WINTER 2018
experience better
COMO
MARKET UPDATE
In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom
WELCOME Reflecting on the 2017/18 financial year, there is a sense of relief that the worst is now (most likely) behind us and we can look forward to a period of gradual recovery. Some key indicators support this forecast, with interest rates predicted to remain on hold for the remainder of 2018, Western Australia’s population (currently 2.58M) tipped to grow by a modest 0.7%, and buyer sentiment crawling back from negative territory to a neutral position. Statistically, property prices in most Perth suburbs have fallen to the same levels experienced in 2009, however, despite the obvious temptation to jump in and snap up a new home or investment property, we are finding that some buyers are adopting a more cautious and considered approach. This should start change once Winter is behind us and the competition (and the weather) heats up. State Treasury forward estimates suggest median price growth of just 0.7% in the 2018/19 FY.
Recent REIWA figures indicate that unusually for Perth, there is a considerable difference in the average days on market for properties sold by Auction (27 days) versus those sold by Private Treaty (72 days). If you’re considering selling, be sure to speak to an experienced local agent about the methods of sale available to you and the accompanying benefits (or disadvantages) of each. If you or anyone you know requires obligation free real estate advice or assistance, please feel free to contact me directly on 0421 677 856 or james@bourkes.com.au and it will be my pleasure to help you.
James Thompson Senior Sales Executive The James Thompson Team
0421 677 856
MARKET FACTS (JUNE QTR 2018) VOLUME OF SALES By Type HOUSES
18
UNITS
44
LAND
2
HOUSE SALES
138
64
SELLING
GONE
UNIT SALES
Highest Sale
$1,900,000
Highest Sale
$1,250,000
Lowest Sale
$600,000
Lowest Sale
$185,000
(Source Corelogic as at 03/07/2018)
FINANCE UPDATE At its latest meeting on 3rd July 2018, the RBA opted to leave the official cash rate on hold at 1.5%. This marks the twenty-second meeting in a row where the RBA has left rates unchanged, with the last rate change taking place in August 2016, a 25 basis point rate cut. Having said that, the trend is upwards with costs of finance rising.
SOLD & SELLING Gone
Thelma St COMO $475,000
Gone
2x1x2
Gone
Mary St COMO $965,000
3x2x3
4x2x2
Melville Pde COMO Contact Agent
Comer St COMO $810,000
3x1x2
3x2x2
3x2x2
Bruce St COMO $790,000
3x2x2
2/287 Canning Hwy COMO From $449,000 3x1x1
Selling
12/80 Edgecumbe St COMO From $399,000 2x1x1
23/4 Comer St COMO From $270,000
1x1x1
Selling
Selling
3x1x1
Alston Ave COMO $345,000
Gone
Selling
Selling
31 Bessell Ave COMO Contact Agent
3x3x2
Gone
Selling
9 Barker Ave COMO AUCTION
Gardner St COMO $1,240,000
Gone
Gone
Gone
Preston St COMO $1,230,000
(JUNE 2018 QTR)
20/373 Canning Hwy COMO From $299,000 2x1x1
Selling
1x1x1
86 Birdwood Ave COMO From $749,000
5x3x2
“I was very impressed with the fact the James clearly explained the procedure for the sale and got the ball rolling very fast. He had very good local knowledge of the Como area in regards to setting a realistic strategic price. As a local real estate agent, he also had a ready made data base of potential buyers looking for what my property offered. He organised a twilight viewing and invited those potential buyers, one of whom actually bought the property even before it had been advertised to the general public. I also appreciated his suggestion of installing staged furniture which created the perfect atmosphere. The photographer he used was very professional and took brilliant photos of the property. There was always an open line of communication between James and myself.”
James is undoubtedly the best real estate professional service provider around. He is the best we have dealt with and we have dealt with all sorts lately in all parts of the industry. He patiently dealt with us over a long period as we reluctantly prepared to sell our home. He gave us honest and realistic advice. He made the process easy and got us the best price. His assistant Kendall was particularly fantastic through the whole process. The James Thompson team is #1.
D & C Easton
“James and the team at Bourkes were extremely helpful throughout the entire process of selling our property. This is the second time we have dealt with James and won’t be the last.”
M & M Voros
R & J Downing
IF YOU ARE CONSIDERING A MOVE SOON OR WOULD LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH IN TODAY’S MARKET, PLEASE CONTACT ME AT ANY TIME James Thompson Senior Sales Executive “Como’s Most Trusted Opinion”
0421 677 856 james@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.
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