Buying versus Renting a House

by joy.manginsay 6. November 2012 18:22

The RP Data Buy versus Rent report analyses the different between monthly mortgage payments and monthly rental payments based on the median value of houses and units.  It is better to buy because you have an investment and you have your own house compared in renting a house. Property prices sank, tight rental market and reasonable mortgage rate are the evidence to buy a house than to rent.

http://www.perthnow.com.au/business/cheaper-to-buy-than-rent-in-more-suburbs/story-e6frg2qc-1226510420832

Worth Watching in Perth: Property Market

by joy.manginsay 16. July 2012 18:39

According to one of the industry’s most prominent National analysts, “Perth’s awakening property market will make it the city to watch in Australia this year.”

Research Director at RP Data, Tim Lawless said, “Perth is going to be the market to watch this year and all the indicators are looking positive.  We’re actually seeing some evidence that the market is turning around.

These two statements mentioned-above are some of the indicators that prove that Perth Property Market will heading up. Perth was the only city that properties were selling faster and transaction volumes were rising. Retail buyers and investors were returning to the Perth market and boosting number of property sales really helps Perth Property Market. Rental growth in Perth is quite strong and I think there were improvements in all indicators evidence that Perth Property Market is performing well.

 

Is there an increase in Perth House Price?

by joy.manginsay 29. June 2012 17:44

According to Real Estate Institute of WA President Alan Bourke, The 19% prediction was ‘way too high.” WA property experts forecasted that Perth house price will increase 19% over 3 years. Despite recent declines, I think having strong income growth due to mining boom and high population growth influenced in improving housing affordability.

RP Data Research Director Tim Lawless said, “He did not expect any growth over the next six months, from next year the timing would be right for price increases of up to 9% per year.” Perth is showing recovery because of high migration demand and would help to drive up prices. Homebuyers are returning on the market, consumer’s confidence coming back and economic stabilization are some of the factors showing Perth’s improvements.

House Prices in February Increased

by joy.manginsay 29. March 2012 18:07

According to RP Data-Rismark Daily Home Value Index, “Melbourne led a rebound in capital dwellings prices in February, with the Victorian capital recording 1.8% growth for the month. Based on the report Melbourne house prices received a boost on the last day of February rising 0.67%, but overall capital city dwelling values increased 0.8% in February 2012. Sydney increase with dwelling prices rising 0.8%m while Brisbane values were flat 0.1%. Perth dwelling prices continued to fall by 1.8%. The most impressive with dwelling prices up to 5% during February was Darwin and was the strongest-performing capital city market for the part-month to February. Despite of the weak monthly result last February, Perth dwelling values were up 0.8% over the last 3 months. Perth housing demand being driven by strong population growth corroborated because of so many resources investment.

 

House Prices in Australia: RP Data

by joy.manginsay 7. March 2012 18:18

According to RP-Data Rismark, “After a fall of -1.0% in January but remains down last year, National Residential Prices were up to 0.8% in February. The new five cities who are really increased are Sydney, Melbourne, Brisbane, Adelaide and Perth. These five cities had changes in median price last February over January:

                                Sydney                -              $472,750

                                Melbourne           -              $465,000

                                Brisbane              -              $410,000

                                Adelaide              -              $375,000

                                Perth                   -              $446,000

Sydney and Melbourne are edging upwards but Brisbane and Adelaide are subject to fluctuations in prices, among five cities, Perth is showing some price reductions after a strong recovery in price in January 2012. Sydney prices may reduce in coming months. I think the general outlook shows stability of prices in 2012 because housing finance is up and homebuyers and trade-buyers are return in the market.

 

Property Marked Ended 2011 Positive

by joy.manginsay 9. February 2012 00:55

At the end of 2011, Perth house prices jumped by 0.5% in the month of November leading the first seasonally adjusted increase in capital city house prices since December 2010. Modest median price increase around 0.5% and the slightly movement represents the first lift median price since March 2010.

According to RP-Data article released last December, Perth Residential property Market ended with positive outlook. Perth’s house price increased by 0.5% and home values rising by 0.1%.The two Reserve Bank’s two Interest Rate Cuts appeared to be having a positive effect in Property Market and its will drive into more demand in homes and property prices increased. Because of this report, CommSec expects Australian Property prices to grow around 5% in 2012. RP Data also observed about the rental markets continued to strengthen this coming month.

Perth Property Market lifted 0.5% last Month

by joy.manginsay 28. January 2012 18:34

According to the RP-Data Rismark home Value Index, "Index city home values across the country lifted 0.1% in November-the first increase since December 2010." One of the capital city home values which lifted slightly is Perth. Perth property prices lifted 0.5% last month and Perth outperformed the rest of the country. Sydney and Canberra have fallen 0.5% and 1.6% respectively. We have very optimistic reflection based on the RP-Data figures and indicates that housing activity performs better and will rebound solidly this year. Perth is not the only city that performs better nowadays, most of the capital cities are slightly increasing on the home values because of the homebuyers enter the market and experts predicts this year will be the year to cope up all the negative experienced last year.

Australia's housing market will Progress

by joy.manginsay 25. January 2012 19:23

Based on the RD Data-Rismark’s latest information, the median price last November 2011 returned to growth and will continue to grow these coming months. The capital city house values were up by 5.75 and the units by 6.8%. Some important point  that we should bear in our mind when considering the softening in prices these coming months;  increasing cautious consumers in the environment and the instability of Federal government. These are some of the points that were opposing in crashing the market.

According to HIA Andrew Harvey, “Rental yields continue to grow and with interest rates on the way down this means that the attractiveness of a purchasing a property, either to get best of the rental market or as an investment, is on the rise.” The back to back interest rate last November really helped everyone to see a chance nowadays that there will be having a growth in 2012. Lack of rental properties are tightening now and make the rent raised and having healthy employment levels are indication in which housing demand will boost in the market.


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