29. July 2014 18:43
According to REIW Deputy President Hayden Groves, “As a result of that its dragged the median house price down across the Perth Metropolitan area, mainly because the composition of the market has changed with a lot more lower priced properties selling during this quarter.” This is from REIWA that’s shows Perth’s median price has dropped. The drops driven by an increase in rental properties and low interest rate plays a role in housing market. Vacancy rate has increased because of having more properties. If the rental growth will continue to perform well, it will help the outperforming housing activity in the wider economy.
25. July 2014 18:28
According to operators canvassed for a Sunday Times Real estate marker wrap, “ Buyers and sellers are on wildly different pages as Perth’s property market transitions from “buy” to “steady”.” Many Investors are usually watch the market closely and noticed a massive decline in people at home opens. Will the house prices collapsing or it is a good time to buy? The market is now dominated by “consistency markets” because of the low interest rate and a decline of housing growth. If there will be an increase of interest rate, there will be a possibility to stabilized the market into a busy market.
24. July 2014 18:11
Perth market is being dominated by house and land packages. The metropolitan was not diverse enough to meet the needs of Perth residents. Although, the proportion of renters has been reasonably steady but the most tenants are preferably live in a typical house than units.
According to data from the REIWA, “The median rent in the city dropped by $10 to $450 per week.”
According to REIWA President David Airey blamed an over-supply of rental properties for the soft conditions.
Despite of the downturns, median rent increase. Due to the freed up more properties for rent and this is the reason why Perth’s current vacancy rate is now higher than average. Because of this slow-down in population growth and large numbers of renters taking advantage of very low interest rates. Houses are generally higher with a median $450 per week.
18. July 2014 18:31
According to Recent Research conducted by RP Data, dwelling values climbed 10.1 to over 12 months to July. Furthermore, interest rates continue to hover around record lows and lender competition is running hot.” We all know that residential property market is Australia’s single largest and most valuable asset that driven the economy become competitive to other countries. Because of migrants, investors and home buyers, property market boasts investments and encourage them to invest that proves a lucrative investment. Having stable interest rates push through the investors and homebuyers to pursue home loans that’s makes the market and value growth increase. Even Australia is one of the expensive houses but still many investors were purchasing investment because of those suburbs that worth living for.
“According to Mortgage Choice’s recent First Time Investor Survey, one in three investors is looking to purchase property as a way to “secure their financial future.”
16. July 2014 23:08
According to Reserve Bank of Australia’s Economic Research and Financial Stability Department, “If potential home buyers expected house prices to rise faster than 2.9% (a year) then buying would be more attractive than renting.” House prices would have to rise but house price growth was to be slower, therefore home buyer would be financially better off renting. When the price growth will likely somewhat less in the future, it affects the house prices, interest rate and rent, household is probably better off renting than buying.
“If real house prices grow at their historical pace, then owning a home is about as expensive as renting.”
15. July 2014 19:07
Rental growth has been outperforming in the economy. Perth has the 3rd highest median weekly rent in Australia. But will it be sustainable or likely fell down?
According to REIWA President David Airey, “The Institute’s preliminary analysis for the June quarter showed the median rent down by $10 to $450 per week.”
According to Real Estate institute of Western Australia, “Perth’s median rent has taken a further tumble.”
When the demand was so high in the previous months, investors had built buildings and houses to supply the demand. But due to increase rental stock, rent softens and vacancy rate has risen by 4.2%. Perth experienced also rent increase due to localized demand. Property market is no different and it will be continue to become affordable.
11. July 2014 18:28
National Australia Bank released Residential Survey yesterday, the survey shows that Australia’s housing market sentiment has fallen as expectations for price growth in the coming years slipped. Housing price growth slows and rental pressures continue to weaken, based on the survey. If this data will continue, the market will flatten and fall behind. Despite of the cooling market in all states, Perth and Sydney will continue to lead the market. If the housing affordability will continue and will have secured jobs in all states, homebuyers and investors may come back and invest. These are the factors that buyers considered when they invest the market.
NAB forecasts the average house price growth by 4.6% through the year to June 2015. The sign has cleared that were will have a sustainable market. Nab also revealed a nationwide reduction in residential property index by 17 points.
Residential Property Survey _June 2014_.pdf (136.12 kb)
10. July 2014 18:21
Based on the Real Estate Institute of Western Australia reports released yesterday, “A dip in Perth’s median price of just below 1% for the month of May.” Perth housing sale rebounded last quarter especially the month of June. It shows that sales activity was strong and performed well. The confidence also remains strong.
According to Mr. Airey, “This is a reflection of a range of factors, but most notable are weak interest from investors and much slower activity from first home buyers.” Nonetheless, housing market outlook remains positive. The employment growth and broadening of the non-mining recovery supports the market. Perth rental market was unchanged and rental vacancy rate staying the same.
7. July 2014 18:25
Buyers are seeking areas that is affordable and that area is in Perth. The price growth in Perth is still continuing despite the ups and downs of the housing market. Perth still offers the investment potential to the investors and home buyers. Will it be the reason why Perth has a solid market?
According to Property Analyst RP Data, “Perth’s property market has had a good end-of-financial –year report. It wasn’t the best performer of the capital cities and it wasn’t the worst, but the latest figure from the RP Data Rismark Hedonic Home Value Index shows Perth dwelling values performed solidly in the 2013-14 financial year.”
House value growth dwells values lifted 1.2% and Units continued to raise even the houses swinging. The rental vacancy is still high and housing demands are coming the way that invites investors to build houses. When the demand will continue to rise, many investors invest the market which driven the property market become more solid.
4. July 2014 18:14
Reserve Bank of Australia released a statement last July 01, 2014 by Governor Glenn Stevens, the Board decided to leave the cash rate unchanged at 2.5%. Lots of factors may somewhat affect why RBA leave the cash rate as is. Although, growth in global economy is moderate but the consumer demand is high. Low interest rate had been impact on the economy but we need to evaluate first. People may think and believes the possible interest rate cut on August. If the RBA moves the cut rates, it maintains the growth and the stable currency which help pushes the economy to boost.