If we see confidence levels remain steady, it makes the housing market become stable also. Last May, it was sluggish market performance but this June, house prices may increase.

According to the latest SQM Research Report, “Perth house prices were predicted to rise between 6% to 13% for 2013 – this has now been revised to 4% to 7%.” Falling interest rate influence the market and its slow down due to rising rental vacancies. Based on the RP Data report, the median house price in Perth is currently $704,000. Indeed, house prices modestly increasing.

http://www.propertyobserver.com.au/news/sqm-forecasts-modest-perth-house-price-rise-between-4-to-7-louichristopher-sqmresearch-boomandbust/2013061162044


Tags: house prices

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Based on the BIS Shrapnel’s report into residential Property Prospects for the next three years also predicts a consistent, rather than spectacular, level of growth in the medium term, at the end of which the $600,000 mark should be broken.

House prices may surge but it flattened out because of the interest rate may arise. Interest rate and population demand are the influential factors that really play a big role in the market. Demand for the property is increasing and we have higher levels of construction to cope up the demands. I think if the interest rate would raise, house prices may fluctuate also and lead the economy to boom.

http://news.domain.com.au/domain/real-estate-news/perth-average-house-price-to-top-600000-20100615-ybgn.html


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Australian Residential Property Market have reported prices decline for the past months but it is pointing to activate a recovery of the market this 2013.

According to the RBA’s Board, “There were also signs the appetite for borrowing in household sector was picking up and the housing market generally appeared to be improving, it’s the effects of the most recent and earlier reductions in the cash rate worked their way through the economy”.

Australia Vacancy Rates have tightened and sales volumes are increasing. Low interest rate encourages demand to increase and the confidence remains strong despite of the rumors low pace economy. The mentioned factors are the key to the recovery and stabilization of the strong market. Residential Property market factors to increase because nowadays it is clearly in recovery.

http://www.apimagazine.com.au/api-online/news/2013/06/positive-outlook-for-housing-market-rba


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According to the Westpac Melbourne Institute Consumer Sentiment Index rose 4.7% in June from 97.6 in May to 102.2 taking the index back over the 100 level indicating that optimist now outnumber pessimists.” Consumers are becoming more confident and more willing to commit high decisions. Among all cities, Perth has the most optimistic expectations for the housing markets and expecting that the rent will rise over the coming years. June is the good time to buy a major household item because of the low cost of finance cost and comparatively affordable. An overall result reflects positive assessment of hoe consumers competes and views the housing market.

http://www.ibtimes.co.uk/articles/477633/20130612/australian-consumer-confidence-rebounds-june-amid-concerns.htm


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Based on what we can see in Australian Property Market, Australian market is considerably better and things are getting back to normal. Despite some ups and downs of our housing market, it didn’t collapsed instead struggling to be a better housing market. Based on the reports, Australia’s property market is showing positive signs of growth.

According to Comparison Site RateCity, “February 2013 saw the highest value of investment loans written since before the global downturn, with would-be landlords borrowing a total of $7.9 billion to fund rental property purchases.” The demand is strong and the supply is limited but still we have seen confident growth and sustainable prices. Low interest rates, RBA’s cut to the official rate and low mortgage rate is some reasons why our property market is heading back to normal.

http://www.coffscoastadvocate.com.au/news/residential-property-gets-upkick/1863373/


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Nationally, Perth Property Market has fallen these past months because of the falling on interest rate. Investors, Buyers, and sellers are somewhat taking advantage of swinging the economy which considered struggling economy.

RP Data-Rismark’s measure of home values across the nation showed Perth prices were up one per cent last months, led by housing sector. Low interests has pushed up Perth house prices but nevertheless the mining sector still reported the best company profits in which Perth driven by the said sector.

http://au.news.yahoo.com/thewest/a/-/newshome/17464319/perth-home-prices-buck-trend/


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Most of the major cities are still positive in the past first quarter and Perth had the strongest quarterly performance. Western Australia’s capital has the biggest home price increases and Sydney remains the most expensive city to buy a home.

