Friday, January 30, 2009

Odds on RBA dropping Interest by 1%

From WA Business News, "The Reserve Bank of Australia is tipped to slash the official interest rate next week to 1960s levels as it continues to try to mitigate the impact of worsening global economic conditions. All 17 economists surveyed by AAP expected the central bank to slash the cash rate next Tuesday to stimulate a domestic economy facing its first recession in 18 years.

Nine economists, a majority, expect the cash interest rate to be cut by 100 basis points, following the RBA's February 3 board meeting, which would take the cash rate to a 45-year low of 3.25 per cent - its lowest since 1964 when regulators set it at 3.18 per cent."

Do you know a broker? Who have you recommended in the past?

I know this is probably asking for trouble but I was wondering what everyone out there thinks of mortgage broker referrals. I have heard  some brokers quietly offer incentives to people who refer them to their friends etc. 

What incentives have you been offered or received by recommending a broker? Is there a particular broker that you would recommend? Why? Leave a comment and if there are any endorsements, take it with a grain of salt especially if its from Anonymous :)

House values fell in more than 40 per cent of Perth suburbs

If you are looking for a home in Perth, the following article will be particularly useful. We're now looking at the performance of average house prices. The danger here is the artificial increase in "average" house prices due to factors such as land releases etc. As revealed in this article, its not all bad news. East Perth (pictured in the banner of this blog) went up 36% in value!!!

Perth's worst performing suburbs revealed

"House values fell in more than 40 per cent of Perth suburbs in the last financial year, latest figures show.

The Landgate statistics show prices recorded no growth at all in a further 18 per cent of Perth suburbs.

They paint a further bleak picture of the once-booming residential real estate scene in the city, after Real Estate Institute figuresreleased earlier this week showed house prices had fallen 11 per cent across Perth in 2008.

Landgate surveyed 246 properties in 232 suburbs in the metropolitan area, revaluing what acting valuer-general Kevin Di Prinzio called a typical property in each suburb.

Westminster suffered most, with the suburb recording a 15.2 per cent drop in market value, closely followed by Midland (down 14.3 per cent) and East Cannington.

Midland (20.7 per cent) recorded the largest drop in land value, while the south-east dominated the poorest rent performers, headed by Jarrahdale (15.1 per cent drop), Mundijong (12.9 per cent) and Byford (10 per cent).

East Perth recorded the largest jump in market value, at 36 per cent, while northern suburbs Kingsley (27.3 per cent), Mindarie (26.7 per cent) and Two Rocks (23.3 per cent) filled the next three spots.

Coogee (48.1 per cent) posted the largest increase in land value, largely due to new land releases, while Herne Hill (45.5 per cent) topped the list of rentals.

Rental growth was particularly strong across the city, with suburbs as diverse as Swanbourne (38.5 per cent) and Lockridge (34.6 per cent) recording healthy rises.

Overall, the average rent was up 13.8 per cent to $330, land value was constant at $440,000 and market value rose 2.9 per cent to $540,000.

Landgate acting chief executive Paul Whyte said that as the survey was based on actual valuations of a constant sample of properties, it reduced distortions that might occur when using measures such as average sale price."

from: http://www.watoday.com.au/wa-news/perths-worst-performing-suburbs-revealed-20090116-7iw3.html

Thursday, January 29, 2009

Top 20 Worst Suburbs in Perth

From the figures in 2007/08 crime rate, we bring you the top 20 worst suburbs in Perth for crime.

TOP 20 Suburbs - % Houses broken into

1 Northbridge 13.6%
2 Medina 10.6%
3 Westminster 10.3%
4 St James 10.2%
5 Karawara 9.6%
6 Aubin Grove 9.4%
7 Koondoola 9.3%
8 South Lake 9.1%
9 Midland 9.0%
10 Bentley 8.3%
11 Hilton 8.0%
12 Neerabup 7.9%
13 Caversham 7.7%
14 Jindalee 7.4%
15 Redcliffe 7.4%
16 Wattle Grove 7.3%
17 Beeliar 7.1%
18 Naval Base 7.1%
19 Balga 7.1%
20 Burswood 7.0%


Suburbs that just narrowly missed out on the top 20 worst crime suburbs include Bertram, Koongamia, O'Connor, Nollamara, Mirrabooka and Ankatell

Other Perth Suburb Posts

How Bad is Your Perth Suburb?


