AUTUMN 2017
RIVERVALE
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.
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.
Please call me today on 0413 310 330.
Steven Webster The secret to success is to do the common things uncommonly well.
Rents are still soft and tenants are negotiating on current rent levels to stay in existing homes.
MARKET FACTS
John D. Rockefeller
(MAR QTR 2017)
VOLUME OF SALES By Type HOUSES
25
APARTMENTS
19
LAND
-
HOUSE SALES
46
45
SELLING
GONE
APARTMENT SALES
Highest Sale
$900,000
Highest Sale
$735,000
Lowest Sale
$371,000
Lowest Sale
$157,000
(Source REIWA as at 02/04/2017)
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 (JAN-MAR 2017) Gone
Gladstone RIVERVALE $630,000
Gone
2x1
Gone
Lyons St RIVERVALE $290,000
3x1x2
Gone
2x1
Gone
Hardy St BELMONT $449,000
Gladstone RIVERVALE $457,500
Gone
Gladstone RIVERVALE $485,000
Selling
120 Toorak Rd RIVERVALE $649,000 3x1x1
Selling
88&88A Toorak Rd RIVERVALE $419,000 3x1x1
4x1x1
Star St CARLISLE $495,000
3x2x2
Selling
Kambalda Way KEWDALE $875,000 3x2x2
Selling
20 Lyons St RIVERVALE From $299,000
2x1x 1
Selling
1/81 Gladstone Rd RIVERVALE From $519,000 3x2x2
Selling
12 Boucher St KEWDALE Auction
3x1x2
Gone
Gone
3x2x2
Campbell St RIVERVALE $504,500
19 Finlay Rd RIVERVALE From $599,000
3x1x2
Selling
3x2x2
151A Gladstone Rd RIVERVALE Auction 3x2x2
We had 3 reps in and we were really impressed with Steven’s
marketing strategy to
maximise our chances of a great price in this hard market, we ended up getting
over 40k more
than the other reps thought we would get. Paul and Cindy
“We had another rep selling our property for nearly 6 months, Steven was referred to us by a friend and when we had finished speaking with him we had a better idea of how our property should be marketed and sold it within 2 months of him taking over the listing and we couldn’t be happier. We have sold another property through him since.” Rose & Peter
“I am based over east and really needed someone who understood the market and could work with tenants to help sell my investment property. Steven kept me up to date on a regular basis and negotiated a great result for me with the least amount of fuss, couldn’t have hoped for a better result.” Frank
IF YOU WOULD LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH IN TODAY’S MARKET, PLEASE CALL ME TODAY FOR AN OBLIGATION FREE APPRAISAL Steven Webster - Sales Director 0413 310 330 steven@bourkes.com.au If you’d prefer to receive this report by email, please email me your details.
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