According to SQM Research’s Perth Housing Boom and Bust Report, “Perth is set to record modest house price rises for 2013 and 2014.” Rising vacancies may make somewhat to be cautious in swinging market and thinks that it’s going slow down. But, despite of the speculation, Perth remained the strongest cities for rent and home prices growth. Falling of interest rate influenced Perth reported to have another positive year and there is improvement seen in the reflection of more realistic seller and buyers expectations.

http://www.rebonline.com.au/breaking-news/6396-perth-house-prices-set-to-rise-report

 


Tags: perth

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According to David Airey from the Real estate Institute of WA (REIWA), Perth’s housing market is generally performing well.” Indeed, because Perth considered as one of the hottest spot that investors would come and a good place in starting a family. Although vacancy rate rose as well as the rent but still it doesn’t affect the equilibrium of the market. Perth property market is a very strong market which has the position to encourage sellers and buyers. Perth rental price increase but still the market is stable.

http://www.abc.net.au/news/2013-05-04/mixed-news-in-wa-property-market/4669684


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According to one of the two major Industry Association that lobby for the interest of Australia of Australian builders, “Perth has three of Australia’s top five, “housing spots”. We are all know that Perth have buildings and population “hot spots” because of so many migrants coming for employment and many investors for investment.

 

According to HIA Chief Economist, Harley Dale, “Western Australia…is seeing a recovery in new home building this year and four spots in the top 20 list provide an indication of  the potential in the West.” The population growth is increasing nowadays and los of housing approvals and these results are challenging for the housing industry. It is clearly seeing a potential to have a sustainable and healthier activity in recovering market. Evidences have already been seen that housing market is truly recovering and expected to have a better economy.

http://www.oneperth.com.au/category/metropolitan/


Tags: perth

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Based on the Wikipedia, Recession is a business cycle contraction, a general slowdown in economic activity. Recession has a broad definition and lots of factors considered when we concluded that a state has recession. Considering Western Australia is one of the boom states, how come we conclude that WA is in a recession?  In fact, lots of factors driven in WA to have a strong economy.

According to WA treasurer Troy Buswell , defended the state of the Economy, “It was growing at record levels and the state remained “a great place to do business”. Some opposition economists concluded that WA has slowdown economy because of the non-mining growth. We have factors to be considering in examining the state if the recession is occurred. Despite of the negative implications, there is good news to be taken. In mining sector there is a slight recovery especially on the iron ore price and more building approvals coming in WA. Employment and population growth has driven and I think this is only a bluff because WA economy is recovering slowly.

http://www.theaustralian.com.au/national-affairs/treasury/boom-state-not-in-recession-says-treasury/story-fn59nsif-1226658975429


Tags: WA Economy

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Interest rate uses for monetary policy and influence the cash rate in financial market operations, Reserve Bank is the institutions to decide in dealing the interest rate and last June 4, RBA decided to leave the interest rate on hold during their meeting.

According to Sally Auld, an Interest rate Strategist at JP Morgan, “She is not expecting another interest rate cut until November. That will be pretty dependent on what sort of activity data we see here in Australia over the next month of two and what sort of inflation print we get at the end of July.” The factor influences is the currency level that pressured the RBA to lower the cash rate. The Australian Economy is still struggling at the moment but we need to be optimistic because Economist expected to have interest cut that helps the economy to recover.

http://www.abc.net.au/news/2013-06-04/interest-rates-expected-to-stay-on-hold/4730554


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Based on the RP Data Rismark daily index tracked higher from late April to the 10th of May and then went into a consistent decline over the remainder of the month.” Housing market conditions is consistently going better and because of the strong confidence, it merges to become a stronger one. But despite of the merging of those factors, Perth property market fall through May because of the falling of the interest rates. Anyhow, the market will be returning it’s normal conditions and a strong state economy.

http://au.news.yahoo.com/thewest/a/-/breaking/17451497/perth-strongest-housing-market-in-nation/


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According to CBRE Senior Research Manager Sam Reilly, “The gap in the two-speed economy would narrow as mining investment shrinks over 2013/2014. But the new research shows that the low employment and strong population growth are driven in Perth’s residential growth. However, the first quarter shows an increase in median price in Perth by 1.8% to $496,000. A strong increase of demand in residential property across in Perth which is encourages investors for high development opportunities. The higher of rental demand pursues the first home owners to move out and find a new house in which simulate buyer activity. Indeed, we have competitive property market and it is swinging into a better one.

http://www.cbre.com.au/aboutus/mediacentre/mediaarchives/Pages/05302013.aspx


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