WINTER 2018
experience better
MANNING
MARKET UPDATE
In this issue Market Facts | Finance Update | What’s Sold What’s Selling | Words of Wisdom
WELCOME After the traditional strong first quarter in 2018, most real estate commentators believed we were moving into the recovery stage in Perth. Interest rates were likely to be stable throughout 2018. Population in WA is 2.58M and planned to rise by 0.7% and buyer sentiment was out of the negative zone and now neutral. What we saw in the last quarter was uninspiring. Numbers through our home opens averaged 2 per home open. Volumes didn’t increase and with most sales we have seen an erosion of equity with sales prices below what people paid. You would expect the buyers to have surged into the market but they are waiting for concrete data that the market isn’t going down further. State Treasury forward estimates are 0.7% growth in median prices in the 2018/2019 year. New dwellings are expected to be 20,000 in
2018, 22,000 in 2019 and 23,000 in 2020. An interesting figure is the difference in days on market with Auction sales versus Private Treaty - 27 days by auction, 72 days by Private Treaty. We’ve noticed that the $2m plus market has been raided by well informed and savvy buyers with numbers of great buys and little remaining stock. As always, if you are thinking of buying or selling or would like a current market appraisal, please call us on 0405 709 763 or 0498 881 397.
Kathryn Perin
Ben Kahan
Sales Executive
Sales Executive
MARKET FACTS VOLUME OF SALES By Type HOUSES
14
LAND
1
35
15
FOR SALE
GONE
LAND SALES
HOUSE SALES Highest Sale
$1,350,000
Highest Sale
$525,000
Lowest Sale
$655,000
Lowest Sale
$525,000
(Source RP Data as at 03/07/2018)
FINANCE UPDATE At its latest meeting on 3rd July, 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 (JUNE 2018 QTR) Gone
Goss Ave MANNING $1,350,000
Gone
4x3x2
Gone
Challenger Ave MANNING $716,500
3x1x1
Bruning Rd MANNING $990,000
3x1x1
Bradshaw Cres MANNING $990,000
4x2x2
Selling
3x2x2
4 Edgewater Rd SALTER POINT From $950,000 6x3x2
MANNING
5x2x2
Parsons Ave MANNING $935,000
4x2x2
5a Burnett Rd MANNING OFFERS
3x2x1
Selling
Selling
2x1x1
Hope Ave MANNING CONTACT AGENT
Selling
COMING SOON!
12/80 Edgecumbe St COMO From $399,000
2x1x1
Gone
Selling
4x2x2
Burnett Rd MANNING $460,000
Gone
Gone
Selling
3/15 Forward St MANNING $675,000
3x2x2
Gone
Gone
Canavan Cres MANNING $655,000
Conochie Cres MANNING $600,000
Gone
3x1x1
* DISCLAIMER - Not all of the above GONE properties have been sold or listed by Bourkes
COMING SOON!
SALTER POINT
4x2x2
HARD WORKING, GENUINE, HONEST & ALWAYS CLIENT FOCUSSED! Kathryn had to work extremely hard to get our property sold in a tough market. She communicated extremely well and always took into account our personal situation which was appreciated. In particular her local knowledge and market awareness is one of her key strengths. M Grey
“FABULOUS AGENT! We engaged Bourkes to sell our property in Perth on the recommendation by our neighbour and we were lucky enough to land Kathryn. It took sometime to sell the property and without Kathryn we would likely still be the owners! We found Kathryn to be totally trustworthy, a great communicator, totally authentic and genuine in her efforts to secure the best deal for us. We extended our relationship to a couple of social events and from a professional perspective were thoroughly impressed with the effort Kathryn put in. We would absolutely recommend Kathryn as the go to Real Estate agent to sell your property without hesitation.” K Walmsley “The transition from one home to another came with stressors, deadlines and decisions, however Kathryn was able to support us and enable us to manage this seamlessly. She was always available, efficient and professional.Kathryn understood our needs and was always supportive.She often went beyond what we would have expected and this was greatly appreciated. We would recommend her services without hesitation.” A & S Duryea
Authenticity | Excellence | Respect You've invested a lot into your home, now you need a team whom you can invest your trust in. With our combined 30+ years experience in property, we have proven strategies to ensure you achieve the best possible result, every time. Call today and use our experience to create your own.
Ben Kahan
Kathryn Perin
SALES EXECUTIVE
SALES EXECUTIVE
0498 881 397
ben@bourkes.com.au
0405 709 763
kathryn@bourkes.com.au
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