AUTUMN 2017
COMO
MARKET
UPDATE
In this issue What’s Sold // Market Facts // Finance Update What’s Selling // Nice Words
WELCOME As the front window of our office shows, we are seeing the first ‘green shoots’ appear in the market by way of slightly improved sales volumes. This hasn’t as yet translated to improvement in prices and won’t for a while. This is due to 3 factors: 1. Lower confidence levels 2. Minimal population growth in WA 3. High stock levels But at least volume of sales is improving and stock levels are not growing in number. Auctions are starting to show good successes with a number of homes selling at auction in the last month. Rents are still soft and tenants are negotiating on current rent levels to stay in existing homes.
Things are improving in this market too. The vacancy rate is lower though than it was last quarter (at about 5%). Investors comprise less than 9% of the market with occupiers being the balance. As always, if you are thinking of buying or selling or would like a current market appraisal, please call us on 9474 2000.
Alan Bourke There is never going to be a right time. The only time is now! Anonymous
MARKET FACTS VOLUME OF SALES By Type HOUSES
44
UNITS
49
115
94
LAND
0
SELLING
GONE
HOUSE SALES
UNIT SALES
Highest Sale
$1,750,000
Highest Sale
$855,000
Lowest Sale
$320,000
Lowest Sale
$100,000
(Source REIWA as at 10/05/2017)
FINANCE UPDATE At its latest meeting on the 2nd May the RBA opted to leave the official cash rate on hold at 1.5%. This follows new data that indicates the strong Sydney and Melbourne property markets may be close to peaking following APRA’s intervention into the levels of interest only and investment lending the banks are funding. The banks however are raising rates independent to the RBA by 0.25 - 0.50%.
GONE & SELLING (MAR QTR 2017) Gone
Saunders St COMO Under Contract
Gone
3x1x2
Gone
Coode St COMO $1,650,000
4 x 3 x 3+
2x1x3
2x1x1
3x1x1
4/14 Alston Ave COMO Suit buyers in the $800’s 3 x 2 x 2
40a Alston Ave COMO From $899,000
12A Brittain St COMO From $1.249-$1.289M
Bland St COMO $1,100,000
4 x 3 x 2+
8a Ruth St COMO From $1.299M
4 x 2 x 2+
Selling
4x2x2
Selling
2x1x1
3x2x2
Selling
Selling
Selling
11/26 Baldwin St COMO From $295,000
Gardner St COMO $269,000
Robert St COMO $680,000
Gone
Selling
Selling
7/24 Gardner St COMO From $499,000
2x1x2
Gone
Gone
Saunders St COMO $450,000
Axford St COMO $462,000
Gone
20 Hobbs Ave COMO From $1.199M
7x3x5
Selling
4 x 2 x 2+
91 Bessell Ave COMO $945,000
4x3x2
James Thompson was outstanding from start to finish. His salient advice, marketing knowledge and feedback was first class. I would recommend James to all sellers as a straight talking agent who knows his trade and is (always) an unashamed ambassador for the seller. After all, it is the seller that pays the fees. R & T Teuchert
“Professionalism, experience and integrity are rare in today’s world but they are very evident in Alan Bourke, who like a good wine gets better all the time.” Dr. D. Ducrow
“…it is our view that Karen Firth has achieved for you a result that is nothing less than sensational…” Michael White & Co.
“Kathryn Perin was a pleasure to work with, keeping us updated regularly on the potential buyers and conducting good negotiations with interested parties. Would definitely work with
Kathryn again.
Thanks!”
S. & K. Keen
not
We’re the newest kids on the block that’s actually why you should use BOURKES! We have over 35 years of experience in helping lots of families move home. At BOURKES, we have proven sales processes to see you move quickly. Processes NOT promises! Talk to us today about improving your lifestyle for tomorrow on 9474 2000.
272 Canning Highway COMO / 08 9474 2000 / bourkes.com.au Connect with Bourkes /Bourkes.Property /@Bourkes_Property /BourkesTV /Bourkes