Agents slam the latest property figures as misleading.
What a load of rubbish!!!! I am in real estate and have been for the last 21 years and am very active in the Perth market. I assure you that a10 per cent increase is a pipe dream....I suggest you come out into the real world. Eddy Boehm
As a property manager of 22 years we are experiencing an extremely quiet start to the year and are finding that our clients have had a higher vacancy factor for the first time in many years. We manage properties throughout Perth. Rents are presently not increasing or if they are, [they are increasing] by no more than $10.00 per week. It may be that later in the year the rents will go up, [but] I would be more inclined to think that the high percentages quoted will be as a result of the predicted industry influx in the mining areas north of Western Australia, where there is a definite shortage of properties and not in Perth itself. Data like this makes it very difficult for the property management industry. Robyn Spinley Genesis Asset Management
Mortgage insurers have substantially tightened up on their criteria on all home loans. For example, only a year ago, I could give my son or daughter a gift of $20,000 or $30,000 to be used as a deposit on their first home. With the proof of pay slips and a brief savings program, the lending institution would entertain a loan, and thus the ‘mortgage insurers’ would accept this as an acceptable level of surety that that mortgagee could repay the loan. In addition, ‘mortgage insurers’ do not any longer accept rental payments as a form of saving for the future mortgagee. If a young person is trying hard to save, paying high rental payments, plus other living costs, then surely they are showing their capacity to repay a loan. This in turn, should give the insurers confidence that the loan will be secure. I would be very interested in someone else’s opinion, particularly if they are from a regional area or smaller community. David Wadey, LJ Hooker
It has been reported to me by mortgage brokers that financial institutions are tightening up their lending policies, which makes you wonder why the government has to bail them out without any contribution from themselves. Doug Svensen PRDnationwide
I have been in real estate Sales for 20 years and a wage plus commission would be a much fairer way for sales people to be able to budget family expenses. Over the years I have seen the industry lose so many promising young agents because the pressure of covering bills in lean times was destroying their marriages. Merrilyn Gray