Perth property market?

[paul22]

Anyone here got any opinions on where the perth property market is heading in terms of prices going up/down or just staying the same?

 

[Scotland]

Over what timeframe?

 

[dmc333]

Given the head of the REIWA was pleading with vendors to take their properties off the market late last year because of the oversupply - it sounds like it's not going up any time soon.

 

[Lyyynnnchy]

Flat or trending down a little for the next 12-24 months IMO. New buildings could trend up a little if they up the grant for new builds again

 

[bunsen burner]

flat or trending up for next 24-36 months for me.

 

[paul22]

sorry meant over the next 1-2 yrs i guess, sounds like there is a buyer confidence problem if there is still a major over-supply of listings??

 

[Scotland]

http://www.perthnow.com.au/business...-rebound-in-2011/story-e6frg2ru-1225972819230

With numerous mining projects already set to commence in 2011, high demand for labour and increasing wages and salaries, together with burgeoning company profits will create a strong wave of commercial and business prosperity throughout the State and particularly in Perth.

“As a consequence it is likely Perth will experience the highest growth in median house prices of all Australian capitals in 2011.”

APM senior economist Andrew Wilson said the group is forecasting growth of 7 per cent in Perth for 2011.

Up 11% in 2011 alone. Apparently.

 

[soho]

there is no greater bull than a property analyst...

if the market is flat and you own property, your losing money...

perth is over for the short term... grow your money in stocks, reassess buying into perth property in 2 years time...

 

[bunsen burner]

there is no greater bull than a property analyst...

He's just one of many. Many don't share his views. Financial advisors on the other hand.....

All through the bust they were still talking the market up. It was almost criminal.

if the market is flat and you own property, your losing money...

You know it's a different asset class than stocks right? You know property isn't liquid and if you're a property investor your strategy is usually buy and hold, right?

Unless you're a developer or trader or doing high end strategies with property, you go into it knowing that it's an illiquid asset and the trade off for not having liquidity is having higher LVRs. The property investors who sell when the market is flat or going backwards are the ones who don't make and money.

If I had a dollar for every stock guy who thinks stock strategies and rules of thumb applies to property and then tries to tell everyone about it as if they were an expert then i'd invest those millions in........property

perth is over for the short term... grow your money in stocks, reassess buying into perth property in 2 years time...

This is the only thing you have said that makes sense although I'm not totally convinced a better return can be had in stocks during that time (unless you are an experienced trader of course).