If you are thinking of buying a house in Perth, one major factor you should consider is the crime rate. One of the best indicators of this is the percentage of homes broken into in that suburb. Here is the crime rate for your Perth during the 2007/08 financial year (to see a more recent post about crime in Perth, click here)

Alexander Heights - 3.7%
Alfred Cove - 1.9%
Anketell - 6.6%
Applecross - 3.5%
Ardross - 2.3%
Armadale - 3.5%
Ascot - 3.8%
Ashby - 1.45%
Ashfield - 5.81%
Attadale - 2%
Atwell - 5.4%
Aubin Grove - 9.4%
Balcatta - 4%
Balga - 7.07%
Ballajura - 1.9%
Banjup - 1.9%
Banksia Grove - 2.5%
Bassendean - 5%
Bateman - 2.5%
Bayswater - 4%
Beaconsfield - 5.99%
Beckenham - 4.5%
Bedford - 1.568%
Beechboro - 3.6%
Beeliar - 7.1%
Beldon - 2.7%
Belhus - 2.3%
Bellevue - 4.1%
Belmont - 5.4%
Bentley - 8.3%
Bertram - 7%
Bibra Lake - 3.5%
Bickley - 5.4%
Bicton - 2%
Booragoon - 1.51%
Boya - 4.3%
Brentwood - 4.7%
Brookdale - 5.7%
Bull Creek - 1.10%
Burns Beach - 6%
Burswood - 7.01%
Butler - 2.8%
Calista - 3.3%
Canning Vale - 2.3%
Cannington - 4.45%
Carabooda - 2.3%
Carine - 1.7%
Carlisle - 5.3%
Carmel - 4.7%
Carramar - 1.07%
Casuarina - 1.5%
Caversham - 7.7%
Champion Lakes - 5.7%
Churchlands - 1.7%
City Beach - 2.1%
Claremont - 2.2%
Clarkson - 4.3%
Cloverdale - 5.2%
Como - 3.8%
Connolly - 1.567%
Coogee - 2.4%
Coolbellup - 3.4%
Coolbinia - 2.9%
Cooloongup - 3.2%
Cottesloe - 2.5%
Craigie - 2.7%
Crawley - 0.8%
Currambine - 1.16%
Daglish - 1.57%
Dalkeith - 1.6%
Darch - 2.1%
Darlington - 4.3%
Dianella - 1.67%
Doubleview - 3.4%
Duncraig - 1.7%
East Cannington - 5.1%
East Fremantle - 3.2%
East Perth - 2.2%
East Victoria Park - 5.6%
Eden Hill - 5.0%
Edgewater - 1.48%
Ellenbrook - 3.9%
Embleton - 4.2%
Ferndale - 2.9%
Floreat - 2.2%
Forrestdale - 5.7%
Forrestfield - 4.1%
Fremantle - 4.4%
Girrawheen - 6.0%
Glen Forrest - 1.9%
Glendalough - 3.7%
Golden Bay - 3.2%
Gooseberry Hill - 2.6%
Gosnells - 4.8%
Greenmount - 4.8%
Greenwood - 1.13%
Guildford - 5.0%
Gwelup - 1.9%
Hamersley - 2.4%
Hamilton Hill - 6.12%
Hammond Park - 4.9%
Hazelmere - 1.4%
Heathridge - 2.4%
Helena Valley - 3.3%
Henley Brook - 2.5%
Herne Hill - 2.3%
High Wycombe - 2.9%
Highgate - 6.5%
Hillarys - 1.25%
Hillman - 2.3%
Hilton - 8.0%
Hocking - 1.7%
Hope Valley - 6.6%
Hovea - 2.9%
Huntingdale - 4.0%
Iluka - 1.9%
Inglewood - 1.9%
Innaloo - 1.8%
Jandakot - 4.9%
Jane Brook - 2.4%
Jindalee - 7.4%
Jolimont - 0.9%
Joondalup - 2.5%
Joondanna - 2.3%
Kalamunda - 1.47%
Kallaroo - 3.1%
Karawara - 9.6%
Kardinya - 2.3%
Karrinyup - 3%
Kelmscott - 3.7%
