Property Council WA executive director Joe Lenzo.

Confidence drops in property sector

The state government's tight 2014 budget and widespread job cuts in the resources sector have put the clamps on positive sentiment in the property sector, according to the Property Council of Australia.


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Excellent news! Maybe my grown up children and all their Gen Y mates can finally afford to buy a small apartment in Perth for under $300,000. As reported previously in BN the resources sector employs less than 10% of the WA workforce while the remaining 90%+ earn the WA average full-time salary around $75,000 as reported by ABS earlier this week. Incidentally a mean $75,000 gross salary equates to a $50,000 net salary which is less than $1000 per week of which $300-$600 per week is paid for rent ($250 per week for a room in a house in Perth is not unusual), then deduct electricity, gas, rego, petrol and food bills it is no wonder people are grumpy in Perth as reported yesterday. The mode salary is $10,000 below the median salary according to ABS data so please don't give the Coles workers a hard time when service is slow as they are paid half the mean around $35,000pa before tax and will never buy a house needing to rent a house for life and most likely some miner's second or third property negatively geared to reduce his or her high tax...sure is a lucky country eh?...if your a miner, ask Gina now worth $10Billion according to BN. In Norway such resources (oil and gas) are state owned and the wealth spread equally while providing an excellent education and health system for all entirely free of charge while we squander $400million on an arena, $1/2Billion on a silly looking patch of water personally I'd rther have the grass to picnic on as $5 coffees are just too expensive for most WA people and $700million on a stadium that most WA people will never step foot in because it only holds 60,000 at any one game no doubt wealthy members only who go to all home games as Perth approaches 2 million population so if the Eagles or Dockers want a new stadium let the clubs pay for the stadiums like soccer clubs do in Europe never ever paid by taxpayers which would be seen as corrupt wasting taxpayers better spent on building government houses for those who cant afford to buy a house like the 30,000 people currently on the WA state housing waiting list some living in cars on the back streets of Fremantle getting their free breakfast at St Patrick's church each mornong in this lucky country while politicians who represent them and get their votes received another $5000 pay rise last week to eatwell, drinkwell, sniff seats and smash up government cars!

3 workers on 10 will retire within 15 years. The plunge will be significant for investors.

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