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House prices continue to fall
Perth house prices recorded the biggest decrease amongst state capitals for June, continuing the long-term slump, according to CoreLogic  data released on the same day the state government's Keystart stimulus began.
According to the latest data revealed today, the median house price in Perth fell by 0.7 per cent to around $440,000 for June, with only Darwin and Canberra recording bigger decreases in the country.
Apart from Darwin, Perth has also experienced the largest fall for the quarter ending June, with median house prices contracting by 2.1 per cent over the past three months.
For the year to date, median house prices in the Western Australian capital have decreased by 9.1 per cent.
26 April 2019 Tim Neary
The Australian property market has been consistently disrupted by false and misleading predictions, which, coupled with a widespread tightening of credit policy, has created the real issue impacting our industry, according to C21 chairman Charles Tarbey.
Mr Tarbey said that timid lenders and false prophets are more of a market impediment than the looming election or Bill Shorten’s folded-arm stance on negative gearing.
“A fallout from the banking royal commission saw banks apply stricter lending requirements that made it difficult for consumers to obtain finance, particularly for investors,” he said.
“Whilst I have the greatest of respect for our banks, their actions mean that equity is no longer king.”
He added that the criteria for consumers to obtain a loan approval has become very stringent.
“This is causing most of today’s problem...
Perth Market Snapshot for the week ending 24 March
25 March 2019
Sales activity decreased 12 per cent in Perth this week, with REIWA members reporting 505 transactions.
This decrease can be attributed to a 15 per cent fall in house sales, a four per cent rise in unit sales, and a 14 per cent fall in vacant land sales over the week.
Perth’s top selling suburbs this week were Scarborough, Dianella, Duncraig and Thornlie.
Listings for sale
There were 17,251 properties for sale in Perth at the end of this week, which is one per cent more than last week.
A closer look at listing stock levels shows house and unit listings both increased by one per cent while vacant land listings decreased by one per cent.
‘Irresponsible’ property reports blasted, investors cautioned
by Sasha Karen | February 27, 2019 |
The head of a real estate network has claimed investors should not be listening to “irresponsible” media reports about the property market; instead, they should be doing their own research.
Barry Plant, director of Plant Barry Group, said if people listened to some of the mainstream reporting around the current market softening, they would be forgiven for thinking that they were heading for Armageddon.
“Headlines such as ‘Property market falls off a cliff’ are just irresponsible. Yes, if you do read the whole article there may be some...
The three legged wealth or money toad also known as Chan Chu is one of the most powerful and popular Feng Shui symbols to enhance your wealth luck.
How to choose the correct one?
When you are choosing a three legged toad, It has to be the three-legged (some shops sell toad or frog with 4 legs) and also choose the one that has a coin in its mouth.
Where do I place the three legged frog to maximize the effect?
Year of the Pig 2019: a Year of Fortune and Good Luck!
The Pig occupies the last (12th) position in the Chinese Zodiac. You are a “Pig Chinese Zodiac native” if you are born in one of these years: 1935, 1947, 1959, 1971, 1983, 1995, 2007, 2019 .
According to the Chinese astrology , 2019 is a great year to make money, and a good year to invest! 2019 is going to be full of joy, a year of friendship and love for all the zodiac signs; an auspicious year because the Pig attracts success in all the spheres of life.
A Sneak Peek Of What Year 2019 Will Be Like For You
Dwelling values shrunk by 4.8 per cent in 2018 when compared to the previous calendar year, marking the weakest housing market conditions since the global financial crisis, according to Core Logic.
The December quarter saw the largest quarterly decline of 2.3 per cent since the same corresponding period in 2008, with Sydney the weakest performing city (-3.9 per cent) and Hobart the strongest performing city (+2.0 per cent) in the last quarter.
The property data and analytics company said the “accelerated” “downturn” was driven primarily by consistently larger quarter-on-quarter declines in Sydney and Melbourne, but also sluggish conditions in other capital cities and most regional areas.
Core Logic head of research Tim Lawless said: “Although Australia’s two largest cities are the primary drivers for the weaker national reading, most regions around the country have reacted to tighter credit conditions by recording weaker...
Following the results of the Adelaide Bank/REIA Housing Affordability Report, the Real Estate Institute of Western Australia’s president Damian Collins said Western Australia was found to be the most affordable state, with the only exceptions being the two territories (the Northern Territory and the ACT).
“While it appears we’ve reached the bottom of the market and improvements are expected in 2019, buyers and tenants remain the beneficiary of the current market, enjoying improved affordability, record low interest rates and a good supply of housing stock to choose from,” Mr Collins said.
The proportion of income to meet loan repayments in Western Australia saw a decrease of 1.2 per cent over the quarter with the average loan size shrinking by 4.6 per cent to $339,943.
In comparison, the prop...
Strong rental market to lead the way in Perth next year, says industry body
The Real Estate Institute of Western Australia (REIWA) is confident the Perth rental market will lead the housing market next year, but warns any changes to negative gearing has the potential to impact buyers.
The industry body predicts stability for the property market in 2019, with notable improvements expected for the rental market.
REIWA President Damian Collins says market conditions throughout 2018 have been fairly subdued, with the most significant improvements occurring in the rental sector.
“We’ve seen weekly sales in Perth hover at around 500 per week throughout the year, while listings for sale were largely unchanged from 2017 levels, fluctuating between 13,000 and 16,000. Listings should continue to trend at current levels throughout 2019.
“While we expect sales activity in 2019 to largely reflect what we’ve seen ...
Perth Market Snapshot for the week ending 11 November
12 November 2018
Sales activity decreased eight per cent in Perth this week, with REIWA members reporting 491 transactions.
This decrease can be attributed to house and unit sales falling by 10 per cent and 18 per cent respectively. However, there was a 37 per cent increase in vacant land sales over the week.
Listings for sale
There were 15,409 properties for sale in Perth at the end of this week, which is three per cent more than last week.
A closer look at listing stock levels shows house listings increased by three per cent, listings for units increased by four per cent and listings for vacant land increased by one per cent.
This week's total ...
THE worst is over for the Perth property market according to local experts.
From established homes to new builds, apartments and rentals, they shared their predictions for 2018, with one saying this year was shaping up to be one of the most positive in recent times.