Kensington - 3%
Kenwick - 4.5%
Kewdale - 3.9%
Kiara - 4.3%
Kingsley - 1.8%
Kinross - 0.96%
Koondoola - 9.3%
Koongamia - 7.0%
Landsdale - 3.5%
Langford - 5.94%
Lathlain - 5.5%
Leda - 3.8%
Leederville - 2.9%
Leeming - 1.35%
Lesmurdie - 1.9%
Lockridge - 3.1%
Lynwood - 2.2%
Maddington - 3.8%
Madeley - 2.2%
Mahogany Creek - 1.3%
Maida Vale - 2.2%
Manning - 5.6%
Marangaroo - 3.7%
Marmion - 2.1%
Martin - 6.5%
Maylands - 2.4%
Medina - 10.6%
Melville - 2.5%
Menora - 1.552%
Merriwa - 2.4%
Middle Swan - 5.90%
Midland - 9%
Midvale - 4.8%
Mindarie - 2.6%
Mirrabooka - 6.7%
Morley - 2.9%
Mosman Park - 3.9%
Mount Claremont - 1.553%
Mount Hawthorn - 1.7%
Mount Lawley - 2.9%
Mount Pleasant - 3.0%
Mount Richon - 3.4%
Mullaloo - 2.3%
Mundaring - 1.328%
Munster - 3.0%
Murdoch - 2.1%
Myaree - 1.0%
Naval Base - 7.1%
Nedlands - 1.43%
Neerabup - 7.9%
Nollamara - 6.8%
Noranda - 1.9%
North Beach - 2.9%
North Fremantle - 3.3%
North Lake - 2.8%
North Perth - 2.2%
Northbridge - 13.6%
Nowergup - 1.3%
O'Connor - 6.9%
Ocean Reef - 1.46%
Orelia - 3.2%
Osborne Park - 3.4%
Padbury - 1.9%
Palmyra - 2.1%
Parkerville - 2.3%
Parkwood - 2.0%
Parmelia - 3.7%
Pearsall - 2.0%
Peppermint Grove - 3.4%
Perth - 3.4%
Port Kennedy - 3.1%
Queens Park - 3.7%
Quinns Rocks - 3.0%
Redcliffe - 7.4%
Ridgewood - 3.5%
Riverton - 4.0%
Rivervale - 4.6%
Rockingham - 3.9%
Roleystone - 1.66%
Rossmoyne - 2.3%
Rottnest Island - 5.5%
Safety Bay - 3.1%
Salter Point - 3.8%
Samson - 5.4%
Scarborough - 2.5%
Secret Harbour - 4.1%
Seville Grove - 6.4%
Shelley - 3.1%
Shenton Park - 0.99%
Shoalwater - 4.5%
Sinagra - 2.4%
Singleton - 2.7%
Sorrento - 2.8%
South Fremantle - 3.6%
South Guildford - 4.9%
South Lake - 9.1%
South Perth - 2.6%
Southern River - 4.7%
Spearwood - 3.8%
St James - 10.2%
Stirling - 2.6%
Stoneville - 2.1%
Stratton - 6.15%
Subiaco - 1.8%
Success - 3.8%
Swan View - 6.6%
Swanbourne - 2.7%
Tapping - 1.9%
The Vines - 3.6%
Thornlie - 3.5%
Trigg - 2.1%
Tuart Hill - 2.3%
Two Rocks - 0.84%
Upper Swan - 3.4%
Victoria Park - 3.8%
Viveash - 5.7%
Waikiki - 3.5%
Walliston - 3.4%
Wandi - 2.8%
Wangara - 5.4%
Wanneroo - 1.561%
Warnbro - 4.3%
Warwick - 1.9%
Waterford - 5.83%
Watermans Bay - 2.6%
Wattle Grove - 7.3%
Wattleup - 4.4%
Wellard - 5.4%
Wembley - 1.49%
Wembley Downs - 1.9%
West Leederville - 2.4%
West Perth - 2.8%
West Swan - 3.3%
Westminster - 10.3%
White Gum Valley - 5.7%
Willagee - 5.6%
Willetton - 2.4%
Wilson - 4.7%
Winthrop - 3.0%
Woodbridge - 4.2%
Woodlands - 2.2%
Woodvale - 1.32%
Yanchep - 2.0%
Yangebup - 4.8%
Yokine - 2.2%

