23. April 2013 17:28
We all know that house price and rent is increasing due to the market demand. Some of the states are competing but Perth leads the market although Perth is one of the expensive costs of living. But considering all the factors, Perth is the boost and competitive state to other countries.
According to the rental Report from Australia Property Monitors, “Perth and Darwin have both recorded 22% growth in median house rents in the past 12 months.” Population growth is the driving force in Perth market and it shows high level of demand from renters and buyers. Population growth in Perth leads the market becoming very competitive and house and rent have risen.
31. August 2012 19:58
According to Real Estate Institute of Western Australia (REIWA), “The number of properties on the market in Western Australia has fallen over the June quarter, with could put price pressure on property.” I think buyers are more confident and prices are stable because sales numbers have increased. But despite of increase of sales, sold properties are not being replaced with new listings or new buildings that dwells price increased. Home builders are going to invest for their new home or building to supply the demands on the industry.
30. July 2012 18:02
Analysts predict that Perth housing market will continue to up this year and house prices will continue to rise this year. A median house price of Perth is very competitive with median price of $536,000.
According to Andrew Wilson from Australian Property Monitors, “There are signs the market is recovering and greater buyer confidence is also set to increase in momentum.” Increased confidence is one of so many factors to encourage more investors into market. Consumer confidence is growing and become more active in property sector.
20. March 2012 17:48
According to RESIDEX, Perth is exhibiting an increase in sales activity, but only at 15% of the sales activity occurring in Sydney and Brisbane. The housing market remained in neutral in February, with Perth the standout market.” Perth house prices appreciated by February and Melbourne house prices have depreciated and the weakest performing capital. Please refer the data below for the February Houses result of RESIDEX:
Median Price Change Over Feb.
- Sydney $657,000 +1.35%
- Melbourne $ 558,500 -1.02%
- Perth $ 468,500 +2.32%
- Brisbane $ 422,500 -1.12%
- Adelaide $ 387,500 -1.22%
According to CEO John Edwards, “does not share this gloomy outlook, predicting that housing market is about three plus months away from any Australia-wide pick-up.” Australians are surely likely to pay the debt rather than to borrow funds for home purchasing. Australia’s major banks have been forced to pass RBA to increase mortgage rates because last January, new home sales drop 7.3% in capital city.
31. January 2012 19:27
According to APM Senior Economist Andrew Wilson, “Increasing competition for properties particularly from home buyers unable or unwilling to enter the property market has resulted in rising rental prices over the December quarter for both house and units.’ Home prices and poor affordability helped lift rent this quarter for first time to rise hope to improve the real estate market this year. According to Fairfax-owned Australian Property Monitors, median rent for houses increased by 1.1% while rents for apartments and units increased 1.4%. I think this year 2012 will continue to remain soft because of the home buying activity. Home buyers continue to penetrate the real estate market that makes the house price and rents increase. An economist believes that housing market will rebound on lower rates and increasing sale.
27. January 2012 19:12
We all know that Interest Rate had cut twice at the end of 2011, to be exact, during Melbourne’s Cup was the first rate cut with a 4.25%. After a year of high and up performance, Australian house price rose for the first 11 months. Interest Rate is the most Australian’s sensitive sector and some analysts expect to see house prices rising again this year 2012.
According to Rismark Director Christopher Joye, “For Australian’s capital city and regional markets, this was the single best monthly result since December 2010, and augurs well for housing activity during the first quarter of 2012, which we project will rebound solidly.” After the two consecutive Interest rate cuts that we had, it encouraged more buyers to return into the market and expect house price continue. Some Economists are forecasting that there will be another interest cut this early February and this coming rate cut will really help the market and encourage first home buyers to enter the market and there will possibility that house price will increase.