No argument at all from me. Stated my case many times previously......the mining boom is far from over, the only delay is labour with many major projetcs delayed because of it.
Attended an auction yesterday and the property sold above reserve in 10 minutes. Nice house and well presented, not very big obviously sought after and it went in a blink. Lots attended seemingly thinking it may be a mortgagee auction with their piss weak bids being blown away with the demand from others. One pulling out saying "it's not a bargain anymore" in his hope of buying well below replacement cost (dreamer). The ones who eventually got it were very keen buyers, could see the exceptional value and just kept bidding up.
Another in my street sold withing 2weeks of listing and another nearby within 19 days. Demand is very evident with no sign of weakening. Rental demand is peaking out at present and rents rising rapidly.
The share market is burning many and property will be in vogue once again (as usual).
Perth property is NOT going to crash like some would have you think. Prices are definately flat in some areas and has market has slowed but values are still creeping up and demand is strong. People expecting a US scenario here are way off the mark and will be left behind once again.
