Warnings of financial 'catastrophe'

@JL1 I think mixed bag for Perth in 2017. I am not tipping a positive year until 2018. The recovery will be slow.

 

Very slow. I think the bottom will be in May this year and just hold out, go nowhere, until October at the earliest.

 

Was out and about in Sydney...very interesting things happening the stock levels are low and people are paying crazy prices...last time I saw this was 2003 when the market came!

Will be interesting...some buyers are walking away from OTP apartments..not a question of if Sydney will come off but when........

 

If we ignore the Perth suburbs that had a mini-boom in 2013/14, then Perth has gone sideways in the last 10 years, so it may be inevitable and coming at your fast? not sure...

Don't forget Shadow predict that Perth house median will hit $1m by 2020, which is 3 years away.

 

Median house price 2007 to 2017 increased by 11%. That is fall in prices in real terms. I am not sure about a boom sooner. For Perth to boom I really think that Sydney and Melbourne need to at least stall. Sydney may be running out of steam but it looks like Melbourne will steam ahead in 2017. Maybe 2018 will be the year for Perth. Of course we keep our eye on the market in the meantime

Perth 2007 to 2017, $470,000 to $520,000. 11% increase (2)(3)

(2) Perth median house price slides as listings soar

(3) WA real estate market - Perth property & house prices - reiwa.com

 

fingers crossed

 

Interesting article from the courier mail

Mum and dad investors lose hundreds of thousands of dollars as mining downturn continues to bite - realestate.com.au

 

It's what happened in between 2007-2017 that also matters especially if you are holding stock.
median house price at one point close to peak in Perth hit over 700k, imagine those buying close to peak 2006-7, many markets have yet to recover from crash in 2007, stats will never give you the full picture.

 

I agree. 2007 to 2017 some house prices have not recovered. Yet we know in other areas there was a boom and bust during that time with a peak around December 2015. 2 very different stories in the same city, same time frame. Incidentally, I originally posted that stat in response to the old "property doubles every 20 years". So, Perth 2007 to 2017, prices doubled? Yes? No? I say no!