Wednesday, March 2, 2011

Jan 2011 Perth Housing Starts Up 6.3% & Then also Down 4.67% at the same time?

On The 2nd March 2011  Perth Now Reported Perth Housing Starts were up 6.3% based on Data supplied by the Housing Industry Asoc .... The HIA put this garbage out to trick home buyers into thinking the market has turned around & now is a Perfect time to Build?

Unfortunately 24 Hours later the ABS put data out that said Housing Starts in Perth had fallen 4.67%!!!

You have to question & check information or data supplied from bodies with a vested interest in talking up the property market!!! ... Dont trust the HIA / MBA / Banks / Newspaper Property Reporters & others with vested interests!!

See Images Below:


  1. Keep up the good work. Something that surprises me is that in addition to all the greed out there, there's so much stupidity as well among buyers. A lifetime of debt servitude for a poorly constructed bundle of bricks that can only ever depreciate in condition - and in price. Crazy.

  2. Australian housing is vastly, dramatically overpriced, by all reasonable measures. Unchecked commodification of shelter for the population has been caused by misguided governments failing to regulate the housing market while encouraging the use of tax loopholes like negative gearing and permitting over-leveraged speculators to bid up asset values so the govt can benefit from huge intakes of land tax, rates and stamp duty. The recent analysis by The Economist is right on the money, and you can see from the chart gallery below (including two charts from The Economist house price web tool) just how overvalued Australian housing really is.....

    Australian Housing Bubble Charts

    12 months ago there was complete denial that real estate was in trouble, but now the realization is beginning to dawn on many that something terribly serious is about to occur in Australia. The spruikers maintain faith in a soft landing, but they're straight out of luck this time. The bigger the boom, the bigger the bust, and the property boom that began in Australia in the nineties evolved into the greatest real estate bubble known to mankind. The bust that's coming will be a doozy. As 2011 unfolds the spruikers will come to understand that real estate in Australia is dead for generations. For anyone who's interested in reading some excellent blogs about the Australian property bubble I highly recommend the blogs hosted on the Australian Property Forum.....

    Australian Property Bubble Blogs

    During the next two years we can expect to see vacancy rates and inventory levels surge to unprecedented levels as house prices collapse by up to 40 or 50% in most parts of Australia. This might sound extreme, over the top. But how over the top were the 200% to 300% rises in house prices we saw over the past decades. A 50% fall is nothing in the scheme of things, it just brings prices back to a fair level. House prices always revert to the mean and Australia is no different. All the nonsense dreamed up by spruikers about shortages and population growth, it's all just hot air, designed to breath more life into the bubble. A vain attempt to blow new life into a dying bubble justifying more unsustainable price increases to already exorbitant asset prices. But the air has run out. Consumers are tapped out. There is no more money left. The bubble is dead. Long live the new new paradigm, where an average family can finally afford a decent home in Australia. It's been a long time coming, but soon it will be time for the bears to party. Bring it on!

    Australian Real Estate Crash Forum

  3. So does that mean rents are too cheap? Or does that mean rents will come down with property prices?

    I'm not looking at buying or selling.... but holding my rental property as my retirement

    Cheers and well done!