Tuesday, November 9, 2010

VALUE

Property Prices in Perth fall - and more reductions in property values are predicted.... http://fb.me/O3mtjj0Vless than a minute ago via Facebook



There's a lot of rubbish speculation about what's happening in Perth's property market.

Perth's median house price fell five per cent in seasonally adjusted terms to $480,000 in September.

The fall makes Perth the country's weakest performing capital city market.
People are spouting all sorts of mumbo jumbo about uncertainty over the mining tax, cautious first-time home buyers, and "market corrections" causing the decline, but you know what the real cause is?

Numbats.

Once Numbats moved into the neighbourhood, everything went downhill. Crime rates soared--with a marked increase in incidents of vandalism--and previously honest, respectable neighbourhoods were overrun with drug use, loud music, and kids refusing to respect their elders.

Say what you want about investors waiting to see if the market softens further, but if potential buyers drive into a neighbourhood and see Numbats leaving their washing out to dry in full public view, letting their children run amok to scatter toys across the front lawns, and loitering in the streets, they'll keep on driving.

Am I wrong about this? Maybe it's just me, but I can't imagine anyone having a worse effect on property values than Numbats.

2 comments:

archiearchive said...

While the numbats are the obvious problem I ask you. Who is pulling their strings? Who is making the profits? It is the monotreme landlords. That's who!

Racist Wallaby said...

You raise a fair point. The law should start cracking down on monotreme slum lords who fail to keep their properties in good repair. It's almost as if they want the property values to fall, so they can purchase more units and rent them out to more trashy numbats to perpetuate the cycle.