Equity Levels in Perth Property
Despite all the doom and gloom about the state of the Perth property market a report compiled by RP Data recently showed that 47.4% of all Perth property owners have more than 100% equity in their properties. Another 12% have between 50 and 100%. Only 4 % of owners have negative equity. The figures are worse for people who purchased a property after 2007 with 9.6% of them having negative equity.
MY THOUGHTS:
This is actually a good sign for the Perth property market as there is still plenty of equity out there. In the long term those with negative equity will disappear as the market improves. This is also a reminder to invest for the long term.
