@@jamesdese4090 an extremely low base and not enough to shake anything, after the 2021 boom year the same happened in many other markets. Yet they didn’t fall off and instead still enjoyed years of strong growth. Hope that helps.
@@investorkit With all the green shoots Jung went through there should be no reason there should be an uptick in listing numbers and days on market if anything if going by data we should be seeing the same extremely low listings and days on market like we say mid 2024. Only difference between now and 2021 is that people are feeling that pinch of prolonged high rates and on top of that there has been a mammoth amount of redundancies in WA mining after nickel, iron ore and lithium have collapsed in prices and in turn slowly dwindling the borrowing power of those earning the most in that industry.
When you refer to Perth's median house price at $650k are you referring to Greater Perth or Perth City? Also, where are you sourcing this from - I can't match this to my sources
Thanks for your question @GU3SSwho1. $650k refers to Greater Perth - in InvestorKit content we usually refer to the Greater Capital City region when we talk about capital cities. The data is from Domain (Jul 24 ending at the time we shot this episode), and it’s a 12-month rolling median, which makes it lower than the past 1-month or 3-month median considering Perth’s fast growth. The latest data we have are - 12m rolling median = $690k, and 3m rolling median = $735k.
When was this information current? Having only been released in the last 24hrs, it really should be up to date. I have looked to InvestorKit for accurate and current information, I have watched most of your videos in the past few months; I have trusted the accuracy of the information, particularly outside of WA, without feeling the need to confirm what is being shared. However, as a Perth resident, I am aware of current market data. Your median house price of $650,000 is inaccurate and substantially off the mark, with REIWAs' current data at $720,000 and Core Logic dwelling at $785,000, as well as the comment above on the listing increase. I would always do my own homework prior to committing to any purchases. However, it is invaluable to be able to consume content from trusted sources. This makes me concerned about the current validity of the information you share and requires me to fact-check, which is a shame.
Hi @zubair242, Thank you for your reply. You’re right - this episode was recorded a few months ago. There has been a lift (not 35% though) in number of listings in recent months. However, I do not see significant trend shifts in other indicators that reflect demand/supply relationship more accurately, such as inventory, days on market and vendor discount. Also, do you mind sharing what source you used where you saw the 35% increase?
This video discusses both short-term and long-term investment opportunities, grounded in market facts. The timing of its recording, whether recent or a few months ago, is irrelevant. The 20% surge in listings is seasonal, a pattern seen across all states, particularly when comparing to the winter months historically-this trend occurs annually. In Perth, listings have increased by about 4% compared to last year, as reported by REIWA. There's still plenty of potential in Perth, and I agree that it remains the top investment destination for at least the next few years.
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Live your lively presentation.
Thankyou Junge. Information with a beautiful smile
Thank you for this comment @Evvr-gd2xj :).
Brilliant information. Really appreciate you Junge
Thanks for this feedback @nq6417 !
Listings and days on market are creeping back up
@@jamesdese4090 an extremely low base and not enough to shake anything, after the 2021 boom year the same happened in many other markets. Yet they didn’t fall off and instead still enjoyed years of strong growth. Hope that helps.
@@investorkit With all the green shoots Jung went through there should be no reason there should be an uptick in listing numbers and days on market if anything if going by data we should be seeing the same extremely low listings and days on market like we say mid 2024. Only difference between now and 2021 is that people are feeling that pinch of prolonged high rates and on top of that there has been a mammoth amount of redundancies in WA mining after nickel, iron ore and lithium have collapsed in prices and in turn slowly dwindling the borrowing power of those earning the most in that industry.
When you refer to Perth's median house price at $650k are you referring to Greater Perth or Perth City? Also, where are you sourcing this from - I can't match this to my sources
Thanks for your question @GU3SSwho1. $650k refers to Greater Perth - in InvestorKit content we usually refer to the Greater Capital City region when we talk about capital cities. The data is from Domain (Jul 24 ending at the time we shot this episode), and it’s a 12-month rolling median, which makes it lower than the past 1-month or 3-month median considering Perth’s fast growth. The latest data we have are - 12m rolling median = $690k, and 3m rolling median = $735k.
Actually the properties are still cheaper than Brisbane
This is old information now. Listings and days on the market have increased. Listings have increased about 35 percent in the last 2 months.
When was this information current? Having only been released in the last 24hrs, it really should be up to date.
I have looked to InvestorKit for accurate and current information, I have watched most of your videos in the past few months; I have trusted the accuracy of the information, particularly outside of WA, without feeling the need to confirm what is being shared.
However, as a Perth resident, I am aware of current market data. Your median house price of $650,000 is inaccurate and substantially off the mark, with REIWAs' current data at $720,000 and Core Logic dwelling at $785,000, as well as the comment above on the listing increase.
I would always do my own homework prior to committing to any purchases. However, it is invaluable to be able to consume content from trusted sources. This makes me concerned about the current validity of the information you share and requires me to fact-check, which is a shame.
Hi @zubair242, Thank you for your reply. You’re right - this episode was recorded a few months ago. There has been a lift (not 35% though) in number of listings in recent months. However, I do not see significant trend shifts in other indicators that reflect demand/supply relationship more accurately, such as inventory, days on market and vendor discount.
Also, do you mind sharing what source you used where you saw the 35% increase?
Agreed
@@investorkitwhy did you wait for three months before uploading the episode?
Or was it available immediately after filming to paid subscribers?
This video discusses both short-term and long-term investment opportunities, grounded in market facts. The timing of its recording, whether recent or a few months ago, is irrelevant. The 20% surge in listings is seasonal, a pattern seen across all states, particularly when comparing to the winter months historically-this trend occurs annually. In Perth, listings have increased by about 4% compared to last year, as reported by REIWA. There's still plenty of potential in Perth, and I agree that it remains the top investment destination for at least the next few years.
Thanks so much for your comment and analysis @Buy4tune.