Perth property listings - under 9,000

A dramatic jump in the number of properties for sale in Perth could see house prices fall, with the number of listings rising by almost 50 per cent.

There were 13,535 properties listed for sale in the Perth metropolitan area for the week leading up to February 25, compared to 9207 for the same period last year, according to the Real Estate Institute of Western Australia.

REIWA President David Airey said with the long-term equilibrium for the number of listings in Perth at around 12,000, the number of properties up for sale was trending upwards.

"What is unusual is that listings have increased significantly in a short space of time," he said.

"It's a big jump."

A number of factors have been attributed to the 47 per cent rise in listings, including a decline in the population growth rate, downturns in the mining and construction sectors, job losses, low consumer sentiment and the completion of a record level of dwelling constructions.

http://www.watoday.com.au/wa-news/p...ings-jump-by-50-per-cent-20150227-13qph6.html

Time to sell Perth for the cyclical property investor?
 
According to the figures listed here it's gone from 12054 on the 12th of January to 13535 at the beginning of the week.
15000 between Easter and mid year would be a good bet.
 
Lots of different markets in Perth. I'm still attending home opens where you need to park half-way down the street and share viewing each room with other buyers. I'd say prices have stabilised where I'm looking though. Nice, renovated properties selling quickly, less desirable (dated original) homes are being reduced.
 
According to the figures listed here it's gone from 12054 on the 12th of January to 13535 at the beginning of the week.
15000 between Easter and mid year would be a good bet.

Housing listings don't have exponential growth. It's complicated mix of consumer confidence, vacancy rates, interest rates, large developments of land/apartments coming on line etc
 
Housing listings don't have exponential growth. It's complicated mix of consumer confidence, vacancy rates, interest rates, large developments of land/apartments coming on line etc

Consumer Confidence = Down
Vacancy Rates = Up
Interest Rates = Down
Large Developments of land/apartments coming on line = Yes
and the elephant in the room.

Unemployment = Up from 5.3% to 6% with the mercury still rising.

I'll stick to my call and say 15000 before mid year.
 
Consumer Confidence = Down
Vacancy Rates = Up
Interest Rates = Down
Large Developments of land/apartments coming on line = Yes
and the elephant in the room.

Unemployment = Up from 5.3% to 6% with the mercury still rising.

I'll stick to my call and say 15000 before mid year.

It will be an interesting year.

Often when consumer confidence is down, listings go down as people don't put stuff on the market but low interest rates may see more people come in and move the market.
 
Wanted to view this one in Glendalough but it was already under offer.

http://www.realestate.com.au/property-duplex+semi+detached-wa-glendalough-118028451

It went for $485k. The REA said it's a strata, and all land outside is common. He didn't give the size of 24B but said that the overall block is 910 sqm.

What did he mean by that? I wanted to quiz him more but he didn't sound very nice...after he found out I was looking for a prop that he had already sold. Before that, he sounded quite nice. Haha.

Is it good value at $485k?
 
Wanted to view this one in Glendalough but it was already under offer.

http://www.realestate.com.au/property-duplex+semi+detached-wa-glendalough-118028451

It went for $485k. The REA said it's a strata, and all land outside is common. He didn't give the size of 24B but said that the overall block is 910 sqm.

What did he mean by that? I wanted to quiz him more but he didn't sound very nice...after he found out I was looking for a prop that he had already sold. Before that, he sounded quite nice. Haha.

Is it good value at $485k?

Sounds like it's a strata titled property and not a survey strata. Think of it as being like an apartment, the internals will be long to you, the external of the building will belong to the body corporate, as will all the land which will likely be common property with possibly some exclusive use if there are courtyards etc.

Can't comment about value as I don't follow the area.
 
Sounds like it's a strata titled property and not a survey strata. Think of it as being like an apartment, the internals will be long to you, the external of the building will belong to the body corporate, as will all the land which will likely be common property with possibly some exclusive use if there are courtyards etc.

Can't comment about value as I don't follow the area.

Thanks for the explanation, Sanj and Aaron :)
 
But its not an even playing field, some areas/suburbs are doing well while others perhaps going sideways, the stats are just that.

I sold 1 villa in 1 week on the market and fingers crossed will have another under offer at the end of this week. Its looking good at the moment.

MTR:)
 
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