Good episode but im not so sure rate cuts are the messiah vendors have been waiting for the re-accelerate the Perth market in particular. When the RBA cut rates back in 2019 after a long period of a stagnant cash rate, if anything it only stimulated the east coast market, Perth didnt even move. I think the east coast investors will look to their local markets once rate cuts come along with a larger borrowing power and look to re-invest there again as theres opportunities popping up with higher listing creating more options for buyers there.
100% agree but that will give owner occupiers/locals to get in. It won’t die off. It will still be aggressive for PPORs instead of bottom feeding Armadale bargains
@@nq6417 Locals will still get in but Perth folks are hawks when it comes to paying a fair price. Anecdotally after attending a number of auctions you hear the usual scoff and remarks along the lines of "that was a bit steep", "he overpayed for it", "its not worth that much" etc. On top of that the clouds on the horizon are forming in the jobs market with the recent downturn in commodity prices ie. Nickel, lithium and iron ore- this has cause a wave of redundancies in mining which are yet to show up in the jobs figures and we all know the link between mining and property in Perth.
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Very interesting thank you
Thanks for the update
Good episode but im not so sure rate cuts are the messiah vendors have been waiting for the re-accelerate the Perth market in particular. When the RBA cut rates back in 2019 after a long period of a stagnant cash rate, if anything it only stimulated the east coast market, Perth didnt even move. I think the east coast investors will look to their local markets once rate cuts come along with a larger borrowing power and look to re-invest there again as theres opportunities popping up with higher listing creating more options for buyers there.
100% agree but that will give owner occupiers/locals to get in. It won’t die off. It will still be aggressive for PPORs instead of bottom feeding Armadale bargains
@@nq6417 Locals will still get in but Perth folks are hawks when it comes to paying a fair price. Anecdotally after attending a number of auctions you hear the usual scoff and remarks along the lines of "that was a bit steep", "he overpayed for it", "its not worth that much" etc. On top of that the clouds on the horizon are forming in the jobs market with the recent downturn in commodity prices ie. Nickel, lithium and iron ore- this has cause a wave of redundancies in mining which are yet to show up in the jobs figures and we all know the link between mining and property in Perth.
Thanks