AUTUMN 2017
KENSINGTON In this issue What’s Sold // Market Facts // Finance Update What’s Selling // Nice Words
MARKET
UPDATE
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 me today on 0411 429 069.
Karen Firth Real integrity is doing the right thing, knowing that nobody’s going to know whether you did it or not. Oprah Winfrey
MARKET FACTS VOLUME OF SALES By Type HOUSES
KENSINGTON Listed & Sold
21
UNITS
0
LAND
0
22
21
FOR SALE
GONE
HOUSE SALES Highest Sale
$1,185,000
Average Sale
$787,952
Lowest Sale
$498,000
Median Sale
$750,000
(Source REIWA as at 15/05/2017)
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%.
SOLD & SELLING (MAR QTR 2017) Gone
Gone
Gwenyfred Rd KENSINGTON $750,000 2x1x1
Gone
King St KENSINGTON $720,000
Douglas Ave KENSINGTON $685,000 2x1x1
Gone
2x1x3
3x2x1
Campbell St KENSINGTON $990,000 3x1x2
Gone
Lansdowne Rd KENSINGTON $695,000 2x1x1
Selling
83 King George St KENSINGTON From $1.3M 4x2x2
Hovia Tce KENSINGTON $1,000,000
Sixth Ave KENSINGTON $1,185,000
4x2x2
Gone
4x2x2
Gone
Vista St KENSINGTON $839,000
Banksia Tce KENSINGTON $755,000 3x2x1
Gone
Gone
Gone
Arundel St KENSINGTON $930,000
Gone
First Ave KENSINGTON $750,000
3x2x2
Gone
4x2x2
Selling
58 Banksia Tce KENSINGTON $850,000 3x2x2
Second Ave KENSINGTON $720,000 2x1x1
Selling
113 Douglas Ave KENSINGTON Closing Date Sale 3x1x2
DISCLAIMER: Please note, not all of the above properties were sold by Bourkes
“Karen delivered on the two things that really mattered – rapid sale of property and optimal sale price for the home – a great salesperson. I found the service supplied to be above average and I’m satisfied with the results. A pleasure to do business with, would contact Karen Firth when selling or buying in this area in the future. Professional and efficient agent, made our purchase trouble free and pleasurable.”
Karen provided an
extremely professional service. I would not hesitate to recommend her to anyone wishing to sell their house.
P. & S. Keynes
“…it is our view that Karen Firth has achieved for you a result that is nothing less than sensational…”
P. Cookson
Michael White & Co.
“For what it’s worth, call Firth!”
Karen Firth Senior Sales Executive 0411 429 069 karen@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.
272 Canning Highway COMO / 08 9474 2000 / bourkes.com.au Connect with Bourkes /Bourkes.Property /@Bourkes_Property /BourkesTV /Bourkes