RP data figures released first week of this month shows that Perth was the only state capital to avoid negative territory-by recording a slim, 0.4% rise in home values in October.” The Perth have a balance housing market because Perth median price is now $460,000 in which the same with the national capital city median. Although market was soften but I think last October was stepping stone that leads the path for the market to recover.

http://www.oneperth.com.au/2012/11/01/perth-house-prices-2012-2/


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According to the market Snapshot by Rich Harvey, CEO, Property Buyer, “The property market looks set to generally move forward in 2013 as confidence and capacity returns to the market place.” Perth is one of the best prospects for annual growth because of the population growth, rising incomes from mining sectors and having competitive housing market. Perth nowadays has a strong movement of housing market. Indeed, Perth has s table housing market because of housing shortage and the demand is too high to keep the rental vacancy tight.

http://australiavisanews.net/2012/11/16/australian-housing-market-november-2012/



Tags: perth

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Based on the Reserve bank’s monthly meeting yesterday November 20,2012, there are further interest rate cuts-possibly as early as next month . What makes RBA decide to interest rate? There are a lot of reasons to be considered like slowing the domestic growth and central bank lowered their official cash rate. These are the effects that trigger the RBA to have possible interest rate cut. Will the RBA cut interest rate? Would it be the right time to cut interest rate?

http://www.perthnow.com.au/business/rba-to-consider-further-rate-cuts/story-fn7kjv7y-1226520276802


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According to Census figures show an increasing number of people choosing to be tenants instead of owners. It means it is good to invest property for those people who are looking for a home to rent. It is advantage also for the investors because many people cannot afford to buy a house and rental market will become more tighten. I think it will drive the housing market to become more stable and more competitive. This is the good start for next year’s recovery.

http://www.perthnow.com.au/realestate/renting/renters-boost-investors/story-fndcyu0h-1226511461988


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According to AMP Financial Planner Clair Esmond, “Although Perth is expensive; it boasts the highest financial standard of living.” Perth is the second most expensive state capital city to live but the cost of living is still on average because Australians are spending money for their significant needs. This is one of the factors why Perth is very competitive market because even it is one of the most expensive capitals but still there are a lot of migrants that’s makes the housing market become stable.

http://www.perthnow.com.au/business/perth-is-second-most-expensive-city-but-lifes-still-pretty-good/story-e6frg2qc-1226344366545


Tags: perth

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National Australian Bank Survey released last November 8, 2012, Commercial Property index hits very low during the September quarter. It means that business conditions weaker and people didn’t reach their expectations on the market. Victoria is the weakest but still WA is the strongest market. Despite of the least optimistic, people don’t lose hope and still expecting that market will recover and become stable next year.

 

Commercial Property Survey _September 2012_ (4).pdf (310.56 kb)


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Based on the preliminary figures from ABS, “Capital city house price slowed in the September quarter to 0.3%, led by a 1.8% rise in Perth’s house price index to a median of $489,000.” Although we see a soft increase in our housing market but we need further stabilization by cutting the interest rate. Investors and Analysts could see housing market improvement if there is possible interest rate cut by the end of this year. Perth house prices revision may update soon.

http://www.propertyobserver.com.au/residential/perth-the-standout-as-house-price-growth-slows-in-september-quarter-abs/2012110657635


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Yesterday was the Melbourne Cup Day and investors expected for another interest rate but unfortunately cash rate remains 3.25%. What are the reasons behind why interest rate still on hold?

According to RBA Governor Glenn Stevens yesterday, “With prices data slightly higher than expected and recent information on the world economy slightly more positive, the Board judged that the stance of monetary policy was appropriate for the time being.” Financial markets were improving and there have been some signs of ongoing growth. I hope this market will continue improving and never subdued.

http://www.perthnow.com.au/money/interest-rates-remain-steady-on-melbourne-cup-day-rba/story-e6frg2uc-1226511424281


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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


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Westpac Chef Executive Gail Kelly expects the Reserve Bank to trim the cash rate by end of 2012. Would it be possible for interest rate cut? Many are expecting to have another interest rate cut during the Melbourne Cup or by the end of this year. Interest Rate is very beneficial to consumer confidence to have a competitive market. We need to maintain the consumer confidence and the volatility of property market because this is the starting point for the next year’s market. Investors and Analysts expect to have a better property market next year.

http://www.perthnow.com.au/news/breaking-news/westpac-expects-rate-cut-by-end-of-2012/story-e6frg133-1226510531323


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According to the Housing Industry Forecasting Group (HIFG) on Wednesday, “First home buyers has increased their share of total new loan approvals to 34% in the 3 months to August, compared to the long-term average of 2.7% since July 2000.” This is the start that housing starts to recover till the beginning of next year. We all know that home buyers have increased and rental market remained tight but home buyers confidence was returning to the market. Because of so many migrants overseas and from interstate, housing market expect to a healthier level of activity and put pressure on it. It is signs also that the market is on the way up for recovery.

 http://www.perthnow.com.au/news/western-australia/wa-housing-market-outlook-brightens/story-e6frg13u-1226507532201


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Based on The Australian Bureau of statistics report last Wednesday, “Residential building approves rose by 7.8% in the month of September to be up 12.4% from the same month a year ago.” It points to rising consumer confidence in the housing market because of the interest rate cuts. Economists also predict that there will be an increase in a construction of new homes in WA. Indeed, economists expecting to have another interest rate cuts that drives the housing market recovered.

http://www.perthnow.com.au/news/breaking-news/building-approvals-rise-78-in-september/story-e6frg133-1226507448910

 


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