It is also worth considering the reasons why certain suburbs have a high crime rate. For example, Aubin Grove is a very new area with many empty properties which makes it easy to break into without attractng too much neighbourly attention.

One way is to spend a saturday night camped in the street of your desired house and see how the neighbourhood is like.

And here they are. The worst crime suburbs in WA sorted from worst to best 

1 Northbridge 13.60%
2 Medina 10.60%
3 Westminster 10.30%
4 St James 10.20%
5 Karawara 9.60%
6 Aubin Grove 9.40%
7 Koondoola 9.30%
8 South Lake 9.10%
9 Midland 9%
10 Bentley 8.30%
11 Hilton 8.00%
12 Neerabup 7.90%
13 Caversham 7.70%
14 Jindalee 7.40%
15 Redcliffe 7.40%
16 Wattle Grove 7.30%
17 Beeliar 7.10%
18 Naval Base 7.10%
19 Balga 7.07%
20 Burswood 7.01%
21 Bertram 7%
22 Koongamia 7.00%
23 O'Connor 6.90%
24 Nollamara 6.80%
25 Mirrabooka 6.70%
26 Anketell 6.60%
27 Hope Valley 6.60%
28 Swan View 6.60%
29 Highgate 6.50%
30 Martin 6.50%
31 Seville Grove 6.40%
32 Stratton 6.15%
33 Hamilton Hill 6.12%
34 Burns Beach 6%
35 Girrawheen 6.00%
36 Beaconsfield 5.99%
37 Langford 5.94%
38 Middle Swan 5.90%
39 Waterford 5.83%
40 Ashfield 5.81%
41 Brookdale 5.70%
42 Champion Lakes 5.70%
43 Forrestdale 5.70%
44 Viveash 5.70%
45 White Gum Valley 5.70%
46 East Victoria Park 5.60%
47 Manning 5.60%
48 Willagee 5.60%
49 Lathlain 5.50%
50 Rottnest Island 5.50%
51 Atwell 5.40%
52 Belmont 5.40%
53 Bickley 5.40%
54 Samson 5.40%
55 Wangara 5.40%
56 Wellard 5.40%
57 Carlisle 5.30%
58 Cloverdale 5.20%
59 East Cannington 5.10%
60 Bassendean 5%
61 Eden Hill 5.00%
62 Guildford 5.00%
63 Hammond Park 4.90%
64 Jandakot 4.90%
65 South Guildford 4.90%
66 Gosnells 4.80%
67 Greenmount 4.80%
68 Midvale 4.80%
69 Yangebup 4.80%
70 Brentwood 4.70%
71 Carmel 4.70%
72 Southern River 4.70%
73 Wilson 4.70%
74 Rivervale 4.60%
75 Beckenham 4.50%
76 Kenwick 4.50%
77 Shoalwater 4.50%
78 Cannington 4.45%
79 Fremantle 4.40%
80 Wattleup 4.40%
81 Boya 4.30%
82 Clarkson 4.30%
83 Darlington 4.30%
84 Kiara 4.30%
85 Warnbro 4.30%
86 Embleton 4.20%
87 Woodbridge 4.20%
88 Bellevue 4.10%
89 Forrestfield 4.10%
90 Secret Harbour 4.10%
91 Balcatta 4%
92 Bayswater 4%
93 Huntingdale 4.00%
94 Riverton 4.00%
95 Ellenbrook 3.90%
96 Kewdale 3.90%
97 Mosman Park 3.90%
98 Rockingham 3.90%
99 Ascot 3.80%
100 Como 3.80%
101 Leda 3.80%
102 Maddington 3.80%
103 Salter Point 3.80%
104 Spearwood 3.80%
105 Success 3.80%
106 Victoria Park 3.80%
107 Alexander Heights 3.70%
108 Glendalough 3.70%
109 Kelmscott 3.70%
110 Marangaroo 3.70%
111 Parmelia 3.70%
112 Queens Park 3.70%
113 Beechboro 3.60%
114 South Fremantle 3.60%
115 The Vines 3.60%
116 Applecross 3.50%
117 Armadale 3.50%
118 Bibra Lake 3.50%
119 Landsdale 3.50%
120 Ridgewood 3.50%
121 Thornlie 3.50%
122 Waikiki 3.50%
123 Coolbellup 3.40%
124 Doubleview 3.40%
125 Mount Richon 3.40%
126 Osborne Park 3.40%
127 Peppermint Grove 3.40%
128 Perth 3.40%
129 Upper Swan 3.40%
