WA Perth housing and unit prices slump

How do you figure that?

 

@mrdobalina:
Need add this: IMO.

 

If this is your hypothesis, then its going get brutal before it gets better.

Vale is forecasted to increase iron ore production significantly until 2018. China is providing Vale with $5b credit line and is taking an equity stake in their massive tankers.

 

imo he's gonna struggle to sell that front house, and there are quite a few of the vacant rear blocks as he's not building on it.

 

A question to Perth investors. Where and how can I obtain information on housing trust (government housing) homes in a suburb?

 

I like the front house. I think it would sell well if it was priced right in this market.

 

Absolutely, not touching a thing at this point in time.
I wont start any developments in Perth till I feel comfortable, not feeling the love at the moment.
Syd has peaked, agents now dropping prices.
Melb still hot, but it wont be too far off.

When property goes on the nose, do nothing, far too much risk at the moment.

 

you're not the first to notice it - but i think you might be the first to map it all up....

 

Perth unemployment has increased again.
http://www.abs.gov.au/ausstats/[email protected]/Latestproducts/6202.0Main Features2Jul 2015?opendocument&tabname=Summary&prodno=6202.0&issue=Jul 2015&num=&view=

Looks like Perth is going through a downturn.

 

Sydney crashed around 2004 and then it started to rise in late 2012, in fact Perth and Sydney started rising similar time, I know cos I was playing in both markets.

The difference is that Sydney continued to rise, where as Perth peaked early 2014.

The Perth boom prior to this, the BIG MOTHER was from 2001-late 2006. Mining boom drove this market.

Sydney is a different beast and what is driving this market is FHB, 40% investors, foreign investors etc.

Perth in part is suffering due to mining boom long gone, population down, unemployment up, we don't have the numbers in terms of foreign investors. Market confidence is down.

MTR

 

The BIG MOTHER 2001- late 2016? You sure about that?

 

considering the accepted "end of boom" is 2006/2007 - you may want to reconsider your hyper reactive stance and entertain a typo.

 

Thanks for this. I have never followed the Sydney market, so I did not know this. I follow Perth and also Melbourne to a lesser extent. I was hoping the data would show a clear distinction between Perth and Sydney markets. I haven't really seen very good data, but from what I have found, it is not really that clear. In any case, as @Aaron Sice pointed out, a city wide median is a lousy way to judge the health of a market. I don't think there is any subsitite for following a market. My plan at this point is to review in a few years and see what is happening. Anway, I did well out of the last Perth mini-boom and might try my luck in Sydney next time round.

 

Considering your sensitivity to personally unsuitable data, you may want to consider your own obtuse response.
My post at least has a semblance of accuracy.

Further to that, No there will be no typo as it isn't applicable here.

 

2001

thanx Aaron of course a typo, should read 2006, obviously not 2016 (have amended)

 

You did well, it's hard to jump into every market, as long as you get one you are bound to make money

 

wha....? i used to enjoy keyboard warrior trolls, now i just ignore them.

MTRs post was clearly a typo. Learn to understand some context, please....save us all the headache.

/ignore

 

I never bother with charts, rubbery at best, similar to your thoughts.

It's very weird I actually remember when the market crashed in Perth December 2006 spilling into early 2007, because it was a blood Bath, it practically happened overnight, I know a few investors that went bankrupt, in particular Mandurah market


MTR