I scratch my head when I read BIS shrapnel latest growth of house prices for 2011-2013 20%. Colleagues I know who work for different realestate agents in Perth have turned away sellers. The rising advertising costs are the main reason and the extreme lack of buyers.
The one main comment I'm hearing is that even in the last week before settlement they turning away from the contract, its unheard off. The market is dry of buyers. The resource boom, there is no confidence, my own family in the industry are seeing foreigners taking australian jobs. These large Gas giants are bringing in more of their own people. There is no confidence, some thing is definately wrong here in Perth, I've never seen anything like it in these last 22yers in perth. Everywhere I drive I'm constantly seeing the same homes for sale but changes on the front board with a different agent. So where are these figures comming from, where is this so called boom. In airy fairy land. In real life no one believes in it. Only the banks believe in it as they want to make more money by driving up interest rates. But thats another story a very dangerous one.