130 Walliston 3.40%
131 Calista 3.30%
132 Helena Valley 3.30%
133 North Fremantle 3.30%
134 West Swan 3.30%
135 Cooloongup 3.20%
136 East Fremantle 3.20%
137 Golden Bay 3.20%
138 Orelia 3.20%
139 Kallaroo 3.10%
140 Lockridge 3.10%
141 Port Kennedy 3.10%
142 Safety Bay 3.10%
143 Shelley 3.10%
144 Karrinyup 3%
145 Kensington 3%
146 Mount Pleasant 3.00%
147 Munster 3.00%
148 Quinns Rocks 3.00%
149 Winthrop 3.00%
150 Coolbinia 2.90%
151 Ferndale 2.90%
152 High Wycombe 2.90%
153 Hovea 2.90%
154 Leederville 2.90%
155 Morley 2.90%
156 Mount Lawley 2.90%
157 North Beach 2.90%
158 Butler 2.80%
159 North Lake 2.80%
160 Sorrento 2.80%
161 Wandi 2.80%
162 West Perth 2.80%
163 Beldon 2.70%
164 Craigie 2.70%
165 Singleton 2.70%
166 Swanbourne 2.70%
167 Gooseberry Hill 2.60%
168 Mindarie 2.60%
169 South Perth 2.60%
170 Stirling 2.60%
171 Watermans Bay 2.60%
172 Banksia Grove 2.50%
173 Bateman 2.50%
174 Cottesloe 2.50%
175 Henley Brook 2.50%
176 Joondalup 2.50%
177 Melville 2.50%
178 Scarborough 2.50%
179 Coogee 2.40%
180 Hamersley 2.40%
181 Heathridge 2.40%
182 Jane Brook 2.40%
183 Maylands 2.40%
184 Merriwa 2.40%
185 Sinagra 2.40%
186 West Leederville 2.40%
187 Willetton 2.40%
188 Ardross 2.30%
189 Belhus 2.30%
190 Canning Vale 2.30%
191 Carabooda 2.30%
192 Herne Hill 2.30%
193 Hillman 2.30%
194 Joondanna 2.30%
195 Kardinya 2.30%
196 Mullaloo 2.30%
197 Parkerville 2.30%
198 Rossmoyne 2.30%
199 Tuart Hill 2.30%
200 Claremont 2.20%
201 East Perth 2.20%
202 Floreat 2.20%
203 Lynwood 2.20%
204 Madeley 2.20%
205 Maida Vale 2.20%
206 North Perth 2.20%
207 Woodlands 2.20%
208 Yokine 2.20%
209 City Beach 2.10%
210 Darch 2.10%
211 Marmion 2.10%
212 Murdoch 2.10%
213 Palmyra 2.10%
214 Stoneville 2.10%
215 Trigg 2.10%
216 Attadale 2%
217 Bicton 2%
218 Parkwood 2.00%
219 Pearsall 2.00%
220 Yanchep 2.00%
221 Alfred Cove 1.90%
222 Ballajura 1.90%
223 Banjup 1.90%
224 Glen Forrest 1.90%
225 Gwelup 1.90%
226 Iluka 1.90%
227 Inglewood 1.90%
228 Lesmurdie 1.90%
229 Noranda 1.90%
230 Padbury 1.90%
231 Tapping 1.90%
232 Warwick 1.90%
233 Wembley Downs 1.90%
234 Innaloo 1.80%
235 Kingsley 1.80%
236 Subiaco 1.80%
237 Carine 1.70%
238 Churchlands 1.70%
239 Duncraig 1.70%
240 Hocking 1.70%
241 Mount Hawthorn 1.70%
242 Dianella 1.67%
243 Roleystone 1.66%
244 Dalkeith 1.60%
245 Daglish 1.57%
246 Bedford 1.57%
247 Connolly 1.57%
248 Wanneroo 1.56%
249 Mount Claremont 1.55%
250 Menora 1.55%
251 Booragoon 1.51%
252 Casuarina 1.50%
253 Wembley 1.49%
254 Edgewater 1.48%
255 Kalamunda 1.47%
256 Ocean Reef 1.46%
257 Ashby 1.45%
258 Nedlands 1.43%
259 Hazelmere 1.40%
260 Leeming 1.35%
261 Mundaring 1.33%
262 Woodvale 1.32%
263 Mahogany Creek 1.30%
264 Nowergup 1.30%
265 Hillarys 1.25%
266 Currambine 1.16%
267 Greenwood 1.13%
268 Bull Creek 1.10%
269 Carramar 1.07%
270 Myaree 1.00%
271 Shenton Park 0.99%
272 Kinross 0.96%
273 Jolimont 0.90%
274 Two Rocks 0.84%
275 Crawley 0.80%


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