Perth’s property prices continue to slump

Its not looking real good in Perth atm

I have never been a fan of the Motley Fools so is anyone seeing something different on the ground down there?

 

I agree with the above. Activity up - still lots of stock (compared to a long run average).

 

I can't speak for the whole Perth market but the areas I track still appear to be falling although prices may be stabilising. It's too early to tell if the markets I track have bottomed out. There is plenty of discounting going on.

Do a search on "Perth - Greater Region" with a keyword "reduced"

Showing 1 - 20 of 888 total results

Do a search on "Perth - Greater Region" with a keyword "reduction"

Showing 1 - 20 of 286 total results

Sure, there will be some false positives but that is a lot of property being reduced to get a sale.

Prices are down.

 

Has the number of listings dropped or risen?

 

Considering he also states:

Its not looking good then.

 

One word.......price sensitive, get this wrong and they wont sell its that simple, buyers have choice

No clear indication that Perth market has turned a corner yet

 

Increased slightly from the same week last year.

Properties Listed for Sale

Total:15,015
4 weeks ago:14,148
Same week last year:15,770

Perth Median House Prices, Sales Volume and Rental Market Data - REIWA

There is an urban myth that 12,000 in Perth represents a balanced market.

If you have a look at the graph on that page you can see prices have been steadily falling since Dec 2104. There is actually no sign that prices are levelling out yet.

 

With rates rising it may push that corner further away than it already is.

 

If market was strong I would be developing property in Perth, sadly nothing is stacking up

Interest rate rises wont help

As for those looking for bargains, good luck, I am sitting and waiting for clear indications that we are in recovery mode.

First sign of this is when we will see volume come down

 

I believe balanced market is around 12,000?
In 2013/14 it hit around 7000.....boom

 

HTW has Perth reaching bottom ....for quite some time now...Are we there yet ?

But seriously what are the options for recently cashed up buyers from Sydney now ? Perth, Darwin or Brisbane...For some reason Geelong is not on list...

 

Hey Skilled interested to know what the time component is between intervals. Say from peak of market to bottom of market.

 

Perth rental market starting to recover
28 November 2017

Perth’s rental market appears to be recovering, with new reiwa.com data revealing improvements in leasing activity and listing levels during the September quarter.

REIWA President Hayden Groves said leasing activity increased 4.7 per cent over the quarter, while listings for rent declined 9.5 per cent.

“The Perth rental market has improved over the last year. Where we were previously experiencing low leasing levels and high listings, that trend has now reversed. Properties for rent are declining and leasing activity is strong,” Mr Groves said.

reiwa.com data shows leasing activity increased in all five sub-regions over the quarter.

“The North-West sub-region was the stand-out, with activity up 9.8 per cent, followed by the North East sub-region with a 4.4 per cent increase. At a suburb level, Hillarys, Ridgewood, Attadale and Bibra Lake were the biggest improvers,” Mr Groves said.

Perth rent prices
Perth’s overall median rent price remained at $350 per week in the September quarter.

“After a sustained period of declining rent prices, it’s encouraging to see Perth’s median rent remain stable over the last two quarters,” Mr Groves said.

“With three key indicators of Perth’s rental market improving or stabilising, landlords and property investors can be confident the market has turned a corner. We expect these positive trends will continue as demand for rentals exceeds the number of properties available for lease.”

 

No Idea mate...but have heard property experts can pick bottoms better than noses...wanted to see who would call Perth's bottom and how ?....

Edit: Bottoms = Property bottoms

 

Sit on your hands and wait and watch

Darwin still a basket case

Brisbane too early, watch volume fall then jump in?

Geelong its already moved? How long does it have? Whats the Sweet spot

Tassie appears to be a rising market, however investors seem to be reluctant to jump into this market. Not one of the majors and possibly due to size of economy/pop

What about Canberra?

Get your leads from PC but dont rely solely on this
Phone lots of agents on the ground to work out what is selling/product and to gage the market

 

This^^ .....Not many are willing to say...

 

Perth property sales over the last eleven or so months, I wouldn't say there's a turnaround quite yet.

 

Number of properties listed with REIWA over the same period

 

Yeah nah, not many who know what they're talking about would agree with that report

 

Sorry but if you're relying on broad stats often 3 months after the fact to be the determining sign it if the market has improved or not you'll always be the investor a year late to the party either way, who missed out the massive bargains and short term gains from buying during this transition period and similarly misses out on selling during the good times by waiting until the reports confirm theyre over