Book a consult with Michael: https://calendly.com/d/cwrg-969-cjc

97% of capital city suburbs lost value over the last three months, yet Perth’s median house price is still up 17.7% on a year ago. Both are true, and reading the wrong one could cost buyers tens of thousands. In this mini, Michael Killiner explains where the market stood at the end of September and where he thinks it is heading.

Michael unpacks how the correction has spread from Sydney and Melbourne to the cities that boomed hardest, why Cotality and REIWA can both be right about Perth, and why the bank’s valuation is now the number buyers should fear most.

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General advice only and not personal advice. CRN 485467

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In this episode:

• National values fell 1.1% in September, the sixth fall in a row, and sit 5.2% below the March peak. Perth is down 6% from its April peak.

• It is a buyers’ strike, not a fire sale. Sales are down 19.1%, stock on market is up 23.1% and fewer than 1% of borrowers are in negative equity.

• REIWA’s 17.7% annual median shows where Perth has been, while Cotality’s monthly index shows where it is heading.

• A 7% fall tips an $800,000 home with a $600,000 loan over 80% loan to value, which means mortgage insurance and a higher rate.

• A $600,000 Perth unit at a 5.2% yield earns about $31,000 in rent, roughly the interest on an 80% loan at 6.5%.

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Subscribe: https://youtube.com/@ThatBackyardPropertyPodcast

Instagram: https://instagram.com/backyardpropertypod?igsh=MWhkOWx5YzJxdDc3ag==

Website: https://tuskfinance.com.au

Connect with Michael:

Facebook: https://facebook.com/tuskfinancemk

Instagram: https://instagram.com/mortgageswmichael

LinkedIn: https://linkedin.com/in/michaelkilliner

TikTok: https://tiktok.com/@backyardpropertypodcast

Tusk Finance: [email protected]

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Chapters:

(0:00) Rate rise and the 97% stat

(1:00) September numbers by city

(3:00) A buyers’ strike, not a fire sale

(5:00) Why REIWA and Cotality disagree

(6:00) Perth supply, rents and jobs

(8:00) Where the market goes from here

(9:00) Why bank valuations matter now

(11:00) Tips for buyers, sellers and investors

(14:00) What to watch next

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Produced by Podwave Studios: https://www.podwavestudios.au

#ThatBackyardPropertyPodcast #PropertyPodcast #PerthProperty #PropertyMarket #PropertyInvesting #HousePrices #InterestRates #Mortgages #TuskFinance #Cotality #REIWA