property crash here we come, page-53

interesting thread. There are from my glimpses of local papers 'thousands' of vacant properties for rent in Perth & no doubt some vacant & not for rent for what ever reason.IMO the first todays .25% rise will not make a great deal of difference but when 'we' get the follow up (check Grant's list) then those not able to pay off loans or buy a property will go renting & when the 'for rent' properties are 'scarce' then rents will creep higher.

I happen to rent in a Burswood house 1/4 acre block & on one side the p/y just sold for $520k & the nice old house is being demolished to make way for 4 units. On the other side the old house on a 1/8 acre (had been subdivided & new house built at the back)recently 'done up' & tuck pointed never sold at the asking price of $330k & is now rented.The owner spent 'thousands' doing it up- the house not the garden/parking area-& never painted the chimney.A message there somewhere.