I wonder how long it will be until rents rise? Hoping the vacancy rate will drop soon.
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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.
I wonder how long it will be until rents rise? Hoping the vacancy rate will drop soon.
I suspect those figures will go up not long after the kids go back to school and will likely crack the 14,000 figure in quick time.
More than 1000 listings added now in double quick time now, that 14,000 figure will be cracked within a fortnight and the 15000 is sure to follow.
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
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.
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.
I wonder how long it will be until rents rise? Hoping the vacancy rate will drop soon.
I have a friend looking around will willeton, properties apparently being sold above market price ?
Total: 14,279
4 weeks ago: 13,535
Same week last year: 10,051