"Perth historically runs at 12,000 to 13,000. 4000 is not the starting point.""
you guys are the ones harping on about supply and demand so the 4000 figure is relevant
Perth property peaked in late 2006, up to that point you could hold one home open and have 3 or 4 competing bids, people were in a foolish panic to buy.
In Perth western suburbs (where many cashed up migrants are buying) you rarely saw a home open sign and they had not been seen for a few years
At this time it was a case of a limited supply of houses with buyers in a frenzy pushing prices up.
This time last year there were 4000 properties on the market, supply was increasing the frenzy had stopped.
Also during this period home open signs started to appear again
Now we have 16,000 homes on the market, plently of supply, buyers happy to suit back, wait and take their time and prices falling.
Home open signs are everywhere now in the western suburbs, nothing for 2 or 3 signs to be sitting on one corner.
