
hi there,
mine is on the market in ocean reef at the mo we are having lots of interest we had another 9 couples through this weekend and one who is considering an offer, i am surprised at the market i thought it was quiet but i think things a warming up again... www.steveharber.com.au 5 empress court
mine is on the market in ocean reef at the mo we are having lots of interest we had another 9 couples through this weekend and one who is considering an offer, i am surprised at the market i thought it was quiet but i think things a warming up again... www.steveharber.com.au 5 empress court
May 27th 2007 | 4:59 pm
#17
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Joined: Oct 2005
Posts: 3,453
From: Perth
Re: perth housing..
Just the house Market fella, people have finaly started getting smart.
Our next door neighbour is the owner of a real estate agency and they can't shift anything at the moment.
Had lunch with the owner of Ray White last week and he said the stamp duty relief hasn't 'encouraged' the market, due to it only being for first time buyers. As the average wage in Perth is between $60-$80k then $500k+ is way out of their price range. Somethings gotta give soon. Do you remember when it happened in the U.K,
Ivan
Our next door neighbour is the owner of a real estate agency and they can't shift anything at the moment.
Had lunch with the owner of Ray White last week and he said the stamp duty relief hasn't 'encouraged' the market, due to it only being for first time buyers. As the average wage in Perth is between $60-$80k then $500k+ is way out of their price range. Somethings gotta give soon. Do you remember when it happened in the U.K,
Ivan
May 27th 2007 | 5:37 pm
#19
Banned
Joined: Sep 2006
Posts: 537
From: Perth, Northern Suburbs (Little Britain)
Re: perth housing..
Not rocket science mate, the market has just slowed in relation to the 30/40/50% increase (depending on the suburb) that was seen between 2005 and 2007.
If you look at the figures, it's still ticking away nicely.
Either the house you're looking at is over priced or there is a mitigating circumstance which the web advert isn't telling you.
If you look at the figures, it's still ticking away nicely.
Either the house you're looking at is over priced or there is a mitigating circumstance which the web advert isn't telling you.
May 27th 2007 | 6:19 pm
#20
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Joined: Mar 2007
Posts: 141
Re: perth housing..
[QUOTE=NKSK version 2;4839985]And yet Bob Bluit from REIWA will be in the papers this week telling us all to get in quick because the maket is on the rise again!
i was told by two real estate agents to hang on and not sell yet.... they said the market is on the up and prices will raise again here... but we cant wait because hubby is relocating with his job. so i agree and think the people in rented accomm should get on the property ladder asap and make some money...... buy mine please !!!
May 27th 2007 | 11:49 pm
#21
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Joined: Feb 2006
Posts: 484
Re: perth housing..
Consider this, average wage $70k inc super ( I'm being generous there too ) x2 = $124k - no loan or debt, mortgage x4 = $496k - minus fees + settlement.
Also consider that the repo rate has gone through the roof.
People can price their property at whatever level they want doesn't mean that people can afford it though.
Even us, with a good exchange rate, don't want to be saddled with a s big of a mortgage or bigger than we had in the UK, whilst paying more tax.
May 28th 2007 | 12:29 am
#22
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Joined: Oct 2005
Posts: 3,453
From: Perth
Re: perth housing..
Yet you turn the page in the West and another so called expert says the boom is over, for a while at least.
Consider this, average wage $70k inc super ( I'm being generous there too ) x2 = $124k - no loan or debt, mortgage x4 = $496k - minus fees + settlement.
Also consider that the repo rate has gone through the roof.
People can price their property at whatever level they want doesn't mean that people can afford it though.
Even us, with a good exchange rate, don't want to be saddled with a s big of a mortgage or bigger than we had in the UK, whilst paying more tax.
Consider this, average wage $70k inc super ( I'm being generous there too ) x2 = $124k - no loan or debt, mortgage x4 = $496k - minus fees + settlement.
Also consider that the repo rate has gone through the roof.
People can price their property at whatever level they want doesn't mean that people can afford it though.
Even us, with a good exchange rate, don't want to be saddled with a s big of a mortgage or bigger than we had in the UK, whilst paying more tax.
A chap at work has a joint income of about $90K. Their house purchase was $490K Guess what their mortgage is for? $490K!! Yep - 100% and over 5x their joint income!!
May 28th 2007 | 12:38 am
#23
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Joined: Feb 2006
Posts: 484
Re: perth housing..
There was an interesting article the other week in the Australian stating that banks are not disclosing when house sales are repossessions for fear of instilling panic in the market. Apparently there are many more than we get to know about due to loan defaults on low doc loans.
A chap at work has a joint income of about $90K. Their house purchase was $490K Guess what their mortgage is for? $490K!! Yep - 100% and over 5x their joint income!!
A chap at work has a joint income of about $90K. Their house purchase was $490K Guess what their mortgage is for? $490K!! Yep - 100% and over 5x their joint income!!
May 28th 2007 | 12:44 am
#24
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Joined: Oct 2005
Posts: 3,453
From: Perth
Re: perth housing..
I suspect there are many others like him.
Last edited by NKSK version 2; May 28th 2007 at 12:57 am.
May 28th 2007 | 12:56 am
#25
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Posts: 7,444
From: here there,fluck knows where?
Re: perth housing..
where would you get your a hand on reposession..?auction...?
May 28th 2007 | 12:59 am
#28
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Joined: Jul 2006
Posts: 7,444
From: here there,fluck knows where?
Re: perth housing..
what do you mean?you dont want brummies over there?
May 28th 2007 | 1:00 am
#29
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Joined: Oct 2005
Posts: 3,453
From: Perth
Re: perth housing..
Well that's just it - according to the article the banks pressure owners to sell before they repossess. So basically, if they can't meet the mortgage payments, the bank says we will repossess your house in 3 months if you don't sell it.
So they sell it, move down market or into rental and the repossession never becomes a repossession but technically the sale is due to a mortgage default.
So they sell it, move down market or into rental and the repossession never becomes a repossession but technically the sale is due to a mortgage default.
May 28th 2007 | 1:02 am
#30
Thread Starter
Banned
Joined: Jul 2006
Posts: 7,444
From: here there,fluck knows where?
Re: perth housing..
Well that's just it - according to the article the banks pressure owners to sell before they repossess. So basically, if they can't meet the mortgage payments, the bank says we will repossess your house in 3 months if you don't sell it.
So they sell it, move down market or into rental and the repossession never becomes a repossession but technically the sale is due to a mortgage default.
So they sell it, move down market or into rental and the repossession never becomes a repossession but technically the sale is due to a mortgage default.
