Hi All, anyone got any views on the Perth market. Cant help but notice that houses are not selling at auctions.
What do you think???[biggrin]High reserves, greedy owners, desperate agents………………..
Thanks Hotrod.[biggrin]
Gotta be more Perthians out there??
Hi Marisa,
The REI seems to think MAy was a little quiet in the FHO neck of the woods – but now the reduced stamp duty has kicked in there is an expectation of a second wind looming. That and the general belief that the economy is chugging along seem to suggest that parts of the market are still going OK.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Well, we sold our PPOR a year ago and purcahsed an new PPOR. We just saw our old PPOR advertised for $85,000 more than what we sold it for and we sold when there was limited houses on the market and it still took 3 months etc. We’ve been cheeky and sent a friend through to see what changes had been made and only the frout curtains were changed and one wall repainted (made a feature wall), so prices have either increased quite significantly over the year or it’s overpriced. We already know we had a terrible agent but don’t think it affected the price by that much.
Will be interesting to see what it actually sells for.
Other than that, I think the market is slower but not stopped.
PK
Traditionally, Perth has not been an “auction” market with most residential sales completed via private treaty.
Therefore, using auction results will not give you a good indication of the market at present.
The feedback I got from 3 agents this week is that the markt is still very active up to $250k with some resistane after $300k.
The resource boom which is driving the local economy is still in full force and this is reflected in consumer sentiment towards spending inclusive of the housing market, especially in the construction of houses.
For example,on a buildng contract I have underway: the concrete pad was laid in Feb, bricks were delivered in May, and brickies turned up last week (July)There is a huge backlog of building contracts to get off the ground such that it will take 12 months to clear even if the builders don’t sign another contract this year.
One prominent builder has close 26 dispaly centres as they have said that they need to clear the backlog of contracts (12 months delay) before they sign any more contracts.
Looks like someone forgot to tell WA that the boom has ended…….
KP
As builders I can assure you the new home market has not slowed. 8 weeks at least to get a brickie that is of course if you can get bricks. Many of the brick range has had production postponed indefinately and brick pavers are a nightmare to obtain. We waited six months for bricks on a recent project and current projects have waiting times of around three months. The established market has slowed but the prices are still too high. One home nearby is currently under offer for the fourth time and is overpriced at least $10,000. Probably why the sales are falling through. We are not buying more yet.
If I knew then what I know now……….you know how it goes
Attended a job a while back for one of the brick companies in Perth..they work 24/7 and cant keep up.
If you walk in off the street for bricks you have ‘no’ chance of getting even a trailer full
REDWING
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