Perth property listings - under 9,000

On Grand Final day?

One was but I've had 5 opens now with zero people through. I did have One email enquiry and inspection and feedback was that it looked like interior was falling apart, will you negotiate less rent. :eek: I don't think it's that bad!
I have reduced by $20/wk already, will have to reduce more. Am noticing agents dropping rents by heaps!
 
Rents have dropped for sure, I had a house rented at $525pw and was struggling to get offers at $475pw now.

Just had tenants give me notice on my unit in Mt lawley, I was getting 410pw for that so see how we go.

Chomp
 
I see Investor Mentor have stopped advertising on Realestate.com for private landlords, do any other companies still do it ?

I use PropertyNow. More expensive than the other one but much more user friendly! -more pic's, update your advert whenever you want.
 
I also think the young are staying at home longer with cheaper rents and everything else looked after for them.

Yup, I'm 24 and sadly know many from my highschool who are still living at home with their parents. We stayed there until 21 and saved up our 20% by not paying rent and both working full time.
 
Now nudging 12,000

Total: 11,935
4 weeks ago:10,355
Same week last year:9,331

Anyone noticing a softening of prices or changes in time on market as the stock levels increase or is this a normal jump for the time of year?
 
I have notice properties in 6107 have been on the market for longer now.
Lots of land for sale and no buyers.
Should put a downward pressure on land prices
 
Total: 11,935
4 weeks ago:10,355
Same week last year:9,331

Anyone noticing a softening of prices or changes in time on market as the stock levels increase or is this a normal jump for the time of year?

Yes! A lot of properties that were on the market in Duncraig a month or so ago are still for sale and a lot have been reduced in price and still not selling. I'd say market has peaked there. Prices were looking quite inflated.
 
http://sqmresearch.com.au/stockonmarketoct2014.pdf

Perth specifically has recorded an 18.9% yearly increase in stock levels ? a capital city which we believe has been experiencing a downturn for some time now. . So at this stage we are not reading much into the results.
However we note the rather large year on year result for Perth and Darwin, which is consistent with our previous warnings that these markets are in a downturn
 
calling a downturn before the market has even reached balance is like saying at 11am on a hot summers day that it will be cooler tonight
 
Despite the rental market is softening and supply is increasing, the property prices aren't going down.
Why is that?

I don't actually think the rental market is softening any more. The reports obviously have some delay, and I think its picked up again slightly on the ground.

Plus supply is still historically low, even if it is increasing.
 
Total: 12,739

4 weeks ago: 11,108

Same week last year: 9,597

Stock levels rising quite quickly now - seems as the market is now turning towards a buyers market.
 
Upward trend in stock levels holding. I notice the rental vacancy rate has held around 4% and has even ticked down a touch this month, although I do wonder how this rate is calculated as a lot of rentals are not listed through REIWA.

Total: 13,014
4 weeks ago: 11,598
Same week last year: 9,814
 
I inspected three townhouses in Rivervale on the weekend. The home opens were deathly quiet. One had one other person, one had no other people and the last one had one other couple. They were all ball park price range too. Very quiet.
 
I instpected three townhouses in Rivervale on the weekend. The home opens were deathly quiet. One had one other person, one had no other people and the last one had one other couple. They were all ball park price range too. Very quiet.

Yup this has been on the cards for a while yet people are continuing to pay stupid prices for sites without realizing how quickly the market cab change. Good luck to them, they're gonna need it.

Having said that even demand for sites is dropping
 
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